Global Cyber-Physical Systems Market Share: Growing Importance, Emerging Trends and Future Prospects

The global?cyber-physical systems (CPS) industry?size was nearly $76.98 billion in 2021 and is set to increase to about $117.57 billion by 2030 with a CAGR of nearly 8.01% between 2022 and 2030.

Cyber-Physical Systems (CPS) Market – Overview

Cyber-physical systems (CPS) are the integration of cyber systems and physical systems. Moreover, nearly all the products used across the globe and advanced manufacturing tools used to manufacture these products are cyber-physical systems. Industry 4.0 revolution has led to?automation?and information exchange in manufacturing systems apart from digitization of manufacturing sector. Industry 4.0, also referred to as Industry 4.0 revolution, includes cloud computing, cyber-physical systems, connected things,?cognitive computing, and cloud computing.

This fourth industrial revolution introduced the concept of smart factories. In these smart factories, cyber-physical systems monitor the operations of physical processes, make a virtual copy of these processes, and help the firm make decentralized decisions. These cyber-physical systems communicate & cooperate with one another and with humans in real time through the use of?IoT technology.

Moreover, cyber-physical systems are smart network solutions with fitted sensors, embedded processors, and embedded actuators designed for sensing and interacting with the physical world. In addition, these systems aid real-time applications and guarantee improved performance in safety-critical applications. In CPS systems, computing, sensing, control, and networking is integrated into each component of the CPS systems. Some examples of cyber-physical systems are robots, airplanes flying in controlled airspace, and?smart buildings.

Key Insights

• As per the analysis shared by our research analyst, the global cyber-physical systems (CPS) market is estimated to expand annually at a CAGR of around 8.01% over the forecast period (2022-2030)
• In terms of revenue, the global cyber-physical systems (CPS) market was valued at nearly USD 76.98 billion in 2021 and is predicted to hit USD 177.57 billion by 2030
• The global cyber-physical systems (CPS) industry is slated to expand at a remarkable rate owing to the massive penetration of cyber-physical systems in various sectors including energy, healthcare, and network mobility
• Based on component, the cyber-physical system hardware segment is predicted to account for a major market share over the forecast period
• On basis of vertical, the energy and utility segment is predicted to dominate the global market share over 2022-2030
• On the basis of country, the U.S. and Germany are anticipated to be the major regional revenue pockets for the global cyber-physical systems (CPS) market from 2022 to 2030

The growth of the global cyber-physical systems (CPS) industry over the forecast timeline can be attributed to the large-scale penetration of cyber-physical systems in autonomous cars, home sensors, and farming activities. Furthermore, advancements in data analytics and robotics will pave huge demand for cyber-physical systems. As per the International Federation of Robotics, in 2020, robotics deployment in food & beverages increased by nearly 3%, thereby accounting for about 12% of overall industrial robotics deployments across the globe. Moreover, the use of cyber-physical systems robots in the food processing industry is predicted to curtail labor costs and increase operational efficiency. This, in turn, is likely to boost global business trends.

Growing Leading Players:

1. IBM Corporation
2. SAP SE
3. Honeywell International Inc.
4. Oracle Corporation
5. Hitachi Vantara Corporation
6. Schneider Electric SE
7. SAP SE
8. Microsoft Corporation
9. The Hewlett Packard Enterprise Company
10. VMware Inc.
11. Dell EMC.

FREQUENTLY ASKED QUESTIONS

• Which key factors will influence Cyber-Physical Systems (CPS)market growth over 2022-2030?
• What will be the value of the cyber-physical systems (CPS) market during 2022-2030?
• Which countries will contribute notably towards the cyber-physical systems (CPS) market value?
• Which are the major players leveraging the growth of cyber-physical systems (CPS) market?
• What will be the size of the global Cyber-Physical Systems (CPS) market in 2030?

Recent Developments:

• In October 2022, the Government of India launched a cyber-physical systems program dealing with autonomous cars, aircraft navigation tools, and unmanned vehicles. Reportedly, the program will help in promoting research and development activities in India.

This review is based on a report by Zion Market Research, titled?“Cyber-Physical Systems (CPS) Market By Component (Cyber-Physical System Software, Cyber-Physical System Hardware, and Cyber-Physical System Services), By Vertical (Healthcare, Aerospace & Defense, Consumer Electronics, Automotive, Manufacturing, Energy & Utility, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”-?Report at?https://www.zionmarketresearch.com/report/cyber-physical-systems-market