Decreasing cost of network components, sensors and semiconductors have led to the growth of cyber-physical market mainly in developing economies such as China, India and Brazil. Also, what drives the increase in use of the cyber-physical system in areas like chemical factories, nuclear power plants and hazardous remote locations is, the risk of human life. The demand for technologies like artificial intelligence to replace human from hazardous places is one of the key drivers for growth in cyber-physical system market. Developed economies such as the USA, Germany, and Japan etc. have already adopted new technologies and have a major contribution in the R&D of the cyber-physical system.
Owing to the use of communication and storage devices across the network in the cyber-physical system, security threats such as data breach could always act as a restraint for the market growth of CPS. Also, adopting new technology and integrating it with the existing system is time-consuming and difficult. This may be the reason which could restrain CPS market from growing.
Apart from applications in industries, households, automobile and healthcare, CPS will play a major part in the advancement of sectors including renewable energy, environmental climate change and public safety. Use of advanced technologies such as CPS will result in energy efficient houses and environment which will be a vital aspect of the future for countries worldwide. For instance, German industry 4.0 initiative aims to strengthen its position as a global leader in mechanical engineering.
North America and European countries are in the forefront for using CPS as they have advanced technology and skilled labor available. The significant adoption of CPS is seen in applications like smart grids and smart factories. Use of automated robots in manufacturing companies have increased the efficiency of production and thus has led to a boom in CPS market.
Recently, mobile the cyber-physical systems have prominently emerged as a sub-category of cyber-physical systems. In this, the physical system has inherent mobility. Growing popularity of smartphones is the major reason for increased interest in mobile cyber-physical systems. Applications to track and analyze CO2 emissions, monitoring cardiac patients, measuring traffic etc. are few examples of mobile cyber-physical systems.
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In terms of industrial sector, CPS market can be segmented as follows:
In terms of geography, CPS market can be segmented as follows:
• North America
• Europe (Germany, France, UK, Russia & Italy)
• Asia-Pacific (Japan, China & Korea)
• Middle East & Africa
In terms of product type, CPS market can be segmented as follows:
Some of the major companies in CPS market are:
• Dell EMC
• Schneider Electric
Siemens recently has invested USD $247 million in the UK for the rail manufacturing facility and USD $37 million in a new 3-D printing factory. Advanced robotics with help of artificial intelligence will help in manufacturing accurate components with properties which were not possible before.
On April 30, 2018, Honeywell opened Asia’s first cybersecurity center of excellence in Singapore owing to the growing market of the cyber-physical systems market. Honeywell specializes in CPS solutions for the aerospace, safety, smart home and productivity solution sectors across the globe. Growing number of the cyber-physical systems has led to the increase in vulnerability of cyber-attacks on the network and communication systems in it. Thus, Honeywell has come up with an initiative to counter this problem of cyber-attack and data breach by opening a research center in Asia.
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