"Growing Digitalization is Driving the Demand for Cyber-Physical Systems Market"
Globally, the cyber-physical systems market is expected to grow with a CAGR of 9.3% during the forecast period from 2019 to 2027, and was recorded to have a market value of US$ 60.50 Bn in 2018. A cyber-physical system (CPS) is an instrument, that is monitored or controlled by computer-based processes, and are highly integrated with internet and with its users. Some of the common examples of CPS are process control systems, robotics systems, medical monitoring, smart grid, autonomous automobile systems, and automatic pilot avionics. The CPS offers a link between the physical and virtual environment.
With the rise in digitalization and automation there has been reduction in various manual workload and has led to increase the performance by the machines, which is driving the market for CPS market. Furthermore, increasing penetration of internet and growing need for better-secured process is also driving the demand for cyber-physical systems market. As the cyber-physical systems help improve the performance, efficiency, and security of the business infrastructures, large number of organizations are adopting these systems. However, increasing risk of cyber-attacks and growing cases of data breaches are likely to affect the growth of the cyber-physical systems market.
Market Synopsis
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"Cyber-Physical Systems with Manufacturing in its Vertical Segment to Continue Dominating the Market"
In 2018, the overall cyber-physical systems market was led by the manufacturing segment that dominated the market by contributing around 35% to the total revenue generated in 2018. The rising adoption of CPS in manufacturing industries to reduce or eliminate the errors, which occurs due to humans. These systems fix the problems, which eventually saves the cost and time for the manufacturing units. Furthermore, growing adoption of advanced technologies such as artificial intelligence in the manufacturing sector is also encouraging the companies to implement cyber-physical systems.
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"North America Dominated the Market by Region"
The global cyber-physical systems market was led by North America, which held a market share of over 40% in 2018. This is attributed to presence of various manufactures and vendors in the market, which are continuously investing heavily in automation. Moreover, the advancement in technology in the region and increasing adoption of CPS by various industries to reduce the manual work and eliminate the errors made by the humans are some of the major factors driving the market in the region. Based on region the North America region based on country has been segmented as US, Canada and Mexico. The US accounts the largest market share in the region due to early adoption of the technology and continuous advancement in it.
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Some of the prominent players operating in the cyber-physical systems market includes Microsoft Corporation, IBM Corporation, Dell EMC, Hewlett Packard Enterprise, VMware Inc., Schneider Electric SE, Honeywell International Inc., SAP SE, Hitachi Vantara, Intel Corporation, Oracle Corporation, and Siemens AG among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The cyber-physical systems market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global cyber-physical systems market based on component, vertical, deployment and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Component Segment (2017–2027; US$ Bn)
• Hardware
• Software
• Services
|
|
Vertical Segment (2017–2027; US$ Bn)
• Aerospace & Defense
• Automotive
• Energy & Utility
• Healthcare
• Manufacturing
• Consumer Electronics
• Others
|
|
Deployment Segment (2017–2027; US$ Bn)
• On Premise
• Cloud
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East &Africa, Latin America)
|
Key questions answered in this report
- What was the market size of cyber-physical systems in 2018 and forecast up to 2027?
- Which is the largest regional market manufacturing in vertical segment?
- What are the major trends followed in cyber-physical systems market across different regions?
- Who are the key cyber-physical systems companies leading the market?
- What are the key strategies adopted by the leading cyber-physical systems companies in market?
Unique data points of this report
- Statistics on cyber-physical systems penetration and spending worldwide
- Recent trends across different regions in terms of adoption of cyber-physical systems for various industry vertical.
- Notable developments going on in cyber-physical systems market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
