Artificial Intelligence
Global Virtual Training and Simulation Market Size Is Anticipated to Surpass Over $973.4 Billion Mark by 2023
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NEW YORK, NY, March 24, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Virtual Training And Simulation Market By Component (Hardware And Software), By End User (Defense & Security, Civil Aviation, Education, And Entertainment), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Virtual Training and Simulation Market size & share in terms of revenue was valued at USD 332.6 billion in 2022 and it is expected to surpass around USD 973.4 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 13.96% during the forecast period 2023 to 2030.”
What is Virtual Training and Simulation? How big is the Virtual Training and Simulation Industry?
Report Overview:
The global virtual training and simulation market size was worth around $332.6 Billion in 2022 and is further predicted to grow to $973.4 billion by 2030, with a compounded annual growth rate (CAGR) of 13.96% during the forecast period.
Virtual training and simulation refer to the use of technology to create immersive learning experiences that replicate real-world scenarios. This type of training is commonly used in various industries, including aviation, military, healthcare, and entertainment. Virtual training and simulation can be used to train individuals on a variety of skills, from technical expertise to soft skills such as communication and decision-making. It allows learners to practice in a safe and controlled environment where they can make mistakes without the risk of causing harm.
There are various types of virtual training and simulation, including virtual reality (VR), augmented reality (AR), and mixed reality (MR). VR involves immersing learners in a completely virtual environment, while AR overlays digital information onto the real world. MR amalgamates aspects of both AR and VR. Virtual training and simulation have several advantages over traditional training methods, including cost-effectiveness, scalability, and flexibility. It allows learners to practice in a variety of scenarios without the need for physical equipment or locations. Additionally, it allows trainers to monitor learners’ progress and provide immediate feedback.
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Global Virtual Training and Simulation Market: Growth Factors
The global virtual training and simulation market is expected to surge exponentially due to the presence of a great deal of flexibility in them as they can be initiated anytime irrespective of location and even depending upon the pace of learning of an individual. In addition, virtual training and simulation are cost-effective as they reduce the need for physical equipment, locations, and trainers. This makes it easier for organizations to provide training to a large number of people at once.
There has been a significant surge in the demand for remote working or work-from-home culture which further drives the growth of the market. Thus, with the rise of remote work, many organizations are using incessantly using virtual training and simulation to train their employees, regardless of their location. In addition, virtual training and simulation offer a personalized learning experience and help to accommodate a large number of learners, making it easier for organizations to train their employees, partners, and customers. Besides, persistent technological advancements and an increase in the adoption of innovative technologies such as augmented reality (AR), virtual reality (VR), and even mixed reality (MR) create ample opportunities for the growth of the market during the forecast period. However, the requirement of high initial investment for setting up virtual training and simulation programs is expected to impede the growth of the market to an extent.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 332.6 billion |
| Projected Market Size in 2030 | USD 973.4 billion |
| CAGR Growth Rate | 13.96% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | The Disti Corporation, Saab AB, ExtraHoop, Microsoft, Broadcom, WNS Limited, Hitachi, Splunk Inc., StackState, SAP, BMC Software Inc., CA Technology Inc., Evolven Software Inc., IBM, Oracle Corp., Vmware Inc., Qinetiq Group Plc., On24 Inc., Laerdal Medical Corporation, L-3 Link Simulation Training, Kratos Defense Security Solutions Inc., Cubic Corporation, CAE Inc., Bae System Plc., and Ansys Inc. |
| Key Segment | By Component, By End User, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Virtual Training and Simulation Market: Segmentation Analysis
The global virtual training and simulation market is segmented based on component, end-user, and region.
Based on component, the market is bifurcated into hardware and software segments. The hardware segment held the largest market share in 2022 and is further predicted to occupy a dominant market share and simultaneously grow at a rapid CAGR during the forecast period. The main reason for the growth of this segment is that hardware is paramount in making effective use of simulation technologies and in the creation of an effective virtual training experience. Various instruments such as haptic devices, VR headsets, AR headsets, motion tracking devices, display devices, audio devices, and other hardware devices are widely used in e-learning, digital manufacturing, entertainment, and healthcare areas. These factors drive the growth of the segment during the forecast period.
Based on end-user, the market is bifurcated into defense & security, civil aviation, education, and entertainment. The entertainment segment held the dominating market share in 2022 and is further projected to grow rapidly at a notable CAGR during the forecast period.
