Global Digital Twin Market Predicted to Generate a Revenue of $52,081.0 Million at a CAGR of 41.3% during 2020--2027 - Exclusive Report [255 pages] by Research Dive

Global Digital Twin Market Predicted to Generate a Revenue of $52,081.0 Million at a CAGR of 41.3% during 2020--2027 - Exclusive Report [255 pages] by Research Dive

PR Newswire

NEW YORK, Dec. 21, 2020

NEW YORK, Dec. 21, 2020 /PRNewswire/ -- Global digital twin market is predicted to witness a significant growth during the forecast period, 2020—2027. System sub-segment is predicted to be the most beneficial. Automotive and transportation segment is anticipated to be the most lucrative. Asia-Pacific is expected to lead the market.

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Research Dive has recently added a report to its offering, titled "Digital Twin Market, by Type (System Digital Twin, Product Digital Twin, Process Digital Twin), End Use Industry (Aerospace and Defense, Automotive and Transportation, Home and Commercial, Healthcare, Energy and Utilities, Oil and Gas, Agriculture, Telecommunication, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027"

The global digital twin market is anticipated to garner a revenue of $52,081.0 million at a CAGR of 41.3%, increasing from $3,500.0 million in 2019, during the forecast period.

Get Access to Sample Report of Digital Twin Market:

Regional Analysis

Asia-Pacific regional market is expected to experience a remarkable growth during the forecast period. The region is anticipated to produce a revenue of $13,020.0 million by the end of 2027. There is a growing demand for digital twin by several industries such as automotive, manufacturing and other verticals to minimize the labor cost in the Asia-Pacific countries such as China, Japan, and India.

Highlights of the Report

The report has divided the market into different segments based on type, end-use, and regional outlook.

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Dynamics of the Market

Digital twin is the digital representation of living and non-living objects which includes things, people, processes, and others. It is used to analyze operations as well as insights of the critical processes. This is the major reason behind the growth of the global digital twin market.

The main restraining factor behind the growth of the market is the huge initial investments required for its installation. Digital twin also requires high maintenance expenditure which is another factor hampering the growth of the market.

An increase has been observed in the adoption and implementation of the digital twin by industries such as manufacturing, automotive, energy & utilities, and others in the recent years. This factor is expected to create many opportunities for the market in the upcoming years.

Top 10 Key Players in Digital Twin Market

As per the report, the leading players of the global digital twin market include

  1. IBM
  2. Microsoft
  3. ANSYS, Inc.
  4. General Electric
  5. Dassault Systèmes
  6. Siemens
  7. SAP
  8. PTC
  9. Robert Bosch GmbH
  10. Oracle

These players are currently focusing on research and development, product launches, collaborations and partnerships to sustain the growth of the market. For instance, in July 2020, Dassault Systèmes, the global leader in engineering and software, has announced the enhancement of collaborative data science capabilities on the 3DEXPERIENCE platform.  Dassault Systèmes' customers can capitalize on their data patrimony by engaging in new virtual twin experiences in which important knowledge found in unstructured text data is transformed into actionable content and insights.

The report also encapsulates many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments in the industry. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]

COVID-19 Impact Analysis on the Digital Twin Market

The COVID-19 pandemic has impacted the global digital twin market in a positive way. During the pandemic, significant manufacturers are implementing different tactics including product launches and product enhancements by investing in R&D to rise the market share. Several companies are focusing on delivering the most innovative solution for efficient operations, enhance product quality, improve safety, and minimize downtime during the coronavirus outbreak.

Get Access to COVID-19 Impact Analysis Report of Digital Twin Market.

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.


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