Digital Twin Market Size, Share and Industry Growth Analysis Report by Enterprise, Application (Predictive Maintenance, Business optimization), Industry (Aerospace, Automotive & Transportation, Healthcare, Infrastructure, Energy & Utilities) and Geography - Global Growth Driver and Industry Forecast to 2027
Updated on : April 24, 2023
The global digital twin market in terms of revenue was estimated to be worth USD 6.9 billion in 2022 and is poised to reach USD 73.5 billion by 2027, growing at a CAGR of 60.6% from 2022 to 2027. The new research study consists of an industry trend analysis of the market.
The market has a promising growth potential due to rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations. Increasing demand for digital twin from the healthcare industry; and growing focus on predictive maintenance further drives the growth of digital twin market.
Digital Twin Market Forecast to 2027
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Impact of COVID-19 on Digital Twin Market
The outbreak and spread of COVID-19 caused a major setback to export-oriented economies owing to the shutdown of manufacturing plants in 2020. It hampered the growth of the digital twin market due to temporary shutdown in many industries, including automotive & transportation, aerospace, and infrastructure.
COVID-19 also led to delays in procurements and supplies in 2021. However, the rise in the adoption of digital twin industry in the healthcare and food & beverages industries lessened the negative effects of the pandemic on the growth of the market in late 2020 and early 2021. Before the outbreak of COVID-19, the demand for smart city infrastructure was growing in developing countries across the world. With the adverse effects of the pandemic on almost all the sectors, new constructions, smart city projects, and smart infrastructure projects were put on hold temporarily. Further, many projects were delayed and even after being resumed in 2020 and 2021, they are behind their initial schedule. Considering these factors, it can be concluded that the growth of the global market declined and further slowed down during the pandemic period. However, the market is expected to grow consistently during the post-COVID-19 period.
In October 2021, Dell (US) partnered with the i2b2 tranSMART Foundation (US), an open-source open-date community for enabling collaboration for precision medicine, to create privacy-preserving digital twins to treat the long-haul symptoms of COVID-19 patients. The study aims to enhance care for the 5% of COVID-19 patients who experience chronic health problems.
According to NavVis, a Germany-based digital twin provider, the use of NavVis Digital Twin has surged by nearly 300% post the implementation of COVID-19 physical distancing measures.
Digital Twin Market Segment Overview
By Enterprises
The digital twin market for SMEs is expected to dominated by the North America region from 2022 to 2027
The North America region is projected to be the largest digital twin market for large enterprises during the forecast period. It is further expected to grow at the highest CAGR from 2022 to 2027.
North America is one the early adopters of digital twin technology and most of the digital twin providers are located in the North American region, including Microsoft (US), IBM (US), Amazon (ASW) (US), and General Electric (US). National Aeronautics and Space Administration (NASA) was the early adopter of digital twin in North America. The region is concentrated with aerospace companies such as Bell Flight (US), Bye Aerospace (US), Lockheed Martin (US), and Boeing (US) who constantly invest in digital twin technology and carry out huge R&D with the technology to optimize their production and reduce the downtime and operational cost.
By Automotive Industry
Automotive & transport industry to dominate the digital twin market during the forecast period
The automotive & transportation industry is expected to account for the largest share of digital twin market during forecast period. It is further expected to grow at significant CAGR from 2022 to 2027.
The growth can be attributed to the increasing usage of digital twins for designing, simulation, MRO (maintenance, repair, and overhaul), production, and after service. A digital twin is capable of analyzing performance data collected over time and under different conditions during the manufacturing phase of vehicle designing. For example, a digital twin enables visualization of a race car engine to identify the necessity of maintenance of the components that can burn out or get damaged. Even in the after-sales stage, a digital twin is used for collecting feedback. Digital twins help ensure the safety of vehicles by monitoring the systems or parts that need replacement and alerting the relevant teams regarding the necessary change.
By Aerospace Industry
The aerospace segment is expected to dominate the digital twin market for product design & development application during the forecast period
The aerospace segment is expected to account for the largest size of the digital twin market for product design & development application during the forecast period.
It is further expected to grow at significant CAGR during 2022 and 2027. Digital twin is one of the emerging technologies used in product design and development along with artificial intelligence (AI), machine learning (ML), internet of things (IoT), and cloud computing. The capital required for real part design and development in the aerospace industry is enormous. Even the design of prototypes is costly. Digital twins are used by aerospace companies in R&D to improve the engineering of new parts by allowing them to model their performance in a wide range of scenario. Aerospace businesses utilize digital twin to develop one or more critical systems, such as the airframe, propulsion and energy storage systems, avionics, and thermal protection system.
By Regional
Digital Twin market in North America is expected to maintain the highest share during 2022–2027
North America is expected to hold the largest share of the digital twin market throughout the forecast period. North America is a major hub for technological innovations and an early adopter of digital twin and related technologies.
The presence of major digital twin providers in the region such as General Electric (US), Bentley Systems (US), IBM (US), Emerson (US), Microsoft (US), ANSYS (US), Amazon Web Services (US), Altair (US), and Oracle (US) also raises the demand and awareness regarding digital twin solutions. These vendors are investing significantly in the market. For instance, in August 2021, General Electric (US) introduced upgrades to its on-premises analytics software, Proficy CSense. The software utilizes AI and machine learning technologies, along with process digital twins, to identify problems, root causes, predict future performance, and automate actions. North America has an established ecosystem for digital twin practices and the presence of large automotive & transportation, aerospace, chemical, energy & utilities, and food & beverage companies in the US. These industries are replacing legacy systems with advanced solutions to improve performance efficiency and reduce overall operational costs, resulting in the growth of the digital twin technology market in this region.
Digital Twin Market by Region
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Top Digital Twin Companies - Key Market Players
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General Electric (US),
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Microsoft (US),
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Siemens (Germany),
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Amazon Web Services (US),
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ANSYS (US),
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Dassault Systèmes (France),
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PTC (US),
Digital Twin Market Report Scope
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Report Attributes |
Details |
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Estimated Value |
USD 6.9 Billion |
| Expected Value | USD 73.5 Billion |
| Growth Rate | 60.6% |
| Base Year Considered | 2021 |
| Historical Data Available for Years | 2018–2027 |
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Forecast Period |
2022–2027 |
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Segments Covered |
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Region Covered |
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| Market Leaders |
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| Top Companies in North America |
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| Key Market Driver | Rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations |
| Key Market Opportunity | Rising emphasis on advanced real-time data analytics |
| Largest Growing Region | North America |
| Largest Market Share Segment | Automotive & Transport Industry |
| Highest CAGR Segment | Large Enterprises and Small & Medium Enterprises Segment |
| Largest Application Market Share | Product Design & Development |
Digital Twin Market Dynamics
Driver: Rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations
Unplanned downtime and production waste severely affect manufacturers. Hence, they are looking for a system that can determine possible defects and failures in advance to avoid future losses.
The use of digital twin enables to reduce the excess time and cost required in manufacturing. By implementing digital twins, engineers can optimize a product’s performance by modifying the physical prototype that changes at every instance during the design phase. Hence, a digital prototype created with digital twin can be used to run simulations and can be modified at any instance at a lesser time and with minimal costs. A digital twin has numerous applications in manufacturing such as configuration management, asset management, process control, performance management, and simulation modeling. The data that is used in digital twin technology is historical data. In few instance, the digital twin operates with real-time data. Analysts can use digital twins to better understand a supply chain's behavior, foresee uncommon circumstances, and create an action plan to cut down costs and increase process efficiency. A digital twin can aid firms in recognizing trends and simulating the effects of changes to various processes in order to improve supply chain design tests, as well as monitor risk and test probabilities. Digital twin offers a continuous, end-to-end picture of all the processes and bottlenecks associated with the supply chain, allowing manufacturers to solve problems faster and with minimal human intervention. These twins collect data to assist uncover potential flaws in all phases of delivery. For instance, a shipment digital twin will rely on data collected from sensors that communicate updated data throughout shipment, which may be evaluated to identify performance and bottlenecks during transportation and delivery journeys.
Restraint High investments associated with implementation of digital twin technology
The requirement for high investments for the deployment of digital twin solutions acts as a restraint for the growth of the market globally.
Huge capital is required to set up and install digital twins and the technologies related to it, such as smart automation and IIoT-connected control, product lifecycle management (PLM), computer-aided design (CAD) and 3D CAD, manufacturing process management (MPM), manufacturing operations management (MOM), model-based system engineering (MBSE), enterprise resource planning (ERP), and augmented reality (AR)/virtual reality (VR)/extended reality (XR). If an organization lacks the necessary building blocks and accompanying technology, the cost of establishing a digital twin grows even higher, making it much more costly. This can discourage manufacturers to adopt the technology.
Opportunity: Rising emphasis on advanced real-time data analytics
A digital twin can be used to?create twins of?components, assemblies, people, or an entire?manufacturing plant and can be combined in multiple ways to create a?solution with numerous sources of data and information.
The foundation of digital twin technology is data and analytics. The key element of digital twin includes the ability to monitor a real-world object and model a real-world object. Further, it is possible to inquire for or get alerts about particular events or changes when an item may be monitored in the real world. Whereas the ability to model a real-world object is associated with data such as identity, time, context, and events and, thus, corresponds to a unique physical thing. All of these elements of digital twin represent real-time data analysis that drives the operation of digital twin in any organization. Digital twins and analytics, once established, allow for more precise diagnostic, predictive, and optimized operations. Businesses have begun to grasp the potential of digital twins after seeing the benefits of AI and data analytics.
Challenge: Complexities associated with data collection and mathematical models
Despite the obvious benefits, a major portion of organizations are yet to implement a digital twin model for asset management and business and operation optimization.
