Virtual Sensors Market Size, Share & Trends Analysis Report By Component (Solution, Service), By Deployment (Cloud, On-premise), By End Use (Oil & Gas, Electronics, Healthcare), By Region, And Segment Forecasts, 2019 - 2025

Published: Nov, 2019 | Pages: 110 | Publisher: Grand View Research
Industry: Technology & Media | Report Format: Electronic (PDF)

The global virtual sensors market size is expected to reach USD 1.4 billion by 2025, expanding at a CAGR of 27.2%, according to a new report by Grand View Research, Inc. Growing use of virtual sensors in the human activity recognition and in the healthcare domain is driving the market. Implementation of cloud platforms integrated with IoT applications is driving the market growth.

A virtual sensor is expected to achieve multiple objectives built for a specific purpose and result in a meta-analysis about its environment. These circuits can range from very simple to very complex design and undergo changes to produce a desired output. The device is an intangible form of sensor which is activated via two kinds of input, one from user and other from physical sensor. However, virtual sensors, in terms of capabilities are much beyond physical devices that can work individually and collectively irrespective of their physical counterparts.

Trends such as new product launches and agreements are likely to be witnessed in the market. In order to enhance industrial facilities, GE offers virtual sensors to reliantly work on predix, which is a cloud-based platform mainly used in the industrial space. Moreover, Siemens AG is working on digital twin technology for the development of virtual sensing solution for its customers. Siemens AG has developed Simcenter solution that is combining the system simulation and 3D CAE for predicting the performance parameters earlier and throughout the product lifecycle.

The solutions segment is expected to witness largest virtual sensors market share over the forecast period. This is attributed to advent of industry 4.0 and rising demand for cloud-based solutions in the manufacturing facilities. Such solutions are anticipated to promote the robot guidance operations by sensing and reducing accidents.

The market in Asia Pacific offers lucrative growth opportunities in terms of technology output, competitive advantage, and relevancy. In addition, the market witnesses a high influx of investments by stakeholders in various verticals pertaining to product development. Compliance policies and government regulations are pivotal in creating a sustainable market development. North America is expected to hold largest market share over the forecast period. This is attributed to rising demand for IoT cloud models and continuous innovations in the field of VR. In addition, growing adoption of advanced technologies among the companies in the region is driving the market growth.

Further key findings from the report suggest:

• The service segment is anticipated to witness higher growth owing to growing training and consulting activities for imparting significant knowledge and advantages of virtual sensors

• The cloud deployment segment is expected to witness a steady market growth, which can be attributed to the rise in use of IoT approach

• The aerospace and defense segment is accelerating the product demand for enhancing the passenger's safety and safer flight operations

• The key players in the virtual sensors market are Siemens AG, General Electric Company; Aspen Technologies, Inc.; Elliptic Laboratories A/S; and Tactile Mobility.

 Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Research Methodology
                   1.2 Research Scope and Assumptions
                   1.3 List of Data Sources

Chapter 2 Executive Summary
                   2.1 Virtual Sensors Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025
                   2.2 Global Virtual Sensors Market, 2014 - 2025 (USD Million)
                       2.2.1 Global virtual sensors market, by region, 2014 - 2025
                       2.2.2 Global virtual sensors market, by component, 2014 - 2025
                       2.2.3 Global virtual sensors market, by deployment, 2014 - 2025
                       2.2.4 Global virtual sensors market, by end use, 2014 - 2025

Chapter 3 Virtual Sensors Industry Outlook
                   3.1 Market Segmentation and Scope
                   3.2 Market Size & Growth Prospects
                   3.3 Virtual Sensors Market - Value Chain Analysis
                       3.3.1 Vendor landscape
                   3.4 Virtual Sensors - Market Dynamics
                       3.4.1 Market driver analysis
                           3.4.1.1 Predictive maintenance along with overall reduction in the time and cost of operations
                           3.4.1.2 Growing adoption of IoT and cloud-based platforms
                       3.4.2 Market challenges analysis
                           3.4.2.1 Lack of awareness of the benefits of adopting virtual sensors
                       3.4.3 Market opportunity analysis
                           3.4.3.1 Growth prospects for the virtual sensor technology in the aerospace industry
                   3.5 Virtual Sensors Market - Company Market Share Analysis, 2018
                   3.6 Virtual Sensors Market - Porter's Five Forces Analysis
                   3.7 Virtual Sensors Market - PESTEL Analysis

Chapter 4 Virtual Sensors Component Outlook
                   4.1 Virtual Sensors Market Share by Component, 2018
                   4.2 Solutions
                       4.2.1 Virtual sensor solutions market, 2014 - 2025
                   4.3 Services
                       4.3.1 Virtual sensor services market, 2014 - 2025

