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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 was valued at US$ 1775 million in 2023 and is anticipated to reach US$ 2447.8 million by 2030, witnessing a CAGR of 4.6% 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 Twins, 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 Twins.
Report Scope
The Digital Twins 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 Twins 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 Twins 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
Segment by Type
- Parts Twin
- Product Twin
- Process Twin
- System Twin
Segment by Application
- Aerospace & Defense
- Automotive & Transportation
- Machine Manufacturing
- Energy & Utilities
- Others
By Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Netherlands)
- Asia-Pacific (China, Japan, South Korea, China Taiwan, Southeast Asia, India)
- Latin America, Middle East & Africa (Latin America, Mexico, Brazil, Turkey)
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 Twins 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.
Index
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Digital Twins Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Parts Twin
1.2.3 Product Twin
1.2.4 Process Twin
1.2.5 System Twin
1.3 Market by Application
1.3.1 Global Digital Twins Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Aerospace & Defense
1.3.3 Automotive & Transportation
1.3.4 Machine Manufacturing
1.3.5 Energy & 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 Twins Market Perspective (2019-2030)
2.2 Digital Twins Growth Trends by Region
2.2.1 Global Digital Twins Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Digital Twins Historic Market Size by Region (2019-2024)
2.2.3 Digital Twins Forecasted Market Size by Region (2025-2030)
2.3 Digital Twins Market Dynamics
2.3.1 Digital Twins Industry Trends
2.3.2 Digital Twins Market Drivers
2.3.3 Digital Twins Market Challenges
2.3.4 Digital Twins Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Digital Twins Players by Revenue
3.1.1 Global Top Digital Twins Players by Revenue (2019-2024)
3.1.2 Global Digital Twins Revenue Market Share by Players (2019-2024)
3.2 Global Digital Twins Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Digital Twins Revenue
3.4 Global Digital Twins Market Concentration Ratio
3.4.1 Global Digital Twins Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Digital Twins Revenue in 2023
3.5 Digital Twins Key Players Head office and Area Served
3.6 Key Players Digital Twins Product Solution and Service
3.7 Date of Enter into Digital Twins Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Digital Twins Breakdown Data by Type
4.1 Global Digital Twins Historic Market Size by Type (2019-2024)
4.2 Global Digital Twins Forecasted Market Size by Type (2025-2030)
5 Digital Twins Breakdown Data by Application
5.1 Global Digital Twins Historic Market Size by Application (2019-2024)
5.2 Global Digital Twins Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Digital Twins Market Size (2019-2030)
6.2 North America Digital Twins Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Digital Twins Market Size by Country (2019-2024)
6.4 North America Digital Twins Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Digital Twins Market Size (2019-2030)
7.2 Europe Digital Twins Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Digital Twins Market Size by Country (2019-2024)
7.4 Europe Digital Twins 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 Twins Market Size (2019-2030)
8.2 Asia-Pacific Digital Twins Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Digital Twins Market Size by Region (2019-2024)
8.4 Asia-Pacific Digital Twins 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 Twins Market Size (2019-2030)
9.2 Latin America Digital Twins Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Digital Twins Market Size by Country (2019-2024)
9.4 Latin America Digital Twins Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Digital Twins Market Size (2019-2030)
10.2 Middle East & Africa Digital Twins Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Digital Twins Market Size by Country (2019-2024)
10.4 Middle East & Africa Digital Twins 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 Twins Introduction
11.1.4 General Electric Revenue in Digital Twins 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 Twins Introduction
11.2.4 PTC Revenue in Digital Twins 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 Twins Introduction
11.3.4 Siemens Revenue in Digital Twins 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 Twins Introduction
11.4.4 Dassault Systèmes Revenue in Digital Twins 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 Twins Introduction
11.5.4 IBM Corporation Revenue in Digital Twins 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 Twins Introduction
11.6.4 ANSYS Revenue in Digital Twins 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 Twins Introduction
11.7.4 Microsoft Corporation Revenue in Digital Twins 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 Twins Introduction
11.8.4 Oracle Corporation Revenue in Digital Twins Business (2019-2024)
11.8.5 Oracle Corporation 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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