At 35+% CAGR to 2021, Immersive Simulator Market Dominated by Oil & Gas Industry

The immersive simulator market is to reach USD 11.44 billion by 2022, at a CAGR of 35.13% between 2016 and 2022 while immersive simulator hardware market to grow at highest rate during the forecast period led by oil and gas industry with largest share, globally.

The key driving factors for the growth of the immersive simulator market are the increasing applications in the medical industry, risk mitigation in oil & gas industries through training in immersive simulator, and ability to transfer knowledge quickly through training in immersive simulator. However, the major restraining factors for the growth of this market are lack of integration between providers of immersive simulator hardware, software and services, and low adoption and acceptance due to lack of awareness.

Complete report on global immersive simulator market spread across 143 pages, profiling 10 companies and supported with 43 tables and 61 figures is now available at http://www.reportsnreports.com/reports/759446-immersive-simulator-market-by-simulation-environment-console-operator-field-operator-offering-hardware-software-services-application-training-product-development-emergency-services-industry-and-geogr-st-to-2022.html .

On the basis of offering, the market for immersive simulator hardware is expected to grow at the highest CAGR between 2016 and 2022. The technological advancements in hardware components and the increasing number of new product launches and developments are expected to boost the adoption of hardware in industries such as automotive, food and beverages, oil and gas, chemicals, medicals, and entertainment, among others.

The immersive simulator market for the training application held the largest market share among all the applications in 2015. Training using immersive simulators helps create a platform and development suite for efficient understanding and simplification of ideas before putting them into action on sites.

The oil and gas industry held the largest share of the immersive simulator market among all industries in 2015. Personnel in the oil and gas industry face the challenges pertaining to oil spills or fire breakouts. There is an increasing demand to integrate information, control, power, and safety solutions to respond to the global demand for affordable energy, meet stringent government regulations, and drive down costs. This has boosted the incorporation of immersive simulators in the oil and gas industry.

The market for immersive simulator in Europe is expected to grow at the highest CAGR between 2016 and 2022. Stringent rules in Europe enforced by the European Commission regarding oil and gas such as “Prospection, Exploration, and Production of Hydrocarbons Directive (94/22/EC)” have driven the safety concern of the people employed in that sector where immersive training has been incorporated and growing substantially.

The key players in the market include Applied Research Associate Inc., (U.S.), Aveva Group Plc, (U.K.), ESI Group (France), Immerse Learning, (U.S.), Schneider Electric SE (France), and Siemens AG (Germany), among others. Order a copy of Immersive Simulator Market by Simulation Environment (Console Operator, Field Operator), Offering (Hardware, Software & Services), Application (Training, Product Development, and Emergency Services), Industry, and Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=759446 .

The report includes in-depth competitive analysis of these key players in the immersive simulator market, with their company profiles, SWOT analysis, recent developments, and key market strategies. In the process of determining and verifying, the global immersive simulator market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (51%), Tier 2 (14%) and Tier 3 (35%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C level (28%), Director Level (40%) and others (32%) from various key organizations operating in the global immersive simulator market. The primary interviews were conducted worldwide covering regions such as North America (42%), Europe (35%), APAC (18%) and RoW (5%).

Request a discount on copy of Immersive Simulator Market by Simulation Environment (Console Operator, Field Operator), Offering (Hardware, Software & Services), Application (Training, Product Development, and Emergency Services), Industry, and Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/contacts/discount.aspx?name=759446 .

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Release ID: 149522