Global Digital Twin Market to reach USD 30.2 billion by 2025 | CAGR: 38.85%
Global Digital Twin market is valued USD 1.85 billion in 2016 is anticipated to grow USD 30.2 billion with the compounded annual growth of 38.85% over the forecast period 2017-2025.
Global Digital Twin industry is poised to raise USD 30.2 billion by 2025. Digital twin is a technology which represents the convergence of virtual and physical world to create a dynamic representation. It involves ‘connected things’ to create real time digital data representation. It incorporates artificial intelligence (AI), Machine Learning, Industry 4.0 and IoT. Rising design digitalization and complexities involved in manufacturing process are the major driving factors for digital twin technology. However, increasing cyber-attacks which are causing major losses to the industries are likely to restrict the market growth over the forecast period
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Global Digital Twin (Television) Market Size Study, By End-Use (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Electronics & Electricals/Machine Manufacturing, Energy & Utilities, Healthcare, Retail & Consumer Goods) and Regional Forecasts, 2017 – 2025
The global Digital Twin industry seems to be fairly competitive. Some of the leading market players include General Electric, IBM Corporation, Microsoft Corporation, Oracle Corporation, and PTC, Inc., ANSYS, Inc., Dassault Systèmes, Siemens AG, and Robert Bosch GmbH. These players
Key findings of the study:
- Asia Pacific region is anticipated to witness highest CAGR over the forecast period 2017-2025.
- The electronics and electrical/machine manufacturing industry accounted the largest share in 2016.
- Healthcare segment is expected to grow with the highest annual growth over the coming eight years.
- Key players are heavily investing in product developments and launches, strategic partnerships, collaborations and acquisitions in order to maximize their revenue.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Aerospace & Defense
- Automotive & Transportation
- Home & Commercial
- Electronics & Electricals/Machine Manufacturing
- Energy & Utilities
- Retail & Consumer Goods
- North America
- Asia Pacific
- Latin America
- Rest of the World
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