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Cyber-Physical System Market Will hit at a CAGR of 8.7% From 2018 to 2028

VALLEY COTTAGE, New York, April 16, 2018 /PRNewswire/ --

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.

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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.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/REP-GB-4498

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.

Decreasing Prices of Networking and Sensors to Boost Adoption 

The principal components of a cyber-physical system are storage units, sensors, computing unit, software, and actuators. The declining prices of sensors reduce the overall cost associated with the system, which makes it achievable for small- and medium-sized enterprises. This in turn drives the adoption and application of cyber-physical systems across various industries. Furthermore, the growing economy of several developing economies is benefiting the adoption of cyber-physical systems across the globe. The average household income of developing countries such as India, China, and Brazil among others is anticipated to increase significantly in the coming years. This will shoot up the demand and adoption of new technologically advanced systems such as IoT and CPS, as these nations have witnessed a transition in their spending behavior, and have shown positive adaptability towards such systems for an enhanced end user experience. The swelling economic growth of several developing countries is expected to drive the global cyber-physical system market.

Preview Analysis Global Cyber-Physical System Market Segmentation By Component- Hardware, Software, Services; Vertical- Aerospace and Defense, Automotive, Energy and Utility, Healthcare, Manufacturing, Consumer Electronics, Others: https://www.futuremarketinsights.com/reports/cyber-physical-systems-market

Data Breaches and Security Threats to Obstruct Market Growth 

The core factor limiting the growth and adoption of cyber-physical systems is the dearth of security associated with these systems. As any type of system is linked with the cloud, it becomes susceptible to cyber-attacks and data breaches. Moreover, the change from a closed system to an open system has further made way for this risk. As the application of cyber-physical systems is in industries such as manufacturing, healthcare, and automotive, among others, it comprises valuable data and information that could lead to a catastrophe under a data attack. Consequently, with the threat of compromising critical data, many industries are hesitant in adopting cyber-physical systems. This can restrain market growth to a certain extent.

Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-4498

More from FMI's Electronics, Semiconductors, and ICT Market Intelligence: 

  • Smart Home Devices Market segmentation by Devices- Lighting Control Devices: Dimmers, Switches, Sensors, Others; Security and Control Devices: Video Surveillance, Access Control, Fire and Smoke Detectors; Entertainment Devices, Healthcare Devices, Kitchen and Home Appliances, Energy Management Devices, HVAC; Services- Professional Services, Managed Services; Application- Building Energy Management, Security and Surveillance, Lighting, HVAC, Others: https://www.futuremarketinsights.com/reports/smart-home-devices-market

About Us 

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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