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Digital Twin-Global Market Insights and Sales Trends 2024
Synopsis
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.
The global Digital Twin market size is expected to reach US$ 4133.3 million by 2029, growing at a CAGR of 12.6% from 2023 to 2029. The market is mainly driven by the significant applications of Digital Twin in various end use industries. The expanding demands from the Aerospace and Defense, Automotive and Transportation, Machine Manufacturing and Energy and Utilities, are propelling Digital Twin market. System Twin, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Process Twin segment is estimated at % CAGR for the next seven-year period.
Global digital twin key players include General Electric, PTC, Siemens etc. Global top 5 manufacturers hold a share about 65%. North America is the largest market, with a share about 53%, followed by Europe, have a share over 38 percent.In terms of product, system twin is the largest segment, with a share over 55%. And in terms of application, the largest application is machine manufacturing, followed by energy & utilities.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Digital Twin, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Digital Twin market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Digital Twin market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Digital Twin sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Digital Twin covered in this report include General Electric, PTC, Siemens, Dassault Systèmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation and Accenture (Mackevision), etc.
The global Digital Twin market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group
Global Digital Twin market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Digital Twin market, Segment by Type:
System Twin
Process Twin
Asset Twin
Global Digital Twin market, by Application
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Digital Twin companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
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.
The global Digital Twin market size is expected to reach US$ 4133.3 million by 2029, growing at a CAGR of 12.6% from 2023 to 2029. The market is mainly driven by the significant applications of Digital Twin in various end use industries. The expanding demands from the Aerospace and Defense, Automotive and Transportation, Machine Manufacturing and Energy and Utilities, are propelling Digital Twin market. System Twin, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Process Twin segment is estimated at % CAGR for the next seven-year period.
Global digital twin key players include General Electric, PTC, Siemens etc. Global top 5 manufacturers hold a share about 65%. North America is the largest market, with a share about 53%, followed by Europe, have a share over 38 percent.In terms of product, system twin is the largest segment, with a share over 55%. And in terms of application, the largest application is machine manufacturing, followed by energy & utilities.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Digital Twin, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Digital Twin market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Digital Twin market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Digital Twin sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Digital Twin covered in this report include General Electric, PTC, Siemens, Dassault Systèmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation and Accenture (Mackevision), etc.
The global Digital Twin market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group
Global Digital Twin market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Digital Twin market, Segment by Type:
System Twin
Process Twin
Asset Twin
Global Digital Twin market, by Application
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Digital Twin companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index1 Market Overview of Digital Twin
1.1 Digital Twin Market Overview
1.1.1 Digital Twin Product Scope
1.1.2 Digital Twin Market Status and Outlook
1.2 Global Digital Twin Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Digital Twin Market Size by Region (2018-2029)
1.4 Global Digital Twin Historic Market Size by Region (2018-2023)
1.5 Global Digital Twin Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Digital Twin Market Size (2018-2029)
1.6.1 North America Digital Twin Market Size (2018-2029)
1.6.2 Europe Digital Twin Market Size (2018-2029)
1.6.3 Asia-Pacific Digital Twin Market Size (2018-2029)
1.6.4 Latin America Digital Twin Market Size (2018-2029)
1.6.5 Middle East & Africa Digital Twin Market Size (2018-2029)
2 Digital Twin Market by Type
2.1 Introduction
2.1.1 System Twin
2.1.2 Process Twin
2.1.3 Asset Twin
2.2 Global Digital Twin Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Digital Twin Historic Market Size by Type (2018-2023)
