Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Digital Twins: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Digital Twins estimated at US$9.1 Billion in the year 2022, is projected to reach a revised size of US$126.6 Billion by 2030, growing at a CAGR of 39% over the analysis period 2022-2030.
System, one of the segments analyzed in the report, is projected to record a 38.5% CAGR and reach US$62.1 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Product segment is readjusted to a revised 40.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.5 Billion, While China is Forecast to Grow at 52.2% CAGR
The Digital Twins market in the U.S. is estimated at US$3.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$32.5 Billion by the year 2030 trailing a CAGR of 52.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 32.2% and 38.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 33.7% CAGR.
Select Competitors (Total 208 Featured) -
- ABB Ltd.
- Accenture plc
- ANSYS, Inc.
- AT&T Inc.
- AVEVA Group plc
- Bentley Systems, Incorporated
- Bosch.IO GmbH
- Cal-Tek Srl
- Capgemini SE
- Cityzenith
- Dassault Systemes SE
- General Electric (GE Digital)
- Hexagon AB
- Honeywell International Inc.
- IBM Corporation
- Lanner Group Limited
- Mevea Ltd.
- Microsoft Corporation
- Oracle
- PTC Inc.
- Rescale, Inc.
- Rockwell Automation, Inc.
- SAP SE
- Siemens AG
- TIBCO Software Inc.
- XenonStack
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 621 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $9.1 Billion |
| Forecasted Market Value (USD) by 2030 | $126.6 Billion |
| Compound Annual Growth Rate | 39.0% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy in 2021
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Intriguing Opportunities Ahead for Digital Twin Technology
- How Digital Twin Technology Can Help Businesses to Gain a Competitive Edge
- Digital Twin Technology Trends Big in Built Environment amid COVID-19
- Influencer Market Insights
- Digital Twins - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Digital Twin Technology: A Prelude
- Interoperabilty: Critical to Widespread Use of the Technology
- DTs Aid in Smart Innovation and Help Achieve Sustainability
- Market Outlook
- Recent Industry Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Digital Twins Emerge as an Important Technology for Digital Transformation
- Digital Transformation by Industry: 2020
- Benefits of Adopting Digital Transformation
- Global Digital Transformation Growth (In %)
- Digital Twins: Adding New Dimensions to Product Lifecycle Management
- Digital Twins: A Key Trend in Industry 4.0
- Review of Key Application Areas
- Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
- COVID-19 Impact on Industry 4.0
- Outlook
- Digital Twin Technology Playing an Important Role in Predictive Maintenance
- With Manufacturing Competitiveness Increasing by the Day, PdM is the Right Step Forward Towards to Higher Value, Smart Manufacturing: Global Manufacturing Competitiveness Index (10-100 Index Score) by Country for the Year 2020
- The Age of Analytics Made More Important by COVID-19 Provides the Cornerstone for the Disruptive Growth of Predictive Maintenance
- Industry 4.0 Pushes Up the Effectiveness of Predictive Maintenance
- Market to Witness Unconventional Growth as Effectiveness of Predictive Analytics in Predicting Failure & Maintenance Event Improves on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2020, 2022, 2024, and 2026
- Significant Role of Digital Twins in Helping Organizations Embrace Manufacturing Automation
- The Growing Momentum Towards Manufacturing Automation to Encourage New Pathways to Automating Machine Maintenance: Global Manufacturing Automation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Surge in Adoption of 3D Printing Technology in Manufacturing Industry
- Artificial Intelligence Remains Integral Component of Digital Twin Technology
- Emphasis on Reducing Project Costs to Drive Uptake of Digital Twin Technology
- Focus on Building Crisis Resilient Smart Cities to Drive Demand for Smart City Digital Twin
- Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
- Growing Role Digital Twin Technology in Curbing Carbon Emissions
- Global Greenhouse Emissions by Sector: 2020
- EXHIBIT : Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 20240, 2045 & 2050
- Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
- Digital Twins Present a Powerful Tool to Simulate & Optimize Retail Supply Chain
- Navigating COVID-19 Disruptions with Digital Twins
- Increasing Use of Digital Twins in Automotive Industry
- Vehicle Electrification Steps up with Digital Twin Technology
- Global Electric Vehicle Sales in 000 Units: 2019-2025
- Digital Twin Technology to Expedite 5G Implementation
- Number of 5G Connections Worldwide: 2020-2025
- Global Mobile Connections by Network Type (in %) for 2019 and 2025
- Global Number of 5G Capex Spending (2018-2022) (in US$ Billion)
- Agriculture Industry Accelerates Advanced Technologies Adoption
- Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2020, 2022, 2024 & 2026
- Aerospace Industry to Take Off with Transformative Potential of Digital Twins
- Digital Twins for Modeling of Real-Life Systems
- Impact of COVID-19 on Aerospace Industry
- COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
- Staged Recovery over Long-Term to Benefit Demand
- Global Aircraft Deliveries by Region: 2021-2040
- Specter of Far-Reaching Digital Twin-Related Implications for Life Sciences Arena
- Cognitive Computing Enhances Capabilities of Digital Twin Technology
- The Current State of Digital Twin Adoption in Civil Infrastructure Sector
- Significant Role of DT in the Energy and Utility Sector
- Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
- Steep Rise Healthcare Spending to Augment Adoption of digital Twins
- World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
- Digital Twins Set to Go Mainstream in Real-Estate Sector
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/m9c1ho
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