Operator Training Simulator Market revenue to cross USD 20 Bn by 2027 – GlobeNewswire

Major operator training simulator market players include ABB Group, Applied Research Associate, Inc., Andritz Automation, AspenTech, Aveva Group PLC, DNV-GL, DuPont, FLSmidth, Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation.

| Source: Global Market Insights, Inc

Selbyville, Delaware, Nov. 23, 2021 (GLOBE NEWSWIRE) —

The operator training simulator market size is anticipated to record a valuation of USD 20 billion by 2027, according to the most recent study by Global Market Insights Inc. Stringent regulations to maintain environmental compliance and safe operations will drive the adoption of operator training simulators.

The service segment in the operator training simulator market is poised to witness 11% growth rate through 2027. The hardware and software of the system are required to be efficient, calibrated & reliable to guide the workforce as per the company’s norms. The acceptance of regular after-sale services offers timely check-ups, reduction in downtime, and up-to-date software for the efficient functioning of simulators and in saving cost & time. Several companies purchase a complete package with a fixed warranty, thus covering several service aspects.

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The energy & power end-use segment is expected to hold 15% of the market share by 2027. Growing demand for skilled operators in the energy & power plant sector will boost the market demand for operator training simulators. In risky environments, companies are focusing on educating their operators to increase the safety of the employees and the facility. Several businesses are planning on installing simulator technology to maintain the critical parameters of premises.

The North America operator training simulator market will showcase growth during the forecast timeframe owing to the technological developments in the region. To improve their product range and enhance the workforce’s technical training experience, companies in the region are forming strategic partnerships. For instance, in July 2021, United Academy and Serious Labs announced the development of an advanced forklift and mobile elevating work platform simulators. The motion-based VR system will offer training in rough terrains. The companies are planning to launch the technology in the coming years to reduce the overall operational costs. The advancement in technologies will create growth opportunities for the industry.

Some of the key companies operating in the market include ABB Group, Applied Research Associate, Inc., Andritz Automation, AspenTech, Aveva Group PLC, DNV-GL, DuPont, FLSmidth, Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation.

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Some major findings of the operator training simulator market report are:

  • The rising demand for a skilled workforce across different sectors will propel the market value. Players are training their staff to increase their safety and reduce accidents in the facility.
  • The integration of high-end technologies, such as AI, virtual reality, cloud services, and augmented reality, will foster the industry demand. System integration allows businesses to educate their employees in a realistic environment and offer a detailed training module.
  • The developing chemical sector is increasingly investing in the digital transformation of facilities to increase the operational efficiency of a business. Several companies are installing remote applications to test and build different process models to create a safer environment for their workers.
  • The cost-effectiveness offered by the system will support the market growth of the technology. Furthermore, the virtual simulation training of different scenarios helps the business in reducing the overall expenses without disturbing the actual process.

Table of Contents (ToC) of the report:

Chapter 3   Operator Training Simulator Market Insights

3.1    Industry segmentation

3.2    Impact of coronavirus (COVID-19) pandemic

3.2.1    Global outlook

3.2.2    Regional outlook

3.2.3    Industry value chain

3.2.4    Competitive landscape

3.3    Industry ecosystem analysis

3.3.1    Software providers

3.3.2    Technology providers

3.3.3    System integrators

3.3.4    Service providers

3.3.5    Distributors

3.3.6    Vendor matrix

3.4    Technology & innovation landscape

3.4.1    Cloud hosting

3.4.2    Virtual reality

3.4.3    Artificial intelligence (AI)

3.5    Regulatory landscape

3.6    Industry impact forces

3.6.1    Growth drivers

3.6.2    Industry pitfalls & challenges

3.7    Growth potential analysis

3.8    Porter’s analysis

3.9    PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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