Digital Twin Market Is Expected to Grow at Approx. USD 15 Billion by 2023, at 37% of CAGR Between 2017 and 2023.      


Global Digital Twin Market, By Application (Dynamic Optimization, Predictive Maintenance, Machine & Equipment Health Monitoring, Product Design & Development), By End User (Automotive, Transportation, Aerospace, Defense, Healthcare) - Forecast 2023

New York, NY -- (ReleaseWire) -- 09/13/2018 -- Market Scenario:

Major giants like General Electric, IBM Corporation and Microsoft Corporation are investing into the digital twin market due to increasing demand for digital twin solutions across various industry verticals. Increasing demand for cloud based platforms and growing popularity of internet of things are major factors driving the growth of digital twin market. General Electric has come up with a predix system software architecture which will convert any system into an intelligent system and will help in gaining insights to industrial infrastructure and operations. Rise in the demand for cost effective solutions for industrial manufacturing is another major factor fueling the growth of digital twin market. Predominant use of industrial internet of things for manufacturing and designing is one major factor driving the growth of digital twin market.

Get Report Sample:

North America region holds the largest market share of global digital twin market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for analytical tools and spatial data in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies. Increasing popularity and rise in adoption of business intelligence is one major factor responsible for driving the growth of digital twin market.

Digital twin market has been segmented on the basis of application & end user. The application segment is further bifurcated into dynamic optimization, predictive maintenance, machine & equipment health monitoring and product design & development. The machine & equipment health monitoring sub segment is further bifurcated into conditional monitoring and structural health. Digital twin technology will help in optimizing the workflow and also provide cost effective solutions for the same.

Digital twin basically is integration of machine learning, artificial intelligence and software analytics. It helps in creating a digital replica of the physical assets, systems and processes. Currently digital twin technology is extensively used for designing and repairing of airplanes and turbines. Digital twin technology has been around since 2002 and it's all because of internet of things. Digital twin technology proves to be very cost effective and hence helps in providing better and cost effective solutions for industrial manufacturing.

Browse Full Report with TOC:

Key Players:

The prominent players in digital twin market are –

-General Electric (U.S.)
-IBM Corporation (U.S.)
-Microsoft Corporation (U.S.)
-Oracle Corporation (U.S.)
-Cisco Systems, Inc. (U.S.)
-PTC, Inc. (U.S.)
-Ansys, Inc. (U.S.)
-Dassault Systemes (France)
-Siemens AG (Germany)
-Robert Bosch GmbH (Germany)

Also, Allerin Tech Pvt Ltd., Altair Engineering, Inc., Amazon Web Services, Aucotec AG, Autodesk Inc., CADFEM GmbH, Computer Science Corporation, CoSMo Company SAS, DNV GL AS, FEINGUSS BLANK GmbH, Prodea System Inc., SAP SE, Siemens AG, Sight Machine Inc., TIBCO Software Inc., Toshiba Corporation, and Virtalis Limited are few other major players in the digital twin market. These companies have not been profiled in our study, but it can be taken up as a part of customization, as per client requirements.


Digital twin market can be segmented on the basis of following:

By Application

- Dynamic Optimization
- Predictive Maintenance
- Machine & Equipment Health Monitoring
- Conditional Monitoring
- Structural Health

Product Design & Development

By End User

- Automotive & Transportation
- Aerospace & Defense
- Healthcare
- Retail
- Energy & Utilities
- Home & Commercial
- Electronics & Electrical Manufacturing
- Others

Regional Analysis:

The regional analysis of digital twin market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in digital twin market in North America is attributed to technical advancements and increasing popularity of internet of things in that region.

Free Sample:

Intended Audience

- Technology Investors
- Research/Consultancy Firms
- Original equipment manufacturers (OEMs)
- Government Bodies
- Global Digital Twin Providers
- Organizations, associations and alliances related to digital twin analytics
- Industry associations

For more information on this press release visit:

Media Relations Contact

Snehal Chaudhari
Sales Manager
Telephone: +91 8169891400
Email: Click to Email Snehal Chaudhari


Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Pin on Pinterest 

Help prevent us from putting up paywalls send us some coins:
BitCoin BTC 33yzPvrWPcTsmPVdmN1srXv6nNQbWNDgFF
Etherium ETH 0x9eA967b45c50030AD6b28eB24c7dffE36b902bAA

