Global Cyber-Physical Systems (CPS) Market Size & Share Revenue is Expected to Grow from $76.98 Billion to $177.57 billion, At a 8.01% of CAGR During 2023-2030 | Advancements in Internet of Things (IoT) Technology Report by Zion Market Research

NEW YORK, March 23, 2023 /PRNewswire/ -- As per Zion Market Research study, The global cyber-physical systems (CPS) market size is predicted to increase from $76.98 billion in 2021 to $177.57 billion by 2030 at a CAGR of nearly 8.01% during 2022-2030.

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Cyber-Physical Systems (CPS) Market: Overview

Cyber-physical systems (CPS) are the integration of cyber systems and physical systems. Moreover, nearly all the products used across the globe and advanced manufacturing tools used to manufacture these products are cyber-physical systems. Industry 4.0 revolution has led to automation and information exchange in manufacturing systems apart from digitization of manufacturing sector. Industry 4.0, also referred to as Industry 4.0 revolution, includes cloud computing, cyber-physical systems, connected things, cognitive computing, and cloud computing.

This fourth industrial revolution introduced the concept of smart factories. In these smart factories, cyber-physical systems monitor the operations of physical processes, make a virtual copy of these processes, and help the firm make decentralized decisions. These cyber-physical systems communicate & cooperate with one another and with humans in real time through the use of IoT technology.

Moreover, cyber-physical systems are smart network solutions with fitted sensors, embedded processors, and embedded actuators designed for sensing and interacting with the physical world. In addition, these systems aid real-time applications and guarantee improved performance in safety-critical applications. In CPS systems, computing, sensing, control, and networking is integrated into each component of the CPS systems. Some examples of cyber-physical systems are robots, airplanes flying in controlled airspace, and smart buildings. 

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Key Industry Insights & Findings of the Cyber-Physical Systems (CPS) Market Reports:

• As per the analysis shared by our research analyst, the global cyber-physical systems (CPS) market is estimated to expand annually at a CAGR of around 8.01% over the forecast period (2022-2030)
• In terms of revenue, the global cyber-physical systems (CPS) market was valued at nearly USD 76.98 billion in 2021 and is predicted to hit USD 177.57 billion by 2030
• The global cyber-physical systems (CPS) industry is slated to expand at a remarkable rate owing to the massive penetration of cyber-physical systems in various sectors including energy, healthcare, and network mobility
• Based on component, the cyber-physical system hardware segment is predicted to account for a major market share over the forecast period
• On basis of vertical, the energy and utility segment is predicted to dominate the global market share over 2022-2030
• On the basis of country, the U.S. and Germany are anticipated to be the major regional revenue pockets for the global cyber-physical systems (CPS) market from 2022 to 2030

Zion Market Research published the latest report titled "Cyber-Physical Systems (CPS) Market By Component (Cyber-Physical System Software, Cyber-Physical System Hardware, and Cyber-Physical System Services), By Vertical (Healthcare, Aerospace & Defense, Consumer Electronics, Automotive, Manufacturing, Energy & Utility, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030" into their research database.

Industry Dynamics:

Cyber-Physical Systems (CPS) Market: Growth Drivers

Cyber-physical systems offer support to firms in process optimization, thereby saving costs and time. Apart from this, cyber-physical systems find applications in myriad sectors including energy, healthcare, and network mobility. For instance, these systems are used in the smart grid for energy sector and telemedicine & remote diagnostics in the healthcare sector. All these aforementioned factors will boost the expansion of the global cyber-physical systems (CPS) industry in the years ahead. In addition to this, cyber-physical systems help in linking the physical world with information technology, thereby improving the work quality and productivity as well as the revenue of the firm. Moreover, they are spatially distributed, multi-scaled, and time-sensitive systems linking the cyber world with the physical one. These features of cyber-physical systems will expand the scope of growth for the global cyber-physical systems (CPS) market.

Furthermore, experts have found that cyber-physical systems enhance the performance of production processes that can be scaled to nano manufacturing. Massive process automation activities witnessed in healthcare, farming, power, and manufacturing sectors have increased penetration of cyber physical systems in these sectors. The slew of applications of cyber-physical systems in various sectors has helped in charting a profitable growth graph for cyber-physical systems market. Apart from this, a constant decline in the costs of key components of cyber-physical systems such as storage units, sensors, actuators, and computing units will define the growth of the global cyber-physical systems industry. 

