Digital Twin Market 2022 Precise Outlook- ABB Ltd, Accenture Plc, ANSYS Inc., AVEVA Group plc (Schneider Electric)

A digital twin is a virtual model that accurately reflects a physical object, process, or service. It relies on real-time and historical data to represent the past and present and stimulate predicted failures. It assists in undertaking effective actions and transforming businesses by accelerating the holistic understanding and optimal decision-making. It also aids in reducing the risk of accidents and unplanned downtime through failure, lowering maintenance costs, and ensuring production goals are achieved. As it offers increased reliability and availability through monitoring and simulation to improve overall performance, its demand is escalating around the world.

“The global digital twin market reached a value of US$ 10.3 Billion in 2021.  The market to reach US$ 54.6 Billion by 2027, exhibiting at a CAGR of 31.7% during 2022-2027.”

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Global Digital Twin Market Size, Status, and Forecast for the 2022-2027.  In-depth research has been compiled to provide the most up-to-date information on key aspects of the worldwide market. This research report covers major aspects of the Digital Twin Market, including drivers, restraints, historical and current trends, regulatory scenarios, and technological advancements. The industry’s role on the COVID-19 outbreak was comprehensively studied. During a specific period, a full risk evaluation and industry recommendations were made for Digital Twin. This report compares the pre-COVID-19 and post-COVID-19 marketplaces. The impact of COVID-19 on the regional economy is also taken into account in the research.

The Top Major Prominent Players are:  ABB Ltd, Accenture Plc, ANSYS Inc., AVEVA Group plc (Schneider Electric), Cal-Tek Srl, Cityzenith, Dassault Systèmes, General Electric Company, International Business Machines Corporation, Microsoft Corporation, PTC Inc., SAP SE and Siemens AG

Digital Twin Market Trends:

There is presently a rise in the utilization of digital twins in the pharmaceutical industries across the globe. This represents one of the key factors propelling the growth of the market. Digital twins support effective research and design of products and provide valuable insights that help companies refine their products before starting production. They also offer greater efficiency throughout the manufacturing process and assist in determining which product materials can be opted. Consequently, they are employed in the production of aircraft prototypes worldwide. Apart from this, the growing adoption of the Internet of Things (IoT) solutions that allow engineers to test and communicate with sensors integrated with the operating products and deliver real-time prescriptive systems functioning and timely maintenance is driving the market. Additionally, there is an increase in the adoption of digital twin technology in the healthcare industry on account of the coronavirus disease (COVID-19) outbreak. This, along with the integration of 3D printing capability to lower the production and manufacturing cost through pre-testing and predictive analysis of goods, is projected to impel the market further.

REGIONAL ANALYSIS

North America (US, Canada, Mexico)

Europe (Germany, France, UK, Russia, Italy)

Asia Pacific (China, Japan, South Korea, India, Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

Middle East and Africa (Saudi Arabia, UAE), Egypt, Nigeria, and South Korea)

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Strategic points covered in the Digital Twin market catalogue:

Introduction, market driving force product research goals and research scope Global Digital Twin market (2022-2027).

Exclusive Summary – Basic information on the global Digital Twin market.

The changing impact on market dynamics – global party supplies driving factors, trends, challenges and opportunities; post-COVID analysis.

Introduction Global Digital Twin market factors, after COVID impact analysis, Porter’s five force, the supply / value chain, PESTEL analysis, market entropy, patent / trademark analysis.

Show 2017-2022 by type, end user and region/country.

Assess the leading manufacturers of the global Digital Twin market, including their competitive landscape, peer analysis, BCG matrix and company profile.

Evaluate the market-by-market segments, countries/regions and manufacturers/companies, the revenue share and sales of these companies/companies in these different regions of the main countries/regions (2022-2027).

… To be continued

Table of Contents Digital Twin Market

Chapter 1: Digital Twin Market Overview, Drivers, Restrictions and Opportunities, Segmentation Overview

Chapter 2: Market competition by manufacturers

Chapter 3: Production by regions

Chapter 4: Consumption by Regions

Chapter 5: Production, by types, revenue and market share by types

Chapter 6: Consumption, by applications, market share (%) and growth rate by applications

Chapter 7: Profiling and comprehensive analysis of Producers

Chapter 8: Production Cost Analysis, Raw Material Analysis, Regional Production Expenses.

