Press release
Virtual Training Market Booms with 13.7% CAGR Driven by AR/VR Innovations
Virtual Training Market
The Virtual Training Market is rapidly evolving as organizations increasingly adopt digital learning platforms to enhance workforce skills and improve training efficiency. According to Maximize Market Research, the virtual training market is expected to grow at a CAGR of 13.7% from 2024 to 2030, propelled by advancements in AR/VR technologies, rising demand for remote learning, and the growing need for cost-effective training solutions.
Market Size and Growth Overview
The market size of the global virtual training industry was valued at approximately USD 341.61 billion in 2023 and is forecasted to reach USD 839.18 billion by 2030. The growing use of virtual reality (VR) and augmented reality (AR) technologies, combined with the shift towards e-learning due to the COVID-19 pandemic, have been significant growth drivers.
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Competitive Landscape and Higher Regional Demand
Leading companies such as Coursera Inc., Skillsoft Corporation, Adobe Inc., SAP SE, and Microsoft Corporation dominate the market by continuously innovating their virtual training solutions and expanding their global footprint. The Asia-Pacific region, especially countries like China and India, is witnessing higher demand driven by digital transformation initiatives and increasing internet penetration.
Virtual Training Growth Opportunities in Vietnam
Vietnam is witnessing increased adoption of virtual training solutions as companies focus on digital skill development. Government initiatives promoting smart education and partnerships with tech firms are creating growth opportunities.
Virtual Training Market Trends in Thailand
Thailand's market is expanding with increased use of AR/VR in corporate training and education sectors. Local startups are collaborating with global providers, fostering innovation in training technologies.
Japan Virtual Training Market Updation and Innovation
Japan emphasizes technological advancement in virtual training, leveraging its strong IT infrastructure. Investments in AI-enabled learning platforms are accelerating the market's growth.
South Korea Virtual Training Market Expansion and Strategic Consolidation
South Korea is rapidly growing as a hub for advanced virtual training technologies. Strategic mergers and acquisitions involving companies like Samsung SDS and LG CNS are consolidating market presence.
Singapore Virtual Training Market Opportunities and Digital Transformation
Singapore's focus on becoming a Smart Nation fuels virtual training adoption. Government-backed programs and collaborations with international providers are driving the sector's expansion.
US Virtual Training Market Consolidation and M&A Activities
The US market, a leader in virtual training, continues to see significant mergers and acquisitions, such as Skillsoft's acquisition of Global Knowledge, aimed at broadening service portfolios and enhancing digital learning capabilities.
China Virtual Training Market Growth and Technological Advancements
China is experiencing robust growth in virtual training, supported by government policies promoting digital education. Companies like Tencent and Huawei are heavily investing in immersive learning technologies.
Europe Virtual Training Market Trends and Regulatory Developments
Europe is witnessing steady growth, with increasing adoption of virtual training in corporate and educational sectors. Supportive regulations and funding for digital skills development encourage innovation and market penetration.
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Country-Specific Mergers and Acquisitions in Virtual Training Industry
Vietnam & Thailand: Collaborations with global edtech firms to enhance virtual training infrastructure.
Japan & South Korea: Mergers focusing on AI and immersive training technologies.
Singapore: Strategic partnerships with international content providers.
US: Major acquisitions like Skillsoft's purchase of Global Knowledge to expand learning platforms.
China: Joint ventures and investments by tech giants in virtual training startups.
Europe: Consolidations targeting expansion in corporate virtual training segments.
Key Recent Developments in the Virtual Training Market
Coursera Inc. launched new VR-based training modules tailored for enterprise clients.
Skillsoft Corporation expanded its acquisition portfolio with the takeover of Global Knowledge.
Adobe Inc. introduced AI-driven personalized learning experiences in its virtual training platforms.
SAP SE rolled out immersive training solutions for manufacturing and logistics sectors.
Microsoft Corporation enhanced its Teams platform with integrated VR training capabilities.
Tencent unveiled new virtual training tools focusing on language and technical skills development.
Virtual Training Market Segmentation:
by Product
Flexible Foam
Rigid Foam
by Type
Polyurethane
Polystyrene
Polyolefin
Phenolic
PET
Others
By Component, the Hardware segment dominates the global Virtual Training Market. The development of VR/AR technology and its use in simulation training has bolstered the virtual training market, with hardware accounting for more than 55% of the component category. Military and defence sectors have a strong demand for virtual training hardware and equipment for mass training, whereas civil aviation generates demand for simulation gear for pilot training programs.
by Application
Building & Construction
Packaging
Automotive
Furniture & Bedding
Footwear, Sports, & Recreational
Others
By end user, Defence and security are the most popular virtual training topics. The defence sector has the biggest demand for virtual training programs and simulation training programs. The use of AR/VR for specialised teaching and visualisation has caused a significant increase in the virtual training market. Civil aviation also makes extensive use of aircraft simulation training. Boeing and Airbus have built their own virtual training simulation systems, which have a significant impact on training and development.
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Spotlight on Industry Leaders: Exploring the Major Players Driving Innovation and Growth:
1. IBM Corp
2. Oracle Corp
3. Microfocus International PLC
4. CA Technology Inc
5. VMware Inc
6. BMC Software Inc
7. Evolven Software Inc
8. Splunk Inc
9. XpoLog Ltd
10. INETCO Systems Limited
11. Interlink Software Services Ltd
12. Ops DataStore Inc
13. WNS Limited
14. SAP
15. Hitachi
16. SAS Institute
17. Broadcom
18. Microsoft
19. SolarWinds
20. NetApp
21. ExtraHoop
22. iOPEX
23. StackState
Key Offerings:
Unravel the elusive tapestry of Market Share, Size, and Revenue Forecast
Traverse the landscape of Market Dynamics: a treasure trove of growth drivers, restraints, investment opportunities, and key trends!
Embark on a journey of discovery through the uncharted territories of Market Segmentation: a detailed analysis by Virtual Training!
Unveil the pantheon of leading key players and other prominent participants, shaping the enchanted Landscape!
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