"Growing Digitalization is Driving the Demand for Cyber-Physical Systems Market"

Globally, the cyber-physical systems market is expected to grow with a CAGR of 9.3% during the forecast period from 2023 to 2030 and was recorded to have a market value of US$ 78.42 Bn in 2021. A cyber-physical system (CPS) is an instrument, that is monitored or controlled by computer-based processes, and is highly integrated with internet and with its users. Some of the common examples of CPS are process control systems, robotics systems, medical monitoring, smart grid, autonomous automobile systems, and automatic pilot avionics. The CPS offers a link between the physical and virtual environment.

With the rise in digitalization and automation there has been a reduction in various manual workload and has led to increase the performance by the machines, which is driving the market for CPS market. Furthermore, increasing penetration of internet and growing need for better-secured process is also driving the demand for cyber-physical systems market. As cyber-physical systems help improve the performance, efficiency, and security of the business infrastructures, large number of organizations are adopting these systems. However, increasing risk of cyber-attacks and growing cases of data breaches are likely to affect the growth of the cyber-physical systems market.

"Cyber-Physical Systems with Manufacturing in its Vertical Segment to Continue Dominating the Market"

In 2020, the overall cyber-physical systems market was led by the manufacturing segment that dominated the market by contributing around 35% to the total revenue generated in 2020.  The rising adoption of CPS in manufacturing industries to reduce or eliminate the errors, which occurs due to humans. These systems fix the problems, which eventually saves the cost and time for the manufacturing units. Furthermore, growing adoption of advanced technologies such as artificial intelligence in the manufacturing sector is also encouraging the companies to implement cyber-physical systems.

"North America Dominated the Market by Region"

The global cyber-physical systems market was led by North America, which held a market share of over 40% in 2020. This is attributed to presence of various manufactures and vendors in the market, which are continuously investing heavily in automation. Moreover, the advancement in technology in the region and increasing adoption of CPS by various industries to reduce the manual work and eliminate the errors made by the humans are some of the major factors driving the market in the region. Based on region the North America region based on country has been segmented as US, Canada and Mexico. The US accounts the largest market share in the region due to early adoption of the technology and continuous advancement in it.

Some of the prominent players operating in the cyber-physical systems market includes Microsoft Corporation, IBM Corporation, Dell EMC, Hewlett Packard Enterprise, VMware Inc., Schneider Electric SE, Honeywell International Inc., SAP SE, Hitachi Vantara, Intel Corporation, Oracle Corporation, and Siemens AG among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cyber-Physical Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Cyber-Physical Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Cyber-Physical Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Cyber-Physical Systems market?
• Which is the largest regional market for Cyber-Physical Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Cyber-Physical Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Cyber-Physical Systems market worldwide?