Europe Virtual Sensors Market Size, Share & Trends Analysis Report By Component (Solutions, and Services), By Deployment (On-Premise, and Cloud), By End Use, By Country and Growth Forecast, 2024 - 2031
The Europe Virtual Sensors Market would witness market growth of 28.8% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Virtual Sensors Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $384.1 million by 2031. The UK market is registering a CAGR of 27.7% during (2024 - 2031). Additionally, The France market would witness a CAGR of 29.7% during (2024 - 2031).
Virtual sensors are crucial in enhancing vehicle performance and safety in the automotive industry. They are used to estimate tire pressure, engine temperature, and vehicle speed based on data from other vehicle systems. Virtual sensors are also being leveraged in developing autonomous driving technologies, which predict vehicle behaviour, track road conditions, and assist in collision avoidance by integrating data from cameras, LiDAR, radar, and other sensors. Additionally, in the context of electric vehicles (EVs), virtual sensors can estimate battery health, state of charge, and energy consumption, helping optimize charging cycles and improving the overall life cycle of EV batteries.
Furthermore, in healthcare, virtual sensors are revolutionizing patient monitoring and diagnostics. For instance, virtual sensors can estimate a patient’s vital signs, such as heart rate and blood pressure, based on data from wearable devices and other sensors. In clinical settings, they provide real-time patient monitoring, helping healthcare professionals make informed decisions without needing extensive physical sensor infrastructure.
The rise of advanced manufacturing in Europe also aligns with the region’s broader industrial strategy, emphasizing sustainability, innovation, and digital transformation. Virtual sensors are increasingly seen as a vital component in achieving these goals, as they contribute to reducing costs, energy consumption, and carbon emissions in manufacturing processes. By integrating virtual sensors, European manufacturers can optimize their operations, enhance production efficiency, and improve their environmental footprint. The combination of advanced manufacturing growth and the need for smarter, more sustainable technologies will create a strong demand for virtual sensors across various European industries, driving market expansion and technological innovation. In conclusion, the rapid growth of advanced manufacturing firms in the EU, especially in key manufacturing hubs, will significantly boost the demand for virtual sensors.
Based on Component, the market is segmented into Solutions, and Services. Based on Deployment, the market is segmented into On-Premise, and Cloud. Based on End Use, the market is segmented into Manufacturing & Utilities, Automotive & Transportation, Aerospace & Defense, Oil & Gas, Healthcare, Electronics, and Other End Use. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Siemens AG
- General Electric Company
- Schneider Electric SE
- Rockwell Automation Inc.
- Honeywell International Inc.
- ABB Group
- Emerson Electric Co.
- Cisco Systems, Inc.
- Infineon Technologies AG
- MediaTek, Inc.
By Component
- Solutions
- Services
- On-Premise
- Cloud
- Manufacturing & Utilities
- Automotive & Transportation
- Aerospace & Defense
- Oil & Gas
- Healthcare
- Electronics
- Other End Use
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe Virtual Sensors Market, by Component
- 1.4.2 Europe Virtual Sensors Market, by Deployment
- 1.4.3 Europe Virtual Sensors Market, by End Use
- 1.4.4 Europe Virtual Sensors Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis – Global
- 4.1 Market Share Analysis, 2023
- 4.2 Porter Five Forces Analysis
- Chapter 5. Europe Virtual Sensors Market by Component
- 5.1 Europe Solutions Market by Country
- 5.2 Europe Services Market by Country
- Chapter 6. Europe Virtual Sensors Market by Deployment
- 6.1 Europe On-Premise Market by Country
- 6.2 Europe Cloud Market by Country
- Chapter 7. Europe Virtual Sensors Market by End Use
- 7.1 Europe Manufacturing & Utilities Market by Country
- 7.2 Europe Automotive & Transportation Market by Country
- 7.3 Europe Aerospace & Defense Market by Country
- 7.4 Europe Oil & Gas Market by Country
- 7.5 Europe Healthcare Market by Country
- 7.6 Europe Electronics Market by Country
- 7.7 Europe Other End Use Market by Country
- Chapter 8. Europe Virtual Sensors Market by Country
- 8.1 Germany Virtual Sensors Market
- 8.1.1 Germany Virtual Sensors Market by Component
- 8.1.2 Germany Virtual Sensors Market by Deployment
- 8.1.3 Germany Virtual Sensors Market by End Use
- 8.2 UK Virtual Sensors Market
- 8.2.1 UK Virtual Sensors Market by Component
- 8.2.2 UK Virtual Sensors Market by Deployment
- 8.2.3 UK Virtual Sensors Market by End Use
- 8.3 France Virtual Sensors Market
- 8.3.1 France Virtual Sensors Market by Component
- 8.3.2 France Virtual Sensors Market by Deployment
- 8.3.3 France Virtual Sensors Market by End Use
- 8.4 Russia Virtual Sensors Market
- 8.4.1 Russia Virtual Sensors Market by Component
- 8.4.2 Russia Virtual Sensors Market by Deployment
- 8.4.3 Russia Virtual Sensors Market by End Use
- 8.5 Spain Virtual Sensors Market
- 8.5.1 Spain Virtual Sensors Market by Component
- 8.5.2 Spain Virtual Sensors Market by Deployment
- 8.5.3 Spain Virtual Sensors Market by End Use
- 8.6 Italy Virtual Sensors Market
- 8.6.1 Italy Virtual Sensors Market by Component
- 8.6.2 Italy Virtual Sensors Market by Deployment
- 8.6.3 Italy Virtual Sensors Market by End Use
- 8.7 Rest of Europe Virtual Sensors Market
- 8.7.1 Rest of Europe Virtual Sensors Market by Component
- 8.7.2 Rest of Europe Virtual Sensors Market by Deployment
- 8.7.3 Rest of Europe Virtual Sensors Market by End Use
- Chapter 9. Company Profiles
- 9.1 Siemens AG
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 SWOT Analysis
- 9.2 General Electric Company
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 SWOT Analysis
- 9.3 Schneider Electric SE
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 SWOT Analysis
- 9.4 Rockwell Automation, Inc.
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expenses
- 9.4.5 SWOT Analysis
- 9.5 Honeywell International Inc.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Product Launches and Product Expansions:
- 9.5.6 SWOT Analysis
- 9.6 ABB Group
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 SWOT Analysis
- 9.7 Emerson Electric Co.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 SWOT Analysis
- 9.8 Cisco Systems, Inc.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 SWOT Analysis
- 9.9 Infineon Technologies AG
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expense
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.5.2 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
- 9.10. MediaTek, Inc.
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 SWOT Analysis
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