The global virtual sensors market was valued at USD 214.4 million in 2018 and is projected to reach USD 1.84 billion by 2026, growing at a CAGR of 31.6% during the forecast period. North America currently holds the largest share of the market due to early adoption of IoT and industrial automation, while the Asia-Pacific region is expected to witness the fastest growth.
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Virtual sensors are being increasingly deployed in smart factories and industrial environments to monitor equipment health, enabling predictive maintenance and minimizing downtime.
The growing adoption of IoT and cloud-based solutions enables real-time monitoring and management of connected systems. Virtual sensors fit well into this landscape as they integrate seamlessly while providing scalable insights.
By simulating sensor outputs, virtual sensors eliminate the need for extensive physical sensor infrastructure, reducing both capital and maintenance costs.
Virtual sensing is actively used in manufacturing, oil & gas, chemical processing, and increasingly in automotive, aerospace, and healthcare. These industries benefit from real-time monitoring and process optimization enabled by virtual sensors.
Integration of AI/ML allows virtual sensors to become more accurate, adaptive, and capable of self-correction, making them ideal for complex and dynamic systems.