Digital Twin Market Latest Advancements and Business Outlook 2020-2025 - PowerPoint PPT Presentation

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Digital Twin Market Latest Advancements and Business Outlook 2020-2025

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Declining time and cost of product development and unplanned downtime with the adoption of digital twins, increasing adoption of emerging technologies such as IoT and cloud, and growing use of digital twin for predictive maintenance are among the factors fuelling the growth of the digital twin market. Furthermore, leading players adopt strategies such as product launches and developments to strengthen their market position. – PowerPoint PPT presentation

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Date added: 11 June 2020
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Title: Digital Twin Market Latest Advancements and Business Outlook 2020-2025


1
MarketsandMarkets Presents

COVID-19 impact on the Digital Twin
Market Digital Twin Market by Technology, Type
(Product, Process, and System), Industry
(Aerospace Defense, Automotive
Transportation, Home Commercial, Healthcare,
Energy Utilities, Oil Gas), and Geography -
Global Forecast to 2025 https//www.marketsandmar
kets.com/Market-Reports/digital-twin-market-225269
522.html
2
The digital twin market is estimated to grow
from USD 3.8 billion in 2019 to USD 35.8 billion
by 2025, at a CAGR of 45.4. Factors driving the
demand for digital twin include the growing
adoption of emerging technologies such as IoT and
cloud for the implementation of digital twin and
promising prospect of digital twin in industries
such as healthcare, aerospace defense, and
automotive transportation. Browse 51 market
data Tables and 44 Figures spread through 132
Pages and in-depth TOC on "Digital Twin Market -
Global Forecast to 2025"
3
Digital Twin Market for Automotive
Transportation to account for largest size of
market from 2019 to 2025 Automotive
transportation is expected to be the key end-user
industry for digital twin market. This industry
is growing rapidly due to the increasing usage of
digital twins for designing, simulation,
maintenance, repair, and overhaul, production,
and after service. Moreover, the automotive
transportation industry is the early adopter of
technologies, and there is a rising demand for
connected devices in this sector owing to the
advancements such as connected cars autonomous
cars, which, in turn, boosts the growth of the
market. Ask PDF Brochure https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id225269522 Digita
l Twin market for system digital twin to boost
demand for market during forecast period System
digital twin is expected to hold the largest
share of the digital twin market during the
forecast period.  This growth is attributed to
the increasing demand for system digital twin
type from several industries as a system digital
twin is a collection of assets/products and
processes that together perform as a system- or
network-wide function, such as an oil gas
refinery/plant, a production line in a factory,
an assembly line, a traffic network, a wind farm,
a hospital, and a country. A system twin provides
visibility into a set of interdependent equipment.
4
Digital Twin Market in North America to hold
largest share of market from 2019 to 2025 North
America held the largest share of the overall
digital twin market in 2018, and APAC is likely
to exhibit the highest CAGR during the forecast
period. Major factors driving the growth of the
market in North America is due to the strong
economic infrastructure and significant presence
of digital twin vendors in the region. Moreover,
increasing RD activities in the field of IoT and
IIoT, and growing demand for efficient and
cost-effective technologies for product
manufacturing are the factors driving the market
in this region.
5
  • Key Market Players
  • Key players in the market include General
    Electric (US), IBM (US), PTC (US), Microsoft
    Corporation (US), Siemens AG (Germany), ANSYS
    (US), SAP (Germany), Oracle (US), Robert Bosch
    (Germany), and SWIM.AI (US).
  • Request Free Sample Pages
  • https//www.marketsandmarkets.com/requestsampleNew
    .asp?id225269522
  • Digital Twin Market By Technology
  • IoT IIoT
  • Blockchain
  • Artificial Intelligence Machine Learning
  • Augmented Reality, Virtual Reality, and Mixed
    Reality
  • Big Data Analytics
  • 5G
  • Digital Twin Market By Industry
  • Aerospace Defense
  • Automotive Transportation
  • Home Commercial
  • Healthcare

6
About MarketsandMarkets MarketsandMarkets
provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will
impact 70 to 80 of worldwide companies
revenues. Currently servicing 7500 customers
worldwide including 80 of global Fortune 1000
companies as clients. Almost 75,000 top officers
across eight industries worldwide approach
MarketsandMarkets for their painpoints around
revenues decisions. Our 850 fulltime analyst and
SMEs at MarketsandMarkets are tracking global
high growth markets following the "Growth
Engagement Model GEM". The GEM aims at
proactive collaboration with the clients to
identify new opportunities, identify most
important customers, write "Attack, avoid and
defend" strategies, identify sources of
incremental revenues for both the company and its
competitors. MarketsandMarkets now coming up
with 1,500 MicroQuadrants (Positioning top
players across leaders, emerging companies,
innovators, strategic players) annually in high
growth emerging segments. MarketsandMarkets is
determined to benefit more than 10,000 companies
this year for their revenue planning and help
them take their innovations early to the market
by providing them research ahead of the
curve. MarketsandMarketss flagship competitive
intelligence and market research platform,
"Knowledgestore" connects over 200,000 markets
and entire value chains for deeper understanding
of the unmet insights along with market sizing
and forecasts of markets.
7
Contact Us
Contact Mr. Aashish Mehra MarketsandMarkets
INC. 630 Dundee Road Suite 430 Northbrook, IL
60062 USA 1-888-600-6441 For More
Info https//www.marketsandmarkets.com/PressRelea
ses/digital-twin.asp
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