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Synopsis
Digital Twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance.
Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
The global Digital Twins market size is expected to reach US$ 2447.8 million by 2029, growing at a CAGR of 4.6% from 2023 to 2029. The market is mainly driven by the significant applications of Digital Twins in various end use industries. The expanding demands from the Aerospace & Defense, Automotive & Transportation, Machine Manufacturing and Energy & Utilities, are propelling Digital Twins market. Parts Twin, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Product Twin segment is estimated at % CAGR for the next seven-year period.
Global digital twin key players include General Electric, PTC, Siemens etc. Global top 5 manufacturers hold a share about 65%. North America is the largest market, with a share about 53%, followed by Europe, have a share over 38 percent.In terms of product, system twin is the largest segment, with a share over 55%. And in terms of application, the largest application is machine manufacturing, followed by energy & utilities.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Digital Twins, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Digital Twins market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Digital Twins market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Digital Twins sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Digital Twins covered in this report include General Electric, PTC, Siemens, Dassault Systèmes, IBM Corporation, ANSYS, Microsoft Corporation and Oracle Corporation, etc.
The global Digital Twins market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
- General Electric
- PTC
- Siemens
- Dassault Systèmes
- IBM Corporation
- ANSYS
- Microsoft Corporation
- Oracle Corporation
Global Digital Twins market, by region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, etc.)
- Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
- South America (Brazil, etc.)
- Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Digital Twins market, Segment by Type:
- Parts Twin
- Product Twin
- Process Twin
- System Twin
Global Digital Twins market, by Application
- Aerospace & Defense
- Automotive & Transportation
- Machine Manufacturing
- Energy & Utilities
- Others
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Digital Twins companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index
1 Market Overview of Digital Twins
1.1 Digital Twins Market Overview
1.1.1 Digital Twins Product Scope
1.1.2 Digital Twins Market Status and Outlook
1.2 Global Digital Twins Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Digital Twins Market Size by Region (2018-2029)
1.4 Global Digital Twins Historic Market Size by Region (2018-2023)
1.5 Global Digital Twins Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Digital Twins Market Size (2018-2029)
1.6.1 North America Digital Twins Market Size (2018-2029)
1.6.2 Europe Digital Twins Market Size (2018-2029)
1.6.3 Asia-Pacific Digital Twins Market Size (2018-2029)
1.6.4 Latin America Digital Twins Market Size (2018-2029)
1.6.5 Middle East & Africa Digital Twins Market Size (2018-2029)
2 Digital Twins Market by Type
2.1 Introduction
2.1.1 Parts Twin
2.1.2 Product Twin
2.1.3 Process Twin
2.1.4 System Twin
2.2 Global Digital Twins Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Digital Twins Historic Market Size by Type (2018-2023)
2.2.2 Global Digital Twins Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Digital Twins Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Digital Twins Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Digital Twins Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Digital Twins Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Digital Twins Revenue Breakdown by Type (2018-2029)
3 Digital Twins Market Overview by Application
3.1 Introduction
3.1.1 Aerospace & Defense
3.1.2 Automotive & Transportation
3.1.3 Machine Manufacturing
3.1.4 Energy & Utilities
3.1.5 Others
3.2 Global Digital Twins Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Digital Twins Historic Market Size by Application (2018-2023)
3.2.2 Global Digital Twins Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Digital Twins Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Digital Twins Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Digital Twins Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Digital Twins Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Digital Twins Revenue Breakdown by Application (2018-2029)
4 Digital Twins Competition Analysis by Players
4.1 Global Digital Twins Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Digital Twins as of 2022)
4.3 Date of Key Players Enter into Digital Twins Market
4.4 Global Top Players Digital Twins Headquarters and Area Served
4.5 Key Players Digital Twins Product Solution and Service
4.6 Competitive Status
4.6.1 Digital Twins Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 General Electric
5.1.1 General Electric Profile
5.1.2 General Electric Main Business
5.1.3 General Electric Digital Twins Products, Services and Solutions
5.1.4 General Electric Digital Twins Revenue (US$ Million) & (2018-2023)
5.1.5 General Electric Recent Developments
5.2 PTC
5.2.1 PTC Profile
5.2.2 PTC Main Business
5.2.3 PTC Digital Twins Products, Services and Solutions
5.2.4 PTC Digital Twins Revenue (US$ Million) & (2018-2023)
5.2.5 PTC Recent Developments
5.3 Siemens
5.3.1 Siemens Profile
5.3.2 Siemens Main Business
5.3.3 Siemens Digital Twins Products, Services and Solutions
5.3.4 Siemens Digital Twins Revenue (US$ Million) & (2018-2023)
5.3.5 Dassault Systèmes Recent Developments
5.4 Dassault Systèmes
5.4.1 Dassault Systèmes Profile
5.4.2 Dassault Systèmes Main Business
5.4.3 Dassault Systèmes Digital Twins Products, Services and Solutions
5.4.4 Dassault Systèmes Digital Twins Revenue (US$ Million) & (2018-2023)
5.4.5 Dassault Systèmes Recent Developments
5.5 IBM Corporation
5.5.1 IBM Corporation Profile
5.5.2 IBM Corporation Main Business
5.5.3 IBM Corporation Digital Twins Products, Services and Solutions
5.5.4 IBM Corporation Digital Twins Revenue (US$ Million) & (2018-2023)
5.5.5 IBM Corporation Recent Developments
5.6 ANSYS
5.6.1 ANSYS Profile
5.6.2 ANSYS Main Business
5.6.3 ANSYS Digital Twins Products, Services and Solutions
5.6.4 ANSYS Digital Twins Revenue (US$ Million) & (2018-2023)
5.6.5 ANSYS Recent Developments
5.7 Microsoft Corporation
5.7.1 Microsoft Corporation Profile
5.7.2 Microsoft Corporation Main Business
5.7.3 Microsoft Corporation Digital Twins Products, Services and Solutions
5.7.4 Microsoft Corporation Digital Twins Revenue (US$ Million) & (2018-2023)
5.7.5 Microsoft Corporation Recent Developments
5.8 Oracle Corporation
5.8.1 Oracle Corporation Profile
5.8.2 Oracle Corporation Main Business
5.8.3 Oracle Corporation Digital Twins Products, Services and Solutions
5.8.4 Oracle Corporation Digital Twins Revenue (US$ Million) & (2018-2023)
5.8.5 Oracle Corporation Recent Developments
6 North America
6.1 North America Digital Twins Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Digital Twins Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Digital Twins Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Digital Twins Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Digital Twins Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Digital Twins Market Dynamics
11.1 Digital Twins Industry Trends
11.2 Digital Twins Market Drivers
11.3 Digital Twins Market Challenges
11.4 Digital Twins Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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