At Virtual Training Associates (VTA), we are constantly monitoring the latest efforts in our field to assist us in our programming, as well as to help our clients with the education of their own organizations. The latest research report to come out was on March 23, 2021 from “360 Research Reports,” on the state of the industry.
Although VTA primarily concerns itself with ethical training, any piece of market research in the virtual sphere is quite valuable to us.
Continuing to Grow
The latest statistics show that in 2019, the virtual training market worldwide was close to $5 billion. Projecting out to 2026, we can expect the same market to expand to about $13.5 billion. Estimates are that the CAGR (Compound Annual Growth Rate) to skyrocket at 15.4% from 2021 to 2026. Those pessimists who felt that post-pandemic that the CAGR would plummet are simply incorrect.
Not surprisingly, many of the major corporate players incorporating and committing to virtual training are in the area of “safety” and simulation in all aspects of transportation, especially flight. Familiar names include: Boeing, FlightSafety, Airbus, Lockheed Martin and Raytheon.
We realize that this might cause a little confusion. Why would we call ourselves Virtual Training Associates if the major players were teaching are pilots, astronauts and such?
In general, virtual training is broken down into two broad areas: instructor-led training and non-instructor-supported training. VTA is obviously instructor-led. We create and then present instruction involving ethical decision making be it sports ethics, corporate ethics or ethical considerations in the non-profit, association world. We also offer virtual classes dealing with workplace issues such as sexual harassment and reputation management, including ethical abuses of social media.
Non-instructor-supported trainings are the interactive, more technical tools that are not only used in aviation but may include e-learning, digital manufacturing and healthcare.
Clearly, rather sophisticated virtual training tools have been developed that enable surgeons to perform operations and safety instructors to teach safe operations in manufacturing and building. A huge proportion of virtual technology has been used in the entertainment and gaming areas.
This We Know
However, the rapid growth of the non-instructor area portends well for the instructor-led areas. If the audience is comfortable with the training tools used in aviation, healthcare, building, entertainment or many other areas from financial to sales, why wouldn’t they be favorably inclined to “softer” virtual training skills?
We know that virtual training is in use throughout the world. Whether North America, Europe, Asia-Pacific or other regions, we know that ethical issues are remarkably the same everywhere.
For example, European-based Big Pharma have been found guilty of bribery in Asia Pacific and a major automotive manufacturer in Europe was found guilty of falsifying emissions reports for the North American market. In both cases, the issues were agreeably unethical no matter the country.
The tools used in virtual ethical training of our instructor-led courses are ever-improving. It is why Virtual Training Associates has spent so much money on a state-of-the-art production studio. It is our hope to one day achieve more interactive, ethics-based programming where we can have participants engage in real-life principled ethics situations.
Despite the pandemic, and society’s slow return to normalcy given the availability of effective vaccines, the use of virtual training will surely expand and become more sophisticated. VTA plans on being at the forefront of leading the fight on behalf of ethical behavior.
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