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Cyber-Physical System Market

Cyber-Physical System Market By Component (Cyber-Physical System Hardware, Cyber-Physical System Software, Cyber-Physical System Services), By Vertical (Aerospace and Defense, Automotive, Energy and Utility, Healthcare, Manufacturing, Consumer Electronics & Others) & By Region - Forecast to 2022 - 2028

Cyber-Physical System Market By Component (Cyber-Physical System Hardware, Cyber-Physical System Software, Cyber-Physical System Services), By Vertical (Aerospace and Defense, Automotive, Energy and Utility, Healthcare, Manufacturing, Consumer Electronics & Others) & By Region - Forecast to 2022 - 2028

Cyber-Physical System Market - Analysis, Outlook, Growth, Trends, Forecasts

Cyber-Physical System Market - Overview

[246 Pages Report] The global cyber-physical system market size is expected to grow from US$ 86,979.6 Mn in 2022 to US$ 137,566.0 Mn by 2028. The cyber-physical system market is anticipated to grow at a CAGR of 7.9% during 2022-28.

2022 Market Value

US$ 86,979.6 Mn

2028 Market Value

US$ 137,566.0 Mn

CAGR% (2022-2028)

7.9%

Share of Top 5 Market Players

30%

The cyber-physical system market accounted for almost 40% market share of global information security market. The cyber-physical system market is anticipated to show significant growth in coming years. This attributes to increasing adoption of cyber-physical system software & cyber-physical system hardware in various applications including smart grid, embedded systems, autonomous medical monitoring, industrial control systems, and industrial robotics systems.

Consumption Analysis of Cyber-Physical System Market from 2013-2021 Vs Market Outlook for 2022-2028

The global cyber-physical system market is estimated to be valued at US$ 44,200.1 Mn in 2013. The demand for cyber-physical system is expected to rise at the rate of CAGR of 7.6% during the period 2013-2021.

Expansion in North America is supported by rising adoption of technology and integration of Artificial Intelligence (AI) in various industries in recent years. Cyber-physical system hardware segment is set to register highest market share 42.4% of total cyber-physical system market share in 2022.

Cyber-physical system is a system that integrates computation, networking, and physical processes to enable a link between the physical and digital the world. Cyber-physical system used in the applications such as smart-grids for offering an efficient and optimum energy management for monitoring and controlling physical or organizational processes.

Cyber-physical system consists of hardware devices like sensors, actuators and other monitoring devices and software that enables the integration of Information Technology (IT) systems with Operational Technology (OT) systems.

Which Growth Strategies are impacting the Cyber-Physical System Market growth?

Rising adoption of process automation across industries such as energy, healthcare, agriculture, and manufacturing contributes to high adoption of systems managing the cyber-physical infrastructure. The application of cyber-physical systems enables enhanced detection, measurement, and monitoring of the production process, resulting in the reduction, or rather, elimination of manual errors across various industries.

Increasing demand for a transition towards digitalization and automation reduces human tasks and errors. Thus increasing economic growth across developing countries and changing consumer spending behavior spurs the demand and adoption of new technologically advanced systems, such as Internet of Things (IoT) and embedded systems.

The decreasing price of primary components of a cyber-physical system such as sensors, computing unit, storage units, software, and actuators is anticipated to propel the demand for the cyber-physical system market in coming years.

Country-wise insights

How will U.S. Sales of Cyber-Physical System Market Shape up?

Currently, the U.S. market anticipate for the largest consumption of cyber-physical system in North America region, and is expected to grow at 4.6% CAGR during 2022-28. The U.S. cyber-physical system market is expected reach 1.3X by 2028.

The U.S. cyber-physical system market witness significant development in coming years due to increasing number of cyber-physical system manufacturers and vendors in the market. Cyber physical system has major applications in various sectors including Industry 4.0, smart factories, smart grids, smart healthcare, and other industries. Moreover, the U.S. region witness developed infrastructure for the automation, healthcare, and transportation sector. Also rising adoption of advanced technologies like IoT, integration of artificial intelligence in various industries is set to propel the demand for the cyber-physical system in the U.S. market.

Why is a China Prominent Market for Cyber-Physical System Market in Coming Years?

China is set to register exponential growth for cyber-physical system in the global cyber-physical system market with a CAGR of over 11.7% during 2022-28. China market is anticipated to create an absolute dollar opportunity of US$ 19,005.9 Mn during 2020-28.

China is world’s largest manufacturing economy owing to low-cost labor and raw materials. China witness strong presence of infrastructure, a large consumer base, favorable policies and established supplier network for manufacturing wide range of products. Industry 4.0 or 4th industrial revolution is the digital transformation of production or manufacturing units and value creation processes, which is widely popular in the Chinese market.

Thus, rising adoption of cyber-physical system at the place of traditional physical entities in industry 4.0 to get higher productivity, efficiency, and the autonomous operation is ultimately driving the demand for the cyber-physical system market in china.

