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Virtual Training and Simulation Market in ASIA to Garner $227.13 Billion by 2030: Allied Market Research

Allied Market Research
·4-min read

Rise in awareness about virtual training and simulations, increase in defense, healthcare, and education expenditure by Asian countries, and cost-effective benefits of virtual training and simulations solutions drive the growth of the Asia virtual training and simulation market. In addition, companies adopted online training sessions for the employees to continue the business operations remotely to curb the spread of the virus.

Portland, OR, Sept. 22, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the Asia virtual training and simulation market was accounted for $54.28 billion in 2020, and is expected to reach $227.13 billion by 2030, growing at a CAGR of 15.2% from 2021 to 2030.

Rise in awareness about virtual training and simulations, increase in defense, healthcare, and education expenditure by Asian countries, and cost-effective benefits of virtual training and simulations solutions drive the growth of the Asia virtual training and simulation market. However, resistance to adopt virtual training and simulation technology hinders the market growth. On the contrary, technological advancements and scope for improvements in transportation, healthcare, and other industries would unlock new opportunities for the market players in the coming years.

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Impact of Covid-19 on Asia Virtual Training and Simulation Market-

  • The virtual training technology gained popularity in Asian countries in both the academia and commercial sector as several companies improved their business processes and operational efficiency with the use of technology.

  • In addition, companies adopted online training sessions for the employees to continue the business operations remotely to curb the spread of the virus.

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The Asia virtual training and simulation market is segmented on the basis of component, end user, and country.

Based on component, the hardware segment held the largest share in 2020, accounting for more than two-thirds of the market. However, the software segment is expected to register the highest CAGR of 16.6% during the forecast period.

On the basis of end user, the education segment is projected to manifest the highest CAGR of 17.5% from 2021 to 2030. However, the entertainment segment held the lion’s share in 2020, contributing to nearly two-fifths of the market.

The Asia virtual training and simulation market is analyzed across several countries such as China, Japan, India, South Korea, Sri Lanka, and Rest of Asia. The market across India is projected to register the highest CAGR of 21.6% during the forecast period. However, the market across China held the largest share in 2020, accounting for more than half of the market.

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The Asia virtual training and simulation market report includes an in-depth analysis of the prime market players such as ANSYS, Inc., BAE System, CAE Inc., Cubic Corporation, Kratos Defense & Security Solutions, Inc., Laerdal Medical Corporation, Lockheed Martin Corporation, ON24, INC., SAAB AB, and Thales Group.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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