Ever since the machine called computer was invented by Charles Babbage, the world has witnessed tremendous growth. The growth of almost every industry got an impetus courtesy of computers. Currently, the computer has not just shrunk in size but also loaded with numerous features that make life easy for everyone. Cyber-physical system (CPS) is primarily a computer system where the process or mechanism is tracked via algorithms that are based on computer. Cyber-physical system (CPS) basically revolves around software and physical components that are intertwined, and can be used on several types of behavioural modalities. This system is also known as intelligent system and also involves combining theories not just related to cybernetics and mechatronics, but also trans-disciplinary methods. Many factors are contributing to the growth of the cyber-physical system (CPS) market.
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The growth of the cyber-physical system (CPS) market went down in wake of the dreadful COVID-19 pandemic. Lockdown curbs imposed to curtail the spread of the life-threatening virus forced most of the industries had to shut down their processes.
One of the major factors that drives the growth of the cyber-physical system (CPS) market is surging demand for more advanced and secure automation in majority of industries. Each passing day, more industries are adopting this system ultimately helping this market grow.
Meanwhile, the growth of the cyber-physical system (CPS) market is likely to be hindered due concerns regarding high costs. Adoption of this system is a costly affair and this drags back the growth of this market.
On the other hand, the cyber-physical system (CPS) market is forecasted to witness massive growth over the period of forecast. Several factors like growth of the artificial intelligence (AI) as it is being used extensively will help this market grow rapidly.
The global cyber-physical system market was valued at US$ 85,979.6 Mn in 2021, growing at an estimated CAGR of 8.2% over the forecast period (2022 – 2030).
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By Organization Size, Large Enterprise segment will witness growth at fastest rate for The Cyber-Physical System (CPS) Market in 2022
Need for more secured automation is rapidly growing in bigger companies or enterprises. As using cyber-physical system helps in streamlining majority of procedures, ultimately resulting in optimization of costs, numerous large enterprises are adopting this system. And this is the reason why this segment will make more money compared to other segment over the period of forecast.
Asia Pacific Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Cyber-Physical System (CPS) Market
The region of Asia Pacific will take giant stride in terms of generating revenue for this market. The countries like China, India, Japan and South Korea are witnessing an industrial boom. Higher competition levels has created a need for systems that streamline multiple things helping businesses increase profitability levels. More awareness about new systems like cyber-physical system (CPS) is the reason why this region will account for the fastest growth.
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Some of the major players operating in the cyber-physical system (CPS) market are listed below:
- Cisco Systems, Inc.
- FireEye, Inc.
- Galois, Inc.
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- SAP SE
- Other Market Participants
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Global Cyber-Physical System Market Segmentation
Global Cyber-Physical System (CPS) Market has been segmented by offering, organization size, end user and region which are further classified into respective countries:
Global Cyber-Physical System (CPS) Market Offering Outlook (Revenue, USD Million, 2015 - 2030)
Global Cyber-Physical System (CPS) Market Organization Size Outlook (Revenue, USD Million, 2015 - 2030)
- Small and Medium Enterprises
- Large Enterprises
Global Cyber-Physical System (CPS) Market End User Industries Outlook (Revenue, USD Million, 2015 - 2030)
- Energy and Utilities
- Transportation and Logistics
- Oil and Gas
- Electrical and Electronics
- Military and Defence
Global Cyber-Physical System (CPS) Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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