Why is Germany Cyber-Physical System Market a One of the Prominent Market for?

The Germany market is set to report the one of the largest consumption of cyber-physical system in Europe region, and market size is expected reach 1.4X by 2028. Germany market is anticipated to create an absolute dollar opportunity of US$ 2,888.4 Mn during 2022-28.

The demand for the cyber-physical system in Germany is projected to set higher growth owing to presence of developed infrastructure for the energy and utility, manufacturing, and automotive sectors. As per the Federal Ministry for Economic Affairs and Climate Action (Federal Ministry of Economics and Technology), Germany invested nearly $44.9 Bn in Industry 4.0 applications by 2020. Therefore, due to heavy investment by government and presence of developed infrastructure for automotive, energy as well as advanced technologies across various sectors, is set to drive the demand for the cyber-physical system in coming years in Germany.

Category-wise Insights

Why is Demand for Cyber-Physical Hardware System Segment Rising?

Cyber-physical hardware segment by component will dominate the cyber-physical system, and expected to reach 1.4X by 2028. Moreover, cyber-physical system services segment is set to witness highest growth rate of 9.7% CAGR during 2022-28.

The demand for the hardware segment by component is witness large market share in global cyber-physical system segment. This attributes to factors such as declining prices of IoT sensors and networking devices. The adoption of primary components of a cyber-physical system such as sensors, monitoring devices computing unit, memory units and storage devices has been increased in various sectors.

Therefore, declining prices of hardware component of cyber-physical system is set to drive the demand for the cyber-physical hardware system segment.

Why does Energy and Utility Segment Exhibit High Demand for Cyber-Physical System Market?

On the basis of vertical, energy and utility segment will be a dominating segment in the cyber-physical system market. The market size of energy and utility segment is expected to expand up to 1.3X of by 2028. Moreover, automotive segment is set to register the highest growth at the rate of CAGR 12.2% during 2022-28.

The energy and utility segment is anticipated to show significant growth in cyber-physical system market. The cyber-physical system ensures the optimum utilization of energy by eliminating the usage of surplus energy. The major application of a cyber-physical system in the energy and utility industry lies in smart grid technology.

Moreover, in the Automotive sector, the cyber-physical systems majorly use Electronic Control Units (ECUs) in the cars which drives the various mechanical subsystems such as brakes, engine, suspension and steering. Thus rising adoption of cyber-physical embedded system in cars is expected to propel the demand for cyber-physical system in automotive segment.

Competitive landscape

Many key cyber-physical system manufacturers are inclined at investing heavily in product innovation, R&D practices to uncover increased applications of cyber-physical system. With the use of technology, vendors also try to accelerate its business transformation and growth objectives by increasing its partner base.

  • In December 2017, Hitachi Vantara strengthened its partner program by adding a new distributor, immix Group, to its partner base. The company intends to enhance its partner program distribution channel by enabling its partners to grow their business, and to sell Hitachi Vantara Federal’s extensive portfolio of products, solutions, and services.                                               
  • In February 2017, the Honeywell International partnered with Intel Corporation, a U.S.-based semiconductor provider. This partnership was aimed at developing IoT solutions for the retail industry. This partnership leverages sensors, handheld computers, processors, barcodes, and other devices, giving offline retail a platform to compete against online shopping.

Cyber-Physical System Market Report Scope

Attribute

Details

Market value in 2021

US$  79,192.1 Mn

Market CAGR 2013 to 2021

7.6%

Share of top 5 players

Around 30%

Forecast Period

2022-2028

Historical Data Available for

2013-2021

Market Analysis

USD Million for Value

Key regions covered

North America, Latin America,  Western Europe,  Eastern Europe,  China,  Japan, Asia Pacific, and Middle East & Africa 

Key countries covered

US, Canada, Germany, U.K., France, Italy, sprain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC countries, Turkey, Northern Africa, and South Africa

Key market segments covered

  • Component
  • Vertical
  • Region

Key companies profiled

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

Report coverage

Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives

Customization & pricing

Available upon request  

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Cyber-Physical System Market Survey by Category

By Component:

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

By Vertical:

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

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • Japan
  • Asia Pacific
  • Middle East & Africa

Key Questions Answered in the Report

How much is the global Cyber-Physical System Market valued at?

The global cyber-physical system market is valued at over US$ 79,192.1 Mn in 2021.
The factors such as increasing demand for a transition towards automation and digitalization in industrial control systems is driving the cyber-physical system market growth.
From 2013 to 2021, demand for cyber-physical system increased at a CAGR of 7.6%.
The sales revenue of cyber-physical system are projected to increase at 7.9% CAGR and be valued at over US$ 137,566.0 Mn by 2028.
The U.S., U.K., India, China, and Germany are major demand countries for cyber-physical system.

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