In the healthcare sector, the digital twin market will enable personalized healthcare delivery and efficient patient monitoring by leveraging data from associated IoT platforms
Sellbyville, DE -- (SBWIRE) -- 12/07/2018 -- With increasing adoption of industrial IoT in the U.S., North America is expected to hold a significant share of the digital twin market over the forecast period. With increasing industrialization in emerging economies such as India and China, the demand for digital twin technology is expected to significantly increase in the Asia Pacific region, leading to a robust market growth.
Digital twin is an emerging digital profile of a process or a physical product representing its functional and behavioral characteristics used for performance optimization. The technology has enabled the convergence of the real and the virtual world through real-time digital representations of physical products that can extend to every stage of the product development lifecycle right from idea generation to commercialization. Such digital models simulate the objects in a live setting enabling enhanced product examination and process optimization. Due to its significant potential to improve enterprise decision making, digital twin has been recognized as one of the top strategic technology trends in 2017.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- General Electric
- Sight Machine
- TIBCO Software
- Prodea System
- Cosmo Company Sas
- DIGITAL TWIN
- Computer Science Corporation
Some of the key applications of digital twin technology are observed in the areas of retail, manufacturing, healthcare, automobile and industrial IoT. In the manufacturing sector, the throughput time can be significantly reduced by adopting digital twin technology to improve the efficiency of the manufacturing process flow and optimize it. In the automobile sector, virtual models of connected vehicles can be designed to analyze the performance of the vehicle and to provide the customers with a customized experience.
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In the healthcare sector, the digital twin market will enable personalized healthcare delivery and efficient patient monitoring by leveraging data from associated IoT platforms. Implementing the technology for industrial applications can largely facilitate effective monitoring, tracking, and control of various industrial systems and processes digitally. With the ability of predicting future anomalies, digital twin market technology can aid in operational planning for the industrial applications resulting in time and cost savings.
Some of the key players operating in the digital twin market are General Electric, IBM, Oracle, Dassault, PTC, Ansys, Siemens, SAP, Sight Machine, TIBCO Software, AT&T, Infosys, TwinThread, Prodea System, Cosmo Company Sas, Autodesk, SimScale, DIGITAL TWIN, Concirrus, Computer Science Corporation, and Bosch.
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