According to a new market report by Lucintel, the future of the global virtual sensor market looks promising with opportunities in the automotive, aerospace & defense, electronics, chemical, oil & gas, manufacturing, and healthcare industries. The global virtual sensor market is expected to grow with a CAGR of 30% from 2020 to 2025. The major growth drivers for this market are higher adoption of IoT cloud platforms and implementation of cloud based virtual sensing solution as a standard platform.
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In this market, on-premises and cloud are the two major deployment segments. Lucintel forecasts that on-premises will remain the largest segment over the forecast period because it runs on customer data centers and allows them to control and manage all aspects of the virtual sensor.
Within this market, manufacturing will remain the largest end use industry segment over the forecast period because cost and efficiency benefits of virtual sensor are encouraging all branches of manufacturing and utility organizations to adopt virtual sensor solutions.
Asia Pacific will remain the largest region over the forecast period, as it is the largest manufacturing hub for consumer electronics and automobile production in the world.
Siemens AG, General Electric Company, Aspen Technologies, Inc., Elliptic Laboratories A/S, and Tactile Mobility are among the major manufacturers of the global virtual sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global virtual sensor market by deployment, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Virtual Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data on the trends and forecast for the global virtual sensor market by deployment, end use industry, and region as follows:
By Deployment [$M shipment analysis for 2014 – 2025]:
By End Use Industry [$M shipment analysis for 2014 – 2025]:
Oil & Gas
Electronics
Healthcare
Automotive
Aerospace & Defense
Chemical
Manufacturing
Others
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.