The global digital twin market is projected to grow at a CAGR of 54% to 56% from 2021 to 2026. The growth of digital twin market is driven by growing 3D printing and 3D simulations, increasing demand in the healthcare & pharmaceutical markets, and the COVID-19 pandemic.
Some of the Key Questions answered in
this exclusive report are:
Q.1 What are some of the
most promising potential, high-growth opportunities for the global digital twin
market by technology (IoT & IIoT, blockchain, artificial intelligence &
machine learning, augmented reality, virtual reality, and mixed reality, big
data analytics, and 5G), usage type (product, process twin, system), end use
industry (aerospace & defense, automotive & transportation, home &
commercial, healthcare, energy & utilities, oil & gas, agriculture,
telecommunication, retail and others), and region (North America, Europe, Asia
Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the digital twin market?
Q.4 What are some
changing demands of customers in the digital twin market?
Q.5 What are the new
developments in the digital twin market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this digital twin area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this digital twin market?
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Market Segmentation:
Based on technology, the
digital twin market is segmented into IoT & IIoT, blockchain, artificial
intelligence & machine learning, augmented reality, virtual reality, and
mixed reality, big data analytics, and 5G. The IoT & IIoT segment accounted
for the largest share of the market in 2020 and is expected to register the
highest CAGR during the forecast period, due to growing adoption of digital
twin solutions to cope up with the COVID-19 pandemic in the healthcare and
pharmaceutical industries.
North America will
remain the largest region the forecast period due to high economic growth,
growing use of automation solutions, software for production lines and
downstream operations, prominent presence of digital twin vendors, and growing
demand for smart connected devices and IoT/IIoT.
Key Players in the
digital twin market are ABB Group, Accenture, Ansys, Autodesk, AVEVA, Bentley
Systems, Incorporated, Bosch Rexroth, Capgemini, Dassault Systems, General
Electric, IBM , Infosys, Microsoft, Oracle, PTC, Rockwell Automation, SAP SE,
SAS Institute, Schneider Electric Inc., Siemens AG, TIBCO Software and Wipro.
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https://www.lucintel.com/digital-twin-market.aspx
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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https://www.lucintel.com/digital-twin-market.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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