Operator Training Simulator Market Growth to Propel Based on Increasing Awareness for Workplace Safety Till 2025 | Million Insights

Operator Training Simulator Market Growth to Propel Based on Increasing Awareness for Workplace Safety Till 2025 | Million Insights

PR Newswire

FELTON, California, May 21, 2020

FELTON, California, May 21, 2020 /PRNewswire/ -- The global Operator Training Simulator Market size is projected to touch USD 12581.0 million by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 11.6% over the estimated duration. Factors such as increasing investment in various training programs for site workforce, growing awareness for workplace safety, and easy accessibility of innovative platforms coupled with the latest technologies such as VR, AI, and 3D displays are projected to fuel the market growth over the forecast years.

The simulation is used for the past many years in various industries such as military, energy, airline, and nuclear power. Government regulations are the prime factors promoting the application of OTS across various industries to equip the workforce with necessary safety skills when they encounter any unforeseen circumstance. For example, Hydrocarbon Process Industries (HPI) has been using OTS for more than three decades. The increasing uses of digital panel and analog simulator have resulted in drastically reducing the cases of accidents. Therefore, this factor is projected to proliferate the sales of OTS solution over the forecast duration.

A training simulator is first used in a production site than in the plant, which makes training feasible for workers and engineers. It helps in improving the skills of workers and enhances their efficiency and productivity. Industries are considering providing on-the-job training programs for developing skills of workers. Therefore, industries are continuously investing in various simulation solutions to equip operators with several skills with the help of scheduled training sessions.

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The leading players in the operator training simulator market are Honeywell International Inc., Siemens, Mynah Technologies LLC, ABB, AVEVA Group plc, CORYS, Aspen Technology, Inc., and Andritz. The market is highly competitive due to the presence of key manufacturers. The companies are relying on their existing customers to boost the adoption of OTS. Also, companies are emphasizing on different initiatives such as continuous product innovation and development of new technology to modify their product portfolio.

Further key findings from the report suggest:

Browse 130 page research report with TOC on "Global Operator Training Simulator Market" at: https://www.millioninsights.com/industry-reports/global-operator-training-simulator-market

Million Insights has segmented the operator training simulator market based on component, operator type, end use, and region:

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