North America region holds the highest market share in 2017 and Asia-Pacific is considered as the fastest growing market in the forecasted period. At country level, developed markets like US and emerging markets like China with highest population base holds a notable market share in 2017 and it is projected to grow at a gradual pace in the coming years.
Global Digital Twin Market was valued at USD 2.41 Billion in the year 2017. Global Digital Twin Market is further estimated to grow at a CAGR of 36.86% from 2017 to reach USD 15.83 Billion by the year 2023.
IBM Corporation (US), Microsoft Corporation (US), General Electric (US), SAP SE (Germany) are some of the key players in the Digital Twin Market with IBM Corporation holding a substantial market share because of its better technological advancements and global reach. Technological upgradation to address the changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
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Adoption of IoT in design and manufacturing industries
Maintaining Data Security
Technological advancements in the automotive sector
Lack of availability of technical expertise
Segmentation done on the basis of Industry Sector includes Electronics & Electrical, Manufacturing, Retail, Automotive, Aerospace and Defense, Healthcare, Energy and Utilities; of which the Manufacturing segment is expected to hold the highest market share during the forecast period.
The Automotive segment is also expected to grow at the highest CAGR during year 2017-2023.
Key Benefits for Stakeholders
Digital Twin Solution Providers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Regulatory bodies, policy makers and consumers.
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By Industry Sector
Electronics & Electrical
Aerospace and Defense
Energy and Utilities
Key Market Players
(Another brief information of 15 companies will provided in report)
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