Global Virtual Sensors Market: Overview
The Global Virtual Sensors market is expected to grow at a significant rate, during the forecast period 2019-2025. A virtual sensor uses low-cost measurements and mathematical models to estimate a difficult to measure or expensive quantity. Virtual sensors, called sometimes soft-sensors or e-Sensors or inferential sensors are computer algorithms that generate values based on the machine-learning model of a physical process. This innovative data-driven approach offers a new, effective way of obtaining accurate readings along the entire processing chain without installing expensive hardware. Predictive maintenance, potential cost and time saving compared to physical sensors coupled with increasing adoption of the IoT cloud platforms are vital factors expected to encourage the growth of the Global Virtual Sensors market in the upcoming period.
In addition, increasing adoption internet of things applications and cloud platform are other factors estimated to accelerate the growth of the market in the upcoming years. Moreover, the growing application of virtual sensors for reducing the cost spends on the physical sensor which provides result faster than physical sensors will fuel the growth of the global Virtual Sensors market in the forecast period. Further, the growing adoption of virtual sensors for security and surveillance in the military as well as commercial sector is will contribute to the growth of the global Virtual Sensors market in upcoming years.
Additionally, upsurge in applications of virtual sensors in the aviation sector as well as the automotive sector will foster the global Virtual Sensors market.
Global Virtual Sensors Market Component analysis
On the basis of Component, the global Virtual Sensors market has been segmented into Solutions and Services. Solutions segment dominates the global Virtual Sensors Market owing to its application in enterprises to estimate accurate measures when the physical sensor is too slow and reduce operational expenses as the implementation and maintenance of physical sensors are expensive. Services segment will influence by its application to detect events and signals with configurable thresholds of severity and collect, collate, and combine signals from multiple sensors with the goal of generating business-critical events.
Global Virtual Sensors Market Deployment Mode Analysis
On the basis of Deployment Mode, the global Virtual Sensors market has been categorized into Cloud and On-Premises. Cloud segment will lead the market owing to its applications to easily deploy, offers agility, and provides more scalability than on-premises software at an affordable cost. Moreover, it enabled businesses to operate without a server infrastructure or office location, thus, enabling employees to work remotely that fuel the global Virtual Sensors Market in upcoming days. On-Premises will boost by its features like IT professionals who can monitor, track, and manage the route optimization process in real time and allows enterprises to install highly customized, secured, and complex virtual sensor solutions, which cater to the specific needs of enterprises.
Global Virtual Sensors Market End-User Industry Analysis
On the basis of End-User Industry, the global Virtual Sensors market has been segmented into Process Industry - Manufacturing and Utilities, Automotive and Transportation, and Oil and Gas. By End-User Industry, process industry mainly Manufacturing & Utilities will lead the market in the account of its application which enables machinery designing without using design prototypes, process optimization, remote monitoring, and timely data delivery in the manufacturing plants. Automotive and Transportation will trigger by growing its application in Car-2-Car communication integration, and transportation for safety, traffic management, and infotainment.
The regional analysis of Global Virtual Sensors Market
On the basis of region, the Global Virtual Sensors Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the Global Virtual Sensors market over the forecast period due to adopting digital technologies and this region is an important hub for consumer electronics products, especially for smartphones wearable devices, in which the sensor technology is used prominently. The Asia Pacific will be grown by huge demand of virtual sensors in the automotive and medical industry.
· To analyze and forecast the market size of the Global Virtual Sensors Market, in terms of value.
· To examine the careful market segmentation and forecast the market size, in terms value, on the basis of the region by segmenting Global Virtual Sensors market into five regions, namely, North America, Europe, Asia Pacific, Middle East, and their leading countries.
· To outline, categorized and forecast the Global Virtual Sensors market on the basis of vehicle type, component, deployment, and end-user industry.
· To examine competitive developments like technological advancement, services, and regulative framework within the Global Virtual Sensors Market.
