Cyber-physical Systems Market Research Report Forecast to 2027
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Distributed Robot Garden in Massachusetts Institute of Technology; a private research university in Cambridge is the real application of cyber-physical systems. In this distributed garden, robots plant tomatoes and can sense the requirement of the individual plant. Further, as per need identified by sensors, the robot delivers the required solution to the individual plant. This type of distributed garden can resolve many issues such as sensing exact water requirement, which may reduce water wastage.
Humans are the crucial resource of an organization, in some places such as military grounds, chemical factories, human life is at risk. Owing which the demand for the artificial intelligence to replace human from dangerous places are the key driver fuelling the growth of the cyber-physical systems market. Further, advancement in embedded intelligence, cognitive computing, and artificial intelligence are attributing to open new growth opportunities for the cyber-physical systems market over the forecast period.
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Integration of various technology under one platform increases the complexity of the system, which is expected to be the major challenge for cyber-physical systems market to grow in the forthcoming years.
Europe and North America are expected to be the two major regional markets for cyber-physical systems. The technology may be useful in those areas, where the presence of humans are risky, owing to which Europe and North America are finding new ways of deploying this technology for the industrial application, successful implementation of CPS may reduce the workplace risk and can safeguard human life by nurturing the artificial environment.
Further North America and Europe are considered to be the technologically advanced region, due to this, the demand for Cyber-physical systems are projected to spur in the respective regions. Another driver for the CPS in the North America and Europe are huge dependence on automated systems is catering new avenues for an investor to invest in the particular market.
Since Cyber-physical system market is under ongoing research process, very few players are currently, investigating the need for such technology in various industrial verticals. Owing to which, the major players of different business are uniting their strengths to search more about the Cyber-physical systems technology. The key development associated with the market is mentioned below:-
The European IMC-AESOP project is undertaking by major companies such as SAP, Microsoft, Schneider Electric, and Honeywell International Inc. The objective of the project is to search and explore the applicability of cloud-based (CPS) Cyber-Physical Systems and (SOA) Service Oriented Architectures in industrial systems.
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