Global Digital Twin market is anticipated to grow at a CAGR of 32.34% during the forecast period to reach USD43,264.08 million by 2027. Anticipated growth in the market can be attributed to increasing penetration of smart technologies coupled with accelerated adoption of 5g. 5G supports a huge number of connected devices without lags and can provide longer battery life, which is expected to propel the market for smart technologies, such as digital twin in the upcoming five years.
Industry 4.0- Smart Industry Era Drives the Market Growth
The smart industry is the new frontier of manufacturing systems, combining data from system-wide physical, operational, and human resources to drive manufacturing, repairs, inventory management, and digitization of operations to meet the requirement for competence in production. Quality defect identification, fault prediction, cost savings associated with testing, increased production throughput, and reduced process variability are all benefits of digital twin technology. The advantages of optimizing and connecting smart factories to the internet are projected to stimulate demand for digital twin technology around the world driving the market growth.
Company Profiles
Bentley Systems, Incorporated, Robert Bosch GmbH, Schneider Electric SE, Swim.ai, Inc., Honeywell International Inc., Rockwell Automation Inc., ABB Ltd., AVEVA Group plc, Dassault Systèmes, PTC Inc., Siemens AG, General Electric Company, Microsoft Corporation, IBM Corporation, Oracle Corporation etc. are among the major market players in the Global Digital Twin market.
Get The Sample Copy of Business Study@ https://www.techsciresearch.com/sample-report.aspx?cid=1334
Report Scope:
In this report, Global Digital Twin market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Digital Twin Market, Type:
Process
Product
System
Global Digital Twin Market, Technology:
Internet of Things
Artificial Intelligence & Machine Learning
Extended Reality
Blockchain
Big Data Analytics
5G
Global Digital Twin Market, By Application:
Manufacturing Process Planning
Product Design
Predictive Maintenance
Others
Global Digital Twin Market, By End User:
Manufacturing
Automobile & Transportation
Healthcare and Lifesciences
Aerospace and Defence
Energy & Utilities
Others
Global Digital Twin Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ Germany
§ United Kingdom
§ France
§ Russia
§ Italy
o Asia-Pacific
§ China
§ Japan
§ South Korea
§ India
§ Australia
§ Singapore
§ Vietnam
o Middle East and Africa
§ UAE
§ Saudi Arabia
§ South Africa
§ Turkey
§ Egypt
§ Nigeria
o South America
§ Brazil
§ Argentina
§ Colombia
§ Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global Digital Twin market.
25. About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality
analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global
company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
Related Reports
• Global IoT Device Management Market, By Component (Software v/s Service), By Deployment Mode (On-Premise v/s Cloud), By Organization Size (Large Enterprises v/s
SMEs), By Application (Smart Retail, Connected Health, Connected Logistics, Smart Utilities, Smart Manufacturing, Others), By Company, By Region, Forecast &
Opportunities, 2027
• Global IoT Integration Market, By Service (Device and Platform Management Services, Application Management Services, Advisory Services, System Design and
Architecture and others) By Application (Smart Building and Home Automation, Smart Healthcare, Energy and Utilities, Industrial Manufacturing and Automation, Smart
Retail, Smart Transportation, Logistics, and Telematics) By Organization (SMEs, Large Enterprises) By Company, By Region, Forecast & Opportunities, 2027
• Global Digital Oilfield Market, By Processes (Reservoir, Production Optimization & Drilling Optimization), By Solutions (Hardware, Software & Service, & Data Storage
Solutions), By Application (On-shore & Off-shore), By Technology (IoT, Advance Analytics, Robotics, Cloud Computing, Mobility & Others), By Service (Automation,
Instrumentation, Security, Others), By End Use (Upstream, Midstream, & Downstream), Competition, Forecast & Opportunities, 2027
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,
accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it
considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible
for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the
subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this
document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior
approval of TechSci Research.
TechSci Research – North America
708 Third Avenue, Manhattan,
New York, United States
Tel: +1- 646- 360- 1656
Email: sales@techsciresearch.com
www.techsciresearch.com
Disclaimer
TechSci Research – Europe
54, Old brook, Bretton,
Peterborough,
United Kingdom
Email: sales@techsciresearch.com
www.techsciresearch.com
TechSci Research – Asia-Pacific
B – 44, Sector – 57, Noida, National Capital
Region, U.P. - India
Tel: +91-120-4523900
Email: sales@techsciresearch.com
www.techsciresearch.com