Futuristic Overview of AR VR for Training Market: Business Evaluation 2019-26 with Trends and Opportunities

The global market for AR VR for training Market was valued at US$ 1,606.6 Mn in 2018 and is expected to reach US$ XX Mn by the end of the forecast period, expanding at a CAGR of XX% during the period from 2019 to 2026.

Fremont, USA - January 15, 2020 /MarketersMedia/ —

Simulation and training exercises have evolved rapidly over the past few years. The evolution was imperative in order to provide the workforce with a more holistic experience that would ultimately result in a better final output. AR VR are examples of technologies that have contributed to the evolution of training & simulation exercises over the past few years. Industries such as aerospace, defense, retail, and healthcare, among others, have adopted AR VR for training purposes.

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For instance, The Camfil Group, a manufacturer of clean air products and air filters, joined hands with Mersus Technologies to develop ‘The Camfil Experience’, which is an immersive virtual reality environment used for technical training that features a digital twin of Camfil’s products. Using Oculus Go VR headsets, maintenance engineers can learn to identify, install, and maintain air filters for greater efficiency and safety. Further, The Raymond Corporation, a provider of lift trucks, uses virtual reality learning tools to improve the trainer and trainee experience. The VR simulator allows lift truck operators to learn in a virtual environment using an actual truck and controls that are plugged into Raymond’s Simulation Port (sPort). This entire exercise is performed under expert guidance. Real-time experience has garnered much popularity, especially in terms of training. This helps personnel train and work more productively.

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Based on products, head mounted displays segment captured the major chunk of the market in 2018 and is expected to display similar trends in the coming years as well. HMDs are considered appropriate for training and simulation purposes, as they provide superior realism for training and simulation applications. They are lightweight, rugged, and easy to adjust, and they provide superior image quality and performance. The defense industry is one of the largest end-users of AR VR for training purposes. Owing to the high demand for AR VR in the defense industry, in 2017, Kopin Corporation, an electronics manufacturer based in Massachusetts, launched the ‘Brillian LCD Microdisplay’, mainly for defense applications. Further, in September 2019, they announced the maiden design win for the display for an augmented reality HMD, which is to be used for army helicopter pilots.

In addition to these, in the automotive and transportation & logistics industry, several vehicle manufacturers and logistic service providers have implemented AR VR for simulation and training exercises. For instance, Volkswagen Group is using AR-enabled head mounted displays in order to present digitized training information for several procedures to make it easier for apprentices to grasp important information while working. This move should help trainees with self-teaching skills and allow them to adapt their learning behavior as per the conditions of the plant. Ford is another such company that has introduced AR, along with 3D printing and Robotics, at its new advanced manufacturing center in Michigan.

AR VR for Training Market Segmentation:

By Products: Handheld Devices, Head Mounted Displays, Smart Glass.
By Components: Camera, Sensors, IMU, Displays, Processor, Memory, Graphics, Audio, Module, Others.
By Raw Materials: Silicon, GaN, SiC, Glass, Plastic, Metals, SiC, Others.
By Services & Solutions: Documentation, Visualization, 3D modelling, Navigation, Workflow optimization, Others.
By End-Use: Healthcare, Automotive, Aerospace, Defense, Transport & Logistics, Retail, Others.

Global AR VR for Training Market:

Based on regions, North America is expected display the fastest growth in AR VR for training market  during the forecast period. Owing to its technological superiority, the U.S. is expected to maintain the lead throughout the forecast period. However, China is closing in on the U.S. to become the world leader in technology in the coming years. The Chinese market spending on augmented and virtual reality is expected to cross the US$ 66.32 Bn mark by 2022, with the CAGR expected to lie somewhere between 85% to 90%. Training and industrial maintenance are the major areas of applications for the augmented realty and virtual reality market in China.

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