Overview

Virtual Sensors Market Overview:

Global Virtual Sensors Market is calculated to value over USD 1 Billion by 2027 end and register a CAGR of over 29.9% during the forecast period 2020 to 2027.

Virtual sensors are experiencing a rising demand globally particularly in the technology, telecommunications and media sector. They are cost-effective and are more preferred over physical sensors for data storage. One primary reason for this preference is the efficiency that these sensors offer in the virtual environment as compared to physical sensors which boost the global market.

Based on the type of deployment, the market is bifurcated into cloud deployment and on-premises deployment. Cloud deployment allows employees to operate their business remotely and the enterprises save huge sums of money that they would have invested in deploying physical servers.

Component-wise, the market is fragmented into solutions and services. Vendors provide advanced features to enterprises in the form of solution packages that provide them with a comprehensive perspective towards numerous problems.

Depending on end-user, the market is categorized as process industry, automotive & transportation and oil & gas. The process industry is further segmented into manufacturing and utility sub-segment. Process industries- especially utilities and manufacturing are adopting advanced integrated systems and virtual sensors play a crucial role in making this system work efficiently which has increased the scope of this market segment worldwide.

Virtual Sensors Market Regional Insight:

The global market is regionally categorized as North America, Europe, Asia Pacific and rest of the world. Huge investments in advanced technologies by multiple enterprises and the presence of many established vendors in the region are some of the reasons for the global dominance of this market space.

Competitive Landscape:

GE
Cisco
Honeywell
Siemens
Schneider Electric
Elliptic Labs
Algorithmica Technologies
Exputec
Tactile Mobility
Intellidynamics
Andata
Aspen Tech.
Osisoft
Modelway
LMI Technologies

Virtual Sensors Market Segmentation:

By Region

North America
Europe
Asia Pacific
Rest of the World

By Deployment

Cloud
On-Premises

By Component

Solutions
Services

By End User

Process Industry - Manufacturing and Utilities
Healthcare
Automotive & Transportation
Oil & Gas
Chemical
Aeronautics and Defense
Others

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the global virtual sensors market by region, by deployment, by component, by end user
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies