Digital Twin Market Share, Segmentation, Report 2025 - PowerPoint PPT Presentation

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Digital Twin Market Share, Segmentation, Report 2025

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Some of the key players operating in the digital twin market are ABB Group, Ansys Inc., Autodesk Inc., Dassault Systèmes – PowerPoint PPT presentation

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Title: Digital Twin Market Share, Segmentation, Report 2025


1
Digital Twin market to grow at 28 CAGR from 2019
to 2025 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
2
Overview of Digital Twin Market
  • The Asia Pacific digital twin market is projected
    to register an excellent growth with a CAGR of
    around 30 between 2019 and 2025. The growing
    adoption of the IoT and IIoT due to increasing
    internet penetration coupled with the
    proliferation of smartphones is fueling the
    market. The presence of prominent automotive
    players in the countries including Japan, South
    Korea, and India is contributing immensely to the
    digital twin market growth. Additionally, this
    growth can be attributed to the rapidly evolving
    e-commerce ecosystem along with heavy investments
    from venture capitalists to leverage the growing
    demand for the online market. In 2017-2018, the
    retail shrinkage percentage of sales in the Asia
    Pacific region was estimated at around 1.75,
    amounting to nearly USD 24 billion.
  • The digital twin market growth is attributed to
    the increasing adoption of the IoT and IIoT and
    the rapidly growing digitalization in
    manufacturing, automotive, and healthcare
    industries. The continuously rising adoption of
    the IoT that is empowered backed by 3D
    simulation, deep learning, Artificial
    Intelligence (AI), and big data analytics will
    help in the cost-effective implementation of
    digital twin in aerospace defense, healthcare,
    and retail consumer goods sectors. The digital
    twin enables real-time and predictive analytics,
    helping in cost time savings. For instance, in
    the aviation sector, GE helps its client
    companies in understanding airline routes,
    dynamic optimization of maintenance schedule of
    jet engines, and maintenance shop availability
    through digital twin with the help of its Predix
    platform.

3
Continue
  • The rising demand for reducing asset downtime,
    optimizing process time, reducing time-to-market,
    reducing asset downtime, and improving
    operational efficiency is proliferating the
    growth of the digital twin market. The supportive
    government initiatives related to the
    construction of smart cities and energy-efficient
    smart buildings are anticipated to drive the
    market over the forecast timeline. For instance,
    in January 2018, the Singapore government
    invested approximately USD 73 million in
    data-rich, live digital twin of the Singapore
    city. This will help officials make the best
    urban planning decisions and communicate with
    citizens by sharing information visually.
  • The process support service application are
    anticipated to exhibit a lucrative growth at a
    CAGR of over 30 between 2019 and 2025. This
    application include inventory management services
    and supply chain management services. The use of
    digital twin in these application enables
    effective inventory optimization by allowing
    organizations to reduce inventory up to a
    considerable percentage to free up the working
    capital from unnecessary inventory buffers. This
    also facilitates reduced inventory carrying costs
    and increased customer service performance.

4

Browse Full Research Report On Digital Twin
Market _at_ https//bit.ly/2jejG2I Request for
a sample of this research report _at_
https//bit.ly/2MCSZXx gminsights.com/request-to
c/upcoming/1797
5
  • Germany Digital Twin Market
    Revenue, By Application, 2018 2025 (USD
    Million)

6
Continue
  • The healthcare sector is anticipated to hold a
    significant market share in the digital twin
    market. The digital twin offers real-time
    monitoring analytics with machine learning and
    helps to streamline operations processes in
    hospitals, improving customer experience. For
    instance, a single MRI scanner produces an
    average of 800,000 log messages, which reflects
    how a system works technically. The proactive
    remote monitoring services with the digital twin
    of MRI scanner will help to track analyze these
    log messages for early warning signs of impending
    technical issues.
  • The manufacturing sector is expected to secure a
    market share of over 25 in digital twin market
    by 2025. This impressive growth is attributed to
    the robust growth of the manufacturing sector
    after Industry 4.0 and the emergence of
    automation systems in the manufacturing sector to
    rapidly increase production capacities. According
    to the World Bank, manufacturing globally
    contributed to 16 of the total economic value in
    2016. This steady growth of the sector is
    expected to further fuel the demand for digital
    twin to streamline and optimize the manufacturing
    process flows.

7
Continue
  • The companies operating in the digital twin
    market are focusing on technological innovations,
    strategic acquisitions, and mergers to strengthen
    their market position and acquire new customers.
    For instance, in May 2019, Bentley Systems
    acquired Keynetix, a UK-based provider of
    cloud-based software for capturing, modeling,
    visualizing, and sharing geotechnical data to
    build subsurface digital twins. These models of
    underground assets and environments for
    infrastructure projects will be easily monitored
    in real-time.
  • Some of the key players operating in the digital
    twin market are ABB Group, Ansys Inc., Autodesk
    Inc., Dassault Systèmes, General Electric, IBM
    Corporation, Microsoft Corporation, Oracle
    Corporation, Robert Bosch GmbH, SAP SE, Siemens
    AG, and Wipro Limited.

8
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