Global Simulation Learning Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Simulation learning is the use of technology to create immersive, interactive environments that mimic real-world circumstances for instructional reasons. Simulations allow to engage in experiential learning by making decisions and experiencing outcomes in a safe environment.

Sizing and Forecast

The simulation learning market size has grown rapidly in recent years. It will grow from $17.1 billion in 2023 to $20.45 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to increased emphasis on experiential learning methodologies, rising demand for hands-on training across industries, expansion of online education and remote learning, and growth of simulation learning startups.

The simulation learning market size is expected to see rapid growth in the next few years. It will grow to $42.03 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to expansion of simulation learning, increased focus on environmental sustainability, expansion of simulation learning content libraries, rise of simulation learning ecosystems for seamless integration, and growth of simulation-based assessments. Major trends in the forecast period include integration of artificial intelligence, adoption of virtual reality, adoption of simulation learning, cybersecurity training, and technological advancements.

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Segmentation & Regional Insights

The simulation learning market covered in this report is segmented –

1) By Type: Hardware, Software
2) By Delivery Modes: Web-Based Simulation, Cloud-Based Simulation, On-Premises Simulation
3) By Applications: Medical, Enterprise, Education, Civil Aviation, Defense And Security, Other Applications

North America was the largest region in the simulation learning market in 2023. The regions covered in the simulation learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing investment in educational technology is expected to propel the growth of the simulation learning market going forward. Education technology involves utilizing digital tools and resources to enhance teaching, learning, and educational outcomes. Investments in educational technology are increasing due to growing recognition of its potential to improve learning outcomes, enhance accessibility, and adapt to evolving educational needs in a rapidly digitizing world. Simulation learning is widely employed in educational technology to provide interactive experiences for practical skill development in a controlled environment. For instance, in June 2022, according to the Department of Education, a UK-based government department, investment in edtech surged threefold and reached €1.6 billion in 2021, up from €625 million in 2020. Therefore, the increasing investment in educational technology is driving the growth of the simulation learning market.

Key Industry Players

Major companies operating in the simulation learning market are Siemens AG, Thales Group, Rockwell Automation Inc., CAE Inc., ESI Group, Ansys Inc., McGraw-Hill Education LLC, Pluralsight Inc., Laerdal Medical Corporation, D2L Corporation, Realityworks Inc., SANS Institute, Infopro Learning Inc., Mentice AB, KNOLSKAPE Solutions Private Limited, Toolwire Inc., Capsim Management Simulations Inc., Simmersion Holdings Pty Ltd, SIMTICS Limited, Indusgeeks USA Inc., Innovative Learning Solutions Inc., Forio Corporation, SimTutor Inc.

The simulation learning market report table of contents includes:

1. Executive Summary

2. Simulation Learning Market Characteristics

3. Simulation Learning Market Trends And Strategies

4. Simulation Learning Market – Macro Economic Scenario

5. Global Simulation Learning Market Size and Growth
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32. Global Simulation Learning Market Competitive Benchmarking

33. Global Simulation Learning Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Simulation Learning Market

35. Simulation Learning Market Future Outlook and Potential Analysis

 

36. Appendix

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