A digital twin should be able to model simple as well as complex objects and their relationships by accurately capturing their physical properties and simulating behaviors. The main problem is obtaining data in the correct format. Classic mathematical techniques such as Bayesian estimation or Bayesian statistics are required to construct the digital model. One of the most significant challenges is that the majority of the world is inexperienced with Bayesian statistics. Furthermore, the lack of unified data from the organizations worldwide is a key challenge. In a company, data is stored in a variety of silos. The data (historical or current) required to develop a digital twin model is accessible from clients in a variety of formats. For example, some data in a supply chain is in pdf format, while others are in engineering models or CAD models. As a result, organizing that type of data from various sources is a difficulty for digital twin developers. In addition, detailed blueprints of historical systems, equipment failures, and other mathematical systems are required to create a digital twin. For instance, a digital twin should be fed with data about equipment failure modes to predict failures. Any change in equipment or asset configuration or operational state would require remodeling of the digital twin, which increases the complexity of maintaining the digital replica.
Digital Twin Market Highlights
This report categorizes the Digital twin market based on enterprise, platform, application, and region.
Digital Twin Market Highlights
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Aspects |
Details |
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By Enterprise: |
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By Application: |
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By Industry: |
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By Region: |
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Recent Developments in Digital Twin Industry
- In April 2022, GE Research (US) and GE Renewable Energy (France), subsidiaries of GE, collaborated and developed a cutting-edge artificial intelligence (AI)/machine learning (ML) technology that has the potential to save the worldwide wind industry billions of dollars in logistical expenses over the next decade. GE’s AI/ML tool uses a digital twin of the wind turbine logistics process to accurately predict and streamline logistics costs. Based on the current industry growth forecasts, AI/ML might enable a 10% decrease in logistics costs, representing a global cost savings to the wind sector of up to USD 2.6 billion annually by 2030.
- In March 2022, Microsoft announced a strategic partnership with Newcrest. The mining business of Newcrest would adopt Azure as its preferred cloud provider globally, as well as work on digital twins and a sustainability data model. Both organizations are working together on projects, including the use of digital twins to improve operational performance and developing a high-impact sustainability data model.
- In February 2022, ANSYS and Amazon Web Services announced a strategic collaboration to transform cloud-based engineering simulations. The partnership will allow ANSYS products to be deployed on AWS, making simulation workloads more user-friendly while also providing scalability and flexibility with easy access to software and storage solutions from any web browser. ANSYS can integrate AWS' comprehensive framework, which includes products such as computation, storage, internet of things (IoT), digital twin, analytics, and machine learning.
Frequently Asked Questions (FAQ):
What is the current size of the global digital twin market?
The global digital twin market is estimated to be from USD 6.9 billion in 2022 to USD 73.5 billion by 2027, at a CAGR of 60.6% during the forecast period.
What will be the dynamics for the adoption of digital twin based on enterprises?
The large enterprise segment is expected to account for the larger size of the digital twin market throughout the forecast period. It is further expected to grow at a significant rate during the forecast period. The demand for digital twin products/solutions among large enterprises is expected to be propelled by the need to revolutionize traditional business systems and enhance customer experience. The direct application of digital twin in organizations includes product design & development, predictive maintenance, inventory management, performance monitoring, and business optimization applications within the organization.
How the infrastructure industry is contributing to the overall market growth by 2027?
The digital twin market for the infrastructure industry is expected to grow at a significant rate during the forecast period. With digital twin building maintenance businesses are able to accurately forecast when and for how long certain components of a ventilation system will be in operation, if they behave as predicted, and whether or not it will be essential to replace a filter, for example. This allows for optimal technician scheduling as well as automatic ordering of essential replacement components a few weeks ahead of time.
What will be the dynamics for the use of digital twin in inventory management application?
The digital visualization provided by a warehouse’s digital twin can give timely and accurate visibility to actual inventory levels, and companies can make predictions or decisions about deliveries or stocking. In a fully integrated shipping system, IoT sensors can be placed in individual containers to track location and monitor damage or contamination for handling conditions and predict the most efficient routes. Digital twin for inventory management is mainly useful in process industries.
What are the key market dynamics influencing market growth? How will they turn into strengths or weaknesses of companies operating in the market space?
The Rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations; and increasing demand for digital twin from the healthcare industry are the major drivers for the digital twin market. Further, the rising emphasis on advanced real-time data analytics, and increasing adoption of Industry 4.0 principles create future scope for the adoption of digital twin. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 24)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 29)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 Major secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Primary interviews with experts
2.1.3.2 Primary sources
2.1.3.3 Key industry insights
2.1.3.4 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using bottom-up analysis (supply side)
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS
2.5 LIMITATIONS
2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY (Page No. - 42)
3.1 IMPACT OF COVID-19 ON DIGITAL TWIN MARKET
3.2 COVID-19 IMPACT: REALISTIC SCENARIO
3.3 COVID-19 IMPACT: OPTIMISTIC SCENARIO
3.4 COVID-19 IMPACT: PESSIMISTIC SCENARIO
4 PREMIUM INSIGHTS (Page No. - 48)
4.1 DIGITAL TWIN MARKET OVERVIEW
4.2 DIGITAL TWIN MARKET, BY APPLICATION
4.3 DIGITAL TWIN MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY
4.4 DIGITAL TWIN MARKET, BY INDUSTRY
4.5 DIGITAL TWIN MARKET, BY COUNTRY
5 MARKET OVERVIEW (Page No. - 53)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations
5.2.1.2 Increasing demand for digital twin from healthcare industry
5.2.1.3 Growing focus on predictive maintenance
5.2.2 RESTRAINTS
5.2.2.1 High investments associated with implementation of digital twin technology
5.2.2.2 Susceptibility of digital twin to cyberattacks
5.2.3 OPPORTUNITIES
5.2.3.1 Rising emphasis on advanced real-time data analytics
5.2.3.2 Increasing adoption of Industry 4.0 principles
5.2.3.3 Development of human-centered digital twins
5.2.4 CHALLENGES
5.2.4.1 Complexities associated with data collection and mathematical models
5.2.4.2 Lack of skilled workforce and awareness regarding cost benefits offered by digital twins
5.3 VALUE CHAIN ANALYSIS
5.3.1 PLANNING AND REVISING FUNDS
5.3.2 RESEARCH AND DEVELOPMENT
5.3.3 SOFTWARE DESIGN, FRAMEWORK, AND DEVELOPMENT
5.3.4 PRODUCTS/SOLUTIONS PROVIDERS
5.3.5 END-USER INDUSTRIES AND AFTER-SALES SERVICE PROVIDERS
5.4 ECOSYSTEM
5.5 PRICING ANALYSIS
5.5.1 AVERAGE SELLING PRICES, BY APPLICATION (KEY PLAYERS)
5.5.2 AVERAGE SELLING PRICE TREND
5.6 TRENDS IMPACTING CUSTOMERS’ BUSINESS
5.7 TECHNOLOGY TRENDS
5.7.1 IOT & IIOT
5.7.2 ARTIFICIAL INTELLIGENCE (AI) & MACHINE LEARNING (ML)
5.7.3 EXTENDED REALITY: AUGMENTED REALITY, VIRTUAL REALITY & MIXED REALITY
5.7.4 5G
5.7.5 CLOUD COMPUTING & EDGE COMPUTING
5.7.6 BLOCKCHAIN
5.8 DIGITAL TWIN MARKET: PORTER’S FIVE FORCES ANALYSIS
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF BUYERS
5.8.4 BARGAINING POWER OF SUPPLIERS
5.8.5 INTENSITY OF COMPETITIVE RIVALRY
5.9 KEY STAKEHOLDERS & BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.9.2 BUYING CRITERIA
5.10 CASE STUDIES
