Sensors

PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363877

PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363877

Global Virtual Sensors Market Size study & Forecast, by Component, by Deployment Type, by End User and Regional Analysis, 2023-2030

PUBLISHED: October 4, 2023

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Virtual sensors are computational algorithms or models that simulate the behavior or output of physical sensors. Instead of relying on actual sensor measurements, virtual sensors use mathematical models and data fusion techniques to estimate or predict the values of interest. They are particularly useful in situations where physical sensors may be expensive, difficult to deploy, or unable to capture specific parameters. The Virtual Sensors market is expanding because of factors such as the rising deployment of the cloud and increasing vehicle production. Virtual sensors integrate data from multiple sources, such as existing sensors, historical data, and contextual information, to generate estimates or predictions. By combining various data inputs, virtual sensors provide a more comprehensive and accurate understanding of the system being monitored. Its importance has progressively increased during the forecast period 2023-2030.

The virtual sensor cloud facilitates collaboration and sharing of virtual sensor configurations, models, and insights among users or organizations. It allows for the reuse of virtual sensor designs, promotes knowledge sharing, and fosters innovation in the development and deployment of virtual sensors. According to Statista, in 2021, the cloud storage market accounts for approx. USD 70.19 billion and expected to reach up to USD 376.67 billion by 2029. Furthermore, in 2022, Amazon Web Services was the most popular vendor in the cloud infrastructure services market, holding around 32% of the total market share, followed by Microsoft Azure with a market share of 23%, and Google Cloud with a market share of 10%. Another important factor that drives the Virtual Sensors market is increasing vehicle production. Virtual sensors help optimize the performance of vehicles during production by estimating and predicting key parameters. For example, virtual sensors estimate vehicle aerodynamics, fuel efficiency, or emissions based on design specifications and real-time data from production processes, enabling manufacturers to identify potential improvements and adjust as needed. In addition, as per Statista, in 2022, around 85 million automobiles were manufactured worldwide. This figure represents an increase of around 6% over the previous year. In 2022, China, Japan, and Germany were the top three makers of automobiles and commercial vehicles. Moreover, an increase in data-driven business and the growing popularity of digitization are anticipated to create lucrative growth opportunities for the market over the forecast period. However, technical complexity and increasing cases of data breach stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Virtual Sensors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing adoption of cloud platforms and the growing presence of key industry players in the region. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as consumer electronics and automobile production in the world, and the growing integration of sensors with consumer electronics and automobile application systems boost the virtual sensors market in the region.

Major market player included in this report are:

Siemens AG
General Electric
IntelliDynamics
Algorithmica Technologies Inc.
EXPUTEC GmbH
Schneider Electric SE
Honeywell International Inc.
Elliptic Labs AS
Cisco Systems, Inc.
Tactile Mobility Ltd.

Recent Developments in the Market:

In July 2023, Elliptic Labs, a worldwide AI software platform firm and the world leader in AI Virtual Smart Sensors is launching the AI Virtual Proximity Sensor INNER BEAUTY on the HONOUR X50 smartphone. The HONOUR X50 is a smartphone designed for the Chinese market. The HONOUR X50 is powered by Elliptic Labs' partner Qualcomm's Snapdragon 6 Gen 1 chipset. Elliptic Labs previously announced the contract for this launch.

Global Virtual Sensors Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Deployment Type, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.

By Component

Solution
Services

By Deployment Type

Cloud
On-Premises

By End User

Oil and Gas
Automotive and Transportation
Process Industry - Manufacturing and Utilities
Electrical, Electronics and Consumer technology
Healthcare
Chemical
Aeronautics and Defense
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Virtual Sensors Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Virtual Sensors Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Virtual Sensors Market, by Deployment Type, 2020-2030 (USD Billion)
- 1.2.4. Virtual Sensors Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Virtual Sensors Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Virtual Sensors Market Dynamics

3.1. Virtual Sensors Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Rising deployment of cloud
  - 3.1.1.2. Increasing vehicle production
- 3.1.2. Market Challenges
  - 3.1.2.1. Technical complexity
  - 3.1.2.2. Increasing cases of data breach
- 3.1.3. Market Opportunities
  - 3.1.3.1. Increase in data-driven business
  - 3.1.3.2. Growing popularity of digitization

Chapter 4. Global Virtual Sensors Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Virtual Sensors Market, by Component

5.1. Market Snapshot
5.2. Global Virtual Sensors Market by Component, Performance - Potential Analysis
5.3. Global Virtual Sensors Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Virtual Sensors Market, Sub Segment Analysis
- 5.4.1. Solution
- 5.4.2. Services

