Oil & gas virtual reality (VR) training and simulation market will reach $2.24bn in 2011

Monday 28 November 2011, Amsterdam

The oil & gas virtual reality training and simulation market is being driven by a combination of increasing demand for oil & gas, the retirement of the baby boomer generation, improving technologies, and increasing safety concerns - all leading to virtual reality technologies becoming more widespread. The new study on ASDReports calculates the oil & gas virtual reality training and simulation market, defined as spending on hardware, software and maintenance of virtual reality technologies, to be worth $2.24bn in 2011.

Virtual reality refers to the use of computer technologies to generate surroundings and situations that look and even feel as if they are real. This can involve the use of computer hardware, software and visualisation tools to try to replicate real life environments or simulate realistic scenarios in order to train workers, improve reservoir engineering and safety, and aid the design and optimisation of plants. Virtual reality technologies can be partially immersive, where an image appears in three dimensions (3D), or fully immersive, where a head mounted display is used to enable the user to more fully enter a virtual world and see, touch, hear and even smell the surroundings that would appear in real life.

The report offers an examination of the oil & gas virtual reality training and simulation market over the next decade, providing detailed market forecasts for each of the 7 regional markets and offers in-depth analysis of the opportunities and challenges facing companies in the market throughout the world. The analysis is underpinned by original interviews with five of the leading companies within the industry, while the various drivers and restraints of the market are evaluated in order to provide readers with specific insights into the future direction of the oil & gas virtual reality training and simulation market.