Chapter 9: Industrial chain, sourcing strategy and downstream buyers

Chapter 10: Marketing strategy analysis, distributors / merchants

Chapter 11: Market Effect Factors Analysis

Chapter 12: Market Forecasts

Chapter 13:  Digital Twin Market Research findings and conclusions, Appendix, methodology and data source.

Keep it going…

Finally, the researchers shed information on global Digital Twin ‘ precise analysis. It also assesses the long-term patterns and platforms that support market expansion. The research report also assesses the level of competitiveness. The market has been thoroughly examined using SWOT analysis and Porter’s five scanning. It also aids in the management of company risks and obstacles. It also includes considerable research on sales techniques

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Digital Twin Market 2022 Global Outlook – General Electric, PTC, Siemens, Dassault Systmes, IBM Corporation, ANSYS

The Digital Twin Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The digital twin market is registering a CAGR of 34.48% over the forecast period.

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Top Leading Companies of Global Digital Twin Market are General Electric, PTC, Siemens, Dassault Systmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation, Accenture (Mackevision), SAP, AVEVA Group and others.

Recent Developments:

September 2022 – SharpEnd and Threedium, two U.K.-based technology companies, combined their top proprietary technology solutions to let marketers provide linked experiences with Metaverse. These interactions include the ability to quickly tap or scan embedded QR and NFC to unlock digital twins of physical objects. Through this, brands could soon activate storytelling 3D/AR applications and tokenize their products.

March 2022 – Valiot enhanced its manufacturing software through digital twin technology. Artificial intelligence capabilities applied to the value chain empowered manufacturers to predict and react to unexpected changes in every part of the value chain, including demand, supply, production, and distribution.

Global Digital Twin Market Split by Product Type and Applications:

This report segments the global Digital Twin market based on Types are:

System Twin

Process Twin

Asset Twin

Based on Application, the Global Digital Twin market is segmented into:

Aerospace and Defense

Automotive and Transportation

Machine Manufacturing

Energy and Utilities

Others

Global Digital Twin Market: Regional Analysis

The report offers an in-depth assessment of the growth and other aspects of the Digital Twin market in important regions, including the U.S., Canada, Germany, France, the U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific, and Latin America.

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Important Sections from the Table of Contents:

o Global Digital Twin Market Overview

o Economic Impact on Industry

o Market Competition by Manufacturers

o Production, Revenue (Value) by Region

o Supply (Production), Consumption, Export, Import by Regions

o Production, Revenue (Value), Price Trend by Type

o Market Analysis by Application

o Manufacturing Cost Analysis

o Industrial Chain, Sourcing Strategy and Downstream Buyers

o Marketing Strategy Analysis, Distributors/Traders

o Market Effect Factors Analysis

o Global Digital Twin Market Forecast

The research includes historic data from 2016 to 2021 and forecasts until 2028 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Digital Twin Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Digital Twin industry report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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Digital Twin Market Trend, Technology Innovations and Growth Prediction 2021-2027

Digital Twin

The report titled Digital Twin Market has recently added by MarketIntelligenceData to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.

The digital twin market is anticipated to witness a CAGR of 35.0% over the forecast period 2020 – 2025.

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Top Companies operating in the Global Digital Twin market profiled in the report:

ANSYS, Inc., Cal-Tek Srl, Cityzenith, General Electric Company, IBM Corporation, Lanner Group Limited, Mevea Ltd., Microsoft Corporation, Rescale, Inc., and SAP SE

Scope of the Report

The digital twin market is the digital representation of machinery systems for a better understanding of product design and physical deployment of the systems. The digital twin is an integration of all modern intelligence technologies including Big Data, artificial intelligence, machine learning and IoT used for predictive analysis of any system or equipment.

