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Digital Twin Market: Global Opportunity and Trend Analysis, 2020-2035

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Overview

Our estimates suggest that the global digital twin market is likely to be worth USD 5.1 billion in 2020 and this value is projected to reach USD 115.1 billion by 2035, growing at an estimated CAGR of 23.2%. A digital twin is the digital replica of the physical entity of the product, processes, places or human. The concept of the digital twin technology was first introduced by NASA in 2010. The aforementioned organization used digital twin technology for developing a highly detailed simulation model of a spacecraft or aircraft. The simulated model was demonstrated to reproduce the physical behavior of the aircraft or spacecraft as close as possible in the virtual world. Nowadays, owing to growing penetration of IoT based technologies, digital twin is being utilized by industries, such as manufacturing, retail and healthcare, for reducing the overall operational costs and eliminating unplanned downtimes.

In addition, the recent global pandemic COVID 19 is supporting the growth of the digital twin market. For instance, the researchers at the University of Virginia’s Biocomplexity Institute have developed a digital twin simulation platform which can assist state and local governments to better anticipate the contagion’s spread. Thus, it will help governments to understand the widespread impacts of coronavirus policies based on the analysis of large data sets. Figure below presents the overall market scenario of the digital twin market for the period 2020-2035.

digital-twin

Digital twin technology, with the help of the analytics, can also provide machine and equipment health support. For instance, the analytics solutions in digital twin, provides real-time tracking and monitoring of physical assets. Our estimates suggest that the machine and equipment health application segment of this market is likely to grow at an estimated CAGR of  27.2%, during the period 2020-2030.

Further, growing technological advancements in the manufacturing sector are paving the way for adoption of digital twins. Therefore, we anticipate that the manufacturing sector is likely to capture more than one-fifth of the overall digital twin market share by 2035. The global digital twin market has been segmented into four regions, namely, North America, Europe, Asia-Pacific and the rest of the world. Currently, based on geography, North America holds the largest share of the overall digital twin market. This can be attributed to the early adoption of digital twin technology and presence of key players in this region.


A detailed, quantitative analysis of the current and future market opportunity over the period 2020-2035.The ‘Digital Twin Market, Global Opportunity and Trend Analysis, 2020-2035’ report features an extensive study of the current landscape of industry players that are offering digital twin technology. Amongst other elements, the report features:

  • A qualitative analysis of key market trends, growth drivers and constraints, and upcoming opportunity areas, within the digital twin technology market 
  • Detailed discussion on the likely impact that the recent COVID-19 pandemic is anticipated to have on the digital twin technology market.
  • Informed insights into the competitive market landscape of the market.

Contents

Table Of Contents

CHAPTER 1: PREFACE
1.1. Scope of the Report
1.2. Research Methodology
1.3. Report Assumptions

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market Overview
3.1.1. Impact of COVID-19 on the Digital Twin Market
3.2. Market Dynamics
3.2.1 Drivers
3.2.2. Restraints
3.2.3. Opportunities

CHAPTER 4: Digital Twin Market, By Application Areas
4.1 Market Overview
4.1.1 Market Size and Analysis,2020-2035
4.2 Application Design and Development
4.2.1 Market Size and Analysis,2020-2035
4.3 Machine and Equipment Health
4.3.1 Market Size and Analysis,2020-2035
4.4 Wireless Charging
4.4.1 Market Size and Analysis,2020-2035

CHAPTER 5: Digital Twin Market, By Industry Vertical
5.1 Market Overview
5.1.1 Market Size and Analysis,2020-2035
5.2 Manufacturing
5.2.1 Market Size and Analysis,2020-2035
5.3 Healthcare
5.3.1 Market Size and Analysis,2020-2035
5.4 Automotive
5.4.1 Market Size and Analysis,2020-2035
5.5 Aerospace and Defense
5.5.1 Market Size and Analysis,2020-2035
5.5 Others
5.5.1 Market Size and Analysis,2020-2035

CHAPTER 6: Digital Twin Market, By Geography
6.1 Market Overview
6.1.1 Market Size and Analysis,2020-2035
6.2 North America
6.2.1 Market Overview
6.2.2 Market Size and Analysis,2020-2035
6.2.2.1 Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.2.2.2 Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)
6.2.2.3. Market Size and Analysis, by Countries, 2020-2035 (USD Billion)

