Global Digital Twin Market 2021-2025

Global Digital Twin Market 2021-2025

Technavio has been monitoring the digital twin market and it is poised to grow by $ 24.81 bn during 2021-2025 progressing at a CAGR of 39% during the forecast period. Our report on digital twin market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the industry 4.0 and industrial IoT, increase in demand for predictive maintenance and real-time data for monitoring, and need for reduced time-to-market and improved decision-making. In addition, Industry 4.0 and industrial IoT is anticipated to boost the growth of the market as well.

The digital twin market analysis includes end-user segment, deployment segment, and geographical landscapes.

Technavio's digital twin market is segmented as below:

By End-user

  • Manufacturing
  • Energy and utilities
  • Aerospace and defense
  • Automotive
  • Others
By Deployment
  • On-premise
  • Cloud
By Geographical Landscapes
  • North America
  • Europe
  • APAC
  • MEA
  • South America
This study identifies the use of AI in digital twin as one of the prime reasons driving the digital twin market growth during the next few years. Also, increasing traction in the healthcare sector and emergence of process twins will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on digital twin market covers the following areas:
  • Digital twin market sizing
  • Digital twin market forecast
  • Digital twin market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital twin market vendors that include General Electric Co., Honeywell International Inc., International Business Machines Corp., Kongsberg Gruppen ASA, Microsoft Corp., Oracle Corp., PTC Inc., SAP SE, Siemens AG, and Wipro Ltd.. Also, the digital twin market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.


