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The simulation learning market in the higher education size is estimated to grow at a CAGR of 12.93% between 2023 and 2028. The market size is forecast to increase by USD 754.49 million.
The report includes a comprehensive outlook on the simulation learning market in the higher education, offering forecasts for the industry segmented by Type, which comprises stem simulation learning and non-stem simulation learning. Additionally, it categorizes Deployment into on-premises and cloud-based, and covers Geography regions, including North America, Europe, APAC, South America, and Middle East and Africaa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Increased penetration of the Internet spurring widespread adoption of mobile-based learning is the key factor driving market growth. In the past few years, the number of smartphone users has increased rapidly across the globe. The rapid penetration of smartphones and tablets and growing consumer interest in customized learning have led to an increased focus on the simulation learning market in the higher education sector. Growing penetration of the Internet and increasing adoption of smartphones are expected to drive the growth of the overall e-learning market, including the simulation learning market in higher education during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The simulation learning market in the higher education report also includes detailed analyses of the competitive landscape of the market and information about 11 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
North America accounts for 36% of market growth during the forecast period.
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North American simulation learning market in the higher education sector is driven by factors such as the high adoption of advanced technologies, a strong focus on innovation and product development, and the presence of major market players. Furthermore, owing to the increasing popularity of learning, higher education institutions are investing in modern technologies that can be used to improve the learning experience for students as well as enable educators to deliver and access content from anywhere at any given point in time. This has fueled the adoption of on-cloud solutions. In addition, simulation learning provides hands-on experience in real minimally invasive surgeries. The increase in the growth of the market for minimally invasive surgery in the US will enhance the growth of the simulation learning market in the higher education sector in the region during the forecast period.
Based upon type. The market share growth by the STEM simulation learning segment will be significant during the forecast period. STEM simulation learning involves using simulations to understand scientific phenomena such as physics-related topics (engineering) or developing computational models using mathematics. Market players are devising simulations for students of STEM courses, which can supplement traditional classroom courses. The growing penetration of STEM simulation learning in developed countries will drive the growth of the STEM simulation learning segment.
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The STEM simulation learning segment showed a gradual increase in the market share of USD 247.98 million in 2018. Furthermore, the adoption of e-learning and remote education has provided opportunities for simulation-based learning to reach a wider audience. Governments worldwide are also investing in education and technology, which could provide opportunities for developing and implementing simulation-based learning in higher education. All these factors will drive the growth of the STEM simulation learning segment in the global simulation learning market in the higher education sector during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing integration of AI technologies into medical simulation is the primary trend shaping market growth. Artificial intelligence (AI) plays a major role in enhancing the quality of medical simulation, which is increasingly becoming a popular tool for augmenting the training experience of a surgeon. Furthermore, AI technology drives the future of medical simulation, as the clinical assessment of AI-supported surgical simulators supports the novel regulatory body-approved devices and assists the medical simulation into a new era of surgical education.
Consequently, the integration of AI technologies into medical simulation improves surgical simulation procedures and drives the demand for medical simulators. Thus, the growing integration of AI technologies into medical simulation will positively impact the growth of the global simulation learning market in the higher education sector during the forecast period.
Integration and compatibility issues with simulation software solutions is a challenge that affects market growth. Simulation software often needs to be integrated with other software systems and workflows to enable seamless data exchange, collaboration, and interoperability. However, achieving smooth integration can be complex and time-consuming, posing challenges for organizations seeking to incorporate simulation software into their existing infrastructure. One of the primary integration challenges lies in the compatibility of simulation software with other software tools used in the organization's workflow.
Additionally, older systems may not have the necessary capabilities or application programming interfaces (APIs) to integrate with modern simulation tools, leading to data conversion problems or limited interoperability. Organizations may need to invest in upgrading their existing systems or implementing middleware solutions to bridge the gap between different software platforms. This may impede the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Simulation Learning Market in the Higher Education Customer Landscape
The simulation learning market in the higher education report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Simulation Learning Market In The Higher Education Scope |
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Report Coverage |
Details |
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Page number |
140 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.93% |
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Market Growth 2024-2028 |
USD 754.49 million |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
12.45 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 36% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Capsim Management Simulations Inc., Edufic Digital, Forio Corp., Indusgeeks Solutions Pvt. Ltd., Infopro Learning Inc., Innovative Learning Inc., McGraw Hill LLC, Pearson Plc, Realityworks Inc., SIMmersion, and SimTutor Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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