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Virtual Sensor Market is Anticipated to Witness a Significant Annual Growth Rate of 29.1% during the forecast period till 2029 | Size, Growth & Industry Report

01-28-2023 12:50 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Virtual Sensor Market is Anticipated to Witness a Significant

The Virtual Sensor Market is expanding at a higher CAGR of 29.1% over the forecast period till 2029.For Additional Insights, Click to Access Complete Report -

The factors driving growth of the Virtual Sensor Market includes increasing deployment of virtual sensor solution across end-use industries such as manufacturing, automotive and transportation, rising demand for virtualization architecture in wireless sensor networks and improvements in the living standards. Moreover, increasing use of virtual sensors for real-time monitoring, security, and surveillance in the military sector, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) and rise in the launch of innovative products, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic acquisitions and collaborations between key industry players and growing disposable incomes, are further contributing towards the market growth.

However, growth of the Virtual Sensor Market is hindered attributed to growing concerns related to security.

The prominent players operating in the market are Elliptic Labs, Aspen Technology, EXPUTEC, General Electric, Cisco, Honeywell International Inc., Tactile Mobility, IntelliDynamics, Siemens and Schneider Electric, among others.

Based on Component, the Services segment is predicted to dominate the market during the forecast period

Virtual sensors solutions provide accurate information to organizations with limited sensing position and helps in measuring difficult parameters by leveraging big data and machine learning algorithms, are some of the factors pushing growth of the segment. 

Based on Deployment Mode, the On-Premises segment is projected to hold the highest market share over the forecast period

As per the Virtual Sensor Market Trends, on-premises deployment of virtual sensors runs on customer data centers and allows companies to control and manage and control every aspect of virtual sensors, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period

Government policies promoting the manufacturing of consumer electronic goods, growing demand for virtual sensor solutions across India, China and Indonesia, rapid industrialization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.

Market Segmentation

Segmentation by Component

• Services

Segmentation by Deployment Type

• Cloud

Segmentation by End User

Oil& Gas
• Healthcare
• Manufacturing
• Automotive and Transportation
• Others

Segmentation by Region

Asia Pacific
Rest of APAC

North America
United States of America

United Kingdom
Rest of Europe

South Africa
Saudi Arabia

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland






Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

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