Digital Twin Market Research Report - Global Forecast 2023

Publisher : Market Research Future Publication Date : Sep 11, 2018

Number of Pages : 100 Subcategory : Semiconductor & Electronics
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  • Description

    Product Description

    Market Scenario:

    Major giants like General Electric, IBM Corporation and Microsoft Corporation are investing into the digital twin market due to increasing demand for digital twin solutions across various industry verticals. Increasing demand for cloud based platforms and growing popularity of internet of things are major factors driving the growth of digital twin market. General Electric has come up with a predix system software architecture which will convert any system into an intelligent system and will help in gaining insights to industrial infrastructure and operations. Rise in the demand for cost effective solutions for industrial manufacturing is another major factor fueling the growth of digital twin market. Predominant use of industrial internet of things for manufacturing and designing is one major factor driving the growth of digital twin market.

    North America region holds the largest market share of global digital twin market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for analytical tools and spatial data in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies. Increasing popularity and rise in adoption of business intelligence is one major factor responsible for driving the growth of digital twin market.

    Digital twin market has been segmented on the basis of application & end user. The application segment is further bifurcated into dynamic optimization, predictive maintenance, machine & equipment health monitoring and product design & development. The machine & equipment health monitoring sub segment is further bifurcated into conditional monitoring and structural health. Digital twin technology will help in optimizing the workflow and also provide cost effective solutions for the same.

    Digital twin basically is integration of machine learning, artificial intelligence and software analytics. It helps in creating a digital replica of the physical assets, systems and processes. Currently digital twin technology is extensively used for designing and repairing of airplanes and turbines. Digital twin technology has been around since 2002 and it’s all because of internet of things. Digital twin technology proves to be very cost effective and hence helps in providing better and cost effective solutions for industrial manufacturing.

    The global digital twin market is expected to grow at approx. USD 15 Billion by 2023, at 37% of CAGR between 2017 and 2023.

    Key Players:

    The prominent players in digital twin market are – General Electric (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Cisco Systems, Inc. (U.S.), PTC, Inc. (U.S.), Ansys, Inc. (U.S.), Dassault Systèmes (France), Siemens AG (Germany), Robert Bosch GmbH (Germany) and others.

    Also, Allerin Tech Pvt Ltd., Altair Engineering, Inc., Amazon Web Services, Aucotec AG, Autodesk Inc., CADFEM GmbH, Computer Science Corporation, CoSMo Company SAS, DNV GL AS, FEINGUSS BLANK GmbH, Prodea System Inc., SAP SE, Siemens AG, Sight Machine Inc., TIBCO Software Inc., Toshiba Corporation, and Virtalis Limited are few other major players in the digital twin market. These companies have not been profiled in our study, but it can be taken up as a part of customization, as per client requirements.

    Segments:

    Digital twin market can be segmented on the basis of following:

    By Application

    • Dynamic Optimization
    • Predictive Maintenance
    • Machine & Equipment Health Monitoring
    - Conditional Monitoring
    - Structural Health

    Product Design & Development

    By End User

    • Automotive & Transportation
    • Aerospace & Defense
    • Healthcare
    • Retail
    • Energy & Utilities
    • Home & Commercial
    • Electronics & Electrical Manufacturing
    • Others

    Regional Analysis:

    The regional analysis of digital twin market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in digital twin market in North America is attributed to technical advancements and increasing popularity of internet of things in that region.

    Intended Audience

    • Technology Investors
    • Research/Consultancy Firms
    • Original equipment manufacturers (OEMs)
    • Government Bodies
    • Global Digital Twin Providers
    • Organizations, associations and alliances related to digital twin analytics
    • Industry associations

  • Table of Content

    Digital Twin Market Research Report - Global Forecast 2023

    Table of Content:

    1 MARKET INTRODUCTION
    1.1 INTRODUCTION
    1.2 SCOPE OF STUDY
    1.2.1 RESEARCH OBJECTIVE
    1.2.2 ASSUMPTIONS
    1.2.3 LIMITATIONS
    1.3 MARKET STRUCTURE

