Cyber-Physical Systems Market – Growth, Size, Share, Forecast, industry Analysis 2019 – 2027

(prsubmissionsite) October 9, 2019 – The Cyber-Physical Systems Market Is Driven By Increasing Usage Of Internet Services And Advanced Tools

According to a new market research report published by Credence Research “Global Cyber-Physical Systems Market (Component (Hardware, Software, Services); Deployment (On Premise, Cloud); Vertical (Aerospace & Defense, Automotive, Energy & Utility, Healthcare, Manufacturing, Consumer Electronics, Others)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”, the overall cyber-physical systems market worldwide was valued at US$ 60.50 Bn in 2018 and is set to grow with a CAGR of 9.3% during the forecast period.

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Market Insights

The global market for cyber-physical systems (CPS) is strongly influenced by the growing adoption of the Internet by users worldwide. The CPS framework is used to establish communication between the network and to provide easy access to the Internet. The introduction of these systems enhances the flexibility of the overall systems and also improves the performance, reliability, productivity, safety, usability of existing industries and business infrastructure. In addition, different companies are implementing CPS programs to enhance their operation by tracking their process and finding fault in. In addition, these systems are used by various industries, including health care, power, construction, building design, agriculture and others.

Depending on the operation model, the demand for cyber-physical systems is segmented into on-site and cloud-based models. On-premise dominates the market with a share of more than 60 per cent in 2018 due to the early adoption of physical components and storage devices. Nonetheless, the cloud segment is projected to be the fastest growing market in the forecast period as different companies move to cloud services and cloud storage. Increasing the growth and adoption of cloud computing and IoT offers a number of new opportunities for cyber-physical systems to offer their expertise by taking advantage of cloud-based technology.

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Asia-Pacific is considered to be the fastest-growing region due to the increasing number of IoT devices and the increasing acceptance of automation which drives the demand in the region. Increased market penetration of internet users is a key factor for the adoption of CPS systems in the area, due to its performance and functionality in various business and other industries. Several industries and companies are investing heavily in the area due to the growing infrastructure and technological advancement that is taking place in the region. The number of mobile users in the area is growing rapidly, and growth in the telecommunications industry is another major driver of market growth.

Some of the leading players in the cyber-physical systems industry 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.

You can get the sample copy of this research by Credence Research here @