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AR/VR in Training Market

AR/VR in Training Market - Global Industry Analysis 2016-2020 and Opportunity Assessment 2021 - 2031

AR/VR in Training Market Segmented By Hardware, AR/VR Software, Services having Large Enterprises, Small- & Medium-sized Enterprise used in Consumer Electronics, Aerospace and Defence, Automotive, Healthcare

Global AR/VR in Training Market: Market Outlook

AR/VR technologies can be utilized for collaborative seminars, meetings, public lectures, flight training, military training, training for nurses & medical professionals, and the self-learning process. The AR/VR is significantly being adopted in the broad range of educational training programs including astronomy, engineering, medical education, physics, biology, geology, chemistry, geometry, mathematics, language learning, arts, for new trainers, teachers, and many other disciplines.

The need for better illustration of the respective concepts in the infotainment and training sectors is fueling the demand for AR/VR in training market. AR/ VR in training is also used in industrial manufacturing and entertainment sectors for process demonstration. This helps in a clear understanding of the manufacturing process and reduces errors.

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What are the Key Trends Impacting Growth of the AR/VR in Training Market?

AR/VR in training programs offers various opportunities for the architecture, engineering, and construction industry to develop new tools and finding new use cases such as AR modeling and 3D visualization, virtual meetings, and others. The demand for HUDs, HMDs, and VR projectors is growing significantly in different industries, including aerospace & defense, consumer electronics, medical, and automotive.

The need for reduced chances of human error, and increasing demand for higher efficiency and cost savings in manufacturing industry applications, is creating potential opportunities for AR/VR in the training market. The digital transformation and customization drive AR/VR in the training market

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How Adoption of AR/VR in Healthcare Industry Reshaping the AR/VR in Training Market?

In the recent past, the usage of AR/VR in the healthcare industry has gained tremendous momentum. The use of AR/VR for improving fitness, training doctors, teaching complex subjects to medical students, managing pharmacy, and caring for patients after they discharge from the hospital. The growing demand for AR/VR in training programs to reduce risk and cost associated with training in medical and compliance training.

The AR/VR in training solution providers focused on improving the standard of learning and training for healthcare professionals while reduced driving costs and enhancing retention and understanding.

The AR/VR offers a wide range of training programs for healthcare industries such as realistic 3d visualization, skills development training, advanced learning, enhanced patient care, and education, improved patient education, and healthcare marketing and advertising through AR among others.

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What are the major driving factors for AR/VR in Training Market?

The AR/VR is used for various industrial training applications such as manufacturing, airport operations, maintenance, airline operations, among others for enables smoother and efficient operations. Augmented/virtual reality provides a cost-effective and efficient solution in workforce training and skill development is driving AR/VR in the training market.

Augmented and virtual reality technology offers various applications in workforce training such as leadership development, enhance the learning experiences of employees, customer engagement, and others. The reliability of such applications drives the growth of AR/VR in the training market. This technology also offers safe, smart, and more effective workforce training in business enterprises.

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What are the Key Challenges that may Restrain Growth of the AR/VR in Training Market?

The AR/VR in training solution providers facing various challenge in adopting AR/VR technologies in a wide range of training programs due to some barriers, such as high cost of devices, high cost for content development for training purpose. Such major challenges hindering the growth of the AR/VR in training market.

Key Segments of AR/VR in Training Market Covered in the Report

Based on component, the AR/VR in training market has been segmented as

  • Hardware
    • Semiconductor Components
    • Cameras
    • Sensors
    • Position Trackers
    • Others
  • AR/VR Software
  • Services
    • Professional Services
      • Integration And Implementation
      • Consulting
      • Support and Maintenance
    • Managed Services

Based on enterprise size, the AR/VR in Training market has been segmented as

  • Large Enterprises
  • Small- & Medium-sized Enterprise

Based on application, the AR/VR in Training market has been segmented as

  • Consumer Electronics
  • Aerospace & Defence
  • automotive
  • Healthcare
  • Others

Based on the region, the AR/VR in Training market has been segmented as

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Competitive Landscape

Key players such as PTC, Inc., Microsoft Corporation, HTC Corporation, Seiko Epson Corporation, Lenovo Group Limited, Upskill Inc., MAXST Co., Ltd., EON Reality, Leap Motion, Inc., Atheer, Inc., Nintendo Co., Ltd., Sixense Enterprises Inc., Psious, and others are actively involved in offering AR/VR in Training solutions for different applications. 

