Digital Twin Market

Digital Twin Market by Technology, Type (Product, Process, and System), Industry (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Healthcare, Energy & Utilities, Oil & Gas), and Geography - Global Forecast to 2025

Report Code: SE 5540 Jul, 2019, by marketsandmarkets.com

The digital twin market is estimated to grow from USD 3.8 billion in 2019 to USD 35.8 billion by 2025, at a CAGR of 37.8%. Factors driving the demand for digital twin include the growing adoption of emerging technologies such as IoT and cloud for the implementation of digital twin and promising prospect of digital twin in industries such as healthcare, aerospace & defense, and automotive & transportation.

Digital Twin Market

Selected Market Dynamics in Digital Twin Market

Growing use of digital twin for predictive maintenance

Digital twins are used widely for predictive maintenance across various industries. Digital twin-based predictive maintenance uses a real-time sensor to record the health and working conditions of a product, process, or system and analyze it against the historical data for its failure modes and criticality. This analyzed data can be used for taking predictive measures.

A neural network detects abnormal patterns in the incoming sensor data of the physical asset and reflects the patterns in predictive models. This data can be used to predict failures; if a physical asset’s configurational parameters are likely to lead to a failure, a digital twin localizes the issue, assesses its criticality, notifies technicians, and recommends a mitigating action.

Increasing adoption of Industry 4.0 and IIoT

The Industrial Internet of Things (IIoT) and Industry 4.0 are gaining traction with the rising demand for digitalization. According to MarketsandMarkets, the smart manufacturing market was valued at USD 153.25 billion in 2017 and is projected to reach USD 299.19 billion by 2023; it is expected to grow at a CAGR of 11.9% from 2018 to 2023.

IIoT brings together machines, advanced analytics, and people involved in the working of a particular process or product. It is the network of a multitude of industrial devices connected by communications technologies that result in systems that can monitor, collect, exchange, analyze, and deliver valuable insights for better decision-making capabilities. With technology having the ability to cover the entire life cycle of a physical system, process or product, it provides businesses with a powerful analytical tool, which helps companies in thoroughly assessing key performance indicators and provide insights as to where enhancements/upgrades can be made. In the long-run, insights taken from digital twins will drive various opportunities for innovation and growth.

System digital twin to boost digital twin market during forecast period

Based on type, the digital twin market for system digital twin is expected to hold the largest share during the forecast period owing to its increasing demand in various industries, such as aerospace & defense, home & commercial, and automotive & transportation. There is increasing adoption of system digital twin as it provides visibility into a set of interdependent equipment for a complete system because system digital twin is a collection of assets/products and processes that together perform as a system. A few examples of system digital twins are a refinery or plant, production line in a factory, an assembly line, and a traffic network.

Healthcare to be fastest-growing industry during forecast period

Healthcare is expected to be the fastest-growing industry for the digital twin market. The healthcare industry is among the most promising industries for the adoption of digital twins in various phases. The dynamic shift toward patient care will be the most significant factor contributing to the growth of digital twins in this sector. Digital twins are used in applications such as monitoring, diagnostics, and prognostics. The digital transformation in the healthcare industry enables dynamic growth opportunity for the adoption of digital twins.

Digital Twin Market

APAC to be fastest-growing market for digital twin during forecast period

Automotive & transportation and aerospace & defense industries in APAC showed significant growth in the past few years. The growth in these industries has been propelled by a huge population shift and an increase in disposable income, which, in turn, has prompted a higher demand for products in APAC. Manufacturers are adopting new digital techniques in manufacturing to reduce cost, save time, and improve product quality. These factors will continue to propel the demand for digital twins in these industries in APAC during the forecast period.

Key Market Players

A few major vendors in the digital twin market include General Electric (US), IBM (US), PTC (US), Microsoft Corporation (US), Siemens AG (Germany), ANSYS (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM.AI (US).