5.10.1 USE CASE: AEROSPACE
5.10.1.1 Integrating digital twin with AI-based predictive maintenance into aircraft fleets
5.10.2 USE CASE: AUTOMOTIVE
5.10.2.1 Optimization of automated guided vehicle logistics with digital twin platform
5.10.3 USE CASE: ENERGY & UTILITIES
5.10.3.1 Doosan optimized energy output in wind farms with Azure digital twins
5.10.4 USE CASE: HEALTHCARE
5.10.4.1 Digital twin of human body and body organs improves drug treatment
5.10.5 USE CASE: INFRASTRUCTURE
5.10.5.1 Temple University used smart building digital twin for optimizing operations across university
5.11 TRADE ANALYSIS
5.11.1.1.1 IMPORT SCENARIO
5.11.1.2 Import scenario for the digital twin ecosystem
5.11.1.2.1 EXPORT SCENARIO
5.11.1.3 Export scenario for digital twin market
5.12 PATENT ANALYSIS
5.13 KEY CONFERENCES & EVENTS TO BE HELD DURING 2022–2023
5.14 TARIFFS AND REGULATIONS
5.14.1 TARIFFS
5.14.1.1 Positive impact of tariffs on digital twin ecosystem
5.14.1.2 Negative impact of tariffs on digital twin ecosystem
5.14.2 REGULATIONS AND STANDARDS
5.14.2.1 Regulatory bodies, government agencies & other organizations
5.14.2.2 Major standards and regulations
6 DIGITAL TWIN MARKET, BY USAGE TYPE (Page No. - 100)
6.1 INTRODUCTION
6.2 COMPONENT DIGITAL TWIN
6.3 PRODUCT DIGITAL TWIN
6.4 PROCESS DIGITAL TWIN
6.5 SYSTEM DIGITAL TWIN
7 DIGITAL TWIN MARKET, BY ENTERPRISE (Page No. - 103)
7.1 INTRODUCTION
7.2 LARGE ENTERPRISES
7.2.1 LARGE ENTERPRISES USE DIGITAL TWIN FOR TRACKING ASSET THROUGHOUT SUPPLY CHAIN
7.3 SMALL & MEDIUM ENTERPRISES (SMES)
7.3.1 SMES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
8 DIGITAL TWIN MARKET, BY APPLICATION (Page No. - 110)
8.1 INTRODUCTION
8.2 PRODUCT DESIGN & DEVELOPMENT
8.2.1 PRODUCT DESIGN & DEVELOPMENT OFFERS CRITICAL INSIGHTS BY MONITORING KEY PERFORMANCE INDICATORS OF OPERATIONS IN REAL TIME
8.3 PERFORMANCE MONITORING
8.3.1 PERFORMANCE MONITORING OPTIMIZE OPERATIONAL DOWNTIME, TRIGGER PRE-EMPTIVE MAINTENANCE, AND MITIGATE COSTLY FAILURES
8.4 PREDICTIVE MAINTENANCE
8.4.1 DIGITAL TWIN PREDICTS FAILURES BASED ON REAL-TIME DATA COLLECTION
8.5 INVENTORY MANAGEMENT
8.5.1 DIGITAL TWINS AID END USERS IN INVENTORY OPTIMIZATION ACROSS ENTIRE NETWORK
8.6 BUSINESS OPTIMIZATION
8.6.1 BUSINESS OPTIMIZATION APPLICATION TO REGISTER HIGHEST GROWTH IN DIGITAL TWIN MARKET DURING FORECAST PERIOD
8.7 OTHER APPLICATIONS
9 DIGITAL TWIN MARKET, BY INDUSTRY (Page No. - 125)
9.1 INTRODUCTION
9.2 AEROSPACE
9.2.1 AEROSPACE INDUSTRY LEVERAGES DIGITAL TWIN FOR PRODUCT DESIGNING & DEVELOPMENT, AND MAINTENANCE PURPOSE
9.3 AUTOMOTIVE & TRANSPORTATION
9.3.1 AUTOMOTIVE & TRANSPORTATION INDUSTRY USE DIGITAL TWIN MAINLY FOR PRODUCT DESIGN & DEVELOPMENT
9.4 INFRASTRUCTURE
9.4.1 INITIATION OF SMART CITY PROJECTS TO PROPEL DIGITAL TWIN MARKET
9.5 HEALTHCARE
9.5.1 GROWING DIGITALIZATION IN HEALTHCARE TO BOOST ADOPTION OF DIGITAL TWIN TECHNOLOGY
9.6 ENERGY & UTILITIES
9.6.1 DIGITAL TWIN HELPS UTILITIES TO IMPROVE PRODUCTIVITY AND EMERGENCY RESPONSE
9.7 OIL & GAS
9.7.1 PREDICTIVE MAINTENANCE APPLICATION TO HOLD MAXIMUM SHARE OF THE OIL & GAS DIGITAL TWIN MARKET
9.8 AGRICULTURE
9.8.1 FOCUS ON REAL-TIME MONITORING OF CROPS AND AGRICULTURAL MACHINES TO BOOST DIGITAL TWIN ADOPTION
9.9 TELECOMMUNICATIONS
9.9.1 5G COMMERCIALIZATION WOULD FUEL DEMAND FOR DIGITAL TWIN IN TELECOMMUNICATIONS
9.10 RETAIL
9.10.1 DIGITAL TWIN ENABLES TRACKING OF PRODUCT ACROSS SUPPLY CHAIN FOR INVENTORY MANAGEMENT
9.11 OTHER INDUSTRIES
10 REGIONAL ANALYSIS (Page No. - 153)
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.1.1 Increasing demand from automotive and transportation industries drives digital twin market
10.2.2 CANADA
10.2.2.1 Growing adoption of renewables and advanced technologies to boost demand for digital twin
10.2.3 MEXICO
10.2.3.1 Expanding economy and government initiatives for developing automotive and energy & utilities industries to support digital twin market
10.3 EUROPE
10.3.1 GERMANY
10.3.1.1 Rising production of EVs to drive digital twin market
10.3.2 FRANCE
10.3.2.1 Rising investments in vehicle manufacturing to boost demand for digital twins
10.3.3 UK
10.3.3.1 Steady development of renewable energy infrastructure and adoption of 5G and IoT to drive market growth
10.3.4 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 CHINA
10.4.1.1 Rapid adoption of Industry 4.0 principles to drive market in China
10.4.2 JAPAN
10.4.2.1 Heightened focus on incorporation of advanced technologies in manufacturing to fuel market
10.4.3 INDIA
10.4.3.1 Rising government initiatives for smart manufacturing to boost digital twin market in India
10.4.4 SOUTH KOREA
10.4.4.1 Increasing government investments to spur market growth
10.4.5 REST OF ASIA PACIFIC
10.5 REST OF THE WORLD
10.5.1 SOUTH AMERICA
10.5.1.1 Surging adoption of IIoT in mining and other industries to drive digital twin market
10.5.2 MIDDLE EAST
10.5.2.1 Saudi Arabia
10.5.2.2 Growing implementation of advanced technologies in oil & gas and other industries to propel market growth
10.5.2.3 UAE
10.5.2.4 Government initiatives to promote smart manufacturing to augment demand for digital twin in UAE
10.5.2.5 Rest of the Middle East
10.5.3 AFRICA
10.5.3.1 Demand from energy & utilities industry to underpin market growth in Africa
11 COMPETITIVE LANDSCAPE (Page No. - 187)
11.1 OVERVIEW
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
11.2.1 PRODUCT/SOLUTION PORTFOLIO
11.2.2 REGIONAL FOCUS
11.2.3 INDUSTRY FOOTPRINT
11.2.4 ORGANIC/INORGANIC PLAY
11.3 TOP COMPANY REVENUE ANALYSIS
11.4 MARKET SHARE ANALYSIS, 2021
11.5 COMPANY EVALUATION QUADRANT, 2021
11.5.1 STAR
11.5.2 EMERGING LEADER
11.5.3 PERVASIVE
11.5.4 PARTICIPANT
11.6 STARTUP/SME EVALUATION QUADRANT, 2021
11.6.1 PROGRESSIVE COMPANY
11.6.2 RESPONSIVE COMPANY
11.6.3 DYNAMIC COMPANY
11.6.4 STARTING BLOCK
11.7 DIGITAL TWIN MARKET: COMPANY FOOTPRINT (25 COMPANIES)
11.8 COMPETITIVE BENCHMARKING
11.9 COMPETITIVE SCENARIO AND TRENDS
11.9.1 PRODUCT LAUNCHES
11.9.2 DEALS
11.9.3 OTHERS
12 COMPANY PROFILES (Page No. - 209)
12.1 KEY PLAYERS
12.1.1 GENERAL ELECTRIC
12.1.1.1 Business overview
12.1.1.2 Products/solutions offered
12.1.1.3 Recent developments
12.1.1.3.1 Product launches
12.1.1.3.2 Deals
12.1.1.4 MnM view
12.1.1.4.1 Key strengths/right to win
12.1.1.4.2 Strategic choices made
12.1.1.4.3 Weaknesses and competitive threats
12.1.2 MICROSOFT
12.1.2.1 Business overview
12.1.2.2 Products/solutions offered
12.1.2.3 Recent developments
12.1.2.3.1 Product launches
12.1.2.3.2 Deals
12.1.2.4 MnM view
12.1.2.4.1 Key strengths/right to win
12.1.2.4.2 Strategic choices made
12.1.2.4.3 Weaknesses and competitive threats
12.1.3 SIEMENS
12.1.3.1 Business overview
12.1.3.2 Products/solutions offered
12.1.3.3 Recent developments
12.1.3.3.1 Product launches
12.1.3.3.2 Deals
12.1.3.4 MnM view
12.1.3.4.1 Key strengths/right to win
12.1.3.4.2 Strategic choices made
12.1.3.4.3 Weaknesses and competitive threats
12.1.4 AMAZON (AWS)
12.1.4.1 Business overview
12.1.4.2 Products/solutions offered
12.1.4.3 Recent developments
12.1.4.3.1 Product launches
12.1.4.3.2 Deals
12.1.4.4 MnM view
12.1.4.4.1 Key strengths/right to win
12.1.4.4.2 Strategic choices made
12.1.4.4.3 Weaknesses and competitive threats
12.1.5 DASSAULT SYSTÈMES
12.1.5.1 Business overview
12.1.5.2 Products/solutions offered
12.1.5.3 Recent developments
12.1.5.3.1 Product launches
12.1.5.3.2 Deals
12.1.5.4 MnM view
12.1.5.4.1 Key strengths/right to win
12.1.5.4.2 Strategic choices made
12.1.5.4.3 Weaknesses and competitive threats
12.1.6 ANSYS
12.1.6.1 Business overview
12.1.6.2 Products/solutions offered
12.1.6.3 Recent developments
12.1.6.3.1 Product launches
12.1.6.3.2 Deals
12.1.6.4 MnM view
12.1.6.4.1 Key strengths/right to win
12.1.6.4.2 Strategic choices made
12.1.6.4.3 Weaknesses and competitive threats
12.1.7 IBM
12.1.7.1 Business overview
12.1.7.2 Products/solutions offered
12.1.7.3 Recent developments
12.1.7.3.1 Product launches
12.1.7.3.2 Deals
12.1.7.4 MnM view
12.1.7.4.1 Key strengths/right to win
12.1.7.4.2 Strategic choices made
12.1.7.4.3 Weaknesses and competitive threats
12.1.8 PTC
12.1.8.1 Business overview
12.1.8.2 Products/solutions offered
12.1.8.3 Recent developments
12.1.8.3.1 Product launches
12.1.8.3.2 Deals
12.1.8.4 MnM view
12.1.8.4.1 Key strengths/right to win
12.1.8.4.2 Strategic choices made
12.1.8.4.3 Weaknesses and competitive threats
12.1.9 SAP
12.1.9.1 Business overview
12.1.9.2 Products/solutions offered
12.1.9.3 Recent developments
12.1.9.3.1 Deals
12.1.9.4 MnM view
12.1.9.4.1 Key strengths/right to win
12.1.9.4.2 Strategic choices made
12.1.9.4.3 Weaknesses and competitive threats
12.1.10 ORACLE
12.1.10.1 Business overview
12.1.10.2 Products/solutions offered
12.1.10.3 Recent developments
12.1.10.3.1 Product launches
12.1.10.3.2 Deals
12.1.10.3.3 Others
12.1.10.4 MnM view
12.1.10.4.1 Key strengths/right to win
12.1.10.4.2 Strategic choices made
12.1.10.4.3 Weaknesses and competitive threats
12.1.11 ROBERT BOSCH
12.1.11.1 Business overview
12.1.11.2 Products/solutions offered
