Europe Digital Twin Market

The digital twin market in Europe is projected to grow from USD 7.08 billion in 2025 to USD 49.32 billion in 2030, recording a CAGR of 47.4% during the forecast period. The market is projected to grow significantly during the forecast period, supported by strong digital transformation initiatives across the region. The increasing adoption of advanced simulation, data analytics, and lifecycle management technologies is driving demand for digital twin solutions in Europe across various sectors, including manufacturing, healthcare, automotive, energy, and infrastructure. The need for improved predictive maintenance, real-time asset monitoring, and process optimization is further accelerating market expansion. European industries are also advancing their sustainability and efficiency goals, which increases the use of digital twins to optimize operations, reduce emissions, and improve resource management.

In March 2024, GE Vernova (US) launched GridBeats: EnergyAPM, a digital twin solution designed for asset performance management. It utilizes smart, physics-based digital models, along with real-time and historical data, to monitor equipment health and predict failures before they occur.

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In March 2025, Siemens (Germany) completed the acquisition of Altair Engineering, a leading industrial simulation and HPC software provider. This acquisition was specifically targeted to strengthen its digital twin capabilities, integrating Altair's simulation, AI, and HPC tools into the Siemens Xcelerator platform to offer a more comprehensive digital twin solution.

Siemens (Germany) is a global technology provider with expertise in manufacturing, infrastructure, transportation, and healthcare. The company operates through four reportable business segments: Digital Industries, Smart Infrastructure, Siemens Healthineers, and Mobility. With a focus on electrification, automation, and digitalization, Siemens helps its customers connect the physical and digital worlds, creating real value for clients. Siemens' digital twin offerings span all business segments, including Smart Infrastructure. The company continues to promote the digitalization of its switching and control products, incorporating intelligence, cloud connectivity, and remote diagnostics, among other features. Siemens' digital twins of products, building systems, and grids enable customers to perform online configuration, parametrization, operation, and maintenance planning. Siemens operates in over 200 countries, with a strong global presence and R&D centers in more than 39 countries that focus on innovation. The company has offices in the US, India, Germany, Singapore, China, Japan, South Korea, and Italy.

GE Vernova (US) is a global leader in the electric power industry. Formed as an independent company following its spin-off from General Electric on April 2, 2024, GE Vernova focuses on providing technologies and services that generate, transfer, convert, store, and manage electricity. GE Vernova operates through three core business segments: Power, Wind, and Electrification. These segments reflect the company's comprehensive approach to addressing the full electricity value chain. The Power segment covers gas turbines, steam turbines, and nuclear power solutions. The Wind segment focuses on onshore and offshore wind technologies, while the Electrification segment includes grid solutions, power conversion, and digital technologies. GE Vernova offers its digital twin software and solutions primarily under the Electrification segment, supporting asset performance management, grid optimization, and predictive maintenance using advanced analytics and machine learning.

Market Ranking

The Europe digital twin market is highly competitive, with five major companies accounting for a substantial share of the total market. Siemens (Germany) maintains a strong leadership position by offering an extensive suite of digital twin solutions through its Xcelerator platform, which integrates advanced simulation, industrial automation, and cloud-based analytics to support real-time monitoring, predictive maintenance, and virtual commissioning. ANSYS (US) has strengthened its presence with powerful physics-based simulation capabilities that enable accurate modeling and predictive maintenance across complex industrial systems. GE Vernova (US) focuses on industrial digital twins in the energy and utilities sector, supporting asset performance management and optimization of power generation processes. Dassault Systèmes (France) delivers sophisticated virtual twin experiences through its 3DEXPERIENCE platform, serving aerospace, life sciences, and manufacturing with highly detailed simulation environments. PTC (US) advances digital transformation across manufacturing and industrial sectors through its ThingWorx platform, offering real-time data integration, visualization, and remote monitoring capabilities.

Related Reports:

Europe Digital Twin Market by Application (Product Design & Development, Performance Monitoring, Predictive Maintenance, Inventory Management, Business Optimization), Industry (Automotive & Transportation, Infrastructure) - Global Forecast to 2030

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