IBM is among the major players in the IoT cloud platforms with more than 6,000 client engagements in 170 countries, a growing ecosystem of over 1,400 partners and more than 750 IoT patents. The company has a strong focus on the development of new products in the field of IoT, as well as on machine learning to transform businesses, lives, and societies. For instance, in 2017, IBM launched IBM Digital Twin capabilities in collaboration with Aras Corporation (US) and OSIsoft, LLC (US). These capabilities are used to create multiple views of products by pooling various digital threads and data streams to fulfill the needs of particular users.

Scope of the Report

Report Metric

Details

Report Name

Digital Twin Market

Market size available for years

 2016–2025

Base year considered

 2018

Forecast period

 2019–2025

Forecast units

 Value (USD)

Segments covered

Technology, type, industry, and region

Geographies covered

 North America, Europe, APAC, and RoW

Companies covered

General Electric (US), IBM (US), PTC (US), Microsoft Corporation (US), Siemens AG (Germany), Ansys (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM.AI (US), and among others.
A total of 20 major players have been covered.

 

This research report categorizes the overall digital twin market on the basis of technology, type, industry, and geography.

Digital Twin Market By Technology:

  • IoT & IIoT
  • Blockchain
  • Artificial Intelligence & Machine Learning
  • Augmented Reality, Virtual Reality, and Mixed Reality
  • Big Data Analytics
  • 5G

Digital Twin Market By Type:

  • Product Digital Twin
  • Process Digital Twin
  • System Digital Twin

Digital Twin Market By Industry:

  • Aerospace & Defense
  • Automotive & Transportation
  • Home & Commercial
  • Healthcare
  • Energy & Utilities
  • Oil & Gas
  • Others

Geographic Analysis of Digital Twin Market

  • North America
  • Europe
  • APAC
  • RoW

Recent developments

  • In February 2019, ANSYS launched ANSYS Twin Builder, which empowers organizations to optimize product operations and accelerate product development.
  • In March 2019, Siemens signed an acquisition agreement with a Saab Medav Technologies GmbH (Germany) for noise, vibration, and harshness (NVH) end-of-line quality testing business of Saab. This acquisition improved the quality testing for Siemens product digital twin.
  • In June 2018, ANSYS and SAP (Germany) partnered to build unique solutions for predictive maintenance of industrial assets, enabled by ANSYS Twin Builder.

Key questions addressed by the report

  • What are the key drivers, restraints, opportunities, and challenges pertaining to the market?
  • Which industries are the leading adopters of digital twin solutions?
  • Who are the leading digital twin solution providers in the market?
  • Who are the leading software providers in the market?
  • What are the recent developments in the digital twin ecosystem related to mergers and acquisitions, and partnerships?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst of Digital Twin Market

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Market Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
                    2.1.1.1 Key Industry Insights
           2.1.2 Secondary Data
                    2.1.2.1 Key Data From Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Breakdown of Primaries
                    2.1.3.2 Key Data From Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Growth Opportunities in Digital Twin Market
    4.2 Market, By Type
    4.3 Market, By Country and Industry
    4.4 Market, By Country (2019)