  • Executive Summary
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market characteristics
    • Impact of COVID-19 on IT sector
      • Short-term impact
      • Long-term impact
      • Recovery phase
    • Value chain analysis
      • Table Value chain analysis: IT consulting and other services
      • Inputs
      • Pitching and profiling
      • Resourcing and communicating
      • Delivery and support
      • Connecting and innovating
      • Marketing and sales
      • Service
      • Support activities
      • Innovations
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025
      • Table Global - Market size and forecast 2020 - 2025 ($ million)
      • Table Global market: Year-over-year growth 2020 - 2025 (%)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis 2020 & 2025
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2020
  • Market Segmentation by End-user
    • Market segments
      • Table End user - Market share 2020-2025 (%)
    • Comparison by End user
      • Table Comparison by End user
    • Manufacturing - Market size and forecast 2020- 2025
      • Table Manufacturing - Market size and forecast 2020-2025 ($ million)
      • Table Manufacturing - Year-over-year growth 2020-2025 (%)
    • Energy and utilities - Market size and forecast 2020-2025
      • Table Energy and utilities - Market size and forecast 2020-2025 ($ million)
      • Table Energy and utilities - Year-over-year growth 2020-2025 (%)
    • Aerospace and defense - Market size and forecast 2020-2025
      • Table Aerospace and defense - Market size and forecast 2020-2025 ($ million)
      • Table Aerospace and defense - Year-over-year growth 2020-2025 (%)
    • Automotive - Market size and forecast 2020-2025
      • Table Automotive - Market size and forecast 2020-2025 ($ million)
      • Table Automotive - Year-over-year growth 2020-2025 (%)
    • Others - Market size and forecast 2020-2025
      • Table Others - Market size and forecast 2020-2025 ($ million)
      • Table Others - Year-over-year growth 2020-2025 (%)
    • Market opportunity by End user
      • Table Market opportunity by End user
  • Market Segmentation by Deployment
    • Market segments
      • Table Deployment - Market share 2020-2025 (%)
    • Comparison by Deployment
      • Table Comparison by Deployment
    • On-premise - Market size and forecast 2020-2025
      • Table On-premise - Market size and forecast 2020-2025 ($ million)
      • Table On-premise - Year-over-year growth 2020-2025 (%)
    • Cloud - Market size and forecast 2020-2025
      • Table Cloud - Market size and forecast 2020-2025 ($ million)
      • Table Cloud - Year-over-year growth 2020-2025 (%)
    • Market opportunity by Deployment
      • Table Market opportunity by Deployment
  • Customer landscape
    • Table Customer landscape
  • Geographic Landscape
    • Geographic segmentation
      • Table Market share by geography 2020-2025 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2020- 2025
      • Table North America - Market size and forecast 2020-2025 ($ million)
      • Table North America - Year-over-year growth 2020-2025 (%)
    • Europe - Market size and forecast 2020-2025
      • Table Europe - Market size and forecast 2020-2025 ($ million)
      • Table Europe - Year-over-year growth 2020-2025 (%)
    • APAC - Market size and forecast 2020-2025
      • Table APAC - Market size and forecast 2020-2025 ($ million)
      • Table APAC - Year-over-year growth 2020-2025 (%)
    • MEA - Market size and forecast 2020-2025
      • Table MEA - Market size and forecast 2020-2025 ($ million)
      • Table MEA - Year-over-year growth 2020-2025 (%)
    • South America - Market size and forecast 2020- 2025
      • Table South America - Market size and forecast 2020-2025 ($ million)
      • Table South America - Year-over-year growth 2020-2025 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity by geography
      • Table Market opportunity by geography
  • Drivers, Challenges, and Trends
    • Market drivers
      • Industry 4.0 and industrial IoT
      • Increase in demand for predictive maintenance and real-time data for monitoring
      • Need for reduced time-to-market and improved decision-making
    • Market challenges
      • High cost of deployment and complex architecture of digital twin
      • Cybersecurity for digital twin
      • Talent gap in the market
        • Table Impact of drivers and challenges
    • Market trends
      • Increasing traction in the healthcare sector
      • Emergence of process twins
      • Advent of 5G technology
  • Vendor Landscape
    • Overview
    • Vendor landscape
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
      • Table Industry risks
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Market positioning of vendors
    • General Electric Co.
      • Table General Electric Co. –Overview
      • Table General Electric Co. - Business segments
      • Table General Electric Co. - Key news
      • Table General Electric Co. - Key offerings
      • Table General Electric Co. - Segment focus
    • Honeywell International Inc.
      • Table Honeywell International Inc. –Overview
      • Table Honeywell International Inc. - Business segments
      • Table Honeywell International Inc. - Key news
      • Table Honeywell International Inc. - Key offerings
      • Table Honeywell International Inc. - Segment focus
    • International Business Machines Corp.
      • Table International Business Machines Corp. –Overview
      • Table International Business Machines Corp. - Business segments
      • Table International Business Machines Corp. - Key news
      • Table International Business Machines Corp. - Key offerings
      • Table International Business Machines Corp. - Segment focus
    • Kongsberg Gruppen ASA
      • Table Kongsberg Gruppen ASA – Overview
      • Table Kongsberg Gruppen ASA - Business segments
      • Table Kongsberg Gruppen ASA - Key news
      • Table Kongsberg Gruppen ASA - Key offerings
      • Table Kongsberg Gruppen ASA - Segment focus
    • Microsoft Corp.
      • Table Microsoft Corp. –Overview
      • Table Microsoft Corp. - Business segments
      • Table Microsoft Corp. - Key news
      • Table Microsoft Corp. - Key offerings
      • Table Microsoft Corp. - Segment focus
    • Oracle Corp.
      • Table Oracle Corp. –Overview
      • Table Oracle Corp. - Business segments
      • Table Oracle Corp. - Key offerings
      • Table Oracle Corp. - Segment focus
    • PTC Inc.
      • Table PTC Inc. –Overview
      • Table PTC Inc. - Business segments
      • Table PTC Inc. - Key news
      • Table PTC Inc. - Key offerings
      • Table PTC Inc. - Segment focus
    • SAP SE
      • Table SAP SE – Overview
      • Table SAP SE - Business segments
      • Table SAP SE - Key news
      • Table SAP SE - Key offerings
      • Table SAP SE - Segment focus
    • Siemens AG
      • Table Siemens AG – Overview
      • Table Siemens AG - Business segments
      • Table Siemens AG - Key news
      • Table Siemens AG - Key offerings
      • Table Siemens AG - Segment focus
    • Wipro Ltd.
      • Table Wipro Ltd. –Overview
      • Table Wipro Ltd. - Business segments
      • Table Wipro Ltd. - Key news
      • Table Wipro Ltd. - Key offerings
      • Table Wipro Ltd. - Segment focus
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research Methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

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