· To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
· To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Global Virtual Sensors Market Competitive Landscape
Companies such as GE, Cisco, Honeywell, IntelliDynamics , Siemens Schneider Electric, Elliptic Labs, Algorithmica technologies, EXPUTEC, TACTILE MOBILITY , Aspen Technology, ANDATA, LMI Technologies, and OSIsoft are the key players in the Global Virtual Sensors market.
Key Target Audience:
· Market research and consulting firms
· Industry associations
· Global Virtual Sensors service providers
· Research organizations and consulting companies
· Global Virtual Sensors distributors
· Organizations, associations, and alliances related to Global Virtual Sensors
· Regulatory bodies
Scope of the Report
By Deployment Mode
By End-User Industry
· Process Industry - Manufacturing and Utilities
· Automotive and Transportation
· Oil and Gas
In addition, the report provides an analysis of the Global Virtual Sensors Market with respect to the following geographic segments:
· The U.S.
· Rest of Europe
Asia Pacific (APAC)
· Rest of Asia Pacific
· Rest of Latin America
· Saudi Africa
· Rest of Middle-East
Business Questions answer by the report
· How will the market drivers, restraints and opportunities affect the market dynamics?
· What will be the market size in terms of value and volume and market statistics with detailed classification
· Which segment dominates the market or region and one will be the fastest growing and why?
· A comprehensive survey of the competitive landscape and the market participant players
· Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
· With five additional company detail analysis.
· Additional country analysis.
· Detailed segment analysis.
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.5. Market Size Estimation
2.6. Assumption for the Study
2.7. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insights
4.1. Industry Impact and Forces
4.1.1. Growth Drivers
4.2. Regulatory Framework
4.3. By Company (Market Share 2018)
4.4. Growth Potential analysis, 2018
4.5. Strategic Outlook
4.6. Porter’s Five forces analysis
4.7. PESTEL Analysis
5. Global Virtual Sensors Market Overview
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast 2015-2025
5.2.1. By Component
5.2.2. By Deployment Mode
5.2.3. End-User Industry
188.8.131.52. Process Industry - Manufacturing and Utilities
184.108.40.206. Automotive and Transportation
220.127.116.11. Oil and Gas
5.2.4. By Region
18.104.22.168. North America
22.214.171.124. Asia Pacific
6. North America Virtual Sensors Market
6.1. Key Regional Trends
6.2. Market estimates & forecast, 2015-2025 (USD Million)
6.2.1. By Component
6.2.2. By Deployment Mode
6.2.3. By End-User Industry
6.2.4. By Country
7. Europe Virtual Sensors Market
7.1. Key Regional Trends
7.2. Market estimates & forecast, 2015-2025 (USD Million)
7.2.1. By Component
7.2.2. By Deployment Mode
7.2.3. By End-User Industry
7.2.4. By Country
8. Asia Pacific Virtual Sensors Market
8.1. Key Regional Trends
8.2. Market estimates & forecast, 2015-2025 (USD Million)
8.2.1. By Component
8.2.2. By Deployment Mode
8.2.3. By End-User Industry
8.2.4. By Country
9. Latin America Virtual Sensors Market
9.1. Key Regional Trends
9.2. Market estimates & forecast, 2015-2025 (USD Million)
9.2.1. By Component
9.2.2. By Deployment Mode
9.2.3. By End-User Industry
9.2.4. By Country
10. Middle East & Africa Virtual Sensors Market
10.1. Key Regional Trends
10.2. Market estimates & forecast, 2015-2025 (USD Million)
10.2.1. By Component
10.2.2. By Deployment Mode
10.2.3. By End-User Industry
10.2.4. By Country
10.2.4.1. Saudi Arabia
11. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, SWOT Analysis and Strategic Outlook)
11.5. Siemens Schneider Electric
11.6. Elliptic Labs
11.7. Algorithmica technologies
11.9. TACTILE MOBILITY
11.10. Aspen Technology
11.12. LMI Technologies