Digital Twin is a near-real-time digital image about the historical and current behaviour 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.
Digital Twin Technology Market contains market size and forecasts of Digital Twin Technology in Global, including the following market information:
- Global Digital Twin Technology Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Digital Twin Technology market was valued at 1826.4 million in 2021 and is projected to reach US$ 4052.3 million by 2028, at a CAGR of 12.1% during the forecast period 2022-2028.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
System Twin Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Digital Twin Technology include General Electric, PTC, Siemens, Dassault Syst?mes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation and Accenture (Mackevision), etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Digital Twin Technology companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Digital Twin Technology Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Digital Twin Technology Market Segment Percentages, by Type, 2021 (%)
- System Twin
- Process Twin
- Asset Twin
Global Digital Twin Technology Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Digital Twin Technology Market Segment Percentages, by Application, 2021 (%)
- Aerospace and Defense
- Automotive and Transportation
- Machine Manufacturing
- Energy and Utilities
- Others
Global Digital Twin Technology Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Digital Twin Technology Market Segment Percentages, By Region and Country, 2021 (%)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic Countries
- Benelux
- Rest of Europe
- Asia
- China
- Japan
- South Korea
- Southeast Asia
- India
- Rest of Asia
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Turkey
- Israel
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Digital Twin Technology revenues in global market, 2017-2022 (estimated), ($ millions)
- Key companies Digital Twin Technology revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
- General Electric
- PTC
- Siemens
- Dassault Syst?mes
- IBM Corporation
- ANSYS
- Microsoft Corporation
- Oracle Corporation
- Accenture (Mackevision)
- SAP
- AVEVA Group
Industry Market Size