Chapter 5 Virtual Sensors Deployment Outlook
                   5.1 Virtual Sensors Market Share by Deployment, 2018
                   5.2 Cloud
                       5.2.1 Cloud virtual sensors market, 2014 - 2025
                   5.3 On-premise
                       5.3.1 On-premise virtual sensors market, 2014 - 2025

Chapter 6 Virtual Sensors End-use Outlook
                   6.1 Virtual Sensors Market Share by End Use, 2018
                   6.2 Oil & Gas
                       6.2.1 Virtual sensors market in oil & gas, 2014 - 2025
                   6.3 Automotive & Transportation
                       6.3.1 Virtual sensors market in automotive & transportation, 2014 - 2025
                   6.4 Manufacturing & Utilities
                       6.4.1 Virtual sensors market in manufacturing & utilities, 2014 - 2025
                   6.5 Electronics
                       6.5.1 Virtual sensors market in electronics, 2014 - 2025
                   6.6 Healthcare
                       6.6.1 Virtual sensors market in healthcare, 2014 - 2025
                   6.7 Aerospace & Defense
                       6.7.1 Virtual sensors market in aerospace & defense, 2014 - 2025
                   6.8 Others
                       6.8.1 Virtual sensors market in other industries, 2014 - 2025

Chapter 7 Virtual Sensors Regional Outlook
                   7.1 Virtual Sensors Market Share by Region, 2018
                   7.2 North America
                       7.2.1 North America virtual sensors market, 2014 - 2025
                       7.2.2 North America virtual sensors market, by component, 2014 - 2025
                       7.2.3 North America virtual sensors market, by deployment, 2014 - 2025
                       7.2.4 North America virtual sensors market, by end use, 2014 - 2025
                       7.2.5 U.S.
                           7.2.5.1 U.S. virtual sensors market, 2014 - 2025
                           7.2.5.2 U.S. virtual sensors market, by component, 2014 - 2025
                           7.2.5.3 U.S. virtual sensors market, by deployment, 2014 - 2025
                           7.2.5.4 U.S. virtual sensors market, by end use, 2014 - 2025
                       7.2.6 Canada
                           7.2.6.1 Canada virtual sensors market, 2014 - 2025
                           7.2.6.2 Canada virtual sensors market, by component, 2014 - 2025
                           7.2.6.3 Canada virtual sensors market, by deployment, 2014 - 2025
                           7.2.6.4 Canada virtual sensors market, by end use, 2014 - 2025
                   7.3 Europe
                       7.3.1 Europe virtual sensors market, 2014 - 2025
                       7.3.2 Europe virtual sensors market, by component, 2014 - 2025
                       7.3.3 Europe virtual sensors market, by deployment, 2014 - 2025
                       7.3.4 Europe virtual sensors market, by end use, 2014 - 2025
                       7.3.5 Germany
                           7.3.5.1 Germany virtual sensors market, 2014 - 2025
                           7.3.5.2 Germany virtual sensors market, by component, 2014 - 2025
                           7.3.5.3 Germany virtual sensors market, by deployment, 2014 - 2025
                           7.3.5.4 Germany virtual sensors market, by end use, 2014 - 2025
                       7.3.6 U.K.
                           7.3.6.1 U.K. virtual sensors market, 2014 - 2025
                           7.3.6.2 U.K. virtual sensors market, by component, 2014 - 2025
                           7.3.6.3 U.K. virtual sensors market, by deployment, 2014 - 2025
                           7.3.6.4 U.K. virtual sensors market, by end use, 2014 - 2025
                   7.4 Asia Pacific
                       7.4.1 Asia Pacific virtual sensors market, 2014 - 2025
                       7.4.2 Asia Pacific virtual sensors market, by component, 2014 - 2025
                       7.4.3 Asia Pacific virtual sensors market, by deployment, 2014 - 2025
                       7.4.4 Asia Pacific virtual sensors market, by end use, 2014 - 2025
                       7.4.5 China
                           7.4.5.1 China virtual sensors market, 2014 - 2025
                           7.4.5.2 China virtual sensors market, by component, 2014 - 2025
                           7.4.5.3 China virtual sensors market, by deployment, 2014 - 2025
                           7.4.5.4 China virtual sensors market, by end use, 2014 - 2025
                       7.4.6 India
                           7.4.6.1 India virtual sensors market, 2014 - 2025
                           7.4.6.2 India virtual sensors market, by component, 2014 - 2025
                           7.4.6.3 India virtual sensors market, by deployment, 2014 - 2025
                           7.4.6.4 India virtual sensors market, by end use, 2014 - 2025
                       7.4.7 Japan
                           7.4.7.1 Japan virtual sensors market, 2014 - 2025
                           7.4.7.2 Japan virtual sensors market, by component, 2014 - 2025
                           7.4.7.3 Japan virtual sensors market, by deployment, 2014 - 2025
                           7.4.7.4 Japan virtual sensors market, by end use, 2014 - 2025
                   7.5 Latin America
                       7.5.1 Latin America virtual sensors market, 2014 - 2025
                       7.5.2 Latin America virtual sensors market, by component, 2014 - 2025
                       7.5.3 Latin America virtual sensors market, by deployment, 2014 - 2025
                       7.5.4 Latin America virtual sensors market, by end use, 2014 - 2025
                       7.5.5 Brazil
                           7.5.5.1 Brazil virtual sensors market, 2014 - 2025
                           7.5.5.2 Brazil virtual sensors market, by component, 2014 - 2025
                           7.5.5.3 Brazil virtual sensors market, by deployment, 2014 - 2025
                           7.5.5.4 Brazil virtual sensors market, by end use, 2014 - 2025
                   7.6 MEA
                       7.6.1 MEA virtual sensors market, 2014 - 2025
                       7.6.2 MEA virtual sensors market, by component, 2014 - 2025
                       7.6.3 MEA virtual sensors market, by deployment, 2014 - 2025
                       7.6.4 MEA virtual sensors market, by end use, 2014 - 2025