The major reason for the growth of this segment is the remarkable surge in demand for virtual reality and other simulation technologies in video games and the theme parks industry for more immersive experiences. In the video game industry, virtual training and simulation techniques are used to create more realistic and immersive gaming experiences, providing more engaging and interactive gaming adventures for players. In the theme park industry, virtual training and simulation techniques are essentially used to create intriguing theme park attractions that provide a more immersive and realistic experience. These attractions can include VR theatres, interactive experiences, VR roller coasters, and other immersive rides that use VR headsets and other simulation technologies.
The global Virtual Training and Simulation market is segmented as follows:
By Component
- Hardware
- Software
By End User
- Defense & Security
- Civil Aviation
- Education
- E-Learning
- Game-based learning
- Entertainment
Browse the full “Virtual Training and Simulation Market By Component (Hardware and Software), By End User (Defense & Security, Civil Aviation, Education, and Entertainment), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”– Report at https://www.zionmarketresearch.com/report/virtual-training-and-simulation-market
Competitive Landscape
Some of the main competitors dominating the global Virtual Training and Simulation market include –
- The Disti Corporation
- Saab AB
- ExtraHoop
- Microsoft
- Broadcom
- WNS Limited
- Hitachi
- Splunk Inc.
- StackState
- SAP
- BMC Software Inc.
- CA Technology Inc.
- Evolven Software Inc.
- IBM
- Oracle Corp.
- Vmware Inc.
- Qinetiq Group Plc.
- On24 Inc.
- Laerdal Medical Corporation
- L-3 Link Simulation Training
- Kratos Defense Security Solutions Inc.
- Cubic Corporation
- CAE Inc.
- Bae System Plc.
- Ansys Inc.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Virtual Training and Simulation market is likely to expand at a CAGR of around 13.96% during the forecast period (2023-2030).
- In terms of revenue, the Virtual Training and Simulation market size was valued at around US$ 332.6 billion in 2022 and is projected to reach US$ 973.4 billion by 2030.
- Virtual training and simulation refer to the use of technology to create immersive learning experiences that replicate real-world scenarios. This type of training is commonly used in various industries, including aviation, military, healthcare, and entertainment. Virtual training and simulation can be used to train individuals on a variety of skills, from technical expertise to soft skills such as communication and decision-making.
- Based on component, the hardware segment held the largest market share in 2022.
- Based on end-user, the entertainment segment held the largest market share in 2022.
- Based on region, the Asia-Pacific region held the dominating market share in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Virtual Training and Simulation industry?
- What are the main driving factors propelling the Virtual Training and Simulation Market forward?
- What are the leading companies in the Virtual Training and Simulation Industry?
- What segments does the Virtual Training and Simulation Market cover?
- How can I receive a free copy of the Virtual Training and Simulation Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Component, By End User, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Asia-Pacific region is expected to cite the fastest CAGR in the global virtual training and simulation market during the forecast period. The region is rapidly growing in the virtual training and simulation market in recent years. Countries such as China, Japan, India, and South Korea have been driving the growth of the market in the region, with a high adoption rate of advanced technologies in industries such as automotive, manufacturing, and defense. Besides, the presence of a large population, increase in the number of internet users, rapid industrialization and urbanization along with significant growth in the economy of the countries in this region further drive the growth of the market.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In September 2021, VirTra, a provider of training simulators for law enforcement and military personnel, announced the launch of its new training simulator called the V-300LE. It offers enhanced features such as artificial intelligence and dynamic branching scenarios for more realistic and immersive training experiences.
- In December 2021, EON Reality, a dominant California-based company that provides virtual and augmented reality training solutions, announced the launch of its new products, the AVR Platform and EON-XR platform. The former allows seamless remote training and collaboration and the latter provide 3D content creation and delivery for virtual and augmented reality applications.
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FREQUENTLY ASKED QUESTIONS
- What are virtual training and simulation?
- Which key factors will influence virtual training and simulation market growth over 2023-2030?
- What will be the value of the virtual training and simulation market during 2023-2030?
- What will be the CAGR value of the global virtual training and simulation market by 2030?
- Which are the key major players in virtual training and simulation market growth?
- Which region will contribute notably towards the virtual training and simulation market value?
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Artificial Intelligence
Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region
LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.
Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
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Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.
“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense: The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance: Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met. Mobile Application Security: With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Artificial Intelligence
Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation
Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation 32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.
Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:
59% have seen whistleblowers subsequently left out of important decisions 33% have seen whistleblowers moved to a different team 32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong. It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it. It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact:
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