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Worldwide Digital Twin Industry to 2026 - Growing Adoption of Industry 4.0 and IIoT for Design and Manufacturing Presents Opportunities

·8-min read

Dublin, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The "Digital Twin Market Research Report by Type, Industry, Application, and Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.

The Global Digital Twin Market size was estimated at USD 5,556.36 million in 2020, is expected to reach USD 7,209.30 million in 2021, and projected to grow at a CAGR of 30.08% reaching USD 26,927.26 million by 2026.

Market Statistics

The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2018 and 2019 are considered historical years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2026 are considered the forecast period.

Market Segmentation & Coverage

This research report categorizes the Digital Twin to forecast the revenues and analyze the trends in each of the following sub-markets:

  • Based on Type, the market was studied across Process Digital Twin, Product Digital Twin, and System Digital Twin.

  • Based on Industry, the market was studied across Aerospace & Defense, Agriculture, Automotive & Transportation, Energy & Utilities, Healthcare & Life Sciences, Manufacturing, Oil & Gas, Residential & Commercial, and Retails & Consumer Good.

  • Based on Application, the market was studied across Machine & Equipment Health Monitoring, Process Support & Service, and Product Design & Development.

  • Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. The Europe, Middle East & Africa is further studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.

Competitive Strategic Window

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Digital Twin Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

Competitive Scenario

The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The competitive scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected help vendor to understand the gaps in the marketplace and competitor's strength and weakness thereby, providing insights to enhance product and service.

Company Usability Profiles

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Digital Twin Market, including ABB, ANSYS Inc., Dassault Systemes, General Electric Company, Honeywell International Inc, IBM Corporation, Microsoft Corporation, Oracle Corporation, PTC Inc., Robert Bosch GmbH, SAP SE, Schneider Electric SE, Siemens AG, Swim.ai, Inc., and Wipro Limited.

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Global Digital Twin Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Digital Twin Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Digital Twin Market?
4. What is the competitive strategic window for opportunities in the Global Digital Twin Market?
5. What are the technology trends and regulatory frameworks in the Global Digital Twin Market?
6. What is the market share of the leading vendors in the Global Digital Twin Market?
7. What modes and strategic moves are considered suitable for entering the Global Digital Twin Market?

Key Topics Covered:

1. Preface

2. Research Methodology

3. Executive Summary

4. Market Overview
4.1. Introduction
4.2. Cumulative Impact of COVID-19

5. Market Dynamics
5.1. Introduction
5.2. Drivers
5.2.1. Decreasing time and cost of product development and unplanned downtime with the adoption of digital twin
5.2.2. Adoption of emerging technologies such as IoT and cloud
5.2.3. Growing use of digital twin for predictive maintenance
5.3. Restraints
5.3.1. Data security issues due to the use of IoT and cloud platforms
5.4. Opportunities
5.4.1. Optimistic growth across industries such as healthcare, aerospace, and automotive
5.4.2. Growing adoption of industry 4.0 and IIoT for design and manufacturing
5.4.3. Innovations in the field of virtual reality (VR) and augmented reality (AR)
5.5. Challenges
5.5.1. Limited awareness regarding the cost benefits of digital twin adoption
5.5.2. Dearth of skilled workforce and technical knowledge

6. Digital Twin Market, by Type
6.1. Introduction
6.2. Process Digital Twin
6.3. Product Digital Twin
6.4. System Digital Twin

7. Digital Twin Market, by Industry
7.1. Introduction
7.2. Aerospace & Defense
7.3. Agriculture
7.4. Automotive & Transportation
7.5. Energy & Utilities
7.6. Healthcare & Life Sciences
7.7. Manufacturing
7.8. Oil & Gas
7.9. Residential & Commercial
7.10. Retails & Consumer Good

8. Digital Twin Market, by Application
8.1. Introduction
8.2. Machine & Equipment Health Monitoring
8.3. Process Support & Service
8.4. Product Design & Development

9. Americas Digital Twin Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Digital Twin Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand

11. Europe, Middle East & Africa Digital Twin Market
11.1. Introduction
11.2. France
11.3. Germany
11.4. Italy
11.5. Netherlands
11.6. Qatar
11.7. Russia
11.8. Saudi Arabia
11.9. South Africa
11.10. Spain
11.11. United Arab Emirates
11.12. United Kingdom

12. Competitive Landscape
12.1. FPNV Positioning Matrix
12.1.1. Quadrants
12.1.2. Business Strategy
12.1.3. Product Satisfaction
12.2. Market Ranking Analysis
12.3. Market Share Analysis, by Key Player
12.4. Competitive Scenario
12.4.1. Merger & Acquisition
12.4.2. Agreement, Collaboration, & Partnership
12.4.3. New Product Launch & Enhancement
12.4.4. Investment & Funding
12.4.5. Award, Recognition, & Expansion

13. Company Usability Profiles
13.1. ABB
13.2. ANSYS Inc.
13.3. Dassault Systemes
13.4. General Electric Company
13.5. Honeywell International Inc.
13.6. IBM Corporation
13.7. Microsoft Corporation
13.8. Oracle Corporation
13.9. PTC Inc.
13.10. Robert Bosch GmbH
13.11. SAP SE
13.12. Schneider Electric SE
13.13. Siemens AG
13.14. Swim.ai, Inc.
13.15. Wipro Limited

14. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/6nt8vy

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