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Declining Time and Cost of Product Development and Unplanned Downtime With Adoption of Digital Twin
                    5.2.1.2 Increasing Adoption of Emerging Technologies Such as IoT and Cloud
                    5.2.1.3 Growing Use of Digital Twin for Predictive Maintenance
           5.2.2 Restraints
                    5.2.2.1 Risks Associated With Data Security Due to the Use of IoT and Cloud Platforms
           5.2.3 Opportunities
                    5.2.3.1 Promising Growth of Digital Twin Technology in Industries Such as Healthcare, Aerospace, and Automotive
                    5.2.3.2 Increasing Adoption of Industry 4.0 and Iiot
           5.2.4 Challenges
                    5.2.4.1 Lack of Awareness Regarding Cost Benefits of Digital Twin Adoption
                    5.2.4.2 Lack of Skilled Workforce and Technical Knowledge
    5.3 Value Chain Analysis
    5.4 Case Studies
           5.4.1 Aerospace & Defense
                    5.4.1.1 Nasa Uses Digital Twin for Its Space Station and Spacecraft
                    5.4.1.2 Lockheed Martin’s Digiverse – the Complete Digital Twin of “Everything”
           5.4.2 Automotive & Transportation
                    5.4.2.1 Man Truck Uses PTC’s Thingworx Platform for Building Digital Twin
                    5.4.2.2 Allego Uses Microsoft’s Azure Digital Twin Platform for E-Charging Solutions
           5.4.3 Home & Commercial
                    5.4.3.1 Dassault Systems Along With the Government of Singapore is Building A Digital Twin of the Complete Country – Virtual Singapore
                    5.4.3.2 Cbre Uses Microsoft’s Azure Digital Twin Platform for Cbre 360 Employee
           5.4.4 Healthcare
                    5.4.4.1 John Hopkins Hospital Uses Ge’s Digital Twin Platform for Building Digital Twin of Patient Pathways
                    5.4.4.2 Siemens Healthineers Develops Digital Twin of A Heart
           5.4.5 Energy & Utilities
                    5.4.5.1 Ge Builds A Digital Twin of Wind Turbine
                    5.4.5.2 Ge’s Digital Twin of A Power Plant
           5.4.6 Oil & Gas
                    5.4.6.1 Ansys, PTC, Flowserve, National Instruments, and Hpe Built and Demonstrated Digital Twin of A Pump
                    5.4.6.2 Shel Together With Swiss Engineering Builds Digital Twin of A Test Rig—Digital Rig
           5.4.7 Others
                    5.4.7.1 Siemens Plm Software and Bridg Together Build Digital Twin for Semiconductor Manufacturing Process
                    5.4.7.2 ABB Built Digital Twin of Electromagnetic Flowmeter to Be Used in Water & Wastewater Transport and Treatment

6 Technologies of Digital Twin (Page No. - 41)
    6.1 Introduction
    6.2 IoT & Iiot
    6.3 Blockchain
    6.4 Artificial Intelligence and Machine Learning
    6.5 Augmented Reality, Virtual Reality, and Mixed Reality
    6.6 Big Data Analytics
    6.7 5G

7 Digital Twin Market, By Type (Page No. - 46)
    7.1 Introduction
    7.2 Product Digital Twin
           7.2.1 Product Digital Twin to Witness Significant Growth in the Market
    7.3 Process Digital Twin
           7.3.1 Process Digital Twin Plays Significant Role in Market
    7.4 System Digital Twin
           7.4.1 System Digital Twin to Dominate Market During Forecast Period

8 Digital Twin Market, By Industry (Page No. - 50)
    8.1 Introduction
    8.2 Aerospace & Defense
           8.2.1 Aerospace & Defense to Witness Significant Growth in This Market
    8.3 Automotive & Transportation
           8.3.1 Automotive & Transportation to Dominate This Market During Forecast Period
    8.4 Home and Commercial
           8.4.1 North America to Dominate Market for Home and Commercial Industry During Forecast Period
    8.5 Healthcare
           8.5.1 Healthcare to Be Fastest-Growing Industry for Market
    8.6 Energy & Utilities
           8.6.1 Rising Digitization is Driving Energy & Utilities in Market Growth During Forecast Period
    8.7 Oil & Gas
           8.7.1 System Digital Twin to Digital Twin Market for Oil & Gas Industry
    8.8 Others
           8.8.1 APAC to Be Fastest-Growing Region of Digital Twin for Other Industries