12.1.11.3 Recent developments
12.1.11.3.1 Product launches
12.1.11.3.2 Deals
12.1.11.4 MnM view
12.1.11.4.1 Key strengths/right to win
12.1.11.4.2 Strategic choices made
12.1.11.4.3 Weaknesses and competitive threats
12.2 OTHER KEY PLAYERS
12.2.1 SWIM AI
12.2.2 EMERSON
12.2.3 ABB
12.2.4 HONEYWELL
12.2.5 SCHNEIDER ELECTRIC
12.2.6 NAVVIS
12.2.7 DNV
12.2.8 AUTODESK
12.2.9 ANDRITZ
12.2.10 SOFTWARE AG
12.2.11 BENTLEY SYSTEMS
12.2.12 RIVER LOGIC
12.2.13 ALTAIR
12.2.14 JOHNSON CONTROLS
13 ADJACENT AND RELATED MARKET (Page No. - 277)
13.1 IOT SENSORS MARKET
13.2 INTRODUCTION
13.3 WIRED
13.4 WIRELESS
14 APPENDIX (Page No. - 283)
14.1 INSIGHTS OF INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 AVAILABLE CUSTOMIZATIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
LIST OF TABLES (129 Pages Report)
TABLE 1 LIST OF COMPANIES AND THEIR ROLE IN DIGITAL TWIN ECOSYSTEM
TABLE 2 AVERAGE SELLING PRICES OF PRODUCTS/SOLUTIONS, BY TOP THREE REGION (KEY PLAYERS)
TABLE 3 DIGITAL TWIN MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 4 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE INDUSTRIES (%)
TABLE 5 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
TABLE 6 TOP 15 PATENT OWNERS IN LAST 10 YEARS (2012–2021)
TABLE 7 PATENTS FILED FOR DIGITAL TWIN, 2021
TABLE 8 DIGITAL TWIN MARKET: DETAILED LIST OF CONFERENCES & EVENTS
TABLE 9 US: MFN TARIFFS FOR PRODUCTS WITH HS CODE 851769 (INCLUDING IOT & IIOT), BY KEY COUNTRY
TABLE 10 CHINA: FOR PRODUCTS WITH HS CODE 851769 (INCLUDING IOT & IIOT), BY KEY COUNTRY
TABLE 11 DIGITAL TWIN: STANDARDS AND REGULATIONS
TABLE 12 MARKET, BY ENTERPRISE, 2019–2021 (USD MILLION)
TABLE 13 MARKET, BY ENTERPRISE, 2022–2026 (USD MILLION)
TABLE 14 LARGE ENTERPRISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 15 LARGE ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 16 SMALL & MEDIUM ENTERPRISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 17 SMALL & MEDIUM ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 18 MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 19 MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 20 PRODUCT DESIGN & DEVELOPMENT: MARKET , BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 21 PRODUCT DESIGN & DEVELOPMENT: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 22 PERFORMANCE MONITORING: MARKET, 2018–2021 (USD MILLION)
TABLE 23 PERFORMANCE MONITORING: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 24 PREDICTIVE MAINTENANCE: MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 25 PREDICTIVE MAINTENANCE: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 26 INVENTORY MANAGEMENT: MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 27 INVENTORY MANAGEMENT: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 28 BUSINESS OPTIMIZATION: MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 29 BUSINESS OPTIMIZATION: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 30 OTHER APPLICATIONS: MARKET, BY INDUSTRY 2018–2021 (USD MILLION)
TABLE 31 OTHER APPLICATIONS: MARKET, BY INDUSTRY 2022–2027 (USD MILLION)
TABLE 32 MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 33 MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 34 AEROSPACE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 35 AEROSPACE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 36 AEROSPACE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 37 AEROSPACE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 38 AUTOMOTIVE & TRANSPORTATION: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 39 AUTOMOTIVE & TRANSPORTATION: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 40 AUTOMOTIVE & TRANSPORTATION: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 AUTOMOTIVE & TRANSPORTATION: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 42 INFRASTRUCTURE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 43 INFRASTRUCTURE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 44 INFRASTRUCTURE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 45 INFRASTRUCTURE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 46 HEALTHCARE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 47 HEALTHCARE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 48 HEALTHCARE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 49 HEALTHCARE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 50 ENERGY & UTILITIES: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 51 ENERGY & UTILITIES: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 52 ENERGY & UTILITIES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 53 ENERGY & UTILITIES: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 54 OIL & GAS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 55 OIL & GAS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 56 OIL & GAS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 OIL & GAS: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 58 AGRICULTURE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 59 AGRICULTURE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 60 AGRICULTURE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 61 AGRICULTURE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 62 TELECOMMUNICATIONS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 63 TELECOMMUNICATIONS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 64 TELECOMMUNICATIONS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 TELECOMMUNICATIONS: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 66 RETAIL: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 67 RETAIL: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 68 RETAIL: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 69 RETAIL: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 70 OTHER APPLICATIONS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 71 OTHER APPLICATIONS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 72 OTHER APPLICATIONS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 73 OTHER APPLICATIONS: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 74 MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 75 MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 76 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 77 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 78 NORTH AMERICA: MARKET, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 79 NORTH AMERICA: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 80 NORTH AMERICA: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 81 NORTH AMERICA: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 82 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 83 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 84 EUROPE: MARKET, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 85 EUROPE: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 86 EUROPE: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 87 EUROPE: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 88 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 89 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 90 ASIA PACIFIC: MARKET SIZE, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 91 ASIA PACIFIC: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 92 ASIA PACIFIC: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 93 ASIA PACIFIC: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 94 REST OF THE WORLD: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 95 REST OF THE WORLD: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 96 REST OF THE WORLD: MARKET, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 97 REST OF THE WORLD: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 98 REST OF THE WORLD: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 99 REST OF THE WORLD: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 100 MIDDLE EAST: MARKET SIZE, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 101 MIDDLE EAST: MARKET SIZE, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 102 OVERVIEW OF STRATEGIES DEPLOYED BY DIGITAL TWIN COMPANIES
TABLE 103 DEGREE OF COMPETITION, MARKET (2021)
TABLE 104 COMPANY FOOTPRINT
TABLE 105 COMPANY INDUSTRY FOOTPRINT (25 COMPANIES)
TABLE 106 COMPANY ENTERPRISE FOOTPRINT (25 COMPANIES)
TABLE 107 COMPANY REGION FOOTPRINT (25 COMPANIES)
TABLE 108 DIGITAL TWIN MARKET: DETAILED LIST OF KEY STARTUP/SMES
TABLE 109 DIGITAL TWIN MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 110 PRODUCT LAUNCHES, JANUARY–MAY 2022
TABLE 111 DEALS, JANUARY 2022–MAY 2022
TABLE 112 EXPANSIONS, APRIL 2022
TABLE 113 GENERAL ELECTRIC: BUSINESS OVERVIEW
TABLE 114 MICROSOFT: BUSINESS OVERVIEW
TABLE 115 SIEMENS: BUSINESS OVERVIEW
TABLE 116 AMAZON: BUSINESS OVERVIEW
TABLE 117 DASSAULT SYSTÈMES: BUSINESS OVERVIEW
TABLE 118 ANSYS: BUSINESS OVERVIEW
TABLE 119 IBM: BUSINESS OVERVIEW
TABLE 120 PTC: BUSINESS OVERVIEW
TABLE 121 SAP: BUSINESS OVERVIEW
TABLE 122 ORACLE: BUSINESS OVERVIEW
TABLE 123 ROBERT BOSCH: BUSINESS OVERVIEW
