Technological progressions have led to a conversion towards automation and digitalization to reduce human tasks and errors. Many regions such as North America, Europe, China, and Japan, among others incessantly focus on innovating the existing products and on implementing all technological advancements in their products to transit towards automation.
The affluence in operation and user friendliness offered by such products results in an increased demand for the same. Cyber-physical systems promote the link between the cyber and physical, which is driven by the high demand for digitalization and automation.
The U.S. and European countries are presently projected to remain the important regions in the global cyber-physical system market, owing to the presence of advanced technologies and relevant skilled labor to implement CPS, and increasing adoption of CPS for applications such as smart factories and smart grids. Significant market potential exists in countries in the Asia Pacific, such as India, China, and Japan.
Among all the regions, North America is expected to be at the forefront
North America is always at the forefront when it comes to the adoption of any new or flourishing technology. The incorporation of cyber-physical systems in the region has enabled the introduction of automated products such as autonomous or self-driving cars, medical robots that are employed for complex surgeries, and industrial robots as a replacement for human labor, among others. Manufacturing industries in the region are continuously focusing on introducing a larger volume of such automated products, with the intention of offering a seamless experience to end users.
As technology is expected to advance, and as artificial intelligence is expected to proliferate, the application of cyber-physical systems in the aforesaid products is expected to boom in North America. Moreover, the research and development initiatives in the region is further a much needed addition for market development. For instance, in 2014, the University of Pennsylvania participated with NSF (National Science Foundation) to advance cyber-physical systems with medical applications.
NSF is continuously advancing its research on healthcare systems to introduce robotic surgery and interoperable personalized medical devices. The declining prices of sensors and other devices is also anticipated to have a positive impact on the growth of the market.
Western Europe is expected to slowly catch up with North America in terms of adoption
The European Commission is known for investing heavily on the research and development of new products and for the adoption of new products and services. Due to the benefits associated with cyber-physical systems and the intricacies associated with the employment of the same, initiatives have been taken by the governments of various nations by investing some sums of money for allowing the implementation of the same in their respective nations.
This encourages the adoption of cyber-physical systems, which as a result boosts the growth of the cyber-physical system market in Europe. Western Europe is in the limelight in the global market because of the presence of leading players in the region who are constantly innovating in order to stay competitive in the market and also to retain their user base in both Western and Eastern Europe.
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