9 Digital Twin Market, By Geography (Page No. - 78)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 US Holds Largest Share of Market in North America
           9.2.2 Canada
                    9.2.2.1 Emerging Digital Technologies Drive Market in Canada
           9.2.3 Mexico
                    9.2.3.1 Increasing Adoption of Digitization for Home & Commercial Drives Market in Mexico
    9.3 Europe
           9.3.1 Germany
                    9.3.1.1 Industry 4.0 Initiative Drives Market in Germany
           9.3.2 UK
                    9.3.2.1 Market in UK to Grow Significantly During Forecast Period
           9.3.3 France
                    9.3.3.1 IoT & Cloud Plays Vital Role in Driving Market in France
           9.3.4 Rest of Europe
    9.4 APAC
           9.4.1 China
                    9.4.1.1 China to Hold Largest Share of Market During Forecast Period
           9.4.2 Japan
                    9.4.2.1 Growing Adoption of IoT Drives Market in Japan
           9.4.3 India
                    9.4.3.1 Government Initiatives Spur Growth of Market in India
           9.4.4 Rest of APAC
    9.5 RoW
           9.5.1 Middle East
                    9.5.1.1 Growth in Oil & Gas Will Drive Market in Middle East
           9.5.2 South America
                    9.5.2.1 Brazil and Argentina Contribute Significantly for Growth of Market in South America
           9.5.3 Africa

10 Competitive Landscape (Page No. - 89)
     10.1 Overview
     10.2 Competitive Scenario
             10.2.1 Product Developments/Launches
             10.2.2 Partnerships, Mergers and Acquisitions
     10.3 Competitive Leadership Mapping
             10.3.1 Visionary Leaders
             10.3.2 Dynamic Differentiators
             10.3.3 Innovators
             10.3.4 Emerging Companies
     10.4 Strength of Product Portfolio (For All 25 Players)
     10.5 Business Strategy Excellence (For All 25 Players).

11 Company Profiles (Page No. - 96)
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, MnM View)*
     11.1 Introduction
     11.2 Key Players
             11.2.1 General Electric
             11.2.2 IBM
             11.2.3 PTC
             11.2.4 Microsoft Corporation
             11.2.5 Siemens AG
             11.2.6 Ansys
             11.2.7 SAP
             11.2.8 Oracle
             11.2.9 Robert Bosch
             11.2.10 Swim AI
     11.3 Innovators
             11.3.1 DNV GL
             11.3.2 Sight Machine
             11.3.3 Tibco Software Inc
             11.3.4 Aucotec AG
     11.4 Other Important Key Players
             11.4.1 Wipro Limited
             11.4.2 ABB
             11.4.3 Dassault System
             11.4.4 Honey Well
             11.4.5 Schneider
             11.4.6 Emerson

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 127)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (51 Tables)