TABLE 124 IOT SENSORS MARKET, BY NETWORK TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 125 IOT SENSORS MARKET, BY NETWORK TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 126 IOT SENSORS MARKET FOR WIRED TECHNOLOGY, BY TYPE, 2017–2020 (USD MILLION)
TABLE 127 IOT SENSORS MARKET FOR WIRED TECHNOLOGY, BY TYPE, 2021–2026 (USD MILLION)
TABLE 128 IOT SENSORS MARKET FOR WIRELESS TECHNOLOGY, BY TYPE, 2017–2020 (USD MILLION)
TABLE 129 IOT SENSORS MARKET FOR WIRELESS TECHNOLOGY, BY TYPE, 2021–2026 (USD MILLION)
LIST OF FIGURES (68 FIGURES)
FIGURE 1 DIGITAL TWIN MARKET: SEGMENTATION
FIGURE 2 DIGITAL TWINS MARKET, BY REGION
FIGURE 3 MARKET: RESEARCH DESIGN
FIGURE 4 MARKET: RESEARCH APPROACH
FIGURE 5 BOTTOM-UP APPROACH
FIGURE 6 TOP-DOWN APPROACH
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE) — REVENUE GENERATED BY COMPANIES IN MARKET
FIGURE 8 MARKET: DATA TRIANGULATION
FIGURE 9 MARKET: REALISTIC, PESSIMISTIC, AND OPTIMISTIC RECOVERY SCENARIOS
FIGURE 10 PREDICTIVE MAINTENANCE SEGMENT TO HOLD LARGEST SHARE OF MARKET, BY APPLICATION, DURING FORECAST PERIOD
FIGURE 11 SMALL & MEDIUM ENTERPRISE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 12 HEALTHCARE INDUSTRY TO REGISTER HIGHEST CAGR IN MARKET FROM 2022 TO 2027
FIGURE 13 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF MARKET IN 2021
FIGURE 14 RISING EMPHASIS ON DIGITAL TWIN IN MANUFACTURING TO FUEL MARKET GROWTH
FIGURE 15 PREDICTIVE MAINTENANCE APPLICATION TO HOLD LARGEST SHARE OF MARKET DURING FORECAST PERIOD
FIGURE 16 AUTOMOTIVE & TRANSPORTATION INDUSTRY AND US TO ACCOUNT FOR LARGEST SHARES OF NORTH AMERICA MARKET IN 2022
FIGURE 17 HEALTHCARE INDUSTRY TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 18 US TO DOMINATE GLOBAL MARKET DURING FORECAST PERIOD
FIGURE 19 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 20 IMPACT OF DRIVERS ON MARKET
FIGURE 21 IMPACT OF RESTRAINTS ON MARKET
FIGURE 22 IMPACT OF OPPORTUNITIES ON MARKET
FIGURE 23 IMPACT OF CHALLENGES ON MARKET
FIGURE 24 VALUE CHAIN ANALYSIS: MARKET
FIGURE 25 DIGITAL TWIN ECOSYSTEM
FIGURE 26 AVERAGE SELLING PRICES OF PRODUCTS/SOLUTIONS, BY TOP THREE REGION (KEY PLAYERS)
FIGURE 27 MARKET: DIGITAL TWIN SOLUTION BUDGET TREND
FIGURE 28 REVENUE SHIFT IN MARKET
FIGURE 29 DIGITAL TWIN AND RELATED TECHNOLOGIES
FIGURE 30 PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE INDUSTRIES
FIGURE 32 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
FIGURE 33 IMPORT DATA FOR HS CODE 851769 FOR TOP COUNTRIES, 2017–2021 (USD MILLION)
FIGURE 34 EXPORT DATA FOR HS CODE 851769 FOR TOP COUNTRIES, 2017–2021 (USD MILLION)
FIGURE 35 DIGITAL TWIN PATENTS FROM 2012 TO 2021
FIGURE 36 TOP 10 COMPANIES WITH LARGEST NUMBER OF PATENT APPLICATIONS FOR DIGITAL TWINS, 2012–2021
FIGURE 37 VARIOUS STANDARDS & REGULATIONS FOR DIGITAL TWIN
FIGURE 38 MARKET, BY USAGE TYPE
FIGURE 39 MARKET, BY ENTERPRISE
FIGURE 40 MARKET FOR SMALL & MEDIUM ENTERPRISES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 41 MARKET, BY APPLICATION
FIGURE 42 PREDICTIVE MAINTENANCE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING FORECAST PERIOD
FIGURE 43 MARKET, BY INDUSTRY
FIGURE 44 HEALTHCARE SEGMENT EXPECTED TO GROW AT HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
FIGURE 45 PREDICTIVE MAINTENANCE APPLICATION TO ACCOUNT FOR LARGEST SHARE OF MARKET FOR HEALTHCARE DURING FORECAST PERIOD
FIGURE 46 MARKET IN CHINA TO REGISTER HIGHEST CAGR FROM 2022 TO 2027
FIGURE 47 NORTH AMERICA TO DOMINATE MARKET DURING FORECAST PERIOD
FIGURE 48 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 49 EUROPE: MARKET SNAPSHOT
FIGURE 50 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 51 REST OF THE WORLD: MARKET SNAPSHOT
FIGURE 52 MARKET: COMPANY EVALUATION QUADRANT, 2021
FIGURE 53 MARKET: COMPANY EVALUATION QUADRANT, 2021
FIGURE 54 MARKET, STARTUPS/SME EVALUATION QUADRANT, 2021
FIGURE 55 GENERAL ELECTRIC: COMPANY SNAPSHOT
FIGURE 56 MICROSOFT: COMPANY SNAPSHOT
FIGURE 57 SIEMENS: COMPANY SNAPSHOT
FIGURE 58 AMAZON: COMPANY SNAPSHOT
FIGURE 59 DASSAULT SYSTÈMES: COMPANY SNAPSHOT
FIGURE 60 ANSYS: COMPANY SNAPSHOT
FIGURE 61 IBM: COMPANY SNAPSHOT
FIGURE 62 PTC: COMPANY SNAPSHOT
FIGURE 63 SAP: COMPANY SNAPSHOT
FIGURE 64 ORACLE: COMPANY SNAPSHOT
FIGURE 65 ROBERT BOSCH: COMPANY SNAPSHOT
FIGURE 66 SNAPSHOT OF KEY NETWORK TECHNOLOGIES IN IOT SENSORS MARKET
FIGURE 67 WIRELESS NETWORK TECHNOLOGY SEGMENT TO LEAD IOT SENSORS MARKET FROM 2021 TO 2026
FIGURE 68 ETHERNET SEGMENT TO HOLD LARGEST SIZE OF IOT SENSORS MARKET FOR WIRED TECHNOLOGY FROM 2021 TO 2026
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 24)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 29)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 Major secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Primary interviews with experts
2.1.3.2 Primary sources
2.1.3.3 Key industry insights
2.1.3.4 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using bottom-up analysis (supply side)
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS
2.5 LIMITATIONS
2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY (Page No. - 42)
3.1 IMPACT OF COVID-19 ON DIGITAL TWIN MARKET
3.2 COVID-19 IMPACT: REALISTIC SCENARIO
3.3 COVID-19 IMPACT: OPTIMISTIC SCENARIO
3.4 COVID-19 IMPACT: PESSIMISTIC SCENARIO
4 PREMIUM INSIGHTS (Page No. - 48)
4.1 DIGITAL TWIN MARKET OVERVIEW
4.2 MARKET, BY APPLICATION
4.3 MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY
4.4 MARKET, BY INDUSTRY
4.5 MARKET, BY COUNTRY
5 MARKET OVERVIEW (Page No. - 53)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations
5.2.1.2 Increasing demand for digital twin from healthcare industry
5.2.1.3 Growing focus on predictive maintenance
5.2.2 RESTRAINTS
5.2.2.1 High investments associated with implementation of digital twin technology
5.2.2.2 Susceptibility of digital twin to cyberattacks
5.2.3 OPPORTUNITIES
5.2.3.1 Rising emphasis on advanced real-time data analytics
5.2.3.2 Increasing adoption of Industry 4.0 principles
5.2.3.3 Development of human-centered digital twins
5.2.4 CHALLENGES
5.2.4.1 Complexities associated with data collection and mathematical models
5.2.4.2 Lack of skilled workforce and awareness regarding cost benefits offered by digital twins
5.3 VALUE CHAIN ANALYSIS
5.3.1 PLANNING AND REVISING FUNDS
5.3.2 RESEARCH AND DEVELOPMENT
5.3.3 SOFTWARE DESIGN, FRAMEWORK, AND DEVELOPMENT
5.3.4 PRODUCTS/SOLUTIONS PROVIDERS
5.3.5 END-USER INDUSTRIES AND AFTER-SALES SERVICE PROVIDERS
5.4 ECOSYSTEM
5.5 PRICING ANALYSIS
5.5.1 AVERAGE SELLING PRICES, BY APPLICATION (KEY PLAYERS)
5.5.2 AVERAGE SELLING PRICE TREND
5.6 TRENDS IMPACTING CUSTOMERS’ BUSINESS
5.7 TECHNOLOGY TRENDS
5.7.1 IOT & IIOT
5.7.2 ARTIFICIAL INTELLIGENCE (AI) & MACHINE LEARNING (ML)
5.7.3 EXTENDED REALITY: AUGMENTED REALITY, VIRTUAL REALITY & MIXED REALITY
5.7.4 5G
5.7.5 CLOUD COMPUTING & EDGE COMPUTING
5.7.6 BLOCKCHAIN
5.8 DIGITAL TWIN MARKET: PORTER’S FIVE FORCES ANALYSIS
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF BUYERS
5.8.4 BARGAINING POWER OF SUPPLIERS
5.8.5 INTENSITY OF COMPETITIVE RIVALRY
5.9 KEY STAKEHOLDERS & BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.9.2 BUYING CRITERIA
5.10 CASE STUDIES
5.10.1 USE CASE: AEROSPACE
5.10.1.1 Integrating digital twin with AI-based predictive maintenance into aircraft fleets
5.10.2 USE CASE: AUTOMOTIVE
5.10.2.1 Optimization of automated guided vehicle logistics with digital twin platform
5.10.3 USE CASE: ENERGY & UTILITIES
5.10.3.1 Doosan optimized energy output in wind farms with Azure digital twins
5.10.4 USE CASE: HEALTHCARE
5.10.4.1 Digital twin of human body and body organs improves drug treatment
5.10.5 USE CASE: INFRASTRUCTURE
5.10.5.1 Temple University used smart building digital twin for optimizing operations across university
5.11 TRADE ANALYSIS
5.11.1.1.1 IMPORT SCENARIO
5.11.1.2 Import scenario for the digital twin ecosystem
5.11.1.2.1 EXPORT SCENARIO
5.11.1.3 Export scenario for digital twin market
5.12 PATENT ANALYSIS
5.13 KEY CONFERENCES & EVENTS TO BE HELD DURING 2022–2023
5.14 TARIFFS AND REGULATIONS
5.14.1 TARIFFS
5.14.1.1 Positive impact of tariffs on digital twin ecosystem
5.14.1.2 Negative impact of tariffs on digital twin ecosystem
5.14.2 REGULATIONS AND STANDARDS
5.14.2.1 Regulatory bodies, government agencies & other organizations
5.14.2.2 Major standards and regulations
6 DIGITAL TWIN MARKET, BY USAGE TYPE (Page No. - 100)
6.1 INTRODUCTION
6.2 COMPONENT DIGITAL TWIN
6.3 PRODUCT DIGITAL TWIN
6.4 PROCESS DIGITAL TWIN
6.5 SYSTEM DIGITAL TWIN
7 DIGITAL TWIN MARKET, BY ENTERPRISE (Page No. - 103)
7.1 INTRODUCTION
7.2 LARGE ENTERPRISES
7.2.1 LARGE ENTERPRISES USE DIGITAL TWIN FOR TRACKING ASSET THROUGHOUT SUPPLY CHAIN
7.3 SMALL & MEDIUM ENTERPRISES (SMES)
7.3.1 SMES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
8 DIGITAL TWIN MARKET, BY APPLICATION (Page No. - 110)
8.1 INTRODUCTION
8.2 PRODUCT DESIGN & DEVELOPMENT
8.2.1 PRODUCT DESIGN & DEVELOPMENT OFFERS CRITICAL INSIGHTS BY MONITORING KEY PERFORMANCE INDICATORS OF OPERATIONS IN REAL TIME
8.3 PERFORMANCE MONITORING
