The advent of CPS spells the dawn of an era of exciting research possibilities. Various research groups around the country (and even other parts of the world), from top universities to industries, are involved in this effort. The field is ripe for young researchers to stake their claims and for established scientists to apply their vast experience. It is envisioned that this effort will lead to never-before seen interdisciplinary research efforts and move forward not just the computer systems domains, but also various other fields.
Now, consider this: various power companies across the US have already, or are in the process of, upgrading their power management systems. Various sensors in individual homes (smart thermostats) can collect information that is sent via a network to the main stations (perhaps even local 'hubs') that can perform computations and apply complex power management algorithms and send control signals back to the grid (or even individual homes) to save energy, deal with catastrophic faults, or plain load balancing. Meanwhile, you, sitting at your work computer for instance, can monitor the power consumption in your home, even broken down by time of day. Thus you can decide what appliances to turn on/off and when, resulting in significant energy savings. Even Google is getting into the game with its Google Powermeter. All of this is possible, by a complex interaction of embedded devices, real-time control and interaction among the computation and the actual power management. Yup, you got that right, it is a cyber-physical system.