6.2.3. US
6.2.3.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.2.3.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.2.4 Canada
6.2.4.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.2.4.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion
6.3. Europe
6.3.1. Market Overview
6.3.2. Market Size and Analysis,2020-2035
6.3.2.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.3.2.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)
6.3.2.3. Market Size and Analysis, by Countries, 2020-2035 (USD Billion)

6.3.3. Norway
6.3.3.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.3.3.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.3.4. Germany
6.3.4.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.3.3.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.3.5. UK
6.3.5.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.3.5.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.3.6. Rest of Europe
6.3.6.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.3.6.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.4 APAC
6.4.1. Market Overview
6.4.2. Market Size and Analysis,2020-2035
6.4.2.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.4.2.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)
6.4.2.3. Market Size and Analysis, by Countries, 2020-2035 (USD Billion)

6.4.3. China
6.4.3.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.4.3.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.4.4. South Korea
6.4.4.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.4.4.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.4.5. Japan
6.4.5.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.4.5.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.4.6. Rest of APAC
6.4.6.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.4.6.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.5 Rest of the World
6.51. Market Overview
6.5.2. Market Size and Analysis,2020-2035
6.5.2.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.5.2.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)
6.5.2.3. Market Size and Analysis, by Countries, 2020-2035 (USD Billion)

6.5.3. Middle East
6.5.3.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.5.3.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

6.5.4. Africa
6.5.4.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.5.4.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)
6.5.5. Latin America
6.5.5.1. Market Size and Analysis, by Application Areas, 2020-2035 (USD Billion)
6.5.5.2. Market Size and Analysis, by Industry Vertical, 2020-2035 (USD Billion)

