Digital Twin in the oil & gas is a virtual model in which pairing of virtual and physical worlds is done. The virtual model or digital twin helps oil and gas companies to perform system monitoring and analyses of data in a way that improves operations, reduces maintenance costs, accelerates production, reduces operating expenses, prevents downtime, increases the lifecycle of the assets, and enables better and faster decisions.Oil and gas companies are now able to optimize assets and ensure process improvements in the virtual world before applying them in the real world through digital twin or replicating physical processes or equipment in a virtual environment.
Digital TwinOil Gas Market contains market size and forecasts of Digital Twin in Oil & Gas in Global, including the following market information:
- Global Digital Twin in Oil & Gas Market Revenue, 2017-2022, 2023-2028, ($ millions)
- Global top five companies in 2021 (%)
The global Digital Twin in Oil & Gas market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
- The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
- Product Digital Twin Segment to Reach $ Million by 2028, with a % CAGR in next six years.
- The global key manufacturers of Digital Twin in Oil & Gas include Equinor, General Electric, IBM Corporation, PTC Inc, Microsoft Corporation, Siemens AG, Ansys, Inc, SAP SE and Oracle Corporation, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
- We surveyed the Digital Twin in Oil & Gas 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 in Oil & Gas Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Digital Twin in Oil & Gas Market Segment Percentages, by Type, 2021 (%)
- Product Digital Twin
- Process Digital Twin
- System Digital Twin
Global Digital Twin in Oil & Gas Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Digital Twin in Oil & Gas Market Segment Percentages, by Application, 2021 (%)
- Small & Medium Enterprise
- Large Enterprise
Global Digital Twin in Oil & Gas Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Digital Twin in Oil & Gas 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 in Oil & Gas revenues in global market, 2017-2022 (estimated), ($ millions)
- Key companies Digital Twin in Oil & Gas revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
- Equinor
- General Electric
- IBM Corporation
- PTC Inc
- Microsoft Corporation
- Siemens AG
- Ansys, Inc
- SAP SE
- Oracle Corporation
- Robert Bosch GmbH
- SWIM.AI
- Dassault Systemes
- Aveva Group PLC