Table 1 Digital Twin Market, By Type, 2016–2025 (USD Billion)
Table 2 Market, By Industry, 2016–2025 (USD Million)
Table 3 Market for Aerospace & Defense, By Type, 2016–2025 (USD Million)
Table 4 Market for Aerospace & Defense, By Region, 2016–2025 (USD Million)
Table 5 Market for Aerospace & Defense in North America, By Country, 2016–2025 (USD Million)
Table 6 Market for Aerospace & Defense in Europe, By Country, 2016–2025 (USD Million)
Table 7 Market for Aerospace & Defense in APAC, By Country, 2016–2025 (USD Million)
Table 8 Market for Aerospace & Defense in RoW, By Country, 2016–2025 (USD Million)
Table 9 Market for Automotive & Transportation, By Type, 2016–2025 (USD Million)
Table 10 Market for Automotive & Transportation, By Region, 2016–2025 (USD Million)
Table 11 Market for Automotive & Transportation in North America, By Country, 2016–2025 (USD Million)
Table 12 Market for Automotive & Transportation in Europe, By Country, 2016–2025 (USD Million)
Table 13 Market for Automotive & Transportation in APAC, By Country, 2016–2025 (USD Million)
Table 14 Market for Automotive & Transportation in RoW, By Region, 2016–2025 (USD Million)
Table 15 Market for Home and Commercial, By Type, 2016–2025 (USD Million)
Table 16 Market for Home and Commercial, By Region, 2016–2025 (USD Million)
Table 17 Market for Home and Commercial in North America, By Country, 2016–2025 (USD Million)
Table 18 Market for Home & Commercial in Europe, By Country, 2016–2025 (USD Million)
Table 19 Market for Home and Commercial in APAC, By Country, 2016–2025 (USD Million)
Table 20 Market for Home and Commercial in RoW, By Country, 2016–2025 (USD Million)
Table 21 Market for Healthcare, By Type, 2016–2025 (USD Million)
Table 22 Market for Healthcare, By Region, 2016–2025 (USD Million)
Table 23 Market for Healthcare in North America, By Country, 2016–2025 (USD Million)
Table 24 Market for Healthcare in Europe, By Country, 2016–2025 (USD Million)
Table 25 Market for Healthcare in APAC, By Country, 2016–2025 (USD Million)
Table 26 Market for Healthcare in RoW, By Country, 2016–2025 (USD Million)
Table 27 Market for Energy & Utilities, By Type, 2016–2025 (USD Million)
Table 28 Market for Energy & Utilities, By Region, 2016–2025 (USD Million)
Table 29 Market for Energy & Utilities in North America, By Country, 2016–2025 (USD Million)
Table 30 Market for Energy & Utilities in Europe, By Country, 2016–2025 (USD Million)
Table 31 Market for Energy & Utilities in APAC, By Country, 2016–2025 (USD Million)
Table 32 Market for Energy & Utilities in RoW, By Country, 2016–2025 (USD Million)
Table 33 Market for Oil & Gas, By Type, 2016–2025 (USD Million)
Table 34 Market for Oil & Gas, By Region, 2016–2025 (USD Million)
Table 35 Market for Oil & Gas in North America, By Country, 2016–2025 (USD Million)
Table 36 Market for Oil & Gas in Europe, By Country, 2016–2025 (USD Million)
Table 37 Market for Oil & Gas in APAC, By Country, 2016–2025 (USD Million)
Table 38 Market for Oil & Gas in RoW, By Country, 2016–2025 (USD Million)
Table 39 Market for Others, By Type, 2016–2025 (USD Million)
Table 40 Market for Others, By Region, 2016–2025 (USD Million)
Table 41 Market for Others in North America, By Country, 2016–2025 (USD Million)
Table 42 Market for Others in Europe, By Country, 2016–2025 (USD Million)
Table 43 Market for Others in APAC, By Country, 2016–2025 (USD Million)
Table 44 Market for Others in RoW, By Country, 2016–2025 (USD Million)
Table 45 Market, By Region, 2016–2025 (USD Million)
Table 46 Market in North America, By Country, 2016–2025 (USD Million)
Table 47 Market in Europe, By Country, 2016–2025 (USD Million)
Table 48 Market in APAC, By Country, 2016–2025 (USD Million)
Table 49 Market in RoW, By Region, 2016–2025 (USD Million)
Table 50 Key Product Development/Launch
Table 51 Key Merger and Acquisition


List of Figures (44 Figures)

