Digital Twin is a digital model of physical products (physical twins), systems and processes that are used for different purposes. Digital Twin makes use of machine language, software analytics & artificial intelligence together for creating a digital simulation model that changes according to the changes in their physical model. Use of Digital Twin is growing due to; emergence of technologies like IoT & big data, its property to monitor the system & avert the problem that can arise even before it arises, great accuracy of prediction of system status, increasing use in digitization of documents, increasing investment for R&D, wide range of applications in various sectors, etc. Therefore, the Digital Twin Market is anticipated to expand and has tremendous scope during the forecast period. The global Digital Twin Market anticipated to flourish in the future by growing at a significantly higher CAGR.
The global Digital Twin Market is based on segment, by Deployment the market is segmented into Cloud-Based and On-Premises, and by End User the market is segmented into Manufacturing, Aerospace, Home automation, Automotive, Energy and Other End Users.
Digital Twin Market, By Deployment
Digital Twin Market, By End User
Other End Users
On a global front, the Digital Twin Market covers North America (United States, Canada and Mexico), Europe (Germany, UK, France, Russia, Italy, Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific), South America (Brazil, Argentina, Columbia, Rest of South America) and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA). North American region is dominating the Digital Twin Market owing to rising use of IoT due to number of small & large scale companies.
Digital Twin Market, By Region
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
The leading players in the market are AT&T, Tibco Software Inc., Dell, General Electric, Schnitger Corporation, Siemens AG, CSC, Cisco Systems Inc., PTC, Alphabet Inc., Bosch Software Innovations GmbH and SAP SE. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and market share of the overall industry.
Tibco Software Inc.
Cisco Systems Inc.
Bosch Software Innovations GmbH
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?