Country-Wise Insights

How will the U.S. Shape Growth of the Global Cyber-Physical Systems (CPS) Market?

The U.S. cyber-physical systems (CPS) market is projected to expand rapidly in the upcoming years with the rise in demand for cyber-physical systems from the U.S. defense and intelligence sector. Apart from this, countries such as the U.S. are investing massively in public-private partnerships across the manufacturing industry. Moreover, the U.S. National Institute of Standards and Technology (NIST) is involved in a spectrum of smart systems manufacturing systems research ventures addressing measurement-science issues and protocols in manufacturing systems. In these ventures, NIST makes use of cyber-physical systems engineering tools in the manufacturing sector. All these aforementioned aspects have made the U.S. the largest consumer of cyber-physical systems in North America.

Why Is Germany proving to be a Prominent Market for Cyber-Physical Systems in Recent Years?

Germany is predicted to be the largest user of cyber-physical systems in Europe owing to its use of smart transportation services, large consumption of smart & renewable energy, use of smart health solutions, and use of smart technologies for goods production. Apart from this, the smart city concept is gaining traction in Germany which has increased the popularity of cyber-physical systems in the country, thereby increasing the growth prospects of the cyber-physical systems industry in Germany as well as across Europe. 

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Category-Wise Insights

Why is Cyber-Physical System Hardware Segment witnessing massive demand globally?

In terms of component, the cyber-physical system hardware segment is projected to lead the global cyber-physical systems (CPS) market over the forecast period. The growth of the segment during the forecast timeline is attributed to the reduction in costs of network systems and IoT sensors. Additionally, large-scale penetration of key components of a cyber-physical system (CPS) such as monitoring devices computing units, memory units, sensors, actuators, and storage equipment in myriad sectors owing to its reduced cabling costs and natural support for mobility will boost the segmental growth.

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Why does cyber-physical systems (CPS) find lucrative applications in Energy and Utility Sector?

Based on vertical, the energy and utility segment is predicted to acquire numero uno position across the global cyber-physical systems (CPS) industry during the forecast timeline. The segmental expansion can be attributed to the large-scale use of smart grid technology in the energy and utility segment that optimizes the use of energy in the segment. 

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List of Key Players in Cyber-Physical Systems (CPS) Market:

• IBM Corporation
• SAP SE
• Honeywell International Inc.
• Oracle Corporation
• Hitachi Vantara Corporation
• Schneider Electric SE
• SAP SE
• Microsoft Corporation
• The Hewlett Packard Enterprise Company
• VMware Inc.
• Dell EMC.

Key questions answered in this report:

• What are the growth rate forecast and market size for Cyber-Physical Systems (CPS) Market?
• What are the key driving factors propelling the Cyber-Physical Systems (CPS) Market forward?
• What are the most important companies in the Cyber-Physical Systems (CPS) Market Industry?
• What segments does the Cyber-Physical Systems (CPS) Market cover?
• How can I receive a free copy of the Cyber-Physical Systems (CPS) Market sample report and company profiles?

Report Scope:

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Recent Developments

• In September 2021, IIT (Indian Institute of Technology) Guwahati introduced a center for cyber-physical systems aimed at creating indigenous technologies. Reportedly, the Indian Government is focused on developing nearly five technologies each year. Furthermore, the move will help in creating new job opportunities and boost the growth of the cyber-physical systems (CPS) industry in India.
• In November 2022, Phosphorous, a key player in the extended internet of things (xIoT) industry, joined hands with Redapt, a key provider of information technology services in the U.S. The move is aimed at providing a new generation of xIoT services across the U.S. The initiative will also help firms counter cyber-attack threats and this will expand the demand for secured cyber-physical systems in the U.S.

Global Cyber-Physical Systems (CPS) Market is segmented as follows:

Cyber-Physical Systems (CPS) Market: By Component Outlook (2023-2030)

• Cyber-Physical System Software
• Cyber-Physical System Hardware
• Cyber-Physical System Services

Cyber-Physical Systems (CPS) Market: By Vertical Outlook (2023-2030)

• Healthcare
• Aerospace and Defense
• Consumer Electronics
• Automotive
• Manufacturing
• Energy and Utility
• Others

Cyber-Physical Systems (CPS) Market: By Region Outlook (2023-2030)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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