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$5+ Billion Worldwide Digital Twin Industry to 2026 - Key Drivers and Restraints

·5-min read

Dublin, Jan. 06, 2022 (GLOBE NEWSWIRE) -- The "Global Digital Twin Market, By Type (Process, Product, System), By Technology (IoT, Artificial Intelligence and Machine Learning, Blockchain, Big Data Analytics, Extended Reality, 5G), By Application, By End User, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.

The Global Digital Twin Market stood at USD5.715 billion in 2020 and is projected to grow with a CAGR of 33.28% during the forecast period, 2022-2026.

The manufacturing industry is considered one of the major revenues generating industries around the globe. Increasing awareness about the benefits of using automation technology and integrating novel technologies like cloud computing and analytics, machine learning, artificial intelligence, blockchain in the production process to amplify the production volume is fueling the adoption of digital twin technology in the manufacturing industry.

Robotics, advanced sensors and the use of embedded software aiming at the collection of real-time data to allow analyzing and monitoring of data to make smart decisions during the production process are proliferating the adoption of digital twin technology in the manufacturing industries. Advancements in the field of Virtual Reality (VR) and Augmented Reality (AR), and the rise in the adoption of digital twin technology in the supply chain management is expected to boost the demand of the Global Digital Twin Market. However, less awareness about the cost benefits of adopting digital twin technology and lower availability of skilled workforce may restrain the Global Digital Twin Market growth in the next five years.

The Global Digital Twin Market can be segmented based on type, technology, application, end-user, and region. On the basis of regional analysis, the Asia-pacific region is expected to witness the fastest incremental growth in the next five years. High internet penetration and the increase of advanced consumer electronic devices in the region are fueling the demand for the implementation of advanced technologies to boost the sales of the product. Favorable government policies of developing countries like India aiming to strengthen the ICT infrastructure and undertaking initiatives to accelerate digital transformation and construction of smart cities is expected to create significant growth opportunities for the digital twin market in the region. The development of the digital healthcare system to magnify the living standards and offer quality healthcare services are bolstering the adoption of the digital twin technology in the healthcare sector.

Dassault Systems Inc, PTC Inc, Siemens AG, General Electric Company, Aveva Inc., Oracle Corporation, Microsoft Corporation, IBM Corporation, Honeywell International Inc. ABB Group, Rockwell Automation, Swim.ai, Inc., Bentley Systems, Incorporated, Bosch Rexroth AG are the major players operating in the Global Digital Twin Market.

Objective of the Study:

  • To analyze the historical growth in the market size of the Global Digital Twin Market from 2016 to 2020.

  • To estimate and forecast the market size of the Global Digital Twin Market from 2021 to 2026 and growth rate until 2026.

  • To classify and forecast the Global Digital Twin Market based on type, technology, application, end-user, company, and regional distribution.

  • To identify the dominant region or segment in the Global Digital Twin Market.

  • To identify drivers and challenges for the Global Digital Twin Market.

  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Digital Twin Market.

  • To identify and analyze the profiles of leading players operating in the Global Digital Twin Market.

  • To identify key sustainable strategies adopted by market players in the Global Digital Twin Market.


Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Digital Twin Market

4. Executive Summary

5. Voice of Customer
5.1. Digital Twin Usage Percent Share, By Type of Industrial Asset
5.2. Digital Twin Usage Percent Share, By Type of Application
5.3. Satisfaction Score - Existing Digital Twin Software
5.4. Percent Usage Share, By Type of Digital Twin Software

6. Global Digital Twin Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Process, Product, System)
6.2.2. By Technology (Internet of Things, Artificial Intelligence & Machine Learning, Blockchain, Big Data Analytics, Extended Reality, 5G)
6.2.3. By Application (Manufacturing Process Planning, Product Design, Predictive Maintenance, Others)
6.2.4. By End User (Manufacturing, Automobile and Transportation, Healthcare and Lifesciences, Energy and Utilities, Aerospace and Defense, Others)
6.2.5. By Company (2020)
6.2.6. By Region
6.3. Market Map

7. North America Digital Twin Market Outlook

8. Europe Digital Twin Market Outlook

9. Asia-Pacific Digital Twin Market Outlook

10. Middle East and Africa Digital Twin Market Outlook

11. South America Digital Twin Market Outlook

12. Market Dynamics
12.1. Drivers
12.2. Challenges

13. Market Trends and Developments

14. Competitive Landscape
14.1. Aveva Inc
14.2. Dassault Systems Inc
14.3. PTC Inc
14.4. Siemens AG
14.5. General Electric Company
14.6. Oracle Corporation
14.7. Microsoft Corporation
14.8. IBM Corporation
14.9. Schneider Electric
14.10. Honeywell International Inc.
14.11. ABB Group
14.12. Rockwell Automation
14.13. Swim.ai, Inc.
14.14. Bentley Systems, Incorporated
14.15. Bosch Rexroth AG

15. Strategic Recommendations

16. About the Publisher & Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/uehoso

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