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Global Digital Twin Market Research Report 2024
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 Twin market was valued at US$ 1775 million in 2023 and is anticipated to reach US$ 4133.3 million by 2030, witnessing a CAGR of 12.6% during the forecast period 2024-2030.
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.
This report aims to provide a comprehensive presentation of the global market for Digital Twin, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Digital Twin.
Report Scope
The Digital Twin market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Digital Twin market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Digital Twin companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group
Segment by Type
System Twin
Process Twin
Asset Twin
Segment by Application
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. 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 2: Introduces executive summary of global market size, regional market size, 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 3: Detailed analysis of Digital Twin companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: 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 5: 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 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
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 Twin market was valued at US$ 1775 million in 2023 and is anticipated to reach US$ 4133.3 million by 2030, witnessing a CAGR of 12.6% during the forecast period 2024-2030.
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.
This report aims to provide a comprehensive presentation of the global market for Digital Twin, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Digital Twin.
Report Scope
The Digital Twin market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Digital Twin market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Digital Twin companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group
Segment by Type
System Twin
Process Twin
Asset Twin
Segment by Application
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. 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 2: Introduces executive summary of global market size, regional market size, 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 3: Detailed analysis of Digital Twin companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: 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 5: 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 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Digital Twin Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 System Twin
1.2.3 Process Twin
1.2.4 Asset Twin
1.3 Market by Application
1.3.1 Global Digital Twin Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Aerospace and Defense
1.3.3 Automotive and Transportation
1.3.4 Machine Manufacturing
1.3.5 Energy and Utilities
1.3.6 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Digital Twin Market Perspective (2019-2030)
2.2 Digital Twin Growth Trends by Region
2.2.1 Global Digital Twin Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Digital Twin Historic Market Size by Region (2019-2024)
2.2.3 Digital Twin Forecasted Market Size by Region (2025-2030)
2.3 Digital Twin Market Dynamics
2.3.1 Digital Twin Industry Trends
2.3.2 Digital Twin Market Drivers
2.3.3 Digital Twin Market Challenges
2.3.4 Digital Twin Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Digital Twin Players by Revenue
3.1.1 Global Top Digital Twin Players by Revenue (2019-2024)
3.1.2 Global Digital Twin Revenue Market Share by Players (2019-2024)
3.2 Global Digital Twin Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Digital Twin Revenue
3.4 Global Digital Twin Market Concentration Ratio
3.4.1 Global Digital Twin Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Digital Twin Revenue in 2023
3.5 Digital Twin Key Players Head office and Area Served
3.6 Key Players Digital Twin Product Solution and Service
3.7 Date of Enter into Digital Twin Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Digital Twin Breakdown Data by Type
4.1 Global Digital Twin Historic Market Size by Type (2019-2024)
4.2 Global Digital Twin Forecasted Market Size by Type (2025-2030)
5 Digital Twin Breakdown Data by Application
5.1 Global Digital Twin Historic Market Size by Application (2019-2024)
5.2 Global Digital Twin Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Digital Twin Market Size (2019-2030)
6.2 North America Digital Twin Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Digital Twin Market Size by Country (2019-2024)
6.4 North America Digital Twin Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Digital Twin Market Size (2019-2030)
7.2 Europe Digital Twin Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Digital Twin Market Size by Country (2019-2024)
7.4 Europe Digital Twin Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Digital Twin Market Size (2019-2030)
8.2 Asia-Pacific Digital Twin Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Digital Twin Market Size by Region (2019-2024)
8.4 Asia-Pacific Digital Twin Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Digital Twin Market Size (2019-2030)
9.2 Latin America Digital Twin Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Digital Twin Market Size by Country (2019-2024)
9.4 Latin America Digital Twin Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Digital Twin Market Size (2019-2030)
10.2 Middle East & Africa Digital Twin Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Digital Twin Market Size by Country (2019-2024)
10.4 Middle East & Africa Digital Twin Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 General Electric
11.1.1 General Electric Company Detail
11.1.2 General Electric Business Overview
11.1.3 General Electric Digital Twin Introduction
11.1.4 General Electric Revenue in Digital Twin Business (2019-2024)
11.1.5 General Electric Recent Development
11.2 PTC
11.2.1 PTC Company Detail
11.2.2 PTC Business Overview
11.2.3 PTC Digital Twin Introduction
11.2.4 PTC Revenue in Digital Twin Business (2019-2024)
11.2.5 PTC Recent Development
11.3 Siemens
11.3.1 Siemens Company Detail
11.3.2 Siemens Business Overview
11.3.3 Siemens Digital Twin Introduction
11.3.4 Siemens Revenue in Digital Twin Business (2019-2024)
11.3.5 Siemens Recent Development
11.4 Dassault Systèmes
11.4.1 Dassault Systèmes Company Detail
11.4.2 Dassault Systèmes Business Overview
11.4.3 Dassault Systèmes Digital Twin Introduction
11.4.4 Dassault Systèmes Revenue in Digital Twin Business (2019-2024)
11.4.5 Dassault Systèmes Recent Development
11.5 IBM Corporation
11.5.1 IBM Corporation Company Detail
11.5.2 IBM Corporation Business Overview
11.5.3 IBM Corporation Digital Twin Introduction
11.5.4 IBM Corporation Revenue in Digital Twin Business (2019-2024)
11.5.5 IBM Corporation Recent Development
11.6 ANSYS
11.6.1 ANSYS Company Detail
11.6.2 ANSYS Business Overview
11.6.3 ANSYS Digital Twin Introduction
11.6.4 ANSYS Revenue in Digital Twin Business (2019-2024)
11.6.5 ANSYS Recent Development
11.7 Microsoft Corporation
11.7.1 Microsoft Corporation Company Detail
11.7.2 Microsoft Corporation Business Overview
11.7.3 Microsoft Corporation Digital Twin Introduction
11.7.4 Microsoft Corporation Revenue in Digital Twin Business (2019-2024)
11.7.5 Microsoft Corporation Recent Development
11.8 Oracle Corporation
11.8.1 Oracle Corporation Company Detail
11.8.2 Oracle Corporation Business Overview
11.8.3 Oracle Corporation Digital Twin Introduction
11.8.4 Oracle Corporation Revenue in Digital Twin Business (2019-2024)
11.8.5 Oracle Corporation Recent Development
11.9 Accenture (Mackevision)
11.9.1 Accenture (Mackevision) Company Detail
11.9.2 Accenture (Mackevision) Business Overview
11.9.3 Accenture (Mackevision) Digital Twin Introduction
11.9.4 Accenture (Mackevision) Revenue in Digital Twin Business (2019-2024)
11.9.5 Accenture (Mackevision) Recent Development
11.10 SAP
11.10.1 SAP Company Detail
11.10.2 SAP Business Overview
11.10.3 SAP Digital Twin Introduction
11.10.4 SAP Revenue in Digital Twin Business (2019-2024)
11.10.5 SAP Recent Development
11.11 AVEVA Group
11.11.1 AVEVA Group Company Detail
11.11.2 AVEVA Group Business Overview
11.11.3 AVEVA Group Digital Twin Introduction
11.11.4 AVEVA Group Revenue in Digital Twin Business (2019-2024)
11.11.5 AVEVA Group Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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