8.3.1 PERFORMANCE MONITORING OPTIMIZE OPERATIONAL DOWNTIME, TRIGGER PRE-EMPTIVE MAINTENANCE, AND MITIGATE COSTLY FAILURES
8.4 PREDICTIVE MAINTENANCE
8.4.1 DIGITAL TWIN PREDICTS FAILURES BASED ON REAL-TIME DATA COLLECTION
8.5 INVENTORY MANAGEMENT
8.5.1 DIGITAL TWINS AID END USERS IN INVENTORY OPTIMIZATION ACROSS ENTIRE NETWORK
8.6 BUSINESS OPTIMIZATION
8.6.1 BUSINESS OPTIMIZATION APPLICATION TO REGISTER HIGHEST GROWTH IN DIGITAL TWIN MARKET DURING FORECAST PERIOD
8.7 OTHER APPLICATIONS
9 DIGITAL TWIN MARKET, BY INDUSTRY (Page No. - 125)
9.1 INTRODUCTION
9.2 AEROSPACE
9.2.1 AEROSPACE INDUSTRY LEVERAGES DIGITAL TWIN FOR PRODUCT DESIGNING & DEVELOPMENT, AND MAINTENANCE PURPOSE
9.3 AUTOMOTIVE & TRANSPORTATION
9.3.1 AUTOMOTIVE & TRANSPORTATION INDUSTRY USE DIGITAL TWIN MAINLY FOR PRODUCT DESIGN & DEVELOPMENT
9.4 INFRASTRUCTURE
9.4.1 INITIATION OF SMART CITY PROJECTS TO PROPEL MARKET
9.5 HEALTHCARE
9.5.1 GROWING DIGITALIZATION IN HEALTHCARE TO BOOST ADOPTION OF DIGITAL TWIN TECHNOLOGY
9.6 ENERGY & UTILITIES
9.6.1 DIGITAL TWIN HELPS UTILITIES TO IMPROVE PRODUCTIVITY AND EMERGENCY RESPONSE
9.7 OIL & GAS
9.7.1 PREDICTIVE MAINTENANCE APPLICATION TO HOLD MAXIMUM SHARE OF THE OIL & GAS MARKET
9.8 AGRICULTURE
9.8.1 FOCUS ON REAL-TIME MONITORING OF CROPS AND AGRICULTURAL MACHINES TO BOOST DIGITAL TWIN ADOPTION
9.9 TELECOMMUNICATIONS
9.9.1 5G COMMERCIALIZATION WOULD FUEL DEMAND FOR DIGITAL TWIN IN TELECOMMUNICATIONS
9.10 RETAIL
9.10.1 DIGITAL TWIN ENABLES TRACKING OF PRODUCT ACROSS SUPPLY CHAIN FOR INVENTORY MANAGEMENT
9.11 OTHER INDUSTRIES
10 REGIONAL ANALYSIS (Page No. - 153)
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.1.1 Increasing demand from automotive and transportation industries drives market
10.2.2 CANADA
10.2.2.1 Growing adoption of renewables and advanced technologies to boost demand for digital twin
10.2.3 MEXICO
10.2.3.1 Expanding economy and government initiatives for developing automotive and energy & utilities industries to support market
10.3 EUROPE
10.3.1 GERMANY
10.3.1.1 Rising production of EVs to drive market
10.3.2 FRANCE
10.3.2.1 Rising investments in vehicle manufacturing to boost demand for digital twins
10.3.3 UK
10.3.3.1 Steady development of renewable energy infrastructure and adoption of 5G and IoT to drive market growth
10.3.4 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 CHINA
10.4.1.1 Rapid adoption of Industry 4.0 principles to drive market in China
10.4.2 JAPAN
10.4.2.1 Heightened focus on incorporation of advanced technologies in manufacturing to fuel market
10.4.3 INDIA
10.4.3.1 Rising government initiatives for smart manufacturing to boost market in India
10.4.4 SOUTH KOREA
10.4.4.1 Increasing government investments to spur market growth
10.4.5 REST OF ASIA PACIFIC
10.5 REST OF THE WORLD
10.5.1 SOUTH AMERICA
10.5.1.1 Surging adoption of IIoT in mining and other industries to drive market
10.5.2 MIDDLE EAST
10.5.2.1 Saudi Arabia
10.5.2.2 Growing implementation of advanced technologies in oil & gas and other industries to propel market growth
10.5.2.3 UAE
10.5.2.4 Government initiatives to promote smart manufacturing to augment demand for digital twin in UAE
10.5.2.5 Rest of the Middle East
10.5.3 AFRICA
10.5.3.1 Demand from energy & utilities industry to underpin market growth in Africa
11 COMPETITIVE LANDSCAPE (Page No. - 187)
11.1 OVERVIEW
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
11.2.1 PRODUCT/SOLUTION PORTFOLIO
11.2.2 REGIONAL FOCUS
11.2.3 INDUSTRY FOOTPRINT
11.2.4 ORGANIC/INORGANIC PLAY
11.3 TOP COMPANY REVENUE ANALYSIS
11.4 MARKET SHARE ANALYSIS, 2021
11.5 COMPANY EVALUATION QUADRANT, 2021
11.5.1 STAR
11.5.2 EMERGING LEADER
11.5.3 PERVASIVE
11.5.4 PARTICIPANT
11.6 STARTUP/SME EVALUATION QUADRANT, 2021
11.6.1 PROGRESSIVE COMPANY
11.6.2 RESPONSIVE COMPANY
11.6.3 DYNAMIC COMPANY
11.6.4 STARTING BLOCK
11.7 DIGITAL TWIN MARKET: COMPANY FOOTPRINT (25 COMPANIES)
11.8 COMPETITIVE BENCHMARKING
11.9 COMPETITIVE SCENARIO AND TRENDS
11.9.1 PRODUCT LAUNCHES
11.9.2 DEALS
11.9.3 OTHERS
12 COMPANY PROFILES (Page No. - 209)
12.1 KEY PLAYERS
12.1.1 GENERAL ELECTRIC
12.1.1.1 Business overview
12.1.1.2 Products/solutions offered
12.1.1.3 Recent developments
12.1.1.3.1 Product launches
12.1.1.3.2 Deals
12.1.1.4 MnM view
12.1.1.4.1 Key strengths/right to win
12.1.1.4.2 Strategic choices made
12.1.1.4.3 Weaknesses and competitive threats
12.1.2 MICROSOFT
12.1.2.1 Business overview
12.1.2.2 Products/solutions offered
12.1.2.3 Recent developments
12.1.2.3.1 Product launches
12.1.2.3.2 Deals
12.1.2.4 MnM view
12.1.2.4.1 Key strengths/right to win
12.1.2.4.2 Strategic choices made
12.1.2.4.3 Weaknesses and competitive threats
12.1.3 SIEMENS
12.1.3.1 Business overview
12.1.3.2 Products/solutions offered
12.1.3.3 Recent developments
12.1.3.3.1 Product launches
12.1.3.3.2 Deals
12.1.3.4 MnM view
12.1.3.4.1 Key strengths/right to win
12.1.3.4.2 Strategic choices made
12.1.3.4.3 Weaknesses and competitive threats
12.1.4 AMAZON (AWS)
12.1.4.1 Business overview
12.1.4.2 Products/solutions offered
12.1.4.3 Recent developments
12.1.4.3.1 Product launches
12.1.4.3.2 Deals
12.1.4.4 MnM view
12.1.4.4.1 Key strengths/right to win
12.1.4.4.2 Strategic choices made
12.1.4.4.3 Weaknesses and competitive threats
12.1.5 DASSAULT SYSTÈMES
12.1.5.1 Business overview
12.1.5.2 Products/solutions offered
12.1.5.3 Recent developments
12.1.5.3.1 Product launches
12.1.5.3.2 Deals
12.1.5.4 MnM view
12.1.5.4.1 Key strengths/right to win
12.1.5.4.2 Strategic choices made
12.1.5.4.3 Weaknesses and competitive threats
12.1.6 ANSYS
12.1.6.1 Business overview
12.1.6.2 Products/solutions offered
12.1.6.3 Recent developments
12.1.6.3.1 Product launches
12.1.6.3.2 Deals
12.1.6.4 MnM view
12.1.6.4.1 Key strengths/right to win
12.1.6.4.2 Strategic choices made
12.1.6.4.3 Weaknesses and competitive threats
12.1.7 IBM
12.1.7.1 Business overview
12.1.7.2 Products/solutions offered
12.1.7.3 Recent developments
12.1.7.3.1 Product launches
12.1.7.3.2 Deals
12.1.7.4 MnM view
12.1.7.4.1 Key strengths/right to win
12.1.7.4.2 Strategic choices made
12.1.7.4.3 Weaknesses and competitive threats
12.1.8 PTC
12.1.8.1 Business overview
12.1.8.2 Products/solutions offered
12.1.8.3 Recent developments
12.1.8.3.1 Product launches
12.1.8.3.2 Deals
12.1.8.4 MnM view
12.1.8.4.1 Key strengths/right to win
12.1.8.4.2 Strategic choices made
12.1.8.4.3 Weaknesses and competitive threats
12.1.9 SAP
12.1.9.1 Business overview
12.1.9.2 Products/solutions offered
12.1.9.3 Recent developments
12.1.9.3.1 Deals
12.1.9.4 MnM view
12.1.9.4.1 Key strengths/right to win
12.1.9.4.2 Strategic choices made
12.1.9.4.3 Weaknesses and competitive threats
12.1.10 ORACLE
12.1.10.1 Business overview
12.1.10.2 Products/solutions offered
12.1.10.3 Recent developments
12.1.10.3.1 Product launches
12.1.10.3.2 Deals
12.1.10.3.3 Others
12.1.10.4 MnM view
12.1.10.4.1 Key strengths/right to win
12.1.10.4.2 Strategic choices made
12.1.10.4.3 Weaknesses and competitive threats
12.1.11 ROBERT BOSCH
12.1.11.1 Business overview
12.1.11.2 Products/solutions offered
12.1.11.3 Recent developments
12.1.11.3.1 Product launches
12.1.11.3.2 Deals
12.1.11.4 MnM view
12.1.11.4.1 Key strengths/right to win
12.1.11.4.2 Strategic choices made
12.1.11.4.3 Weaknesses and competitive threats
12.2 OTHER KEY PLAYERS
12.2.1 SWIM AI
12.2.2 EMERSON
12.2.3 ABB
12.2.4 HONEYWELL
12.2.5 SCHNEIDER ELECTRIC
12.2.6 NAVVIS
12.2.7 DNV
12.2.8 AUTODESK
12.2.9 ANDRITZ
12.2.10 SOFTWARE AG
12.2.11 BENTLEY SYSTEMS
12.2.12 RIVER LOGIC
12.2.13 ALTAIR
12.2.14 JOHNSON CONTROLS
13 ADJACENT AND RELATED MARKET (Page No. - 277)
13.1 IOT SENSORS MARKET
13.2 INTRODUCTION
13.3 WIRED
13.4 WIRELESS
14 APPENDIX (Page No. - 283)
14.1 INSIGHTS OF INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 AVAILABLE CUSTOMIZATIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
LIST OF TABLES (129 Pages Report)
TABLE 1 LIST OF COMPANIES AND THEIR ROLE IN DIGITAL TWIN ECOSYSTEM
TABLE 2 AVERAGE SELLING PRICES OF PRODUCTS/SOLUTIONS, BY TOP THREE REGION (KEY PLAYERS)
TABLE 3 DIGITAL TWIN MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 4 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE INDUSTRIES (%)
TABLE 5 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
TABLE 6 TOP 15 PATENT OWNERS IN LAST 10 YEARS (2012–2021)
TABLE 7 PATENTS FILED FOR DIGITAL TWIN, 2021
TABLE 8 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
TABLE 9 US: MFN TARIFFS FOR PRODUCTS WITH HS CODE 851769 (INCLUDING IOT & IIOT), BY KEY COUNTRY
TABLE 10 CHINA: FOR PRODUCTS WITH HS CODE 851769 (INCLUDING IOT & IIOT), BY KEY COUNTRY
TABLE 11 DIGITAL TWIN: STANDARDS AND REGULATIONS
TABLE 12 MARKET, BY ENTERPRISE, 2019–2021 (USD MILLION)
TABLE 13 MARKET, BY ENTERPRISE, 2022–2026 (USD MILLION)
