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Digital Twin Market Size Worth USD 106.26 Billion in 2028, Market Trends – Increasing demand for big data analytics

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Digital Twin Market Size Worth USD 106.26 Billion in 2028, Market Trends – Increasing demand for big data analytics

May 04
15:26 2021
The global digital twin market size is expected to reach USD 106.26 Billion in 2028, and register a CAGR of 54.7% during the forecast period

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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Digital Twin market Solution Insight:

In the automotive sector, digital twin finds application in creating a connected vehicle’s virtual model by capturing the vehicle’s operational and behavioral data and aids in analyzing the complete performance of vehicle, along with connected capabilities. Also, digital twin in automotive helps in providing customized/personalized customer services.

Digital twin market in North America contributed largest revenue share to the global market in 2020, attributed to high adoption of advanced technologies, rising adoption of industry 4.0 in the manufacturing sector, and increasing demand for IoT in healthcare and automotive sectors. Additionally, robust presence of leading providers of digital twin technology in the region is causative of steady market growth.

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.

 Key Questions Answered in the Report:

  • What will be the estimated growth rate of the Digital Twin market by 2028?
  • Who are the prominent distributors, vendors, and manufacturers of the market?
  • What are the driving and restraining factors of the growth of the Digital Twin market throughout the forecast period?
  • What are the current and future market trends of the Digital Twin market?
  • What are the sales and price analysis of the product by types, applications, and regions?
  • What are the expected opportunities for the companies and new entrants in the coming years?

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/digital-twin-market

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 Analysis Covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Digital Twin industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

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Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020-2028

Chapter 3. Key Insights

Chapter 4. Digital Twin Market Segmentation & Impact Analysis

    4.1. Digital Twin Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers’ analysis

                    4.2.2.1. Growing adoption of IoT

                    4.2.2.2. Rising demand for digital twin in healthcare

                    4.2.2.3. Increasing demand for big data analytics

                    4.2.2.4. Rapid adoption of industry 4.0

          4.2.3. Market restraints analysis

                    4.2.3.1. Concern about data security

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Digital Twin Market By Type Insights & Trends, Revenue (USD Billion)

    5.1. Type Dynamics & Market Share, 2021 & 2028

          5.1.1. Process Digital Twin

          5.1.2. Product Digital Twin

          5.1.3. System digital Twin

Chapter 6. Digital Twin Market By Technology Insights & Trends, Revenue (USD Billion)

    6.1. Technology Dynamics & Market Share, 2021 & 2028

          6.1.1. Internet of Things

          6.1.2. Artificial Intelligence & Machine Learning

          6.1.3. Blockchain

          6.1.4. Big Data Analytics

          6.1.5. Virtual Reality, Augmented Reality, and Mixed Reality

          6.1.6. 5G

CONTINUE…!

Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements. 

Media Contact
Company Name: Emergen Research
Contact Person: Eric Lee
Email: Send Email
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City: Surrey
State: British Columbia
Country: Canada
Website: https://www.emergenresearch.com/industry-report/digital-twin-market

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