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Global Cyber Physical System Market to Grow at a CAGR of 7.8% During 2021-2026, Driven by the Increasing Demand from the End-Use Industries

According to a new report by EMR titled, ‘Global Cyber Physical System Market Report and Forecast 2021-2026’, the global market for cyber physical system is expected to grow at a CAGR of 7.8% during 2021-2026.

The global cyber physical system industry is anticipated to grow further in the forecast period owing to the driving factors like the rising demand from end-use industries. Advancements in technology and rapid adoption of the systems have led to this shift. Increased automation in almost every sector is further acting as a catalyst for the market growth. The growing presence of key players like Microsoft (NASDAQ: MSFT) and IBM (NYSE: IBM) globally is also expected to fuel the market growth. The market is expected to be further propelled by the growing development of self-driving cars, along with drones for pathogen surveillance and package deliveries.

In September 2020, IIT Roorkee, India, announced that the institute will soon get a ‘Technology Hub’ under the National Mission of Interdisciplinary Cyber-Physical Systems (NM-ICPS). Named as ‘ihub’, the CPS comprises of the Industry 4.0 and encourages an innovative and entrepreneurial ecosystem. Under the hub, many proposals have been put forward, including the development of an AI-powered intelligent security system and an advanced multistage diagnostic tool to detect antimicrobial resistance, to name a few. Thus, the growing research and development being undertaken by private and institutional players is expected to support the industry growth in the coming years.

Market Analysis by Component, Development Type, End Use and Region:

  • The market based on component can be divided into hardware, software, and services.
  • The major development types in the market include on premises and cloud.
  • The major end use sectors in the industry are healthcare, energy, automation, agriculture, manufacturing, and transportation, among others. 
  • The regional markets for cyber physical system include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rising development of systems like drones, self-driving vehicles, medical devices, and others that are increasingly integrating cyber physical systems.
  • Rapidly changing designs and technological advancements are aiding the market growth. 
  • Increased automation of various sectors is propelling the market growth further.
  • The market is expected to witness further a further expansion in the coming years due to the increasing adoption of new and better technologies like artificial intelligence.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cyber physical system for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the components, development types, end uses, and major regions of cyber physical system.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cyber physical system market are Microsoft Corporation, IBM Corporation, Galois, Inc., National Institute of Standards and Technology (NIST), and Intel Corp, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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