2.2.2 Global Digital Twin Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Digital Twin Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Digital Twin Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Digital Twin Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Digital Twin Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Digital Twin Revenue Breakdown by Type (2018-2029)
3 Digital Twin Market Overview by Application
3.1 Introduction
3.1.1 Aerospace and Defense
3.1.2 Automotive and Transportation
3.1.3 Machine Manufacturing
3.1.4 Energy and Utilities
3.1.5 Others
3.2 Global Digital Twin Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Digital Twin Historic Market Size by Application (2018-2023)
3.2.2 Global Digital Twin Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Digital Twin Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Digital Twin Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Digital Twin Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Digital Twin Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Digital Twin Revenue Breakdown by Application (2018-2029)
4 Digital Twin Competition Analysis by Players
4.1 Global Digital Twin Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Digital Twin as of 2022)
4.3 Date of Key Players Enter into Digital Twin Market
4.4 Global Top Players Digital Twin Headquarters and Area Served
4.5 Key Players Digital Twin Product Solution and Service
4.6 Competitive Status
4.6.1 Digital Twin Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 General Electric
5.1.1 General Electric Profile
5.1.2 General Electric Main Business
5.1.3 General Electric Digital Twin Products, Services and Solutions
5.1.4 General Electric Digital Twin Revenue (US$ Million) & (2018-2023)
5.1.5 General Electric Recent Developments
5.2 PTC
5.2.1 PTC Profile
5.2.2 PTC Main Business
5.2.3 PTC Digital Twin Products, Services and Solutions
5.2.4 PTC Digital Twin Revenue (US$ Million) & (2018-2023)
5.2.5 PTC Recent Developments
5.3 Siemens
5.3.1 Siemens Profile
5.3.2 Siemens Main Business
5.3.3 Siemens Digital Twin Products, Services and Solutions
5.3.4 Siemens Digital Twin Revenue (US$ Million) & (2018-2023)
5.3.5 Dassault Systèmes Recent Developments
5.4 Dassault Systèmes
5.4.1 Dassault Systèmes Profile
5.4.2 Dassault Systèmes Main Business
5.4.3 Dassault Systèmes Digital Twin Products, Services and Solutions
5.4.4 Dassault Systèmes Digital Twin Revenue (US$ Million) & (2018-2023)
5.4.5 Dassault Systèmes Recent Developments
5.5 IBM Corporation
5.5.1 IBM Corporation Profile
5.5.2 IBM Corporation Main Business
5.5.3 IBM Corporation Digital Twin Products, Services and Solutions
5.5.4 IBM Corporation Digital Twin Revenue (US$ Million) & (2018-2023)
5.5.5 IBM Corporation Recent Developments
5.6 ANSYS
5.6.1 ANSYS Profile
5.6.2 ANSYS Main Business
5.6.3 ANSYS Digital Twin Products, Services and Solutions
5.6.4 ANSYS Digital Twin Revenue (US$ Million) & (2018-2023)
5.6.5 ANSYS Recent Developments
5.7 Microsoft Corporation
5.7.1 Microsoft Corporation Profile
5.7.2 Microsoft Corporation Main Business
5.7.3 Microsoft Corporation Digital Twin Products, Services and Solutions
5.7.4 Microsoft Corporation Digital Twin Revenue (US$ Million) & (2018-2023)
5.7.5 Microsoft Corporation Recent Developments
5.8 Oracle Corporation
5.8.1 Oracle Corporation Profile
5.8.2 Oracle Corporation Main Business
5.8.3 Oracle Corporation Digital Twin Products, Services and Solutions
5.8.4 Oracle Corporation Digital Twin Revenue (US$ Million) & (2018-2023)
5.8.5 Oracle Corporation Recent Developments
5.9 Accenture (Mackevision)
5.9.1 Accenture (Mackevision) Profile
5.9.2 Accenture (Mackevision) Main Business
5.9.3 Accenture (Mackevision) Digital Twin Products, Services and Solutions
5.9.4 Accenture (Mackevision) Digital Twin Revenue (US$ Million) & (2018-2023)
5.9.5 Accenture (Mackevision) Recent Developments
5.10 SAP
5.10.1 SAP Profile
5.10.2 SAP Main Business
5.10.3 SAP Digital Twin Products, Services and Solutions
5.10.4 SAP Digital Twin Revenue (US$ Million) & (2018-2023)
5.10.5 SAP Recent Developments
5.11 AVEVA Group
5.11.1 AVEVA Group Profile
5.11.2 AVEVA Group Main Business
5.11.3 AVEVA Group Digital Twin Products, Services and Solutions
5.11.4 AVEVA Group Digital Twin Revenue (US$ Million) & (2018-2023)
5.11.5 AVEVA Group Recent Developments
6 North America
6.1 North America Digital Twin Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Digital Twin Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Digital Twin Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Digital Twin Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Digital Twin Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Digital Twin Market Dynamics
11.1 Digital Twin Industry Trends
11.2 Digital Twin Market Drivers
11.3 Digital Twin Market Challenges
11.4 Digital Twin Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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