Virtual Sensors Market by Component (Solutions and Services), Deployment Mode (Cloud and On-Premises), End User (Process Industry - Manufacturing and Utilities, Automotive and Transportation, and Oil and Gas), and Region - Global Forecast to 2023
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1.1 Breakup of Primary Profiles
2.1.1.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Forecast
2.4 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Virtual Sensors Market
4.2 Market, By Component, 2018–2023
4.3 Market, By Deployment Mode, 2018 & 2023
4.4 Market, By End User, 2018
4.5 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Predictive Maintenance and Potential Reduction in the Time and Cost Compared to Physical Sensors is Driving the Virtual Sensors Market
5.2.1.2 Rising Adoption of IoT and Cloud Platforms
5.2.1.3 Predominant Use of IIoT for Design and Manufacturing
5.2.2 Restraints
5.2.2.1 Risks Associated With Data Security Due to the Use of IoT and Cloud Platforms
5.2.3 Opportunities
5.2.3.1 Promising Prospects for the Virtual Sensor Technology in the Automobile and Aerospace Industries
5.2.4 Challenges
5.2.4.1 Lack of Awareness of the Benefits of Adopting Virtual Sensors
5.2.4.2 Lack of Skilled Workforce and Technical Knowledge
5.3 Industry Trends
5.3.1 Use Case 1: SmartuqLLC: Virtual Sensor for the Fortune 500 Heavy-Duty Engine
5.3.2 Use Case 2: Algorithmica Technologies: Virtual Sensor for Smart Condition Monitoring
5.3.3 Use Case 3: Honeywell: Virtual Sensor to Solve Powertrain Challenges
5.3.4 Use Case 4: Osisoft: Smart Sensors for Process Monitoring and Fault Detection
5.3.5 Use Case 5: Modelway: Fault-Tolerant Control of Unmanned Aerial Vehicles (UAV)
6 Virtual Sensors Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Ability to Reduce Operational Expenses and Time is Driving the Virtual Sensor Solutions Market
6.3 Services
6.3.1 Implementation, Training and Consulting Services are Playing A Vital Role in Effective Functioning of Virtual Sensors
7 Market, By Deployment Mode
7.1 Introduction
7.2 Cloud
7.2.1 Ability to Scale Up the Data Storage and Agility is Driving the Cloud Deployment Mode in Market
7.3 On-Premises
7.3.1 Ability to Have Total Control Over Sensitive Data is Driving the On-Premises Deployment Mode in Market
8 Market, By End User
8.1 Introduction
8.2 Oil and Gas
8.2.1 Oil and Gas Companies Use Virtual Sensors to Enhance Process Efficiencies and Workflows at A Lower Cost
8.3 Automotive and Transportation
8.3.1 Enhancing Safety of the Passengers and Reducing the Cost of Sensors to Drive the Adoption of Virtual Sensors
8.4 Process Industry - Manufacturing and Utilities
8.4.1 Industry 4.0 to Drive Virtual Sensors in the Process Industry - Manufacturing and Utilities Segment
8.5 Electrical, Electronics, and Consumer Technology
8.5.1 Adoption of Virtual Sensors to Support Process Automation and Improve Production Efficiency
8.6 Healthcare
8.6.1 Virtual Sensors Help Healthcare Providers in Providing Enhanced Medical Services to In-Hospital and Remotely Located Patients
8.7 Chemical
8.7.1 Virtual Sensor Solutions to Help Enhance Process Efficiency and Product Development Process in Chemical Companies
8.8 Aeronautics and Defense
8.8.1 Virtual Sensors to Help Minimize Cost of Production, Optimize Processing, and Reduce Production Time
8.9 Others
9 Virtual Sensors Market, By Region
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Increasing Demand for Home Automation to Drive the Market in the Us
9.2.2 Canada
9.2.2.1 Digital Technologies to Drive the Market in Canada
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 Growing Need to Estimate Flow Volume, Pressure, Composition and Fluid Properties in Oil and Gas Industry to Drive the UK Market
9.3.2 Germany
9.3.2.1 Increasing Use of Virtual Sensors in Industrial Robots to Propel the Growth of the Market
9.3.3 France
9.3.3.1 Virtual Sensors in Active Safety Applications in Automotive to Fuel the Growth of the Market
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 Increasing Demand for the Virtual Sensing Technology in Consumer Electronics to Drive the Virtual Sensors Market
9.4.2 Japan
9.4.2.1 Need to Reduce Investments in Physical Sensors Across Industries to Drive the Market in Japan
9.4.3 India
9.4.3.1 Increasing Use of Virtual Sensors in Health Monitoring Devices to Propel the Adoption of Virtual Sensor Solutions
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
10 Competitive Landscape
10.1 Competitive Leadership Mapping
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
11 Company Profiles
