Global Cyber-Physical Systems (CPS) Market Earnings To Hit Nearly $177.57 Billion By 2030

14-Dec-2022 | Zion Market Research

The global cyber-physical systems (CPS) industry size was nearly $76.98 billion in 2021 and is set to increase to about $117.57 billion by 2030 with a CAGR of nearly 8.01% between 2022 and 2030.

Cyber-physical systems are the systems that integrate sensing, computation, and control & networking into physical objects as well as physical infrastructure and link them with the help of the internet. Breakthroughs witnessed in cyber-physical systems are likely to improve its capability, resiliency, scalability, adaptability, security safety, and usability.

The growth of the global cyber-physical systems (CPS) industry over the forecast timeline can be attributed to the large-scale penetration of cyber-physical systems in autonomous cars, home sensors, and farming activities. Furthermore, advancements in data analytics and robotics will pave huge demand for cyber-physical systems. As per the International Federation of Robotics, in 2020, robotics deployment in food & beverages increased by nearly 3%, thereby accounting for about 12% of overall industrial robotics deployments across the globe. Moreover, the use of cyber-physical systems robots in the food processing industry is predicted to curtail labor costs and increase operational efficiency. This, in turn, is likely to boost global business trends.

However, an increase in cyber threats along with surge in cases of cyber terrorism can put brakes on the expansion of the global cyber-physical systems (CPS) market. In addition, the rise in data breaches can further create hurdles in the growth of the global industry. Nevertheless, the launching of new technologies and automation of production processes along with demand for cyber-physical systems across emerging economies has opened new horizons of growth for the global cyber-physical systems (CPS) industry.

Global Cyber-Physical Systems (CPS) Market

The global cyber-physical systems (CPS) market is divided into component, vertical, and region. 

On basis of component, the global cyber-physical systems (CPS) industry is sectored into cyber-physical system software, cyber-physical system hardware, and cyber-physical system services. Moreover, the cyber-physical system hardware segment is projected to lead the global market in the ensuing years. The segmental growth can be due to the massive demand for cyber-physical system hardware components due to reduction in its costs. Moreover, the same segment is anticipated to record the highest CAGR during the assessment period.  

Based on vertical, the global market is divided into energy & utility, aerospace & defense, automotive, manufacturing, healthcare, consumer electronics, and others. Furthermore, the energy and utility segment is anticipated to lead the overall market growth in the years ahead. The segmental expansion over the forecast timeline can be credited to the rise in the use of cyber-physical systems in the energy and utility segment. However, the automotive segment is projected to register the highest CAGR from 2022 to 2030. The growth of the segment over the forecast timeline can be attributed to the surge in the use of cyber-physical systems in cars.

The countries such as the U.S. and Germany are predicted to make major contributions toward the revenue of the global cyber-physical systems (CPS) market. The growth of the cyber-physical systems (CPS) market in the U.S. over the forecast timespan can be due to a rise in the number of vendors and manufacturers. Apart from this, the surge in acceptance of new technologies such as IoT and AI in the manufacturing industry due to the huge demand for process automation in manufacturing activities of the country will drive the industry growth in the U.S. In addition, the presence of giant players in the country will contribute majorly towards the market revenue of the country. Furthermore, the growth of the cyber-physical systems (CPS) market in Germany over the upcoming years can be credited to the presence of strong infrastructure facilities for the energy & utility, automotive, and manufacturing sectors in the country.

Key players participants in the global cyber-physical systems (CPS) industry include cyber-physical systems (CPS) market are IBM Corporation, VMware, Inc., SAP SE, The Hewlett Packard Enterprise Company, Honeywell International Inc., Hitachi Vantara Corporation, Oracle Corporation, Schneider Electric SE, Microsoft Corporation, SAP SE, and Dell EMC.

Recent Developments:

  • In October 2022, the Government of India launched a cyber-physical systems program dealing with autonomous cars, aircraft navigation tools, and unmanned vehicles. Reportedly, the program will help in promoting research and development activities in India.

This review is based on a report by Zion Market Research, titled Cyber-Physical Systems (CPS) Market By Component (Cyber-Physical System Software, Cyber-Physical System Hardware, and Cyber-Physical System Services), By Vertical (Healthcare, Aerospace & Defense, Consumer Electronics, Automotive, Manufacturing, Energy & Utility, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/cyber-physical-systems-market

The global Cyber-Physical Systems (CPS) market is segmented as follows:

By Component

  • Cyber-Physical System Software
  • Cyber-Physical System Hardware
  • Cyber-Physical System Services

By Vertical

  • Healthcare
  • Aerospace and Defense
  • Consumer Electronics
  • Automotive
  • Manufacturing
  • Energy and Utility
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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