Global Virtual Sensors Market will boost by increasing adoption internet of things applications and cloud platform
Published | 25 June 2019
According to BlueWeave Consulting,
The Global Virtual Sensors Market is
expected to grow with a significant rate during the forecast period 2019-2025,
due to the growing area of application of virtual sensors in the aviation
sector as well as the automotive sector. Predictive maintenance, potential cost
and time saving compared to physical sensors, and increasing adoption of the
IoT cloud platforms will foster the global Virtual Sensors Market in the
forecast period. Moreover, the major factor driving the market is growing use of virtual sensors in the industrial internet of things.
Additionally, upsurge
in applications of virtual sensors for automating business processes to improve
their production efficiency and manufacturers of electronic products such as
television, calculators, personal computers, and automotive electronics are
employing automation to meet the increasing consumer demand in a short span of
time will accelerate the growth of the Virtual Sensors market. Furthermore, the
growing use of virtual sensors for reducing the cost spend on the physical
sensor and providing result faster than physical sensors will contribute to Virtual
Sensors market growth during the forecast period. Also increasing the use of
virtual sensors technology for security and surveillance in the military as
well as commercial sector is anticipated to fuel the Virtual Sensors market
growth in the near future.
Solutions Components of
Virtual Sensors Market is projected to be the leading segment of the overall
market during the forecast period
On the basis of Component, the global Virtual
Sensors market has been segmented into Solutions and Services. Solutions
segment dominates the global Virtual Sensors Market owing to its applications to
estimate product properties or process conditions based on mathematical models
and this mathematical model estimate the desired values based on the inputs
from the multiple physical sensors. Services segment will influence by its
features like increase product quality and production efficiency, and to reduce
costs
Cloud Deployment mode
of Virtual Sensors Market is anticipated to be the dominating segment of the
overall market during the forecast period
On the basis of Deployment Mode, the global
Virtual Sensors market has been categorized into Cloud and On-Premises. Cloud segment will
lead the market due to its offers user-based pricing models, which enables
organizations to pay cloud service vendors only when the services are used,
which further reduces upfront capital expenditure related to hardware,
software, storage, and technical staff. On-Premise will boom by its features
like offers enterprises with total control over their enterprise-sensitive
data, such as customer details, product data, enterprise asset details, and
supplier data.
The process industry is
projected to lead the industry for utilizing applications of the Virtual
Sensors during the forecast period
On the basis of End-User Industry, the global
Virtual Sensors market has been segmented into Process Industry - Manufacturing
and Utilities, Automotive and Transportation, and Oil and Gas. By End-User
Industry, process industry mainly Manufacturing & Utilities will lead the
market due to its applications like optimizing the manufacturing processes of
robots, industrial machines, and processing set-ups. Automotive and
Transportation is driven its application in v2v connections and traffic light
management system.
North America accounts
for the lion’s share of the global Virtual Sensors market during the
anticipated period.
On the basis of region, the Virtual Sensors
market has been segmented into North America, Europe, Asia Pacific, Middle East
& Africa, and Latin America. North
America dominates the global Virtual Sensors market over the forecast period due
to the early adoption of virtual sensors application in healthcare wearable
devices. The Asia Pacific will grow due to increasing technology adoption in
manufacturing and electronics sector.
Global Virtual Sensors
Market Competitive Landscape
Companies such as GE, Cisco,
Honeywell, IntelliDynamics, Siemens Schneider Electric, Elliptic Labs,
Algorithmica technologies, EXPUTEC, TACTILE MOBILITY , Aspen Technology,
ANDATA, LMI Technologies, and OSIsoft are the key players in the Global Virtual
Sensors market.
Don’t miss the business opportunity of Virtual
Sensors Market. Consult our analyst and gain crucial insights and facilitate
your business growth.
The in-depth analysis of the report
provides the growth potential, upcoming trends and statistics of Global Virtual
Sensors Market size & forecast. The report promises to provide
state-of-the-art technology of Virtual Sensors production and industry insights
which help decision makers to take sound strategic decisions. Furthermore, the
report also analyzes the market drivers and challenges and competitive analysis
of the market.
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BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. Our primary forte lies in publishing more than 100 research reports annually. We have a seasoned team of analysts working only for various sub-domains like Chemical and Materials, Information Technology, Telecommunication, Medical Devices/Equipment, Healthcare, Automotive and many more. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.
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