TABLE 14 LARGE ENTERPRISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 15 LARGE ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 16 SMALL & MEDIUM ENTERPRISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 17 SMALL & MEDIUM ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 18 MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 19 MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 20 PRODUCT DESIGN & DEVELOPMENT: MARKET , BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 21 PRODUCT DESIGN & DEVELOPMENT: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 22 PERFORMANCE MONITORING: MARKET, 2018–2021 (USD MILLION)
TABLE 23 PERFORMANCE MONITORING: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 24 PREDICTIVE MAINTENANCE: MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 25 PREDICTIVE MAINTENANCE: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 26 INVENTORY MANAGEMENT: MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 27 INVENTORY MANAGEMENT: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 28 BUSINESS OPTIMIZATION: MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 29 BUSINESS OPTIMIZATION: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 30 OTHER APPLICATIONS: MARKET, BY INDUSTRY 2018–2021 (USD MILLION)
TABLE 31 OTHER APPLICATIONS: MARKET, BY INDUSTRY 2022–2027 (USD MILLION)
TABLE 32 MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
TABLE 33 MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 34 AEROSPACE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 35 AEROSPACE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 36 AEROSPACE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 37 AEROSPACE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 38 AUTOMOTIVE & TRANSPORTATION: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 39 AUTOMOTIVE & TRANSPORTATION: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 40 AUTOMOTIVE & TRANSPORTATION: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 AUTOMOTIVE & TRANSPORTATION: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 42 INFRASTRUCTURE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 43 INFRASTRUCTURE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 44 INFRASTRUCTURE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 45 INFRASTRUCTURE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 46 HEALTHCARE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 47 HEALTHCARE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 48 HEALTHCARE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 49 HEALTHCARE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 50 ENERGY & UTILITIES: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 51 ENERGY & UTILITIES: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 52 ENERGY & UTILITIES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 53 ENERGY & UTILITIES: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 54 OIL & GAS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 55 OIL & GAS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 56 OIL & GAS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 OIL & GAS: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 58 AGRICULTURE: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 59 AGRICULTURE: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 60 AGRICULTURE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 61 AGRICULTURE: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 62 TELECOMMUNICATIONS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 63 TELECOMMUNICATIONS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 64 TELECOMMUNICATIONS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 TELECOMMUNICATIONS: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 66 RETAIL: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 67 RETAIL: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 68 RETAIL: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 69 RETAIL: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 70 OTHER APPLICATIONS: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 71 OTHER APPLICATIONS: MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 72 OTHER APPLICATIONS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 73 OTHER APPLICATIONS: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 74 MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 75 MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 76 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 77 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 78 NORTH AMERICA: MARKET, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 79 NORTH AMERICA: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 80 NORTH AMERICA: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 81 NORTH AMERICA: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 82 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 83 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 84 EUROPE: MARKET, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 85 EUROPE: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 86 EUROPE: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 87 EUROPE: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 88 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 89 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 90 ASIA PACIFIC: MARKET SIZE, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 91 ASIA PACIFIC: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 92 ASIA PACIFIC: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 93 ASIA PACIFIC: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 94 REST OF THE WORLD: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 95 REST OF THE WORLD: MARKET, BY REGION, 2022–2027 (USD MILLION)
TABLE 96 REST OF THE WORLD: MARKET, BY INDUSTRY, 2018-2021 (USD MILLION)
TABLE 97 REST OF THE WORLD: MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
TABLE 98 REST OF THE WORLD: MARKET, BY ENTERPRISE, 2018–2021 (USD MILLION)
TABLE 99 REST OF THE WORLD: MARKET, BY ENTERPRISE, 2022–2027 (USD MILLION)
TABLE 100 MIDDLE EAST: MARKET SIZE, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 101 MIDDLE EAST: MARKET SIZE, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 102 OVERVIEW OF STRATEGIES DEPLOYED BY DIGITAL TWIN COMPANIES
TABLE 103 DEGREE OF COMPETITION, MARKET (2021)
TABLE 104 COMPANY FOOTPRINT
TABLE 105 COMPANY INDUSTRY FOOTPRINT (25 COMPANIES)
TABLE 106 COMPANY ENTERPRISE FOOTPRINT (25 COMPANIES)
TABLE 107 COMPANY REGION FOOTPRINT (25 COMPANIES)
TABLE 108 MARKET: DETAILED LIST OF KEY STARTUP/SMES
TABLE 109 MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 110 PRODUCT LAUNCHES, JANUARY–MAY 2022
TABLE 111 DEALS, JANUARY 2022–MAY 2022
TABLE 112 EXPANSIONS, APRIL 2022
TABLE 113 GENERAL ELECTRIC: BUSINESS OVERVIEW
TABLE 114 MICROSOFT: BUSINESS OVERVIEW
TABLE 115 SIEMENS: BUSINESS OVERVIEW
TABLE 116 AMAZON: BUSINESS OVERVIEW
TABLE 117 DASSAULT SYSTÈMES: BUSINESS OVERVIEW
TABLE 118 ANSYS: BUSINESS OVERVIEW
TABLE 119 IBM: BUSINESS OVERVIEW
TABLE 120 PTC: BUSINESS OVERVIEW
TABLE 121 SAP: BUSINESS OVERVIEW
TABLE 122 ORACLE: BUSINESS OVERVIEW
TABLE 123 ROBERT BOSCH: BUSINESS OVERVIEW
TABLE 124 IOT SENSORS MARKET, BY NETWORK TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 125 IOT SENSORS MARKET, BY NETWORK TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 126 IOT SENSORS MARKET FOR WIRED TECHNOLOGY, BY TYPE, 2017–2020 (USD MILLION)
TABLE 127 IOT SENSORS MARKET FOR WIRED TECHNOLOGY, BY TYPE, 2021–2026 (USD MILLION)
TABLE 128 IOT SENSORS MARKET FOR WIRELESS TECHNOLOGY, BY TYPE, 2017–2020 (USD MILLION)
TABLE 129 IOT SENSORS MARKET FOR WIRELESS TECHNOLOGY, BY TYPE, 2021–2026 (USD MILLION)
LIST OF FIGURES (68 FIGURES)
FIGURE 1 DIGITAL TWIN MARKET: SEGMENTATION
FIGURE 2 MARKET, BY REGION
FIGURE 3 MARKET: RESEARCH DESIGN
FIGURE 4 MARKET: RESEARCH APPROACH
FIGURE 5 BOTTOM-UP APPROACH
FIGURE 6 TOP-DOWN APPROACH
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE) — REVENUE GENERATED BY COMPANIES IN MARKET
FIGURE 8 MARKET: DATA TRIANGULATION
FIGURE 9 MARKET: REALISTIC, PESSIMISTIC, AND OPTIMISTIC RECOVERY SCENARIOS
FIGURE 10 PREDICTIVE MAINTENANCE SEGMENT TO HOLD LARGEST SHARE OF MARKET, BY APPLICATION, DURING FORECAST PERIOD
FIGURE 11 SMALL & MEDIUM ENTERPRISE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 12 HEALTHCARE INDUSTRY TO REGISTER HIGHEST CAGR IN MARKET FROM 2022 TO 2027
FIGURE 13 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF MARKET IN 2021
FIGURE 14 RISING EMPHASIS ON DIGITAL TWIN IN MANUFACTURING TO FUEL MARKET GROWTH
FIGURE 15 PREDICTIVE MAINTENANCE APPLICATION TO HOLD LARGEST SHARE OF MARKET DURING FORECAST PERIOD
FIGURE 16 AUTOMOTIVE & TRANSPORTATION INDUSTRY AND US TO ACCOUNT FOR LARGEST SHARES OF NORTH AMERICA MARKET IN 2022
FIGURE 17 HEALTHCARE INDUSTRY TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 18 US TO DOMINATE GLOBAL MARKET DURING FORECAST PERIOD
FIGURE 19 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 20 IMPACT OF DRIVERS ON MARKET
FIGURE 21 IMPACT OF RESTRAINTS ON MARKET
FIGURE 22 IMPACT OF OPPORTUNITIES ON MARKET
FIGURE 23 IMPACT OF CHALLENGES ON MARKET
FIGURE 24 VALUE CHAIN ANALYSIS: MARKET
FIGURE 25 DIGITAL TWIN ECOSYSTEM
