Simulation Learning Market

Simulation learning offers a fail-safe environment for learners from an array of enterprises to practice skills and gain knowledge, such as personalization, real-time feedback, delivery model, and consistency. It includes strategy, marketing, entrepreneurship, strategic management, business fundamentals, operations management, capstone management, and supply chain management and can be accessed from a tablet or desktop without download or installation.

The global simulation learning market is valued at USD 6,285 million for 2019 and is further estimated to grow at a CAGR of 13.6% during the forecast period 2019-2026.

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Segmental Analysis

By Type Analysis

The hardware segment holds the largest share in the global simulation learning market. The segment encompasses a range of different products across various industries, including medical, civil aviation, agriculture, defense and security, and entertainment, among others. In the medical sector, simulation learning hardware includes manikins used for practicing medical procedures, while in the defense sector, simulation learning hardware includes the demo versions of aircraft and drones used for training.

The simulation learning software segment is expected to register the highest CAGR of 14.4% during the forecast period. Software-based simulation models are extensively used by enterprises to train their employees and the education sector for learning activities. According to Infopro Learning, Inc., software-based simulation learning models create a structured learning environment around 70% of the learning that’s hardest to reach. Demand for simulation learning software is increasing due to advancements in internet technologies, the emergence of cloud-based solutions, and ease in assessing progress. Some of the vendors that provide software-based simulation learning models include Infopro Learning, Inc., RealityWorks, and CAE Inc., among others.

By Application Analysis

Medical simulation learning is an advanced methodology that employs educational technology for training healthcare professionals. Medical education has undergone significant changes all over the world, and the benefits of simulation learning over traditional learning are bolstering the demand for medical simulation. With institutes taking cognizance of the advantages of simulation as a new teaching method, the demand for medical simulation learning is rising in undergraduate and postgraduate medical education. The increasing demand for minimally invasive surgery is also accelerating the growth of the simulation learning market around the globe.

The corporate sector is registering the high adoption of simulation learning technologies due to the high demand for effective training courses for employees. The sector is anticipated to grow at a CAGR of around 10.2% during the forecast period. As technology has exponentially advanced and systems have become more dynamic, managers and professionals face increased difficulty in learning about complex systems with multiple priorities under pressing deadlines.

The development of educational institutions to upgrade the delivery of educational levels is driving the demand for simulation learning in the education sector. Government bodies across the world are significantly investing in the development of education platforms for students; for instance, in May 2018, the Brazilian government announced investments worth around USD 270 million in teacher training throughout the country. The demand for cost-effective learning technologies is also gaining impetus from rising public and private investments in the sector. Simulation learning in the education sector is anticipated to reach a value of over USD 1.024 billion by 2024.

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The demand for simulation learning is also growing in the civil aviation market. The demand for civil aviation training is growing in tandem with the civil aviation sector, which is registering healthy growth on account of continued passenger traffic growth and an expanding global in-service fleet of aircraft. The demand for qualified airline personnel is also increasing with an emphasis on aircraft safety as global economies and airline fleets continue to expand; consequently, flight training and simulation have emerged as key markets within the aviation industry.

The adoption of virtual training to ensure cost-effectiveness and the safety of trainees is driving the demand for simulation learning in defense and security. Most of the defense sectors use a combination of live training on actual platforms, virtual training on simulators, and constructive training using computer-generated simulation. In 2019, CAE collaborated with the U.S. defense forces to provide them with higher-level security programs; globally, the company delivers simulation products to 50 defense forces globe.

The other segment was accounted for USD 223 million in 2018 and is projected to reach USD X340 million by 2024 at a CAGR of 7.3% till the end of the forecast period. It includes the agriculture and entertainment sectors. In the agricultural sector, synthetic animals and plants are designed to educate students; for instance, Realityworks offers interactive animal and plant models for curriculum, student activities, and assessments.

Regional Analysis

North America to Dominate the Global Market

North America is expected to dominate the global market during the forecast period due to the increasing adoption of augmented reality in aerospace and defense sectors and rising use of UAVs. 90% of U.S. and Canadian English language-based medicine residency programs are adopting simulation learning for various specialties such as pediatrics, nursing education, and trauma training, among others.

The increasing number of healthcare professionals in the region is also contributing to the demand for healthcare simulation learning solutions; in the U.S. alone, there are around 525,439 physicians at present. In Canada, the presence of leading simulation learning market players is propelling market growth; for instance, in 2019, CAE Inc. partnered with the Federal Government & Province of Quebec and invested USD 1 billion in the R&D of its digital intelligence program for simulation training.