Figure 1 Digital Twin Market Segmentation
Figure 2 Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for the Research Study
Figure 7 Digital Twin Market Size (2016–2025)
Figure 8 System Digital Twin to Dominate Market By 2025
Figure 9 Market, By Industry (2019 vs 2025): Automotive & Transportation to Hold Largest Market Size During Forecast Period
Figure 10 North America Held Largest Share of Market in 2018
Figure 11 Increasing Usage of Emerging Technologies Such as IoT & Cloud is Driving Market Growth
Figure 12 Market for System Digital Twins to Grow at Highest CAGR During Forecast Period
Figure 13 Automotive & Transportation to Hold Largest Share of Market By 2025
Figure 14 US Held Largest Share of Market in 2019
Figure 15 Market Dynamics of Digital Twin
Figure 16 Value Chain Analysis: Major Value is Added During Solution/Service/Software Providing Phase
Figure 17 Digital Twin Technologies
Figure 18 Digital Twin Market, By Type
Figure 19 System Digital Twin to Dominate Market By 2025
Figure 20 Market, By Industry
Figure 21 Automotive & Transportation to Dominate Market During Forecast Period
Figure 22 Process Digital Twin to Dominate Market for Aeropace & Defense During Forecast Period
Figure 23 System Digital Twin to Dominate Market for Automotive & Transportation During Forecast Period
Figure 24 System Digital Twin to Dominate Market for Home & Commercial During Forecast Period
Figure 25 System Digital Twin to Be Fastest-Growing Type in Market for Healthcare During Forecast Period
Figure 26 System Digital Twin to Hold Largest Share of Market for Energy & Utilities During Forecast Period
Figure 27 System Digital Twin to Dominate Market for Oil & Gas During Forecast Period
Figure 28 System Digital Twin to Dominate Market for Other Industries During Forecast Period
Figure 29 Market: Geography Snapshot
Figure 30 North America to Hold Largest Share of Market During Forecast Period
Figure 31 North America: Snapshot of Market
Figure 32 Europe: Snapshot of Market
Figure 33 APAC: Snapshot of Market
Figure 34 Companies in Market Adopted Product Developments/Launches as Key Growth Strategy From 2016 to 2018
Figure 35 Market (Global) Competitive Leadership Mapping, 2018
Figure 36 General Electric: Company Snapshot
Figure 37 IBM: Company Snapshot
Figure 38 PTC: Company Snapshot
Figure 39 Microsoft Corporation: Company Snapshot
Figure 40 Siemens AG: Company Snapshot
Figure 41 Ansys: Company Snapshot
Figure 42 SAP: Company Snapshot
Figure 43 Oracle: Company Snapshot
Figure 44 Robert Bosch: Company Snapshot

The study involved 4 major activities in estimating the current market size for digital twin market. Exhaustive secondary search has been done to collect information on the market, peer market, and parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research have been the next steps. The top-down and bottom-up approaches have been employed to estimate the complete market size. After that the market breakdown and triangulation procedures have been used to estimate the market size of subsegments.  

Secondary Research

In the secondary research process, to identify and collect information for this study, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The digital twin market comprises several stakeholders, such as sensor manufacturers, solution providers, software providers, system integrators, end-user industries, industrial associations, and regulatory bodies. The demand side of this market is characterized by the adoption of digital twin technology in industries such as aerospace & defense, automotive & transportation, home & commercial, healthcare, energy & utilities, oil & gas, and others. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents has been provided below.

Digital Twin Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the digital twin market. These methods have also been used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size is as follows:

  • Key industry players have been identified through extensive secondary research.
  • The market size of industries, in terms of value, has been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides in the automotive & transportation, aerospace & defense, home & commercial, healthcare, energy & utilities, oil & gas, and other related industries.

Report Objectives

  • To describe and forecast the digital twin market, in terms of value, by type and industry
  • To describe and forecast the digital twin market, in terms of value, by region—North America, Asia Pacific (APAC), Europe, Rest of the World (RoW)
  • To forecast the digital twin market based on technology
  • To provide detailed information regarding major factors influencing growth (drivers, restraints, opportunities, and challenges)
  • To study complete value chain of digital twin and analyze current and future market trends
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the digital twin ecosystem
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To benchmark players in the market using the proprietary competitive leadership mapping, which analyzes market players on various parameters within broad categories of business and product strategies
  • To analyze strategic approaches such as product launches, acquisitions, collaborations, contracts, agreements, expansions, and partnerships in the digital twin market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the companies’ specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players based on various blocks of the value chain
Report Code
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Published ON
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