The global digital twin market size is expected to reach USD 106.26 Billion at a steady CAGR of 54.7% in 2028, according to latest analysis by Emergen Research. Steady digital twin market revenue growth can be attributed to growing adoption of IoT in industries and increasing use of digital twin technology for monitoring, tracking, and controlling industrial systems.
Digital twin technology provides real-time production and asset visibility to identify obstructions to streamline flow of operations and enhance product development. The technology is witnessing high demand due to increasing acceptance of Industry 4.0 as use of digital twins to delivers a complete insight about equipment health, thereby enabling companies to instantly recognize anomalies in operations flow. Also, deploying digital twin helps in proactive planning of maintenance and spare part replacement to reduce time-to-service and prevent cost-prohibitive asset failures.
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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the DIGITAL TWIN Market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the DIGITAL TWIN Market landscape.
Emergen Research has segmented the global digital twin market on the basis of type, technology, application, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Process Digital Twin
Product Digital Twin
System digital Twin
Technology Outlook (Revenue, USD Billion; 2018–2028)
Internet of Things
Artificial Intelligence & Machine Learning
Blockchain
Big Data Analytics
Virtual Reality, Augmented Reality, and Mixed Reality
5G
Application Outlook (Revenue, USD Billion; 2018–2028)
Automotive
Healthcare
Aerospace & Defense
Retail
Energy & Utilities
Telecommunication
Agriculture
Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
Key players in the market include
Microsoft Corporation, Oracle Corporation, IBM Corporation, PTC Inc., Ansys Inc., General Electric Company, SAP SE, Siemens AG, Hexagon AB, and Aveva Group PLC.
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Market Taxonomy:
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2:
Executive Summary
Business trends
Regional trends
Product trends
End-use trends
Chapter 3:
Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
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