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.1 General Electric
11.2 Cisco
11.3 Honeywell
11.4 Siemens
11.5 Schneider Electric
11.6 Elliptic Labs
11.7 Algorithmica Technologies
11.8 Exputec
11.9 Tactile Mobility
11.10 Intellidynamics
11.11 Andata
11.12 Aspen Technology
11.13 Osisoft
11.14 Modelway
11.15 LMI Technologies
*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details
List of Tables
Table 1 Factor Analysis
Table 2 Virtual Sensors Market Size, By Component, 2016–2023 (USD Million)
Table 3 Solutions: Market Size, By Region, 2016–2023 (USD Million)
Table 4 Services: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Market Size, By Deployment Mode, 2016–2023 (USD Million)
Table 6 Cloud: Virtual Sensormarket Size, By Region, 2016–2023 (USD Million)
Table 7 On-Premises: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Market Size, By End User, 2016–2023 (USD Million)
Table 9 Oil and Gas: Virtual Sensors Market Size, By Region, 2016–2023 (USD Million)
Table 10 Automotive and Transportation: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Process Industry - Manufacturing and Utilities: Market Size, By Region, 2016–2023 (USD Million)
Table 12 Electrical, Electronics, and Consumer Technology: Market Size, By Region, 2016–2023 (USD Million)
Table 13 Healthcare: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Chemicals: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Aeronautics and Defense: Market Size, By Region, 2016–2023 (USD Million)
Table 16 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 17 Market Size, By Region, 2016–2023 (USD Million)
Table 18 North America: Virtual Sensors Market Size, By Component, 2016–2023 (USD Million)
Table 19 North America: Market Size, By Deployment Type, 2016–2023 (USD Million)
Table 20 North America: Market Size, By End User, 2016–2023 (USD Million)
Table 21 North America: Market Size, By Country, 2016–2023 (USD Million)
Table 22 Europe: Virtual Sensors Market Size, By Component, 2016–2023 (USD Million)
Table 23 Europe: Market Size, By Deployment Type, 2016–2023 (USD Million)
Table 24 Europe: Market Size, By End User, 2016–2023 (USD Million)
Table 25 Europe: Market Size, By Country, 2016–2023 (USD Million)
Table 26 Asia Pacific: Virtual Sensors Market Size, By Component, 2016–2023 (USD Million)
Table 27 Asia Pacific: Market Size, By Deployment Type, 2016–2023 (USD Million)
Table 28 Asia Pacific: Market Size, By Vertical, 2016–2023 (USD Million)
Table 29 Asia Pacific: Market Size, By Country, 2016–2023 (USD Million)
Table 30 RoW: Market Size, By Component, 2016–2023 (USD Million)
Table 31 RoW: Market Size, By Deployment Type, 2016–2023 (USD Million)
Table 32 RoW: Virtual Sensors Market Size, By Vertical, 2016–2023 (USD Million)
Table 33 RoW: Market Size, By Country, 2016–2023 (USD Million)
List of Figures
Figure 1 Virtual Sensors Market: Research Design
Figure 2 Research Methodology
Figure 3 Market Breakup and Data Triangulation
Figure 4 Limitations of the Study
Figure 5 Market Size, 2016–2023 (USD Million)
Figure 6 Market Analysis
Figure 7 Fastest-Growing Segments in the Market, 2018–2023
Figure 8 Increasing Use of Predictive Maintenance Techniques to Drive the Market Growth During the Forecast Period
Figure 9 Solutions Segment to Lead the Virtual Sensors Market During the Forecast Period
Figure 10 On-Premises Segment to Lead the Market During the Forecast Period
Figure 11 Process Industry-Manufacturing and Utilities Segment to Be the Leading End User for the Market in 2018
Figure 12 Market: Market Investment Scenario
Figure 13 Virtual Sensors: Drivers, Restraints, Opportunities, and Challenges
Figure 14 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 15 On-Premises Segment to Lead the Market in 2018
Figure 16 Process Industry - Manufacturing and Utilities Segment to Dominate the Virtual Sensors Market in 2018
Figure 17 North America to Hold the Highest Market Share in 2018
Figure 18 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 19 North America: Market Snapshot
Figure 20 Asia Pacific: Market Snapshot
Figure 21 Virtual Sensors Market, Competitive Leadership Mapping, 2019
Figure 22 General Electric: Company Snapshot
Figure 23 SWOT Analysis: General Electric
Figure 24 Cisco: Company Snapshot
Figure 25 SWOT Analysis: Cisco
Figure 26 Honeywell: Company Snapshot
Figure 27 SWOT Analysis: Honeywell
Figure 28 Siemens: Company Snapshot
Figure 29 SWOT Analysis: Siemens
Figure 30 Schneider Electric: Company Snapshot
Figure 31 SWOT Analysis: Schneider Electric
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