Global Digital Twin Market Research Report Forecast to 2025

Published - Jun 2019 | Category - Electronics & Semiconductor | No. of Pages - 115 | Published By - Market Research Future

Global Digital Twin Market Is Expected To Reach USD 35462.4 Million With Exponential CAGR Of 38.89% During The Forecast Till 2025

A digital twin is a digital replica of physical assets (product, system, process, or place) that act as its virtual equivalent throughout its development lifespan. This replica is a dynamic software model that uses data acquisition tools such as sensors to monitor the asset and collect data related to the operating parameters. A digital twin can be a weak correlation of the physical asset or almost exact design time and runtime clone depending upon the underlying technology. Rising adoption of 3D printing and 3D simulation software, increasing awareness about advanced data analytics across industries, and the emergence of digitization in manufacturing are expected to drive the digital twin market during the forecast period. However, the risk of security breaches is expected to restrain the market during the forecast period.

In 2017, North America dominated the global market with the regional share valued at USD 691.2 million; it is expected to register a CAGR of 42.77% during the forecast period. However, the market in Asia-Pacific is expected to be the fastest-growing at the highest CAGR of 45.19% during the review period. The global digital twin market has been segmented on the basis of end-use application, type, and region. By end-use application, the market has been segmented into aerospace & defense, automotive & transportation, electronics & electrical/machine manufacturing, healthcare, retail, energy & utilities, home & commercial, and others. Based on type, the market has been segmented into parts twin, product twin, process twin, and system twin.

Global Digital Twin Market Key Players 

IBM Corporation (US)
Accenture PLC (Ireland)
Microsoft Corporation (US)
Oracle Corporation (US)
Dassault Systèmes SE (France)
Cisco Systems, Inc. (US)
SAP SE (Germany)
General Electric (US)
Siemens AG (Germany)
ANSYS Inc (US)
PTC Inc. (US)
Others


 

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