Chapter 8 Competitive Landscape
                   8.1 algorithmica technologies GmbH
                       8.1.1 Company overview
                       8.1.2 Financial performance
                       8.1.3 Product benchmarking
                       8.1.4 Strategic initiatives
                   8.2 ANDATA
                       8.2.1 Company overview
                       8.2.2 Financial performance
                       8.2.3 Product benchmarking
                       8.2.4 Strategic initiatives
                   8.3 Aspen Technology, Inc.
                       8.3.1 Company overview
                       8.3.2 Financial performance
                       8.3.3 Product benchmarking
                       8.3.4 Strategic initiatives
                   8.4 Elliptic Laboratories A/S
                       8.4.1 Company overview
                       8.4.2 Financial performance
                       8.4.3 Product benchmarking
                       8.4.4 Strategic initiatives
                   8.5 General Electric Company
                       8.5.1 Company overview
                       8.5.2 Financial performance
                       8.5.3 Product benchmarking
                       8.5.4 Strategic initiatives
                   8.6 OSIsoft, LLC
                       8.6.1 Company overview
                       8.6.2 Financial performance
                       8.6.3 Product benchmarking
                       8.6.4 Strategic initiatives
                   8.7 Rockwell Automation Inc
                       8.7.1 Company overview
                       8.7.2 Financial performance
                       8.7.3 Product benchmarking
                       8.7.4 Strategic initiatives
                   8.8 Siemens AG
                       8.8.1 Company overview
                       8.8.2 Financial performance
                       8.8.3 Product benchmarking
                       8.8.4 Strategic initiatives
                   8.9 SmartuqLLC
                       8.9.1 Company overview
                       8.9.2 Financial performance
                       8.9.3 Product benchmarking
                       8.9.4 Strategic initiatives
                   8.10 TACTILE MOBILITY
                       8.10.1 Company overview
                       8.10.2 Financial performance
                       8.10.3 Product benchmarking

