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New report examines the digital twin market forecast to 2023

IT Market Research

The Professional Report Digital Twin Market Published by Genesis Market Insights. The Digital Twin Market Report covers in detail information of Global Strategies, market figures, Regional analysis and others. The report is easier to make a decision and can cover the required assessment and helps to drive the stronger business.

GLOBAL DIGITAL TWIN MARKET Make an Inquiry about this news 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.

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 a country level, developed markets like the U.S.

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.

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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 up-gradation 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.

Drivers:

             Adoption of IoT in design and manufacturing industries

Restraints:

             Maintaining Data Security

Opportunities:

             Technological advancements in the automotive sector

Challenges:

             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.

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The Automotive segment is also expected to grow at the highest CAGR during the year 2018-2023.

Key Benefits for Stakeholders

Digital Twin Solution Providers

Research and Consulting organization

Government bodies

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policymakers and consumers.

By Industry Sector

Electronics & Electrical

Manufacturing

Retail

Automotive

Aerospace and Defense

Healthcare

Energy and Utilities

Others

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

IBM Corporation

Microsoft Corporation

General Electric

SAP SE

Dassault Systèmes

Siemens

Bosch GmbH

Oracle Corporation

ANSYS, Inc.

AT&T

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News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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