Modelway is mentioned among the key players in Virtual Sensors Market according to the 2019 Global Virtual Sensors Market Analysis published by Research & Markets.
The Global Virtual Sensors market is expected to reach $2,1 bn by 2026 growing at a CAGR of 29.8% during 2019 to 2026. Virtual sensing techniques are also known as soft sensing, proxy sensing, etc., are used to provide possible and cost-effective alternatives to the impractical material measurement device. Some of the factors such as increasing adoption of IoT and cloud platforms are fuelling the market growth. However, the lack of a skilled workforce and technical knowledge are restraining the market growth.
Based on Deployment Mode, The Cloud segment has witnessed significant growth due to increasing data storage capabilities for organizations because it uses cloud-based sensors, as it is easy to deploy, offers agility, and provide more scalability than on-premises software at a reasonable cost.
The key vendors mentioned are TACTILE MOBILITY, Siemens, Schneider Electric, OSIsoft, Modelway, LMI Technologies, IntelliDynamics, Honeywell, General Electric, Exputec, Elliptic Labs, Cisco, Aspen Technology, and ANDATA