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.
Request a sample copy or view summary of this report@
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.
About Us:
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, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment