Operator Training Simulator Market worth over $20bn by 2027

Operator Training Simulator Market Size is set to surpass USD 20 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Enhanced employee safety offered by the operator training simulator technology will boost the market growth. The system when installed or integrated with an existing system offers a customized training module to the workforce, which is designed to provide several aspects about safety parameters in case of an emergency. It allows organizations to train employees in different realistic environments and evaluate the individual based on the procedural steps. Additionally, it helps in reducing drastic accidents and improving operational activities on the premises. An operator training simulator allows businesses to improve their existing setup and test the model by changing various parameters in the simulator.
 

The coronavirus (COVID-19) pandemic has supported the market expansion. The outbreak resulted in the establishment of social distancing norms in various organizations to reduce the spread of the virus, disrupting communications and training sessions of the employees. This factor has encouraged businesses to utilize smart technologies to share knowledge regarding the ongoing developments in the facilities. The simulator system offers an integrated control system, 3D visualizations, real-time data analytics, and interactive sessions to guide the workforce. The technology offers training in different simulation environments including field and console operators, supporting companies in providing training without direct human contact.
 

Advanced hardware supporting the integration of evolving technologies will propel the market progression

The hardware segment is anticipated to witness 10% growth rate through 2027 owing to rising adoption of evolving technologies such as haptic technology and Artificial Intelligence (AI). With the growing integration of advanced technologies, such as AI, cloud services, VR & AR, modern hardware is used to sustain the software. It includes joysticks, steering wheels, pedals, sensors, goggles, and motion platforms. A proper combination of the hardware and software will enhance the employees’ training experience. This factor has encouraged system providers in the market to introduce advanced training modules for different sectors. Furthermore, an increase in market players will foster technological advancements and the cost-effectiveness of the technology.
 

Browse key industry insights spread across 220 pages with 319 market data tables and 37 figures & charts from the report, “Operator Training Simulator Market Size, By Component (Hardware, Software {Control Simulation, Process Simulation, Immersive Simulation}, Service {Consulting, Installation & Deployment, Maintenance & Support}), By Simulation Environment (Console Operator Training, Field Operator Training), By End-use (Aerospace & Defense, Chemical, Energy & Power, Healthcare, Industrial, Oil & Gas, Pulp & Paper), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/operator-training-simulator-market
 

The utilization of remote software solutions by the evolving chemical sector for different applications to spur the market value

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The chemical end-use segment is expected to account for 9% of the market share by 2027. Participants are implementing advanced technologies across facilities to monitor the different aspects of a facility. Facility upgrading will enhance several processes including training, thus increasing technology demand. For instance, in January 2021, Protomation completed a 15-day remote factory acceptance test on a Hydrogen Peroxide to Propylene Oxide (HPPO) plant of Thyssenkrupp Industrial Solutions AG. The test was concluded after assessing different scenarios encompassing shutdowns and start-ups of the facility. This move will help the company in developing a customized operator training simulator program to train the operators about the facility.
 

The robust functionality of the technology across multiple sectors will support market demand in European region

Europe operator training simulator market size is estimated to reach USD 5 billion by 2027. The growing acceptance of operating training simulators in different industries owing to their applicability will stimulate the regional growth. Solution developers are building customized systems for operators to train in realistic scenarios, thus fueling technology demand in several sectors.
 

Companies are focusing on R&D to launch innovative solutions

Prominent players 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. Leaders are focusing on introducing innovative technologies in their operating training simulator solutions to gain a market share. For instance, in May 2021, CORYS Simulation (HyperionRSI Simulation) announced its participation in developing VR and digital twins for new reactors with Human Design Group, Theoris, and EDF.