    2 RESEARCH METHODOLOGY
    2.1 RESEARCH TYPE
    2.2 PRIMARY RESEARCH
    2.3 SECONDARY RESEARCH
    2.4 FORECAST MODEL
    2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
    2.4.2 MARKET SIZE ESTIMATION
    3 MARKET DYNAMICS
    3.1 INTRODUCTION
    3.2 MARKET DRIVERS
    3.3 MARKET CHALLENGES
    3.4 MARKET OPPORTUNITIES
    3.5 MARKET RESTRAINTS
    4 EXECUTIVE SUMMARY
    5. MARKET FACTOR ANALYSIS
    5.1 PORTER’S FIVE FORCES ANALYSIS
    5.2 SUPPLY CHAIN ANALYSIS
    6 DIGITAL TWIN MARKET, BY SEGMENTS
    6.1 INTRODUCTION
    6.2 MARKET STATISTICS
    6.2.1 BY APPLICATION
    6.2.1.1 DYNAMIC OPTIMIZATION
    6.2.1.2 PREDICTIVE MAINTENANCE
    6.2.1.3 MACHINE & EQUIPMENT HEALTH MONITORING
    6.2.1.3.1 CONDITIONAL MONITORING
    6.2.1.3.2 STRUCTURAL HEALTH
    6.2.1.4 PRODUCT DESIGN & DEVELOPMENT
    6.2.2 BY END USER
    6.2.2.1 AUTOMOTIVE & TRANSPORTATION
    6.2.2.2 AEROSPACE & DEFENSE
    6.2.2.3 HEALTHCARE
    6.2.2.4 RETAIL
    6.2.2.5 ENERGY & UTILITIES
    6.2.2.6 HOME & COMMERCIAL
    6.2.2.7 ELECTRONICS & ELECTRICAL MANUFACTURING
    6.2.2.8 OTHERS
    6.2.3 BY REGION
    6.2.3.1 NORTH AMERICA
    6.2.3.1.1 U.S.
    6.2.3.1.2 CANADA
    6.2.3.1.3 MEXICO
    6.2.3.2 EUROPE
    6.2.3.2.1 U.K.
    6.2.3.2.2 GERMANY
    6.2.3.2.3 FRANCE
    6.2.3.2.4 ITALY
    6.2.3.2.5 REST OF EUROPE
    6.2.3.3 ASIA PACIFIC
    6.2.3.3.1 CHINA
    6.2.3.3.2 JAPAN
    6.2.3.3.3 SOUTH KOREA
    6.2.3.3.4 INDIA
    6.2.3.3.5 REST OF ASIA PACIFIC
    6.2.3.4 REST OF THE WORLD
    7 COMPETITIVE ANALYSIS
    7.1 MARKET SHARE ANALYSIS
    7.2 COMPANY PROFILES
    7.2.1 GENERAL ELECTRIC (U.S.)
    7.2.2 IBM CORPORATION (U.S.)
    7.2.3 MICROSOFT CORPORATION (U.S.)
    7.2.4 ORACLE CORPORATION (U.S.)
    7.2.5 CISCO SYSTEMS, INC. (U.S.)
    7.2.6 PTC, INC. (U.S.)
    7.2.7 ANSYS, INC. (U.S.)
    7.2.8 DASSAULT SYSTÈMES (FRANCE)
    7.2.9 SIEMENS AG (GERMANY)
    7.2.10 ROBERT BOSCH GMBH (GERMANY)
    7.2.11 OTHERS

    LIST OF TABLES
    TABLE 1 DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 2 DIGITAL TWIN MARKET, BY END USER
    TABLE 3 DIGITAL TWIN MARKET, BY REGIONS
    TABLE 4 NORTH AMERICA DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 5 NORTH AMERICA DIGITAL TWIN MARKET, BY END USER
    TABLE 6 U.S. DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 7 U.S. DIGITAL TWIN MARKET, BY END USER
    TABLE 8 CANADA DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 9 CANADA DIGITAL TWIN MARKET, BY END USER
    TABLE 10 MEXICO DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 11 MEXICO DIGITAL TWIN MARKET, BY END USER
    TABLE 12 EUROPE DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 13 EUROPE DIGITAL TWIN MARKET, BY END USER
    TABLE 14 U.K. DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 15 U.K. DIGITAL TWIN MARKET, BY END USER
    TABLE 16 GERMANY DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 17 GERMANY DIGITAL TWIN MARKET, BY END USER
    TABLE 18 FRANCE DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 19 FRANCE DIGITAL TWIN MARKET, BY END USER
    TABLE 20 ITALY DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 21 ITALY DIGITAL TWIN MARKET, BY END USER
    TABLE 22 REST OF EUROPE DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 23 REST OF EUROPE DIGITAL TWIN MARKET, BY END USER
    TABLE 24 ASIA PACIFIC DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 25 ASIA PACIFIC DIGITAL TWIN MARKET, BY END USER
    TABLE 26 CHINA DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 27 CHINA DIGITAL TWIN MARKET, BY END USER
    TABLE 28 JAPAN DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 29 JAPAN DIGITAL TWIN MARKET, BY END USER
    TABLE 30 SOUTH KOREA DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 31 SOUTH KOREA DIGITAL TWIN MARKET, BY END USER
    TABLE 32 INDIA DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 33 INDIA DIGITAL TWIN MARKET, BY END USER
    TABLE 34 REST OF ASIA PACIFIC DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 35 REST OF ASIA PACIFIC DIGITAL TWIN MARKET, BY END USER
    TABLE 36 REST OF THE WORLD DIGITAL TWIN MARKET, BY APPLICATION
    TABLE 37 REST OF THE WORLD DIGITAL TWIN MARKET, BY END USER

    LIST OF FIGURES

    FIGURE 1 RESEARCH TYPE
    FIGURE 2 DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 3 DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 4 DIGITAL TWIN MARKET, BY REGIONS (%)
    FIGURE 5 NORTH AMERICA DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 6 NORTH AMERICA DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 7 U.S. DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 8 U.S. DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 9 CANADA DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 10 CANADA DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 11 MEXICO DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 12 MEXICO DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 13 EUROPE DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 14 EUROPE DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 15 U.K. DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 16 U.K. DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 17 GERMANY DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 18 GERMANY DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 19 FRANCE DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 20 FRANCE DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 21 ITALY DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 22 ITALY DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 23 REST OF EUROPE DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 24 REST OF EUROPE DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 25 ASIA PACIFIC DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 26 ASIA PACIFIC DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 27 CHINA DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 28 CHINA DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 29 JAPAN DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 30 JAPAN DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 31 SOUTH KOREA DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 32 SOUTH KOREA DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 33 INDIA DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 34 INDIA DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 35 REST OF ASIA PACIFIC DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 36 REST OF ASIA PACIFIC DIGITAL TWIN MARKET, BY END USER (%)
    FIGURE 37 REST OF THE WORLD DIGITAL TWIN MARKET, BY APPLICATION (%)
    FIGURE 38 REST OF THE WORLD DIGITAL TWIN MARKET, BY END USER (%)

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