CHAPTER 8: Company Profiles

8.1 Microsoft
8.1.1 Company Overview
8.1.2 Financial Overview
8.1.3 Key Developments and Strategies

8.2 Autodesk
8.2.1 Company Overview
8.2.2 Financial Overview
8.2.3 Key Developments and Strategies

8.3 Siemens
8.3.1 Company Overview
8.3.2 Financial Overview
8.3.3 Key Developments and Strategies

8.4 GE Digital
8.4.1 Company Overview
8.4.2 Financial Overview
8.4.3 Key Developments and Strategies

8.5 Oracle
8.5.1 Company Overview
8.5.2 Financial Overview
8.5.3 Key Developments and Strategies

8.6 Aveva
8.6.1 Company Overview
8.6.2 Financial Overview
8.6.3 Key Developments and Strategies

8.7 Ansys
8.7.1 Company Overview
8.7.2 Financial Overview
8.7.3 Key Developments and Strategies

8.8 IBM
8.8.1 Company Overview
8.8.2 Financial Overview
8.8.3 Key Developments and Strategies

8.9 Dassault Systems
8.9.1 Company Overview
8.9.2 Financial Overview
8.9.3 Key Developments and Strategies

8.1 Robert Bosch
8.10.1 Company Overview
8.10.2 Financial Overview
8.10.3 Key Developments and Strategies

CHAPTER 9: Competitive Landscape

CHAPTER 10: CXO’s Perspective

List Of Figures

Figure 1. Digital Twin Market: Executive Summary
Figure 2. Digital Twin Market: Executive Summary
Figure 4. Digital Twin Market: Drivers Impact Analysis
Figure 5. Digital Twin Market: Restraints Impact Analysis
Figure 6. Digital Twin Market: Opportunities Impact Analysis
Figure 7. Digital Twin Market, by Application Areas, Share (%),2020
Figure 8. Digital Twin Market, by Product Design and Development, 2020-2035 (USD Billion)
Figure 9. Digital Twin Market, by Machine & Equipment Health Monitoring, 2020-2035(USD Billion)
Figure 10. Digital Twin Market, by Process Support and Service,2020-2035 (USD Billion)
Figure 11. Digital Twin Market, by Manufacturing,2020-2035 (USD Billion)
Figure 12. Digital Twin Market, by Healthcare,2020-2035 (USD Billion)
Figure 13. Digital twin Market, by Autmotive,2020-2035 (USD Billion)
Figure 14. Digital Twin Market, by Aerospace and Defense, 2020-2035 (USD Billion)
Figure 15. Digital Twin Market, by Others, 2020-2035 (USD Billion)
Figure 16. Digital Twin Market, by Geography, Share (%),2020
Figure 17. North America Digital Twin Market, 2020 -2035 (USD Billion)
Figure 18. US Digital Twin Market,2020-2035 (USD Billion)
Figure 19. Canada Digital Twin Market 2020-2035 (USD Billion)
Figure 20. Europe Digital Twin Market,2020-2035 (USD Billion)
Figure 21. UK Digital Twin Market,2020-2035 (USD Billion)
Figure 22. Germany Digital Twin Market,2020-2035 (USD Billion)
Figure 23. Poland Digital Twin Market,2020-2035(USD Billion)
Figure 24. Rest of Europe Digital Twin Market,2020-2035 (USD Billion)
Figure 25. Asia Pacific Digital Twin Market,2020-2035 (USD Billion)
Figure 26. India Digital Twin Market,2020-2035 (USD Billion)
Figure 27. China Digital Twin Market,2020-2035 (USD Billion)
Figure 28. Japan Digital Twin Market, 2020-2035 (USD Billion)
Figure 29. Rest of APAC Digital Twin Market,2020-2035 (USD Billion)
Figure 30. ROW Digital Twin Market,2020-2035 (USD Billion)
Figure 31. Latin America Digital Twin Market,2020-2035 ( USD Billion)
Figure 32. Middle East Digital Twin Market,2020-2035 ( USD Billion)
Figure 33. Africa Digital Twin Market,2020-2035( USD Billion)
Figure 34. Microsoft: Company Snapshot
Figure 35. Microsoft: Revenue,2017-2019 (USD Billion)
Figure 36. Microsoft: Revenue by Operating Segment,2017-2019 (%)
Figure 37. Autodesk: Company Snapshot
Figure 38. Autodesk: Revenue, 2017-2019 (USD Billion)
Figure 39. Autodesk: Revenue, by Operating Segment, 2017-2019 (%)
Figure 40. Autodesk: Revenue, by Regions, 2017-2019 (%)
Figure 41. GE Digital: Company Snapshot
Figure 42 . GE Digital: Key Developments and Strategies,2019
Figure 43. Siemens: Company Snapshot
Figure 44. Siemens: Revenue,2017-2019 (USD Billion)
Figure 45. Siemens: Revenue, by Operating System,2017-2018 (%)
Figure 46. Siemens: Revenue, by Region,2017-2018 (%)
Figure 47. Oracle: Company Snapshot
Figure 48 Oracle: Revenue,2018-2019 (USD Billion)
Figure 49. Oracle: Revenue, by Operating System,2018-2019 (%)
Figure 50. Oracle: Revenue, by Region,2018-2019 (%)
Figure 51. Aveva: Company Snapshot
Figure 52. Aveva: Revenue,2017-2019 ((£ Billion)
Figure 53. Aveva: Revenue, by Operating System,2018-2019 (%)
Figure 54. Aveva: Revenue by Region,2017-2018 (%)
Figure 55. Ansys: Company Snapshot
Figure 56 Ansys: Revenue,2018-2019 (USD Billion)
Figure 57. Ansys: Revenue, by Operating System,2018-2019 (%)
Figure 58. Ansys : Revenue, by Region,2018-2019 (%)
Figure 59 IBM: Company Snapshot
Figure 60 IBM: Revenue, 2017-2019 (USD Billion)
Figure 61. IBM: Revenue, by Operating System,2018-2019 (%)
Figure 62. IBM: Revenue, by Region,2018-2019 (%)
Figure 63. Dassault Systems: Company Snapshot
Figure 64. Dassault Systems: Revenue, by Operating System,2018-2019 (%)
Figure 65. Dassault Systems: Revenue, by Region,2018-2019 (%)
Figure 66. Robert Bosche: Company Snapshot
Figure 67. Robert Bosche : Revenue, by Operating System,2018-2019 (%)
Figure 68. Robert Bosche: Revenue, by Region,2018-2019 (%)

