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Virtual Sensors Market 2019 Globally Grow at a CAGR of 29.1% by 2026: General Electric, Cisco, Honeywell, Siemens, Schneider Electric, Elliptic Labs, Algorithmica Technologies, Exputec, Tactile Mobility, Intellidynamics

06-17-2019 05:23 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Market Prognosis

Virtual Sensors market is accounted for $176.53 million in 2017 and is expected to reach $1,758.51 million by 2026 growing at a CAGR of 29.1%. The rising factors are offering agility, easy to deploy, predictive maintenance, the potential reduction in the time, growing implementation of the IoT cloud platforms. However, concerns regarding data security owing to the use of cloud, lack of awareness are the factors that may hamper the growth of the global virtual sensors market.

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A virtual sensor is a software sensor as opposed to a physical or hardware sensor. Virtual sensors provide indirect measurements of abstract conditions (that, by themselves, are not physically measurable) by combining sensed data from a group of heterogeneous physical sensors.

Some of the key players involved in Virtual Sensors market are General Electric, Cisco, Honeywell, Siemens, Schneider Electric, Elliptic Labs, Algorithmica Technologies, Exputec, Tactile Mobility, Intellidynamics, Andata, Aspen Technology, Osisoft, Modelway, LMI Technologies.

Based on Component, the Solutions segment is a global Virtual sensor help organizations to projected product properties or process conditions based on mathematical models. The mathematical models estimate the desired values based on the inputs from the multiple physical sensors.

By Geography, North America is expected to have the largest market size and dominate the global virtual sensors market from 2018 to 2023. This region majorly has a high consolidation of large multinational companies, which largely subsidize to the growth of the market.

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Market Segments:
Components Covered:
• Solutions
• Services

Deployments Covered:
• On-Premises
• Cloud

End-Users Covered:
• Aeronautics and Defense
• Automotive and Transportation
• Chemical
• Electrical, Electronics, and Consumer Technology
• Healthcare
• Oil and Gas
• Process Industry - Manufacturing and Utilities
• Other End Users

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

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