
India Digital Twin Market, By Enterprise Size (Large Enterprises, Small & Medium-sized Enterprises (SMEs)); By Application (Product Design & Development, Predictive Maintenance, Business Optimization, Performance Monitoring, Inventory Management, Others);
Description
India Digital Twin Market, By Enterprise Size (Large Enterprises, Small & Medium-sized Enterprises (SMEs)); By Application (Product Design & Development, Predictive Maintenance, Business Optimization, Performance Monitoring, Inventory Management, Others); By Industry (Manufacturing, Agriculture, Automotive & Transport, Energy & Utilities, Healthcare & Life Sciences, Residential & Commercial, Retail & Consumer Goods, Aerospace, Telecommunication, Others); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
India Digital Twin Market Size Exploding Almost 30X to Touch USD Whopping USD 77 Billion by 2029
The India digital twin market is gaining traction because of the increasing emphasis on digital twin in manufacturing industries and a growing focus on predictive maintenance.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India digital twin market size at USD 2.59 billion in 2022. During the forecast period between 2023 and 2029, the India digital twin market size is projected to grow at a robust CAGR of 62.3% reaching a value of USD 76.67 billion by 2029. The increasing adoption of digital twin technology along with cutting-edge advancements like cloud computing, IoT, and artificial intelligence into niche industries including manufacturing and aerospace are key growth factors for the India digital twin market. It is also projected that the implementation of 5G and the increasing automation and digitization of manufacturing facilities would offer market participants in digital twins significant growth potential.
India Digital Twin Market – Overview
According to the definition by IBM, “a digital twin is a virtual model designed to accurately reflect a physical object.” In essence, a digital twin is computer software that simulates how a process or product would work using data from the real world. IoT sensors are frequently used as the physical links between an object and its twin, and a developed IoT implementation is frequently a need for digital twins. Digital twins enable increased operational efficiency due to more accurate data and quicker, and more efficient production.
India Digital Twin Market – By Application
Based on application, the India digital twin market is segmented into product design & development, predictive maintenance, business optimization, performance monitoring, inventory management, and others. The product design & development segment holds the largest share in the India digital twin market. Data from models from earlier generations and the new idea are combined using a digital twin in their respective digital formats. In addition, twinning makes it possible for stakeholders, including product designers and end users, to communicate effectively.
Impact of COVID-19 on the India Digital Twin Market
The COVID-19 pandemic offered tremendous growth opportunities to the India digital twin market. The imposition of the lockdown in the country disrupted the major end-user industries of digital twin including automotive, aerospace, and manufacturing, which directly impacted the market growth. The digital twin market, however, started to recover significantly as various businesses started pushing toward automation and virtualization of both products and processes as the number of COVID-19 cases started to decline and limits were eased.
Competitive Landscape
Major players operating in the India digital twin market include NSYS Inc., Cal-Tek SRL, Cityzenith Inc., General Electric Company, IBM Corporation, Lanner Group Limited (Royal Haskoning DHV), Mevea Ltd, Microsoft Corporation, Rescale Inc., and SAP SE.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the India Digital Twin Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Digital Twin Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
200 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. India Digital Twin Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increasing Emphasis on Digital Twin in Manufacturing Industries
- 3.2.1.2. Growing Focus on Predictive Maintenance
- 3.2.2. Restraints
- 3.2.2.1. High Investments Associated with Implementation of Digital Twin Technology
- 3.2.3. Opportunities
- 3.2.3.1. Increasing Adoption of Industry 4.0 Principles
- 3.2.4. Challenges
- 3.2.4.1. Lack of Skilled Workforce
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. India Digital Twin Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Billion)
- 4.2. Market Share & Forecast
- 4.2.1. By Enterprise Size
- 4.2.1.1. Large Enterprises
- 4.2.1.2. Small and Medium-sized Enterprises (SMEs)
- 4.2.2. By Application
- 4.2.2.1. Product Design & Development
- 4.2.2.2. Predictive Maintenance
- 4.2.2.3. Business Optimization
- 4.2.2.4. Performance Monitoring
- 4.2.2.5. Inventory Management
- 4.2.2.6. Others
- 4.2.3. By Industry
- 4.2.3.1. Manufacturing
- 4.2.3.2. Agriculture
- 4.2.3.3. Automotive & Transport
- 4.2.3.4. Energy & Utilities
- 4.2.3.5. Healthcare & Life Sciences
- 4.2.3.6. Residential & Commercial
- 4.2.3.7. Retail & Consumer Goods
- 4.2.3.8. Aerospace
- 4.2.3.9. Telecommunication
- 4.2.3.10. Others
- 4.2.4. By Region
- 4.2.4.1. North India
- 4.2.4.2. South India
- 4.2.4.3. East India
- 4.2.4.4. West India
- 5. North India Digital Twin Market
- 5.1. Market Size & Forecast, 2019–2029
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Enterprise
- 5.2.2. By Application
- 5.2.3. By Industry
- 6. South India Digital Twin Market
- 6.1. Market Size & Forecast, 2019–2029
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Enterprise
- 6.2.2. By Application
- 6.2.3. By Industry
- 7. East India Digital Twin Market
- 7.1. Market Size & Forecast, 2019–2029
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Enterprise
- 7.2.2. By Application
- 7.2.3. By Industry
- 8. West India Digital Twin Market
- 8.1. Market Size & Forecast, 2019–2029
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Enterprise
- 8.2.2. By Application
- 8.2.3. By Industry
- 9. Competitive Landscape
- 9.1. List of Key Players and Their Offerings
- 9.2. India Digital Twin Company Market Share Analysis, 2022
- 9.3. Competitive Benchmarking, By Operating Parameters
- 9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 10. Impact of Covid-19 on India Digital Twin Market
- 11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 11.1. NSYS Inc.
