Lucintel Forecasts Virtual Sensor Market to Grow at a CAGR of 29%-31%

According to the recent study the virtual sensor market is projected to grow at a CAGR of 29%-31% from 2020 to 2025. Growth in this market is primarily driven by higher adoption of IoT cloud platforms and implementation of cloud based virtual sensing solution as a standard platform.

Browse XX figures / charts and XX tables in this 150-page report to understand trends, opportunities and forecast in virtual sensor market by deployment (cloud and on-premise), end use industry (automotive, aerospace & defense, electronics, chemical, oil & gas, manufacturing, healthcare, and others), and region (North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW).                                                      

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“On-premises market is expected to remain the largest segment during the forecast period.”       

Based on deployment, the virtual sensor market is segmented into cloud and on-premise. Lucintel forecasts that the on-premise market is expected to remain the largest segment during the forecast period because it runs on customer data centers and allows them to control and manage all aspects of the virtual sensor.

“Within the forensic technology market, the manufacturing segment is expected to remain the largest end use industry.”   

Based on end use industry, the manufacturing segment is expected to witness the largest segment over the forecast period because cost and efficiency benefits of virtual sensor are encouraging all branches of manufacturing and utility organizations to adopt virtual sensor solutions.  

“Asia Pacific will dominate the virtual sensor market in near future.”

Asia Pacific is expected to be the largest region over the forecast period as it is the largest manufacturing hub for consumer electronics and automobile production in the world.

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Major players of virtual sensor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Siemens AG, General Electric Company, Aspen Technologies, Inc., Elliptic Laboratories A/S, and Tactile Mobility are among the major virtual sensor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/virtual-sensor-market.aspx or helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com.

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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