Global Cyber-Physical Systems Market By Component (Hardware, Software, Services), By Deployment (On Premise, Cloud), By Vertical (Automotive, Energy & Utility, Healthcare, Manufacturing, Consumer Electronics, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027
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 monitored or controlled by computer-based processes and is highly integrated with the internet and 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 a reduction in various manual workloads, which has led to increasing the performance of the machines, driving the CPS market. Furthermore, increasing penetration of the internet and the growing need for better-secured process is also driving the demand for the cyber-physical systems market. As cyber-physical systems help improve business infrastructures' performance, efficiency, and security, many organizations are adopting these systems. However, the 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
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, contributing around 35% to the total revenue generated 2018. This is because of the rising adoption of CPS in manufacturing industries to reduce or eliminate the errors which occur due to humans. These systems fix the problems, eventually saving the manufacturing units' cost and time. Furthermore, the growing adoption of advanced technologies, such as artificial intelligence, in the manufacturing sector is also encouraging companies to implement cyber-physical systems.
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 the presence of various manufacturers and vendors in the market, which is continuously investing heavily in automation. Moreover, the advancement in technology in the region and the increasing adoption of CPS by various industries to reduce manual work and eliminate human errors are some of the major factors driving the market in the area.
The North American region based on the country has been segmented as the US, Canada, and Mexico. However, the US accounts for the largest market share in the region due to the early adoption of the technology and continuous advancement in it.
Some prominent players operating in the cyber-physical systems market include 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 the global cyber-physical systems market based on component, vertical, deployment, and geography. Key segments covered in the report are as follows:
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East &Africa, Latin America)
Key questions answered in this report.
What was the market size of cyber-physical systems in 2018, and what is the forecast up to 2027?
Which is the largest regional market manufacturing in the vertical segment?
What significant trends followed in the cyber-physical systems market across different regions?
Who are the critical cyber-physical systems companies leading the market?
What key strategies are adopted by the leading cyber-physical systems companies?
Unique data points of this report
Statistics on cyber-physical systems penetration and spending worldwide
Recent trends across different regions in terms of the adoption of cyber-physical systems for various industry verticals.
Notable developments going on in the 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)
Frequently asked questions :
The market for Cyber-Physical Systems Market is expected to reach US$ 60.50 Bn in 2027.
The Cyber-Physical Systems Market is expected to see significant CAGR growth over the coming years, at 9.3%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Dell EMC, Hewlett Packard Enterprise, VMware Inc., Schneider Electric SE, Honeywell International Inc.are some of the major players in the global market.
