Cyber-Physical System Market Size 2018 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2028

20 day(s) ago

Future Market Insights (FMI) has published a new market research report on cyber-physical systems. The report has been titled “Cyber-Physical System Market: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028).” With the lowering prices of devices such as sensors, several medium and small scale manufacturers and plant owners are shifting their focus towards the deployment of cyber-physical systems in order to convert them into smart factories. These type of cyber-physical systems not only help in eliminating errors that occur due to human intervention but also decrease the overall operational and production costs of a plant.

According to the report, the global cyber-physical system market is expected to witness a CAGR of 8.7% during the period 2018 – 2028. The market was worth US$ 55,075.3 Mn in 2017 and is likely to reach a valuation of US$ 137,566.0 Mn by the end of 2028.

It is always wise to invest in the latest technology instead of being a laggard in terms of technology adoption. Both developed and developing countries are adopting smart technologies to enable a seamless work experience. With this, the demand for cyber-physical systems is also gaining traction across the globe, thereby compelling service providers and vendors to collaborate with solution providers and integrate various communication platforms in order to push the implementation of cyber-physical systems. The core strategies that several cyber-physical system providers are implementing are investment in research and development and partnerships with research organizations for product development. Some of the companies operating in the global cyber-physical system market are Dell EMC, Hewlett Packard Enterprises, IBM Corporation, VMware Inc., SAP SE, Schneider Electric, and Oracle.

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