What Strategies are the Key Players Adopting for Increasing their Market Share in the AR/VR in Training Market?

A mounting number of AR/VR device manufacturer & solution providers entering the AR/VR in training market, makes the AR/VR in training market a highly competitive market. Leading players in the AR/VR in training market are focusing on improving the operability and flexibility of their products to gain a upper hand in the AR/VR in training market.

In June 2020, Alteredux launches an AR/VR solution to shape the future of online education. Alteredux includes both web and virtual reality platform, it enables educators to create courses, add content, attachments, and provide instructions to students.

AR/VR in training solutions and service providers are entering into a strategic partnership with other cloud solution & service providers for the development of new platform and solution. Partnerships among key players in the market is a major trend observed in the global AR/VR in training market.

In July 2020, EON Reality and Dell announced new AR and VR partnership for EON-XR platform. This partnership helped thousands of users train, learn, and perform better through AR/VR technology and spatial computing. This AR and VR content also used for remote education and enterprise training.

What are the Key Opportunities for AR/VR in Training Market?

The growing demand for AR/VR devices and solutions in healthcare training applications is creating new growth opportunities for AR/VR device manufacturers and solution providers. This technology can be used to offer a virtual view of a patient, in which healthcare students can see the condition of the patient’s body parts.

The use of AR/VR in training for teaching complex subjects to medical students, improving fitness, managing pharmacy, training doctors, and caring for patients after they leave the hospital is fueling the growth of the AR/VR in the training market in the healthcare sector.

Why the U.S. is a Big Market for AR/VR in Training Market?

U.S. is the largest market for AR/VR in training, due to the strong presence of AR/VR in training solutions software and service provider, in the US region. This is attributed to the high increase in demand for AR/VR in training solutions for various end-users such as consumer electronics, aerospace & defense, automotive, healthcare, among others.

The number of smartphone users is growing exponentially in the U.S., mobile AR/VR in training is the future for the mass adoption of this immersive experience. The high adoption rate of smartphones compatible with AR/VR devices, due to availability and of resources for a full-length training program with AR/VR technology on smartphone apps is a factor driving the growth of AR/VR in the training market.

Why South Asia & Pacific has high growth opportunities for AR/VR in Training Market?

The rapid urbanization and economic development in South Asia & the Pacific are anticipated to account for the fastest market growth for AR/VR in training solutions. Rapid developments in new technologies such as hybrid cloud solutions and remote AR/VR technology have made access to new markets easier and cost-effective.

Hence, through the flexibility offered by AR/VR technology, vendors in the AR/VR in training market can take the advantage of the accelerating opportunities in South Asia & Pacific countries like India, Indonesia, Singapore, and others.

What is the Impact of COVID-19 Pandemic Outbreak on AR/VR in Training Market?

The COVID-19 pandemic outbreak has disrupted many industries, including the AR/VR in the training market. The COVID-19 pandemic has ushered in Healthcare 4.0 as healthcare providers have been forced to driven their digital transformation solutions and adopt advanced and innovative solutions such as AR/VR that empower healthcare professionals and support remote patients.

Moreover, The COVID-19 pandemic is expected to positively impact the demand for AR/ VR HMDs in the healthcare industry, due to which the VR HMD for hospitals and clinical applications is anticipated to boost the opportunities for AR/VR in the training market.

Businesses are increasingly adopting AR/VR solutions to manage such training activities in the new home-working environment. AR/VR in the training market is estimated to grow by 1.6X from 2020-2021 and would see a surge in demand amid the COVID-19 outbreak, as remote working becomes the new norm. The availability of affordable AR/VR devices, increasing demand for AR/VR in retail and e-commerce sectors, and penetration of HMDs in gaming and entertainment sectors after COVID-19, such factors drive the growth for AR/VR in the training market.

- Companies Covered in This Report -

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