Enterprise VR training to generate $216 million in 2018

The use of VR for enterprise training is really starting to gain traction, with ABI Research predicting that the market will generate a massive $6.3 billion in 2022.

The technology intelligence company says that companies around the world are increasingly turning to VR to provide immersive training environments that accurately simulate dangerous situations will keeping travel and equipment-related expenses down.

The company predicts that the VR training market will hit $216 million in 2018.

Take up will be highest in industries with high-risk working environments such as energy, construction, and industrial and manufacturing, and these have proved to be early adopters. Providing training to people who are set to work on offshore rigs or power distribution can be costly and potentially dangerous for those involved.

"In heavy industries, VR training prevents risks associated with training hazards such as safety of trainees in the dangerous work place or accidental damage of equipment,” says Khin Sandi Lynn, industry analyst at ABI Research.

“It can save time and money for the companies by providing realistic hands on experience to trainees without any work downtime."

Time savings

Other areas that have seen VR being used effectively for training are the Aviation and Maritime industries. Training pilots and ship navigation teams previously meant committing expensive pieces of equipment to training programmes that needed intensive supervision and technical support.

Moreover, ABI’s research has found that companies that deploy VR training programmes tend to experience time savings of up to 80%.

"In fact, one of the world's largest retailers, Walmart, has deployed VR technology to train its staff. Walmart is planning to deploy the technology in its 200 training centres by the end of 2017," adds Lynn.

The momentum in VR training is picking up rapidly, despite the technology still being in its relative infancy. Many training programmes are still in the early stages of deployment, and there is huge potential for expansion into enterprise training in areas like tourism and marketing.

The ABI estimate of $6.3 billion by 2022 is based on the VR training market growing along with the predicted advancements in headsets, controllers, motion trackers and associated software.

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