The immersive simulator market is estimated to be worth USD 11.44 Billion by 2022, at a CAGR of 35.13% between 2016 and 2022. The growth of this market is majorly driven by the increasing applications in the medical industry, risk mitigation in oil and gas industries through training in immersive simulator, and ability to transfer knowledge quickly through training in immersive simulator

The immersive simulator market has been segmented on the basis of offering, simulation environment, application, industry, and geography. The market for immersive simulator hardware is expected to grow at a high CAGR on the basis of offering. The technological advancements in hardware components and the increasing number of new product launches and developments are expected to boost the adoption of hardware in industries such as automotive, food and beverages, oil and gas, chemicals, medicals, and entertainment, among others. The immersive simulator market for the training application held the largest market share among all the applications. With the rising concern toward safety, training in various industries has been increased. This, in turn, is expected to drive the market for immersive simulator for training purposes. Training using immersive simulators helps create a platform and development suite for better understanding and simplification of ideas before putting them into action on the site.

The immersive simulator market used in console operator training held the largest market share owing to its training application in process industries and product development in discrete industries. The rapid advancements in process control, along with the training in factories and plants to enhance the production process drive the growth of the market. Immersive training ensures risk mitigation in the process industries during handling or coming in contact with hazardous substances. This is expected to stimulate the demand for immersive console operations.

The immersive simulator market for the oil and gas industry held the largest market share among all industries. Immersive simulator offers the capability to see through solid structures for maintenance and inspection requirements in the oil and gas industry. Moreover, for the safety of the people working in a refinery, proper training in the operations of the assets in the plant has to be provided. This is driving the growth of the market for immersive simulators.

The immersive simulator market in APAC held the largest market share in 2015 owing to the huge demand for immersive simulators in metal and mining, oil and gas, aerospace and defense, and medical and biotech industries. Australia has added the functional use of immersive simulator in metal and mining industry, while China, Japan, and India have contributed to the market growth in the aerospace and defense sector along with the medical and biotech sector.

The immersive simulator market has been driven by the increasing applications in the medical industry, risk mitigation in the oil and gas industries through training in immersive simulator, and ability to transfer knowledge quickly through training in immersive simulator. However, the major restraining factors for the growth of this market are lack of integration between providers of immersive simulator hardware, software, and services as well as the low adoption and acceptance due to lack of awareness.

The key players in immersive simulator market such as Applied Research Associate Inc., (U.S.), Aveva Group Plc, (U.K.), ESI Group (France), Immerse Learning (U.S.), Schneider Electric SE (France), and Siemens AG, (Germany), among others are focusing on new product launches and developments, acquisitions, and collaborations strategies to enhance their product offerings and expand their business.

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