Key Market Trends

Surge in Adoption of 3D Printing Technology in Manufacturing Anticipated to Fuel the Demand

– 3D printing technology has already brought revolutionary changes in the manufacturing industry through its fast model building capability and flexible printing materials. With the introduction of digital twin technology, the advantage of 3D printing has gone even more ahead in various manufacturing industries such as automotive, aerospace, medical and utility industries. Vendors in the market, are involved in partnerships and collaborations to integrate their 3D printing capability with digital twin technology, where they are targeting to lower the production and manufacturing cost through pre-testing and predictive analysis of goods.
– January 2019: Siemens AG announced to integrate its 3D additive manufacturing process simulation with digital twin software to build optimized models with minimal errors. This integration of two technologies on the same platform is anticipated to drive the growth for both 3D printing and digital twin technology in the manufacturing industry.

Market Segment by Applications, covers:

Manufacturing
Energy & power
Aerospace
Oil & Gas
Automobile
Regional Analysis For Digital Twin Market:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Influence of the Digital Twin Market Report:

-Comprehensive assessment of all opportunities and risk in the Digital Twin market.

-Digital Twin market recent innovations and major events.

-Detailed study of business strategies for growth of the Digital Twin market-leading players.

-Conclusive study about the growth plot of Digital Twin market for forthcoming years.

-In-depth understanding of Digital Twin market-particular drivers, constraints and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Digital Twin market.

Research Methodology:

Digital Twin Market report includes the estimation of market size for value (million USD) and volume (M Sqm). Both Top-down and bottom-up approaches have been used to estimate and validate the market size of Digital Twin Market, to estimate the size of various other dependent submarkets in the overall market.

Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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Digital Twin Market Growth Dynamics by Application, End Use and Regional Outlook to 2025

The Asia Pacific digital twin market is estimated to exhibit a remarkable growth with a CAGR of over 30% during the forecast timeline. Also, the presence of leading automotive players in countries including India, South Korea and Japan will influence industry growth. Additionally, increasing adoption of IoT and IIoT coupled with the surge in smartphones will fuel digital twin market growth.

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The emergence of Industry 4.0 has been majorly responsible for propelling digital twin market share. Automation in various sectors has been accelerating the adoption of digital twin technology, consequently impelling the industry. The automobile sector has also been playing a major role in the expansion of market, given the adoption of automated technologies in the domain. For instance, Bosch has been comparing sensor-driven production data to a digital twin of production lines running at 100 percent efficiency to improve its output.

The changing digital twin market outlook can be accredited to the increasing adoption of IoT and rapidly rising rate of digitalization across the globe. According to the Annual IoT Barometer of Vodafone, more than a third (34%) of businesses have adopted IoT to some extent. Around 70 percent of the companies have moved beyond the pilot and 95 percent report witnessing clear benefits of their investment. This has led to growing confidence in the technology with 83 percent firms now expanding their deployment of IoT.

Digital twin technology, driven by IoT, has helped companies to reduce asset downtime, optimize process time, decrease time-to-market, and improve operational efficiency. The deployment of the technology on account of its incredible benefits will proliferate the growth of digital twin market as more companies enroll to reap the same benefits.

Digital twin technology has provided the manufacturing sector with huge time and cost saving benefits and has vastly enhanced its operations and outputs. The need to increase production, quality and efficiency will contribute to the growth of digital twin industry. The manufacturing sector is projected to account for a share of more than 25% in digital twin market by 2025.

By adopting IoT, digital twin technology and smart products, brands are expected to reduce waste and improve processing time, particularly with packaged consumer products. Digital twinning plays a significant role in tracking and tracing products, services that have become increasingly important to logistic companies and supply-chain managers.

The automotive sector has also been undertaking efforts to deploy digital twin technology to take advantage of the substantial benefits being offered by the technology. For instance, Tesla Motors has been expansively investing in digital twin technology to provide better service and reliability to car owners. The company creates a digital twin of every car it sells and then updates software based on the individual vehicles’ sensor data. This data-driven software development process enables more efficient resource allocation and a markedly better user experience for the vehicle owner.

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Automotive companies operating in the digital twin market are focusing on harnessing technological innovations to strengthen their footprint and acquire new customers. Companies like Tesla and Bosch have been raising standards for technological advancements and raising revenue share of digital twin industry.

