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The digital twin in finance market size is projected to grow from USD 0.1 billion in 2023 to USD 0.5 billion by 2028, at a CAGR of 34.8% during the forecast period. The growing adoption of industry 4.0 and need to test new market scenarios in real time to reduce risks will drive the growth of digital twin in financial market. In the banking sector, Industry 4.0 technologies have unlocked new dimensions. With Industry 4.0, new banking services and opportunities can be launched to improve business performance and end customer experiences.

Major Digital Twin in Finance Companies Include

• IBM (US)
• Microsoft (US)
• Capgemini (France)
• SAP (Germany)
• Ansys (US)

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

IBM (US)

IBM provide Maximo application suite that is a single, integrated cloud-based platform that uses AI, IoT and analytics to optimize performance, extend asset lifecycles, and reduce operational downtime and costs. It provides features such as asset management, predictive maintenance, and control of complex environments. In April 2023, IBM integrated with CosmoTech. The combination of IBM Maximo Application Suite and Cosmo Tech Asset represents enormous added value for asset managers. The Cosmo Tech platform connects to asset information from the IBM Maximo Application Suite. Through this integration, asset managers can simulate the complete physical and financial life cycle of their asset network, even under conditions that have never occurred before.

Microsoft (US)

Another important player in digital twin in finance market is Microsoft. Microsoft offers Azure Digital Twins platform that allows users to create knowledge graphs based on digital models of entire environments. Buildings, industries, farms, energy networks, railways, stadiums, and more—even entire cities—could be among these environments. In July 2022, Microsoft and Cosmo Tech collaborated to merge their digital twin platforms to deliver practical insights for organizations to achieve net-zero carbon emissions. This partnership brings together Microsoft Azure Digital Twins and the 360° Simulation Digital Twin platform from Cosmo Tech. By integrating these platforms, the enterprise customers of Microsoft Azure can track emissions from their systems almost instantly and model future outcomes of various asustainability initiatives.

Capgemini (France): Capgemini SE, founded in 1967 by Serge Kampf, is a multinational corporation headquartered in Paris, France. It specializes in consulting, technology services, and digital transformation. Capgemini operates in over 50 countries and employs approximately 300,000 people. The company provides services across various sectors, including automotive, banking, healthcare, and telecommunications. Aiman Ezzat serves as CEO, leading the company to annual revenues of around €18 billion and a market capitalization of approximately €25 billion.

SAP (Germany): SAP SE, founded in 1972 by five former IBM employees, is headquartered in Walldorf, Germany. SAP is one of the world’s largest enterprise software companies, known for its ERP (Enterprise Resource Planning) software. The company's flagship product, SAP S/4HANA, helps businesses manage operations and customer relations. SAP also offers cloud solutions and analytics. Under the leadership of CEO Christian Klein, SAP generates annual revenues of over €30 billion and has a market capitalization exceeding €150 billion. The company employs over 100,000 people globally.

Ansys (US): Ansys, Inc., founded in 1970 by John Swanson, is headquartered in Canonsburg, Pennsylvania. Ansys is a global leader in engineering simulation software, providing solutions for a wide range of industries, including aerospace, automotive, manufacturing, and healthcare. The company's software allows engineers to simulate and test the physical performance of products in a virtual environment. Ajei Gopal is the CEO, guiding the company to annual revenues of approximately $2 billion and a market capitalization of over $25 billion. Ansys employs around 5,000 people worldwide.

Related Reports:

Digital Twin in Finance Market by Offering (Platforms & Solutions and Services), End-use Industry (BFSI (Banking, Financial Services, and Insurance), Manufacturing, Transportation & Logistics, Healthcare), Application and Region - Global Forecast to 2028

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