Terms Privacy

Cache page has gone blockchain, decryption requests can be posted here:
-----BEGIN PUBLIC KEY----- MIIBIjANBgkqhkiG9w0BAQEFAAOCAQ8AMIIBCgKCAQEAvoxo0T4CPgsFstyBtOuR 0/vrp/TxtoOxIkOqgkKbZ6uSJTH2gygTUWBAczqbUujsWPgojixfV2oLQ80zGCG4 memiFsy76peyYYVUf979+bAMDB7BEtIPbu9jatkTzZjEUDnGi7q1gs7vVidN4D4d /W5qt9DUpAWjZOX+ivYYf0VKnF9yiWj9mbsBB4qfKd8dLZsJf5fMg38f1by/56h7 wSPPiGmslhrhcFgGs6RcZxV1Xu1nzLEewW9CvVt1QiIe93ogM5sGvVZM1X4jfNmS a3MV5xysBU6EP6Zz96NRSEnQt5n+uLlNra+G1rsPM85VpnwfjO+2W9/0BB5oOL4P kwIDAQAB -----END PUBLIC KEY----- -----BEGIN PRIVATE KEY----- MIIEvQIBADANBgkqhkiG9w0BAQEFAASCBKcwggSjAgEAAoIBAQC+jGjRPgI+CwWy 3IG065HT++un9PG2g7EiQ6qCQptnq5IlMfaDKBNRYEBzOptS6OxY+CiOLF9XagtD zTMYIbiZ6aIWzLvql7JhhVR/3v35sAwMHsES0g9u72Nq2RPNmMRQOcaLurWCzu9W J03gPh39bmq30NSkBaNk5f6K9hh/RUqcX3KJaP2ZuwEHip8p3x0tmwl/l8yDfx/V vL/nqHvBI8+IaayWGuFwWAazpFxnFXVe7WfMsR7Bb0K9W3VCIh73eiAzmwa9VkzV fiN82ZJrcxXnHKwFToQ/pnP3o1FISdC3mf64uU2tr4bWuw8zzlWmfB+M77Zb3/QE Hmg4vg+TAgMBAAECggEAOSQYBq9msr5RbiqsBtohuAUyzQIqPgZN5y2Ng1SAD92m jNrnxrsM1/laOnPXwkwxHBkG6GOsD6WwTRvK97CdECK8xcONkrL8/juidFolpWvC oRvT4FX35NeK467HPn9SV5CL1rkd12VA5oAQ3W8jRS2IeSj5q1o5fnduFrPn8roK xd233HF3WcscvSChT12/n6Sz+e02Gar5pE/Yr1VHRknSR3+bStxutUz857a472oN k9Rgr0YG2Ir6fo9GsUERCpmXs4ZNzGvVtyzNkm6vd6ChiI68MzXF3OhLWtC4vk2l NtB4wPnsnI5BWjpQldlyOiTilBovrZW0R5c440yzUQKBgQDxDiV3JHP2JhV8iWQx YFmhjB0mkgbrq+AU975XMK1IVJXfWLYqqLFN/2Hdli4zOGp4KGu6v2DNWMrDoHkr HZjSo5MDm1FXsSALx0AyBl56wgBz8mUMBDfHQG54liDgWt6naNynr1ghV9uZ0kFq 4rIRNqgm6+EQU6qKG6JaGH5qqQKBgQDKXKf6JEq0LFK6+jfMwoM+GppubaKX4p09 ptyD8yYZwWQ8DwHmlhOfexLeAtQH4tSozlM+n0LE99BKGl93WVwiFrlznrxSR7Ta H8FTplXC3yBsZ1EJD0ZE6halHwzFHTgNub1BIlQdDKzwspJuynXR8ZDGD/ayVONC rtncuX3p2wKBgAvxZnvLq48jfecIq5Uir+4oEf2qOHuOrXB8gcqyF7PAtRg2vffJ GdfCcmfXG/zfq66+WfALsVEbOBiPJ9GyCrNM9Wi1Vkdg+DR9L7oKxL2SRRF5jfYV c2oE0DRbQ8+50NQ8hsosDtLAFpo9Z45TIv1lVtlu0FzNuGJVUirikcjZAoGAJZ/O l4KR5Sfshdkp8MclkbFujyORPH4k0CarD1lw9w7u7P+5Ub8LjPZcDq0l8QVqlqwt 7BG+X1LYBj8bCtyxdaEV//o+d2nfpUKMNlpRzbagl6cp+O4/GWcQqMi6HhgNqPek yWxxiSknKmV5NmIsP8mTKlAjhQqlamuKFDDkyUsCgYEAw4W6weOXzLZJLS573jmk 8fG9XFqtxC2TMZwlZ8EfRKYNREeM94UA6As1xRiW6bFLAq6AoBTisLzJ4Y0sotO4 RGlhsc5ngAGP8AlZh89v1v2s+mtoLHZSxLGqVhZqPPxpJITyxkNGmuDIWaT2PVYi ScQMe7F9KuzX1Rg7YoCzXL8= -----END PRIVATE KEY-----