- 11.2. Cal-Tek SRL
- 11.3. Cityzenith Inc.
- 11.4. General Electric Company
- 11.5. IBM Corporation
- 11.6. Lanner Group Limited (Royal Haskoning DHV)
- 11.7. Mevea Ltd
- 11.8. Microsoft Corporation
- 11.9. Rescale Inc.
- 11.10. SAP SE
- 11.11. Other Prominent Players
- 12. Key Strategic Recommendations
- 13. Research Methodology
- 13.1. Qualitative Research
- 13.1.1. Primary & Secondary Research
- 13.2. Quantitative Research
- 13.3.Market Breakdown & Data Triangulation
- 13.3.1.Secondary Research
- 13.3.2.Primary Research
- 13.4.Breakdown of Primary Research Respondents, By Region
- 13.5.Assumptions & Limitations
- *Financial information of case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 India Digital Twin Segmentation
- Figure 2 India Digital Twin Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Figure 5 India Digital Twin Market Share, By Enterprise Size, By Value, 2019–2029
- Figure 6 India Digital Twin Market Share, By Application, By Value, 2019–2029
- Figure 7 India Digital Twin Market Share, By Industry, By Value, 2019–2029
- Figure 8 North India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Figure 9 North India Digital Twin Market Share, By Enterprise Size, By Value, 2019–2029
- Figure 10 North India Digital Twin Market Share, By Application, By Value, 2019–2029
- Figure 11 North India Digital Twin Market Share, By Industry, By Value, 2019–2029
- Figure 12 South India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Figure 13 South India Digital Twin Market Share, By Enterprise Size, By Value, 2019–2029
- Figure 14 South India Digital Twin Market Share, By Application, By Value, 2019–2029
- Figure 15 South India Digital Twin Market Share, By Industry, By Value, 2019–2029
- Figure 16 East India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Figure 17 East India Digital Twin Market Share, By Enterprise Size, By Value, 2019–2029
- Figure 18 East India Digital Twin Market Share, By Application, By Value, 2019–2029
- Figure 19 East India Digital Twin Market Share, By Industry, By Value, 2019–2029
- Figure 20 West India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Figure 21 West India Digital Twin Market Share, By Enterprise Size, By Value, 2019–2029
- Figure 22 West India Digital Twin Market Share, By Application, By Value, 2019–2029
- Figure 23 West India Digital Twin Market Share, By Industry, By Value, 2019–2029
- List of Tables
- Table 1 India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Table 2 India Digital Twin Market Size, By Enterprise Size, By Value, 2019–2029
- Table 3 India Digital Twin Market Size, By Application, By Value, 2019–2029
- Table 4 India Digital Twin Market Size, By Industry, By Value, 2019–2029
- Table 5 North India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Table 6 North India Digital Twin Market Size, By Enterprise Size, By Value, 2019–2029
- Table 7 North India Digital Twin Market Size, By Application, By Value, 2019–2029
- Table 8 North India Digital Twin Market Size, By Industry, By Value, 2019–2029
- Table 9 South India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Table 10 South India Digital Twin Market Size, By Enterprise Size, By Value, 2019–2029
- Table 11 South India Digital Twin Market Size, By Application, By Value, 2019–2029
- Table 12 South India Digital Twin Market Size, By Industry, By Value, 2019–2029
- Table 13 East India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Table 14 East India Digital Twin Market Size, By Enterprise Size, By Value, 2019–2029
- Table 15 East India Digital Twin Market Size, By Application, By Value, 2019–2029
- Table 16 East India Digital Twin Market Size, By Industry, By Value, 2019–2029
- Table 17 West India Digital Twin Market Size, By Value (USD Billion), 2019–2029
- Table 18 West India Digital Twin Market Size, By Enterprise Size, By Value, 2019–2029
- Table 19 West India Digital Twin Market Size, By Application, By Value, 2019–2029
- Table 20 West India Digital Twin Market Size, By Industry, By Value, 2019–2029
- Table 21 NSYS Inc. Company Overview
- Table 22 NSYS Inc. Financial Overview
- Table 23 Cal-Tek SRL Company Overview
- Table 24 Cal-Tek SRL Financial Overview
- Table 25 Cityzenith Inc. Company Overview
- Table 26 Cityzenith Inc. Financial Overview
- Table 27 General Electric Company: Company Overview
- Table 28 General Electric Company Financial Overview
- Table 29 IBM Corporation Company Overview
- Table 30 IBM Corporation Financial Overview
- Table 31 Lanner Group Limited (Royal Haskoning DHV) Company Overview
- Table 32 Lanner Group Limited (Royal Haskoning DHV) Financial Overview
- Table 33 Mevea Ltd Company Overview
- Table 34 Mevea Ltd Financial Overview
- Table 35 Microsoft Corporation Company Overview
- Table 36 Microsoft Corporation Financial Overview
- Table 37 Rescale Inc. Company Overview
- Table 38 Rescale Inc. Financial Overview
- Table 39 SAP SE Company Overview
- Table 40 SAP SE Financial Overview
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