The global virtual sensors market size is expected to reach
USD 1.4 billion by 2025, expanding at a CAGR of 27.2%, according to a new
report by Grand View Research, Inc. Growing use of virtual sensors in the human
activity recognition and in the healthcare domain is driving the market.
Implementation of cloud platforms integrated with IoT applications is driving
the market growth.
A virtual sensor is expected to achieve
multiple objectives built for a specific purpose and result in a meta-analysis
about its environment. These circuits can range from very simple to very
complex design and undergo changes to produce a desired output. The device is
an intangible form of sensor which is activated via two kinds of input, one
from user and other from physical sensor. However, virtual sensors, in terms of
capabilities are much beyond physical devices that can work individually and
collectively irrespective of their physical counterparts.
Trends such as new product launches
and agreements are likely to be witnessed in the market. In order to enhance
industrial facilities, GE offers virtual sensors to reliantly work on predix,
which is a cloud-based platform mainly used in the industrial space. Moreover,
Siemens AG is working on digital twin technology for the development of virtual
sensing solution for its customers. Siemens AG has developed Simcenter solution
that is combining the system simulation and 3D CAE for predicting the
performance parameters earlier and throughout the product lifecycle.
The solutions segment is expected to
witness largest virtual sensors market share over the forecast period. This is
attributed to advent of industry 4.0 and rising demand for cloud-based
solutions in the manufacturing facilities. Such solutions are anticipated to
promote the robot guidance operations by sensing and reducing accidents.
The market in Asia Pacific offers
lucrative growth opportunities in terms of technology output, competitive
advantage, and relevancy. In addition, the market witnesses a high influx of
investments by stakeholders in various verticals pertaining to product
development. Compliance policies and government regulations are pivotal in
creating a sustainable market development. North America is expected to hold
largest market share over the forecast period. This is attributed to rising
demand for IoT cloud models and continuous innovations in the field of VR. In
addition, growing adoption of advanced technologies among the companies in the
region is driving the market growth.
Browse full research report on Virtual Sensors Market: https://www.grandviewresearch.com/industry-analysis/virtual-sensors-market
Further key findings from the report suggest:
- The service segment is anticipated to witness higher growth
owing to growing training and consulting activities for imparting
significant knowledge and advantages of virtual sensors
- The cloud deployment segment is expected to witness a steady
market growth, which can be attributed to the rise in use of IoT approach
- The aerospace and defense segment is accelerating the product
demand for enhancing the passenger’s safety and safer flight operations
- The key players in the virtual sensors market are Siemens AG,
General Electric Company; Aspen Technologies, Inc.; Elliptic Laboratories
A/S; and Tactile Mobility.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/virtual-sensors-market/request/rs1
Grand View Research has segmented the global virtual sensors
market based on component, deployment, end use, and region:
Virtual Sensors Component Outlook (Revenue, USD Million, 2014 -
2025)
- Solution
- Service
Virtual Sensors Deployment Outlook (Revenue, USD Million, 2014 -
2025)
- Cloud
- On-premise
Virtual Sensors End-use Outlook (Revenue, USD Million, 2014 -
2025)
- Oil
& Gas
- Automotive
& Transportation
- Manufacturing
& Utilities
- Electronics
- Healthcare
- Aerospace
& Defense
- Others
Virtual Sensors Regional Outlook (Revenue, USD Million, 2014 -
2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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