FIGURE 26 AVERAGE SELLING PRICES OF PRODUCTS/SOLUTIONS, BY TOP THREE REGION (KEY PLAYERS)
FIGURE 27 MARKET: DIGITAL TWIN SOLUTION BUDGET TREND
FIGURE 28 REVENUE SHIFT IN MARKET
FIGURE 29 DIGITAL TWIN AND RELATED TECHNOLOGIES
FIGURE 30 PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE INDUSTRIES
FIGURE 32 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
FIGURE 33 IMPORT DATA FOR HS CODE 851769 FOR TOP COUNTRIES, 2017–2021 (USD MILLION)
FIGURE 34 EXPORT DATA FOR HS CODE 851769 FOR TOP COUNTRIES, 2017–2021 (USD MILLION)
FIGURE 35 DIGITAL TWIN PATENTS FROM 2012 TO 2021
FIGURE 36 TOP 10 COMPANIES WITH LARGEST NUMBER OF PATENT APPLICATIONS FOR DIGITAL TWINS, 2012–2021
FIGURE 37 VARIOUS STANDARDS & REGULATIONS FOR DIGITAL TWIN
FIGURE 38 MARKET, BY USAGE TYPE
FIGURE 39 MARKET, BY ENTERPRISE
FIGURE 40 MARKET FOR SMALL & MEDIUM ENTERPRISES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
FIGURE 41 MARKET, BY APPLICATION
FIGURE 42 PREDICTIVE MAINTENANCE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING FORECAST PERIOD
FIGURE 43 MARKET, BY INDUSTRY
FIGURE 44 HEALTHCARE SEGMENT EXPECTED TO GROW AT HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
FIGURE 45 PREDICTIVE MAINTENANCE APPLICATION TO ACCOUNT FOR LARGEST SHARE OF MARKET FOR HEALTHCARE DURING FORECAST PERIOD
FIGURE 46 MARKET IN CHINA TO REGISTER HIGHEST CAGR FROM 2022 TO 2027
FIGURE 47 NORTH AMERICA TO DOMINATE MARKET DURING FORECAST PERIOD
FIGURE 48 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 49 EUROPE: MARKET SNAPSHOT
FIGURE 50 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 51 REST OF THE WORLD: MARKET SNAPSHOT
FIGURE 52 MARKET: COMPANY EVALUATION QUADRANT, 2021
FIGURE 53 MARKET: COMPANY EVALUATION QUADRANT, 2021
FIGURE 54 MARKET, STARTUPS/SME EVALUATION QUADRANT, 2021
FIGURE 55 GENERAL ELECTRIC: COMPANY SNAPSHOT
FIGURE 56 MICROSOFT: COMPANY SNAPSHOT
FIGURE 57 SIEMENS: COMPANY SNAPSHOT
FIGURE 58 AMAZON: COMPANY SNAPSHOT
FIGURE 59 DASSAULT SYSTÈMES: COMPANY SNAPSHOT
FIGURE 60 ANSYS: COMPANY SNAPSHOT
FIGURE 61 IBM: COMPANY SNAPSHOT
FIGURE 62 PTC: COMPANY SNAPSHOT
FIGURE 63 SAP: COMPANY SNAPSHOT
FIGURE 64 ORACLE: COMPANY SNAPSHOT
FIGURE 65 ROBERT BOSCH: COMPANY SNAPSHOT
FIGURE 66 SNAPSHOT OF KEY NETWORK TECHNOLOGIES IN IOT SENSORS MARKET
FIGURE 67 WIRELESS NETWORK TECHNOLOGY SEGMENT TO LEAD IOT SENSORS MARKET FROM 2021 TO 2026
FIGURE 68 ETHERNET SEGMENT TO HOLD LARGEST SIZE OF IOT SENSORS MARKET FOR WIRED TECHNOLOGY FROM 2021 TO 2026
The research process for this study included the systematic gathering, recording, and analysis of data about customers and companies operating in the digital twin market. This research study involved the extensive use of secondary sources, directories, and databases (Factiva, Oanda, and OneSource) for identifying and collecting information useful for the engineering of the market. In-depth interviews have been conducted with various primary respondents, including experts from core and related industries and preferred manufacturers, to obtain and verify critical qualitative and quantitative information, as well as to assess growth prospects. They have been interviewed to understand the impact of COVID-19 on the digital twin ecosystem. Key players in the digital twin market have been identified through secondary research, and their market rankings have been determined through primary and secondary research. This research included studying annual reports of top players and interviewing key industry experts, such as CEOs, directors, and marketing executives.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study on the digital twin market. The secondary sources include annual reports, press releases, and investor presentations of companies; white papers, certified publications, and articles by recognized authors; and directories and databases. Secondary research has been conducted to gather key information regarding the value chain of the digital twins market, the number of key players, market classification and segmentation according to industry trends to the bottom-most level, geographic markets, and key developments from market- and technology-oriented perspectives.
After the complete market engineering process (which included calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research has been conducted to gather information and verify and validate the critical numbers obtained.
Primary research has been conducted to identify segmentation types, industry trends, and key players in the market, as well as to analyze the competitive landscape, key market dynamics such as drivers, restraints, challenges, and opportunities, and key strategies adopted by the market players. In the complete market engineering process, both top-down and bottom-up approaches have been extensively used, along with several data triangulation methods, to estimate and forecast the sizes of the market and its segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been conducted on the complete market engineering process to list the key information/insights. The data gathered through secondary research has been also verified and validated through primary interviews. The figure below illustrates the way primary and secondary research has been conducted for gathering and analyzing the data collected for the digital twin market.
Primary Research
Extensive primary research has been conducted after obtaining information about the digital twin market through secondary research. Several primary interviews have been conducted with market experts from the demand and supply sides across four major regions—the Americas, Europe, Asia Pacific, and Rest of the World. Approximately 60% and 40% of the primary interviews have been conducted with parties from the demand and supply sides, respectively. This primary data has been collected through questionnaires, e-mails, and telephonic interviews.
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Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches have been used, along with several data triangulation methods, to estimate and forecast the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses have been carried out on the complete market engineering process to list the key information/insights pertaining to the digital twin market.
The key players in the market have been identified through secondary research, and their rankings in the respective regions have been determined through primary and secondary research. This entire procedure involved the study of the annual and financial reports of top players, as well as interviews with industry experts such as chief executive officers, vice presidents, directors, and marketing executives for both quantitative and qualitative key insights. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Digital Twin Market: Top-Down Approach
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Market Breakdown and Data Triangulation
After arriving at the overall size of the digital twin market from the estimation process explained above, the total market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying numerous factors and trends from the demand and supply sides. Along with this, the market size has been validated using both the top-down and bottom-up approaches.
Report Objectives
- To define, describe, and forecast the digital twin market size, by industry, application, and enterprise, in terms of value
- To describe and forecast the size of the digital twins market across four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World, along with their respective country-level market sizes, in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the market growth
- To provide a detailed overview of the process flow of the digital twins market
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market size
- To study the complete value chain of the digital twins market
- To provide a detailed analysis of the impact of the COVID-19 crisis on the digital twin market, its segments, and market players
- To analyze opportunities for stakeholders by identifying high-growth segments of the market
- To strategically profile the key players and comprehensively analyze their market positions in terms of their ranking and core competencies2
- To analyze competitive developments, such as product launches, deals (mergers, acquisitions, partnerships, cooperation, alliances, collaborations, agreements, contracts, and investments), and others (expansions) in the market
- Micromarkets are defined as the further segments and subsegments of the market included in the report.
- Core competencies of companies are captured in terms of their key developments and strategies adopted by them to sustain their position in the market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of 25 market players
Generating Response ...
Growth opportunities and latent adjacency in Digital Twin Market
Understanding the potential of digital twins for creative industries and the environmental movement.