Digital Twin Market Size, Growth Opportunities, Trends Analysis & Industry Forecast Report, 2020-2027
Digital Twin Market Size, Growth Opportunities, Trends Analysis & Industry Forecast Report, 2020-2027
Published Date: Feb-2020 | Report Format: Excel/PPT | Report Code: ICT08A-00-0719
Digital Twin Market was estimated at USD 1,865 Million in 2019 and is projected to grow at a CAGR of 55.9% during forecast period.
Introduction of Digital Twin Market Report
The global digital twin market has witnessed a substantial growth in recent years. The increase in the adoption rate of internet of things devices and cloud platforms as well as increased focus towards improving the business performance in terms of cost-effectiveness, process optimization as well as time to market are the key factors fuelling the market growth of the digital twins. In addition, the new technological advancements in the area virtual and augmented reality will further help the market to grow at a substantial rate during the forecast period.
To have an edge over the competition by knowing the market dynamics and current trends of “Digital Twins Market”, request for Sample Report here
The electronics and electrical/machine manufacturing industry is estimated to hold the largest share in digital twin market in 2016. The key factors propelling the growth of the electronics and electrical/machine manufacturing industry include the increasing digitization for designing and manufacturing process of electrical and electronic equipment’s as well as in after-sales services.
Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report
Asia-Pacific region is expected to grow at the highest rate during the forecast period in the global market of digital twins. The major factors propelling the growth of the market in the region is the increased adoption rate of digital twins which typically drive the business impact of Internet of Things. The emerging economies such as India, China are focusing towards increasing the implementation of Internet of things in the region. Also, the other factors such as industrialization and high disposable income of people are the key factors which are fuelling the market growth of digital twins in the region.
In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here
This research report on global digital twins market provides in-depth analysis of the global digital twin market based on end-user, application and major geographies for the period from 2016 to 2021. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for digital twin market. The report also analyses the competitive landscape and the major player and their market share in 2016. The competitive landscape section of the report also captures and highlights the recent development in the market.
For detailed scope of the “Digital Twins Market” report request a Sample Copy of the report
The report also profiles the major companies active in this field, including IBM Corporation, Siemens AG, General Electric, PTC Inc., Microsoft Corporation, Robert Bosch GmbH, Dassault Systems, SAP SE, ANSYS Inc., Oracle Corporation
Key questions this research would answer:
1- Is the digital twin market growing? How long will it continue to grow and at what rate?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? What are the regional hotspots for growth in the digital twin market?
The global digital twin market is segmented on the basis of end-user, application and geography:
Global Digital Twins Market by End-User
• Aerospace and Defense
• Automotive & Transportation
• Home and Commercial
• Electronics and Electrical/Machine Manufacturing
• Healthcare
• Energy and Utilities
• Retail & Consumer Goods
• Others
Global Digital Twins Market by Application
• Product Design and Development
• Machine & Equipment Health Monitoring
• Predictive Maintenance
• Dynamic Optimization
Global Digital Twin Market by Region
• North America
• Europe
• Asia-Pacific
• RoW
Global Digital Twins Market Competitive Landscape
• Major Players and their Market Share Analysis
• New product launches
• Mergers and acquisitions
• Collaborations, partnerships, agreements and joint ventures
Frequently Asked Question About This Report
Digital Twin Market [ICT08A-00-0719]
The major factor driving the Digital Twin market include increase in the adoption rate of internet of things devices and cloud platforms as well as increased focus towards improving the business performance in terms of cost-effectiveness, process optimization as well as time to market.
Top players include IBM Corporation, Siemens AG, General Electric, PTC Inc., Microsoft Corporation, Robert Bosch GmbH, Dassault Systems, SAP SE, ANSYS Inc., Oracle Corporation.
Asia-pacific region is expected to grow at the highest rate during the forecast period in the market of digital twins. The major factors propelling the growth of the market in the region is the increased adoption rate of digital twins which typically drive the business impact of Internet of Things. The emerging economies such as India, China are focusing towards increasing the implementation of Internet of things in the region.
Digital Twin Market was estimated at USD 1,865 Million in 2019 and is projected to grow at a CAGR of 55.9% during forecast period.
Licensing Options
Single-User License:
The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
Digital Twin Market Size, Growth Opportunities, Trends Analysis & Industry Forecast Report, 2020-2027
$ 4,499.00 – $ 6,649.00