The digital twin market is poised to grow by $ 24.81 bn during 2021-2025 progressing at a CAGR of 39%
This study identifies the use of AI in digital twin as one of the prime reasons driving the digital twin market growth during the next few years. Also, increasing traction in the healthcare sector and emergence of process twins will lead to sizable demand in the market.
The market is driven by the industry 4.0 and industrial IoT, increase in demand for predictive maintenance and real-time data for monitoring, and need for reduced time-to-market and improved decision-making. In addition, Industry 4.0 and industrial IoT is anticipated to boost the growth of the market as well.
The report on digital twin market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The digital twin market analysis includes end-user segment, deployment segment, and geographical landscapes.
The publisher robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital twin market vendors that include General Electric Co., Honeywell International Inc., International Business Machines Corp., Kongsberg Gruppen ASA, Microsoft Corp., Oracle Corp., PTC Inc., SAP SE, Siemens AG, and Wipro Ltd..
Also, the digital twin market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Key Topics Covered:
Impact of COVID-19 on IT sector
Value chain analysis
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by End-user
Comparison by End user
Manufacturing - Market size and forecast 2020-2025
Energy and utilities - Market size and forecast 2020-2025
Aerospace and defense - Market size and forecast 2020-2025
Automotive - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
Market opportunity by End user
Market Segmentation by Deployment
Comparison by Deployment
On-premise - Market size and forecast 2020-2025
Cloud - Market size and forecast 2020-2025
Market opportunity by Deployment
Key leading countries
Market opportunity by geography
Market positioning of vendors
General Electric Co.
Honeywell International Inc.
International Business Machines Corp.
Kongsberg Gruppen ASA
For more information about this report visit https://www.researchandmarkets.com/r/pmtgro
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005846/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900