Deployment of technologies in various sectors to improve efficiency and cut losses will support market trends. The digital twin market is anticipated to surpass $20 billion by 2025.

List of Charts & Figures from Digital Twin Market Report:

FIG 1    Industry segmentation

FIG 2    Digital twin market, 2014 – 2025 (USD Million)

FIG 3    Digital win evolution

FIG 4    Digital twin ecosystem analysis

FIG 5    Digital twin evolution

FIG 6    Digital twin maturity model

FIG 7    Digital twin conceptual architecture

FIG 8    Digital twin hierarchy analysis

FIG 9    Porter’s analysis

FIG 10    PESTEL analysis

FIG 11    Growth potential analysis

FIG 12    Company analysis of technology & platform market leaders, 2018

FIG 13    Company analysis of digital & automation market leaders, 2018

FIG 14    Competitive Landscape, 2018

FIG 15    SWOT Analysis, Accenture plc

FIG 16    SWOT Analysis, Capgemini SE

FIG 17    SWOT Analysis, IBM Corporation

FIG 18    SWOT Analysis, Infosys Limited

FIG 19    SWOT Analysis, Microsoft Corporation

FIG 20    SWOT Analysis, Oracle Corporation

FIG 21    SWOT Analysis, PTC Inc.

FIG 22    SWOT Analysis, SAP SE

FIG 23    SWOT Analysis, SAS Institute

FIG 24    SWOT Analysis, TIBCO Software Inc.

FIG 25    SWOT Analysis, Wipro Limited

FIG 26    SWOT Analysis, ABB Group

FIG 27    SWOT Analysis, Ansys Inc.

FIG 28    SWOT Analysis, Autodesk Inc.

FIG 29    SWOT Analysis, AVEVA Group plc

FIG 30    SWOT Analysis, Bentley Systems Incorporated

FIG 31    SWOT Analysis, Dassault Systèmes

FIG 32    SWOT Analysis, General Electric Company

FIG 33    SWOT Analysis, Robert Bosch GmbH

FIG 34    SWOT Analysis, Rockwell Automation

FIG 35    SWOT Analysis, Schneider Electric SE

FIG 36    SWOT Analysis, Siemens AG

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Digital Twin Market 2020 Competitive Insights and Future Scope – IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation

Digital Twin Market

In 2018, the global Digital Twin market size was 1240 million US$ and it is expected to reach 13800 million US$ by the end of 2025, with a CAGR of 35.1% during 2019-2025.

The Digital Twin Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Digital Twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance. Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.

Top Leading Companies of Global Digital Twin Market are General Electric, PTC, Siemens, Dassault Systmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation and others.

Regional Outlook of Digital Twin Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

On The Basis Of Product, The Digital Twin Market Is Primarily Split Into

Parts Twin
Product Twin
Process Twin
System Twin

On The Basis Of End Users/Application, This Report Covers

Aerospace & Defense
Automotive & Transportation
Machine Manufacturing
Energy & Utilities
Others

This allows understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences, and the vendor landscape of the overall market.

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Following are major Table of Content of Digital Twin Industry:

  • Digital Twin Market Sales Overview.
  • Digital Twin Market Sales Competition by Manufacturers.
  • Digital Twin Market Sales Analysis by Region.
  • Digital Twin Market Sales Analysis by Type.
  • Digital Twin Market Analysis by Application.
  • Digital Twin Market -Manufacturers Analysis.

Furthermore, this study will help our clients solve the following issues:

Cyclical dynamics – We foresee dynamics of industries by using core analytical and unconventional market research approaches. Our clients use insights provided by us to maneuver themselves through market uncertainties and interferences.

Identifying key cannibalizes – Strong substitute of a product or service is the most important threat. Our clients can identify key cannibalizes of a market, by procuring our research. This helps them in aligning their new product development/launch strategies in advance.

Spotting emerging trends – The report help clients to spot upcoming hot market trends. We also track possible impact and disruptions which a market would witness by a particular emerging trend. Our proactive analysis help clients to have early mover advantage.

Interrelated opportunities – This report will allow clients to make decisions based on data, thereby increasing the chances that the strategies will perform better if not best in real world.

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