The new report titled ‘Global Digital Twin Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Digital Twin Market outlook over the forecast duration (2019-2030). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market.
At a constant CAGR of 39.5%, the size of the worldwide digital twin market is anticipated to reach USD 144.77 billion in 2030. The growing acceptance of IoT in businesses and the rising use of digital twin technology for monitoring, tracking, and controlling industrial systems are both contributing to the steady revenue growth of the digital twin market. Digital twin technology offers real-time asset and production visibility to spot roadblocks, improve product development, and optimise operational flow. The technology is in great demand as a result of Industry 4.0's growing recognition as a method for using digital twins to give a thorough understanding of equipment health and enable businesses to quickly identify irregularities in the way operations are carried out. Deploying digital twins also aids in proactive planning of maintenance and spare component replacement to shorten time to service and avoid asset breakdowns that would be prohibitively expensive.
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The Digital Twin research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key Companies Profiled in the Report:
Microsoft Corporation, Oracle Corporation, IBM Corporation, PTC Inc., Ansys Inc., General Electric Company, SAP SE, Siemens AG, Hexagon AB, and Aveva Group PLC
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Market Overview:
The report bifurcates the Digital Twin market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
-
Type Outlook (Revenue, USD Billion; 2018–2028)
- Process Digital Twin
- Product Digital Twin
- System digital Twin
-
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Internet of Things
- Artificial Intelligence & Machine Learning
- Blockchain
- Big Data Analytics
- Virtual Reality, Augmented Reality, and Mixed Reality
- 5G
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Application Outlook (Revenue, USD Billion; 2018–2028)
- Automotive
- Healthcare
- Aerospace & Defense
- Retail
- Energy & Utilities
- Telecommunication
- Agriculture
- Others
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Regional Landscape section of the Digital Twin report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report addresses the following key points:
The study calculates the anticipated market size from 2021 to 2028.
The study projects market growth factors, challenges, and opportunities for the Digital Twin industry.
The report examines the shifting market dynamics in more detail.
Market segmentation and regional analysis, including research on the regions and segments anticipated to drive future market expansion
detailed mapping of the competitive environment and profiles of the major rivals
detailed examination of business tactics and partnerships, including mergers and acquisitions, used by the major companies
Country scope, application insights, product insights, and revenue forecast
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