Digital twin markets for other industries including agriculture and materials and chemicals, and retail and consumer goods industry are expected to grow at high CAGR during forecast period.

Northbrook, IL -- (SBWire) -- 10/25/2018 --[137 Pages Report] The digital twin market was valued at USD 1.82 Billion in 2016 and is expected to reach USD 15.66 Billion by 2023, at a CAGR of 37.87% during the forecast period. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2023.

The main objectives of this study are as follows:

To define, describe, and forecast the digital twin market based on end user and geography

To forecast the market size, in terms of value, for segments with respect to four main regions North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)

To describe applications of digital twins in various industries

To strategically analyze the micromarkets with regard to individual growth trends, prospects, and contribution to the total market

To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

To analyze the opportunities in the market for stakeholders and detail the competitive landscape of the market leaders

To analyze the competitive developments such as partnerships, collaborations, acquisitions, product launches and developments, and R&D activities in the market

To strategically profile the key players and comprehensively analyze their market shares and core competencies along with detailing the competitive leadership for the market leaders

To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments such as product developments, partnerships, collaborations, and acquisitions.

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The research methodology used to estimate and forecast the digital twin market includes the use of extensive primary research and secondary research. The secondary sources referred for this study includes directories; databases such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource; and associations. The vendor offerings have been taken into consideration to determine the market segmentation. The top-down procedure has been employed to arrive at the overall market size of the global digital twin market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with key officials from the companies operating in the digital twin ecosystem, such as CEOs, VPs, directors, and executives. This data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

To know about the assumptions considered for the study, download the pdf brochure

This report provides valuable insights into the digital twin market such as IoT vendors, proprietary software related to the digital twin, and end-user industry segments. General Electric (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), and PTC, Inc. (US), ANSYS, Inc. (US), Dassault Systèmes(France), Siemens AG (Germany), and Robert Bosch GmbH (Germany) are the digital twin products and service providers.

Target Audience:

Software solution providers
IoT vendors
Cloud platform providers
Research organizations
Technology standards organizations, forums, and associations
Technology investors
Governments and investment communities
Analysts and strategic business planners

Digital Twin Market Scope:

In this report, the global market has been segmented on the basis of end user and geography.

Digital twin market, by End User

Aerospace and Defense
Automotive and Transportation
Home and Commercial
Electronics and Electrical/Machine Manufacturing
Healthcare
Energy and Utilities
Retail and Consumer Goods
Materials and Chemicals
Agriculture

Digital twin market, by Geography

North America: US, Canada, Mexico
Europe: Germany, UK, France, Rest of Europe
Asia Pacific (APAC): China, Japan, India, Rest of APAC
Rest of the World (RoW): Middle East, Africa, South America

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