Albany, NY -- (SBWIRE) -- 11/16/2018 -- A report recently published by ResearchMoz.us, titled, " Global Cyber-Physical System (CPS) Market Size, Status and Forecast 2018-2025," is a valuable source of information on the market. It discusses the different macro-fundamentals and market specific factors influencing the growth pace of the market. It also segments the market based on different parameter to understand which segment holds out maximum promise. Further, the report throws light on the competition in the market.
At the outset, the report describes the cyber physical system (CPS) as a system that connects the physical world such objects, animals, and humans with the virtual world by processing information. To that end they make use of actuators and sensors. The CPS are comprised of a wide array of constituent parts, including communication technology, software systems, and sensors or actuators which interact with the real world, often including embedded technologies. A CPS typically comprises of components from various manufacturers or service providers.
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Examples of CPS include smart grid, medical monitoring, autonomous automobile systems, robotics systems, automatic pilot avionics, and process control systems. The global cyber physical system (CPS) market is poised to surge owing to rising application areas. In fact, industries have a great deal of opportunity to turn CPSs into an industrially applicable field. Such systems have tremendous potential to transform and better every aspect of the lives of people. They can address critical challenges facing our society with respect to security, efficiency, performance, and usability.
There are a few problems nonetheless that are negatively impacting the growth of the cyber physical system (CPS). For example, to build a CPS, a combination of various engineering competencies is needed. Those encompass both technical domains and corresponding application sectors. Hence, highly skilled workforce is needed to manage those. Despite such challenges, the global cyber physical system (CPS) market is predicted to rise with reduction in prices of sensors and other devices.
With respect to geography, the global cyber physical system (CPS) is being led by North America which accounts for considerable share. This is because the region, powered by the U.S., has always been a frontrunner in adopting latest, cutting-edge technologies. And with the incorporation of cyber-physical systems that have helped to usher in self-driving cars and medical and industrial robots, application of cyber-physical systems in the aforesaid products is expected to boom.
In order to study the global cyber physical system (CPS) market in-depth, the report segments it based on different parameters. For example, product-wise it classifies the market into software, hardware, and services. With respect to application again, it segments the market into automotive, aerospace and defense, healthcare, energy and utility, consumer electronics, and manufacturing.
Some of the key participants in the global cyber physical system (CPS) market are Microsoft Corporation, IBM Corporation, Dell EMC, Hewlett Packard Enterprise, and SAP SE.
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