The Europe Virtual Sensors Market is expected to 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 is expected to 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.
The Germany market dominated the Europe Virtual Sensors Market by country in 2023, and is expected to 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.
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.
Market Report Segmentation
By Component
- Solutions
- Services
By Deployment
- On-Premise
- Cloud
By End Use
- Manufacturing & Utilities
- Automotive & Transportation
- Aerospace & Defense
- Oil & Gas
- Healthcare
- Electronics
- Other End Use
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Europe Virtual Sensors Market by Component
Chapter 6. Europe Virtual Sensors Market by Deployment
Chapter 7. Europe Virtual Sensors Market by End Use
Chapter 8. Europe Virtual Sensors Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- 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.
Methodology
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