The size of the global market for cyber-physical systems is projected to increase from US$ 86,979.6 million in 2022 to US$ 137,566.0 million in 2028. From 2022 to 2028, the market for cyber-physical systems is projected to expand at a CAGR of 7.9%. Nearly 40% of the global market for information security was accounted for by the cyber-physical system market.
In the upcoming years, it is projected that the market for cyber-physical systems would expand significantly. This can be attributed to the growing use of cyber-physical system hardware and software in a variety of applications, such as the smart grid, embedded systems, autonomous medical monitoring, industrial control systems, and industrial robotics systems. The cyber-physical systems market is a rapidly growing industry that involves the integration of physical and cyber systems to create intelligent and connected systems.
These systems are used in a wide range of industries, including manufacturing, transportation, healthcare, and energy, and can improve efficiency, safety, and overall performance. Some of the key market players in the cyber-physical systems industry include Siemens, GE, Cisco, and Rockwell Automation. The market is expected to continue growing in the coming years, driven by factors such as the increasing adoption of the Internet of Things (IoT), advancements in technology, and a growing demand for smart and connected systems.
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What growth strategies are influencing the development of the market for cyber-physical systems?
High adoption of systems managing the cyber-physical infrastructure is a result of process automation becoming more and more widespread in sectors including industry, energy, healthcare, and agriculture. The use of cyber-physical systems provides improved production process detection, measurement, and monitoring, which reduces or rather eliminates manual errors in a variety of industries.
Demand for a shift to digitalization and automation is rising, which minimises human work and mistakes. Thus, rising economic growth across developing nations and shifting consumer spending patterns encourage the demand for and uptake of new, cutting-edge technology, like embedded systems and the Internet of Things (IoT).
Competitive landscape
Many key cyber-physical system manufacturers are inclined at investing heavily in product innovation, R&D practices to uncover increased applications of cyber-physical systems. With the use of technology, vendors also try to accelerate its business transformation and growth objectives by increasing their partner base.
- In December 2017, Hitachi Vantara strengthened its partner program by adding a new distributor, immix Group, to its partner base. The company intends to enhance its partner program distribution channel by enabling its partners to grow their business, and to sell Hitachi Vantara Federal’s extensive portfolio of products, solutions, and services.
Key companies profiled
- IBM Corporation
- Microsoft Corporation
- Dell EMC
- VMware Inc.
- Hewlett Packard Enterprise
- Schneider Electric
- SAP SE
- Honeywell International Inc.
- Hitachi Vantara
- Oracle
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Cyber-Physical System Market Survey by Category
By Component:
- Cyber-Physical System Hardware
- Cyber-Physical System Software
- Cyber-Physical System Services
By Vertical:
- Aerospace and Defense
- Automotive
- Energy and Utility
- Healthcare
- Manufacturing
- Consumer Electronics
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- Asia Pacific
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Background
3.1. Macroeconomic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunity Analysis
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