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Digital Twin Market by End User (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Electronics & Electricals/Machine Manufacturing, Energy & Utilities, Healthcare, Retail & Consumer Goods), and Geography - Forecast to 2023

Digital Twin Market by End User (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Electronics & Electricals/Machine Manufacturing, Energy & Utilities, Healthcare, Retail & Consumer Goods), and Geography - Forecast to 2023

“The digital twin market is likely to grow at a CAGR of 37.87% during the forecast period”
The digital twin market is expected to be worth USD 15.66 billion by 2023, at a CAGR of 37.87% during the forecast period. The growth of the market is driven by various factors such as growing adoption of Internet of things (IoT) by various end user industries and reduction in manufacturing process time and cost. However, the risks associated with data security due to the use of IoT and cloud platforms is one of the factors restraining the market growth.

“The digital twin market for other industries including materials and chemicals, and agriculture would witness the highest CAGR during the forecast period”
The digital twin market for other industries comprising materials and chemicals, and agriculture is expected to grow at the highest CAGR between 2017 and 2023. The growing adoption of new technologies for digitalization in product development, which substantially enhances the operational efficiency, boosts the growth of digital twin market for other industries and is likely to contribute to the fastest growth of the market for this segment.

”The market in APAC is expected to grow at the highest CAGR during the forecast period”
APAC held the largest share of the overall digital twin market in 2016, and the market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The growth of digital twin market in APAC is driven by the growing adoption of IoT for industrial applications in developing countries such as China, India, and Japan. Also, the increasing number of industries in this region leads to the growing demand for digital twins for improving the efficiency of product manufacturing.

Given below is the breakdown of the profile of the primary participants in terms of different parameters considered:
• By Company Type: Tier 1 = 25%, Tier 2 = 45%, and Tier 3 = 30%
• By Designation: C-Level = 50%, D-Level = 32%, and Others = 18%
• By Region: Americas = 32%, Europe = 30%, APAC = 24%, and RoW = 14%.

The key players operating in digital twin market include General Electric (US), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), and PTC, Inc. (US), ANSYS, Inc. (US), Dassault Systèmes (France), and Siemens AG (Germany).

Research Coverage
This report on the digital twin market segments it on the basis of end user and geography. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 main regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to Buy the Report:
• This report includes the market size estimated in terms of value (in USD), segmented on the basis of end user and geography.
• Major drivers, restraints, opportunities and, challenges for the digital twin market have been provided in detail in this report.
• The report includes illustrative segmentation, analysis, and forecast of the digital twin market based on its segments and subsegments.
• The report includes proprietary microquadrant framework, which analyzes market players on various parameters within the broad categories of business and product strategy.