Europe to Register Significant Growth, Led by the U.K.

Europe is experiencing healthy growth in the simulation learning market. The U.K. accounts for a prominent market share in the regional market and is expected to grow at a CAGR of 12.50% during the forecast period. Healthcare services are most developed in England, Italy, the Netherlands, Scandinavian countries, and Germany. Growing demand for patient safety, accuracy in surgical procedures, and increasing spending on healthcare collectively drive the demand for simulation learning in the region’s medical sector. For instance, in 2018, Germany’s healthcare spending was 11.2% of its GDP.

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Medical Application to be The Most Prominent Growth Driver for Asia-Pacific’s Simulation Learning Market

Asia-Pacific is experiencing the fastest growth in the healthcare IT services market. Government, private sector, and non-profit organizations are investing aggressively in the healthcare market. The Singapore government, for instance, has launched several key technology initiatives and allocated USD 2.3 billion to advance manufacturing and engineering research in the medical industry through 2020. With growing investments in the medical sector, the region is perfectly positioned for extraordinary growth in the near future.

Recent policy changes implemented by the Chinese government are aiding Chinese medical device makers. The country has launched anti-monopoly probes against multinational device companies, and tightened clinical trial requirements, among other changes. Additionally, Asia-Pacific is experiencing tremendous growth in passenger traffic. According to IATA, China is expected to replace the U.S. as the world’s largest aviation market by 2024, and India is anticipated to displace the U.K. for the third place by 2025.

Defense & Medical Applications to Propel Growth in South America

Over the years, South American countries have experienced impressive improvements in defense and medical sectors. The growing number of private payers in the region is contributing to the simulation learning market. In 2014, Brazil had 241 medical schools offering various programs in 20,340 places; the growing privatization of the teaching of medicine at an undergraduate level in Brazil is increasing the demand for simulation learning in the medical sector.

High-Income Economies Such as Bahrain & Saudi Arabia to Drive Growth in the Middle East

Middle Eastern countries are some of the world’s richest economies. These countries offer unique opportunities to multinational companies operating in the simulation learning market. The region’s healthcare sector is supported by the government and Bahrain, Saudi Arabia, and the UAE have major healthcare projects targeting the improvement of health standards among the population. Companies in the region are predominantly engaged in manufacturing low-end simulation products, while high-end medical simulation products are generally imported from the U.S., Europe, or East Asian multinational companies. Various global leaders are taking cognizance of the growth potential in the region and entering the market; for instance, in 2016, CAE, Inc. introduced G650 simulation to the Middle East to expand its presence in the region.

Key Players

Some of the key players operating in the market include CAE Group, Pearson, Mentice, Gaumard Scientific, Realityworks, Infopro Learning, Inc., Simmersion, SIMTICS Ltd, Indusgeeks USA, Inc., Innovative Learning Solutions, Inc., Nortek Simulations OÜ (ChainSIM), Thales Group, McGraw-Hill Education, Forio Corporation, Toolwire Inc., and CapSim.

Recent Developments

• In June 2019, Mentice collaborated with Siemens Healthineers to make VIST virtual patient a fully integrated simulation solution for Siemen’s angiosuite. As part of the collaboration, Mentice’s Vascular Interventional System Trainer (VIST) virtual patient will be integrated into Siemens' Artis icono angiography system
• In October 2019, Realityworks launched two training tools for agriculture education.
• Plant Producer Educational Hydroponics System
• Plant Lab Educational Hydroponics system
• In September 2018, Pearson sold its K-12 Courseware business to covert its business to a digital platform
• In April 2016, Indusgeeks partnered with Nasscom’s Special Interest Group to promote the game industry
• In March 2015, SIMmersion partnered with Independent Living Resources, Inc. to enhance its client base

Global Simulation Learning Market Segmentation

By Type

• Hardware
• Software

By Application

• Medical
• Enterprise
• Education
• Civil Aviation
• Defense and Security
• Others

By Region

North America

• U.S.
• Canada
• Mexico

Europe

• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia-Pacific

LATAM

• Brazil
• Argentina
• Columbia
• Rest of LATAM

Middle East

• Saudi Arabia
• Oman
• Qatar
• Bahrain
• UAE
• Rest of Middle East

Africa

• Nigeria
• Tanzania
• South Africa
• Ghana
• Rest of Africa