Global Digital Twin Market, By Type (System Twin, Parts Twin, Process Twin, and Product Twin), By Deployment (On-Premises & Cloud Based) By Application (Product Design & Development, Inventory Management, Manufacturing Process & Planning, Others), End-Users (Aerospace & Defense, Automotive, Electronics & Electrical/machine Manufacturing, Transportation, Energy and Utilities, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Size and Forecast 2015-2025

March 2019
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global digital twin market 1987


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Global Digital Twin Market: Overview

Digital Twin Technology is among the top 10 strategic technology trends named by Gartner Inc. in 2017 where the virtual counterparts of the physical assets are created as digitalized duplicates of machines/ equipment or physical sites using sensors. To create a digital twin model the data get collected from various sources including physical data, manufacturing data, operational data and insights from analytics software and get integrated with AI algorithms is into a physics-based virtual model by applying Analytics to the model. 

Such digital duplicates can imitate real-world situations and help in optimizing systems and processes, examining products, and monitoring the performance and condition of machines. Development of IOT technology and the enhancement in artificial intelligence is majorly boosting the growth of digital twin market in upcoming period. Digital Twin market is growing owing to the increase in usage of industrial internet of things, digitization of records, optimized products, abolishment of obsolete technology, and introduction of smart technology.

It is one such technology which is changing the industry dynamics thus widely used for reducing operational loss, designing and repairing of airplanes and turbines, controlling supply chain loss in a manufacturing plant, and others. In addition, the innovation in the area of virtual and augmented reality will further help the market to grow at a substantial rate during the forecast period. Digital twins are the core of the fourth industrial revolution or Industry 4.0 which embraces automation, data exchange and manufacturing technologies, Bringing in unlimited possibilities.

Global Digital Twin Application Analysis

Based on the application, the global market is segregated into Product Design & Development, Inventory Management, Manufacturing Process & Planning, Others. Product design & development is the dominant segment in terms of application where digital twin can be seen as the key enabler to exchange information across organizations which includes the selected operational and maintenance information about an asset, can be managed within the digital twin and exchanged with external parties in an appropriate way.

Particularly the process data and models provided in a digital twin, as well as the real-time simulation results, help to predict the need and improve the design for the next generations. Predictive analytics help manufacturers to confidently calculate future challenges where the digital twin approach allows continuous improvement of the asset type designs, based on real data. The digital twin reduces the time for the basic engineering and commissioning of a field device from some 10 to fractions of a second.

Global Digital Twin Regional Analysis

Based on the region, the global digital twin market is segregated into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for the largest share and is expected to continue the dominance in upcoming years. The rising factors include the increasing adoption of IoT in a single smart interface of smartphones, PCs, and tablets.

Also, rising cybercrimes is another factor expected to grow demand for integrated IoT security solutions for application in various sectors such as government, defense, and healthcare. However, APAC is the fastest growing region due to the numerous initiatives to encourage the implementation of IoT in this region. Moreover, due to the dense population and the growing per capita income of this region, along with the large-scale industrialization and urbanization, APAC is expected to have a huge market potential over the forecast period.

Global Digital Twin Market: Competitive Landscape

Major players operating in the global digital twin market include General Electric, IBM Corporation, PTC, Inc., Siemens AG, SAP SE, Microsoft Corporation, Alphabet Inc., Dell, Oracle Corporation, Robert Bosch GmbH, Alphabet Inc., Bosch Software Innovations GmbH, Cisco Systems, Inc., CSC, Schnitger Corporation, AT&T, and Tibco Software Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures with the aim to boost the inorganic growth of the industry.

Objective of the Study:

·         To analyze and forecast market size of the global digital twin market, in terms Value.

·         To examine the careful market segmentation and forecast the market size, on the basis of region, segmented into 5 regions, namely, North America, Europe, Asia Pacific, MEA, & LATAM and major countries in the respective regions

·         To outline, categorized and forecast the global digital twin market on the basis of type, deployment, and application and industry verticals.

·         To examine competitive developments like expansions, technological advancement, new product launches, and regulative framework within the global digital twin market.

·         To identify the drivers and challenges for global digital twin market.

·         To spot the profile of leading players and an array of strategy outlook and SWOT analysis of major industry players.

Scope of the Report

By Type

·         System Twin

·         Parts Twin

·         Process Twin

·         Product Twin

By Deployment

·         On-Premises

·         Cloud based

By Application

·         Product Design & Development

·         Manufacturing Process & Planning

·         Inventory Management

·         Others

By Industry verticals

·         Aerospace & Defense

·         Automotive

·         Manufacturing

·         Transportation

·         Energy & Utilities

·         Others

In addition, the report provides analysis of the digital twin market with respect to the following geographic segments:

·         North America

·         Latin America

·         Asia Pacific (APAC)

·         Europe

·         Middle East

·         Africa

Customization Scope for the Client

Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

·         With three additional company detail analysis.

·         Additional country analysis.

·         Detailed segment analysis.


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