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.
Scope of the Report:
China, Japan, India and S. Korea, etc. are now the key developing market of Digital Twin in the future while they are all just at the beginning of digital twin technology. There are few vendors to have digital twin technology, and the Chinese market is still much smaller than the USA. Chinese AVIC have signed an agreement with French Dassault Systèmes to develop the digital twin in Jun. 2017.
The global Digital Twin market is valued at 1240 million USD in 2018 and is expected to reach 8480 million USD by the end of 2024, growing at a CAGR of 37.8% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Digital Twin.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Digital Twin market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Digital Twin market by product type and applications/end industries.
Market Segment by Companies, this report covers
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Market Segment by Regions, regional analysis covers
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)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Parts Twin
Product Twin
Process Twin
System Twin
Market Segment by Applications, can be divided into
Aerospace & Defense
Automotive & Transportation
Machine Manufacturing
Energy & Utilities
Others
Summary:
Get latest Market Research Reports on Digital Twin . Industry analysis & Market Report on Digital Twin is a syndicated market report, published as Global Digital Twin Market 2019 by Company, Regions, Type and Application, Forecast to 2024. It is complete Research Study and Industry Analysis of Digital Twin market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.