Virtual Sensors Market Share, Growth Prospects and Key Opportunities by 2023
The report " Virtual Sensors Market Trends by Component (Solutions and Services), Deployment Mode (Cloud and On-Premises), End User (Process Industry - Manufacturing and Utilities, Automotive and Transportation, and Oil and Gas), and Region - Global Forecast to 2023" , The global virtual sensors market size is expected to grow from USD 235 million in 2018 to USD 910 million by 2023, at a CAGR of 31.1% during the forecast period. Predictive maintenance, potential cost and time saving compared to physical sensors, and increasing adoption of the IoT cloud platforms are major growth factors for the global virtual sensors market. On-premises deployment mode to hold a larger market size during the forecast period The on-premises deployment of virtual sensors offers enterprises with total control over their enterprise-sensitive data, such as customer details, product data, enterprise asset details, and supplier data. The data is secured, as it exists on dedicated serve...