List of Tables

TABLE 1 Virtual sensors market - Industry snapshot & key buying criteria, 2014 - 2025
TABLE 2 Global virtual sensors market, 2014 - 2025 (USD Million)
TABLE 3 Global virtual sensors market, by region, 2014 - 2025 (USD Million)
TABLE 4 Global virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 5 Global virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 6 Global virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 7 Vendor landscape
TABLE 8 Virtual sensors market - Key market driver impact
TABLE 9 List of parameters driving the demand of virtual sensors
TABLE 10 Virtual sensors market - Key market challenge impact
TABLE 11 Virtual sensors market - Key market opportunity impact
TABLE 12 Virtual sensors solution market, 2014 - 2025 (USD Million)
TABLE 13 Virtual sensors solution market, by region, 2014 - 2025 (USD Million)
TABLE 14 Virtual sensors service market, 2014 - 2025 (USD Million)
TABLE 15 Virtual sensors service market, by region, 2014 - 2025 (USD Million)
TABLE 16 Cloud virtual sensors market, 2014 - 2025 (USD Million)
TABLE 17 Cloud virtual sensors market, by region, 2014 - 2025 (USD Million)
TABLE 18 On-premise virtual sensors market, 2014 - 2025 (USD Million)
TABLE 19 On-premise virtual sensors market, by region, 2014 - 2025 (USD Million)
TABLE 20 Virtual sensors market in oil & gas, 2014 - 2025 (USD Million)
TABLE 21 Virtual sensors market in oil & gas, by region, 2014 - 2025 (USD Million)
TABLE 22 Virtual sensors market in automotive & transportation, 2014 - 2025 (USD Million)
TABLE 23 Virtual sensors market in automotive & transportation, by region, 2014 - 2025 (USD Million)
TABLE 24 Virtual sensors market in manufacturing & utilities, 2014 - 2025 (USD Million)
TABLE 25 Virtual sensors market in manufacturing & utilities, by region, 2014 - 2025 (USD Million)
TABLE 26 Virtual sensors market in electronics, 2014 - 2025 (USD Million)
TABLE 27 Virtual sensors market in electronics, by region, 2014 - 2025 (USD Million)
TABLE 28 Virtual sensors market in healthcare, 2014 - 2025 (USD Million)
TABLE 29 Virtual sensors market in healthcare, by region, 2014 - 2025 (USD Million)
TABLE 30 Virtual sensors market in aerospace & defense, 2014 - 2025 (USD Million)
TABLE 31 Virtual sensors market in aerospace & defense, by region, 2014 - 2025 (USD Million)
TABLE 32 Virtual sensors market in other industries, 2014 - 2025 (USD Million)
TABLE 33 Virtual sensors market in other industries, by region, 2014 - 2025 (USD Million)
TABLE 34 North America virtual sensors market, 2014 - 2025 (USD Million)
TABLE 35 North America virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 36 North America virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 37 North America virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 38 U.S. virtual sensors market, 2014 - 2025 (USD Million)
TABLE 39 U.S. virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 40 U.S. virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 41 U.S. virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 42 Canada virtual sensors market, 2014 - 2025 (USD Million)
TABLE 43 Canada virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 44 Canada virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 45 Canada virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 46 Europe virtual sensors market, 2014 - 2025 (USD Million)
TABLE 47 Europe virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 48 Europe virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 49 Europe virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 50 Germany virtual sensors market, 2014 - 2025 (USD Million)
TABLE 51 Germany virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 52 Germany virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 53 Germany virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 54 U.K. virtual sensors market, 2014 - 2025 (USD Million)
TABLE 55 U.K. virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 56 U.K. virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 57 U.K. virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 58 Asia Pacific virtual sensors market, 2014 - 2025 (USD Million)
TABLE 59 Asia Pacific virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 60 Asia Pacific virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 61 Asia Pacific virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 62 China virtual sensors market, 2014 - 2025 (USD Million)
TABLE 63 China virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 64 China virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 65 China virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 66 India virtual sensors market, 2014 - 2025 (USD Million)
TABLE 67 India virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 68 India virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 69 India virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 70 Japan virtual sensors market, 2014 - 2025 (USD Million)
TABLE 71 Japan virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 72 Japan virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 73 Japan virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 74 Latin America virtual sensors market, 2014 - 2025 (USD Million)
TABLE 75 Latin America virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 76 Latin America virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 77 Latin America virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 78 Brazil virtual sensors market, 2014 - 2025 (USD Million)
TABLE 79 Brazil virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 80 Brazil virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 81 Brazil virtual sensors market, by end use, 2014 - 2025 (USD Million)
TABLE 82 MEA virtual sensors market, 2014 - 2025 (USD Million)
TABLE 83 MEA virtual sensors market, by component, 2014 - 2025 (USD Million)
TABLE 84 MEA virtual sensors market, by deployment, 2014 - 2025 (USD Million)
TABLE 85 MEA virtual sensors market, by end use, 2014 - 2025 (USD Million)

List of Figures

FIG. 1 Market segmentation and scope
FIG. 2 Virtual sensors market, 2014 - 2025 (USD Million)
FIG. 3 Virtual sensors market - Value chain analysis
FIG. 4 Virtual sensors market - Market dynamics
FIG. 5 Virtual sensors market - Company market share, 2018
FIG. 6 Virtual sensors market - Porter's five forces analysis
FIG. 7 Virtual sensors market - PESTEL analysis
FIG. 8 Virtual sensors market, by component, 2018
FIG. 9 Virtual sensors market, by deployment, 2018
FIG. 10 Virtual sensors market, by end use, 2018
FIG. 11 Virtual sensors market, by region, 2018
FIG. 12 Regional - Key takeaways
FIG. 13 North America virtual sensors market - Key takeaways
FIG. 14 Europe virtual sensors market - Key takeaways
FIG. 15 Asia Pacific virtual sensors market - Key takeaways
FIG. 16 Latin America virtual sensors market - Key takeaways
FIG. 17 MEA virtual sensors market - Key takeaways