Chapter 6. Global Virtual Sensors Market, by Deployment Type

6.1. Market Snapshot
6.2. Global Virtual Sensors Market by Deployment Type, Performance - Potential Analysis
6.3. Global Virtual Sensors Market Estimates & Forecasts by Deployment Type 2020-2030 (USD Billion)
6.4. Virtual Sensors Market, Sub Segment Analysis
- 6.4.1. Cloud
- 6.4.2. On-Premises

Chapter 7. Global Virtual Sensors Market, by End User

7.1. Market Snapshot
7.2. Global Virtual Sensors Market by End User, Performance - Potential Analysis
7.3. Global Virtual Sensors Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Virtual Sensors Market, Sub Segment Analysis
- 7.4.1. Oil and Gas
- 7.4.2. Automotive and Transportation
- 7.4.3. Process Industry - Manufacturing and Utilities
- 7.4.4. Electrical, Electronics and Consumer technology
- 7.4.5. Healthcare
- 7.4.6. Chemical
- 7.4.7. Aeronautics and Defense
- 7.4.8. Others

Chapter 8. Global Virtual Sensors Market, Regional Analysis

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Virtual Sensors Market, Regional Market Snapshot
8.4. North America Virtual Sensors Market
- 8.4.1. U.S. Virtual Sensors Market
  - 8.4.1.1. Component breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2. Deployment Type breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3. End User breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Virtual Sensors Market
8.5. Europe Virtual Sensors Market Snapshot
- 8.5.1. U.K. Virtual Sensors Market
- 8.5.2. Germany Virtual Sensors Market
- 8.5.3. France Virtual Sensors Market
- 8.5.4. Spain Virtual Sensors Market
- 8.5.5. Italy Virtual Sensors Market
- 8.5.6. Rest of Europe Virtual Sensors Market
8.6. Asia-Pacific Virtual Sensors Market Snapshot
- 8.6.1. China Virtual Sensors Market
- 8.6.2. India Virtual Sensors Market
- 8.6.3. Japan Virtual Sensors Market
- 8.6.4. Australia Virtual Sensors Market
- 8.6.5. South Korea Virtual Sensors Market
- 8.6.6. Rest of Asia Pacific Virtual Sensors Market
8.7. Latin America Virtual Sensors Market Snapshot
- 8.7.1. Brazil Virtual Sensors Market
- 8.7.2. Mexico Virtual Sensors Market
8.8. Middle East & Africa Virtual Sensors Market
- 8.8.1. Saudi Arabia Virtual Sensors Market
- 8.8.2. South Africa Virtual Sensors Market
- 8.8.3. Rest of Middle East & Africa Virtual Sensors Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Siemens AG
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Recent Developments
- 9.3.2. General Electric
- 9.3.3. IntelliDynamics
- 9.3.4. Algorithmica Technologies Inc.
- 9.3.5. EXPUTEC GmbH
- 9.3.6. Schneider Electric SE
- 9.3.7. Honeywell International Inc.
- 9.3.8. Elliptic Labs AS
- 9.3.9. Cisco Systems, Inc.
- 9.3.10. Tactile Mobility Ltd.

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Virtual Sensors Market, report scope
TABLE 2. Global Virtual Sensors Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Virtual Sensors Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 4. Global Virtual Sensors Market estimates & forecasts by Deployment Type 2020-2030 (USD Billion)
TABLE 5. Global Virtual Sensors Market estimates & forecasts by End User 2020-2030 (USD Billion)
TABLE 6. Global Virtual Sensors Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Virtual Sensors Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Virtual Sensors Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Virtual Sensors Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Virtual Sensors Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Virtual Sensors Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Virtual Sensors Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Virtual Sensors Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Virtual Sensors Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Virtual Sensors Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Virtual Sensors Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Virtual Sensors Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Virtual Sensors Market
TABLE 71. List of primary sources, used in the study of global Virtual Sensors Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Virtual Sensors Market, research methodology
FIG 2. Global Virtual Sensors Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Virtual Sensors Market, key trends 2022
FIG 5. Global Virtual Sensors Market, growth prospects 2023-2030
FIG 6. Global Virtual Sensors Market, porters 5 force model
FIG 7. Global Virtual Sensors Market, pest analysis
FIG 8. Global Virtual Sensors Market, value chain analysis
FIG 9. Global Virtual Sensors Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Virtual Sensors Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Virtual Sensors Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Virtual Sensors Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Virtual Sensors Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Virtual Sensors Market, regional snapshot 2020 & 2030
FIG 15. North America Virtual Sensors Market 2020 & 2030 (USD Billion)
FIG 16. Europe Virtual Sensors Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Virtual Sensors Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Virtual Sensors Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Virtual Sensors Market 2020 & 2030 (USD Billion)

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

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