List Of Tables

Table 1. Digital Twin Market, by Application Areas,2020-2035 (USD Billion)
Table 2. Product Design & Development Digital Twin Market, by Region,2020-2035(USD Billion)
Table 3. Machine & Equipment Health Monitoring Digital Twin Market, by Region,2020-2035 (USD Billion)
Table 4. Process Support and Service Digital Twin Market, by Region,2020-2035 (USD Billion
Table 5. Digital Twin Market, by Industry Verticals,2020-2035 (USD Billion)
Table 6. Manufacturing Digital Twin Market, by Region,2020-2035(USD Billion)
Table 7. Healthcare Digital Twin Market, by Region,2020-2035(USD Billion)
Table 8. Ecommerce Digital Twin Market, by End User,2020-2035 (USD Billion)
Table 9. IT & Telecom Digital Twin Market, by Region,2020-2035 (USD Billion)
Table 10. Others Digital Twin Market, by Region,2020-2035 (USD Billion)
Table 11. Digital Twin Market, by Region,2020-2035 (USD Billion)
Table 12. North America Digital Twin Market, by Countries,2020-2035(USD Billion)
Table 13. North America Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 14. North America Digital Twin Market, by Industry Verticals,2020-2035 (USD Billion)
Table 15. US Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 16. US Digital Twin Market, by Industry Verticals ,2020-2035 (USD Billion)
Table 17. Canada Digital Twin Market, by Application Areas,2020-2035 (USD Billion)
Table 18. Canada Digital Twin Market, by Industry Verticals,2020-2035 (USD Billion)
Table 19. Europe Digital Twin Market, by Countries,2020-2035(USD Billion)
Table 20. Europe Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 21. Europe Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 22. UK Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 23. UK Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 24. Germany Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 25. Germany Digital Twin Market, by Industry Verticals,2020-2035 (USD Billion)
Table 26. Poland Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 27. Poland Digital Twin Market, by Industry Verticals,2020-2035 (USD Billion)
Table 28. Rest of Europe Digital Twin, Market, by Application Areas 2020-2035(USD Billion)
Table 29. Rest of Europe Digital Twin, Market, by Industry Verticals,2020-2035(USD Billion)
Table 30. Asia-Pacific Digital Twin, Market, by Countries,2020-2035 (USD Billion)
Table 31. Asia-Pacific Digital Twin, Market, by Application Areas,2020-2035 (USD Billion)
Table 32. Asia-Pacific Digital Twin, Market, by Industry Verticals,2020-2035 (USD Billion)
Table 33. China Digital Twin Market, by Application Areas,2020-2035 (USD Billion)
Table 34. China Digital Twin Market, by Industry Verticals,2020-2035 (USD Billion)
Table 35. Singapore Digital Twin Market, by Application Areas,2020-2035 (USD Billion)
Table 36. Singapore Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 37. Japan Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 38. Japan Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 39. Rest of APAC Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 40. Rest of APAC Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 41. ROW Digital Twin Market, by Countries, 2020-2035(USD Billion)
Table 42. ROW Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 43. ROW Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 44. ROW Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 45. Middle East Digital Twin Market, by Industry Verticals,2020-2035(USD Billion)
Table 46. Middle East Digital Twin Market, by Application Areas,2020-2035(USD Billion)
Table 47. Africa Digital Twin Market, by Application Areas, 2020-2035(USD Billion)
Table 48. Africa Digital Twin Market, by Industry Vertical, 2020-2035(USD Billion)
Table 49. Latin America Digital Twin Market, by Type, 2020-2035(USD Billion)
Table 50. Latin America Digital Twin Market, by End User, 2020-2035(USD Billion)
Table 51. Latin America Digital Twin Market, by Application, 2020-2035(USD Billion)
Table 52. Microsoft: Key Development and Strategies,2018-2019
Table 53. Autodesk: Key Development and Strategies, 2019
Table 54. GE DIGITAL: Key Development and Strategies, 2019
Table 55. Siemens: Key Development and Strategies, 2018-2019
Table 56. Aveva: Key Development and Strategies, 2018-2019
Table 57. Ansys: Key Development and Strategies, 2019-2020
Table 58. Dassault Systems: Key Development and Strategies, 2019
Table 59. Robert Bosche: Key Development and Strategies, 2018-2019
 

Segmentation

Application Areas

  • Product Design and Development
  • Machine and Equipment Health Monitoring
  • Process Support and Service

Industry Verticals

  • Manufacturing
  • Healthcare
  • Automotive
  • Aerospace and Defense
  • Others

Key Geographical Regions 

  • North America
  • Europe
  • Asia-Pacific
  • RoW (Latin America, Middle East and Africa)

The research covers profiles of key players that offer digital twin technology solutions:

  • Microsoft
  • Autodesk
  • GE Digital
  • Siemens
  • Oracle
  • Aveva
  • Ansys
  • IBM
  • Dassault Systems
  • Robert Bosch

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