  • INTRODUCTION
    • OBJECTIVES OF STUDY
    • DEFINITION
    • SCOPE OF STUDY
      • MARKETS COVERED
      • YEARS CONSIDERED FOR STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE GROWTH OPPORTUNITIES IN DIGITAL TWIN MARKET
    • DIGITAL TWIN MARKET, BY END USER
    • DIGITAL TWIN MARKET IN APAC, BY COUNTRY AND END-USER 2016
    • DIGITAL TWIN MARKET: GEOGRAPHIC SNAPSHOT
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • EVOLUTION
    • VALUE CHAIN ANALYSIS
    • SUPPORTING TECHNOLOGIES
      • INDUSTRIAL INTERNET OF THINGS (IIOT) AND INDUSTRY 4.0
      • DATA ANALYTICS
      • ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING
      • AUGMENTED REALITY, VIRTUAL REALITY, AND MIXED REALITY
  • APPLICATIONS OF DIGITAL TWINS
    • INTRODUCTION
    • PRODUCT DESIGN AND DEVELOPMENT
    • MACHINE AND EQUIPMENT HEALTH MONITORING
      • STRUCTURAL HEALTH
      • CONDITIONAL MONITORING
    • PREDICTIVE MAINTENANCE
    • DYNAMIC OPTIMIZATION
  • DIGITAL TWIN MARKET, BY END USER
    • INTRODUCTION
      • Table DIGITAL TWIN MARKET, BY END USER, 2016-2023 (USD MILLION)
    • AEROSPACE AND DEFENSE
      • Table DIGITAL TWIN MARKET FOR AEROSPACE AND DEFENSE, BY REGION, 2016-2023 (USD MILLION)
      • AIRCRAFT ENGINE DESIGN AND PRODUCTION
      • SPACE-BASED MONITORING
    • AUTOMOTIVE AND TRANSPORTATION
      • Table DIGITAL TWIN MARKET AUTOMOTIVE AND TRANSPORTATION, BY REGION, 2016-2023 (USD MILLION)
      • VEHICLE DESIGNING AND SIMULATION
      • SHIP CONTROL SYSTEMS
      • FLEET MANAGEMENT
    • HOME AND COMMERCIAL
      • Table DIGITAL TWIN MARKET FOR HOME AND COMMERCIAL, BY REGION, 2016-2023 (USD MILLION)
      • ENTERPRISE INFRASTRUCTURE MANAGEMENT
      • WASTE MANAGEMENT
      • HOME AUTOMATION
    • ELECTRONICS & ELECTRICAL/MACHINE MANUFACTURING
      • Table DIGITAL TWIN MARKET FOR ELECTRONICS AND ELECTRICAL/MACHINE MANUFACTURING, BY REGION, 2016-2023 (USD MILLION)
    • HEALTHCARE
      • Table DIGITAL TWIN MARKET FOR HEALTHCARE, BY REGION, 2016-2023 (USD MILLION)
      • MEDICAL DEVICE SIMULATION
      • PATIENT MONITORING
    • ENERGY AND UTILITIES
      • Table DIGITAL TWIN MARKET FOR ENERGY AND UTILITIES, BY REGION, 2016-2023 (USD MILLION)
      • WIND TURBINES
      • GAS TURBINES
      • POWER INFRASTRUCTURE
    • RETAIL AND CONSUMER GOODS
      • Table DIGITAL TWIN MARKET FOR RETAIL AND CONSUMER GOODS, BY REGION, 2016-2023 (USD MILLION)
    • OTHERS
      • Table DIGITAL TWINS MARKET FOR OTHER, BY REGION, 2016-2023 (USD MILLION)
      • CHEMICALS AND MATERIALS
      • AGRICULTURE
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table DIGITAL TWINS MARKET, BY REGION, 2016-2023 (USD BILLION)
    • NORTH AMERICA
      • Table NORTH AMERICA DIGITAL TWIN MARKET SIZE, BY END USER, 2016-2023 (USD MILLION)
      • Table DIGITAL TWIN MARKET IN NORTH AMERICA, BY COUNTRY, 2016-2023 (USD MILLION)
      • US
        • Table DIGITAL TWIN MARKET IN US, BY END USER, 2016-2023 (USD MILLION)
      • CANADA
        • Table DIGITAL TWIN MARKET IN CANADA, BY END USER, 2016-2023 (USD MILLION)
      • MEXICO
        • Table MEXICO DIGITAL TWIN MARKET SIZE, BY END USER 2016-2023 (USD MILLION)
    • EUROPE
      • Table DIGITAL TWIN MARKET IN EUROPE, BY END USER, 2016-2023 (USD MILLION)
      • Table DIGITAL TWINS MARKET IN EUROPE, BY COUNTRY, 2016-2023 (USD MILLION)
      • GERMANY
        • Table DIGITAL TWIN MARKET IN GERMANY, BY END USER, 2016-2023 (USD MILLION)
      • UK
        • Table DIGITAL TWIN MARKET IN UK, BY END USER, 2016-2023 (USD MILLION)
      • FRANCE
        • Table DIGITAL TWIN MARKET IN FRANCE, BY END USER, 2016-2023 (USD MILLION)
      • REST OF EUROPE
        • Table DIGITAL TWIN MARKET IN REST OF EUROPE, BY END USER, 2016-2023 (USD MILLION)
    • APAC
      • Table DIGITAL TWIN MARKET IN APAC, BY END USER, 2016-2023 (USD MILLION)
      • Table DIGITAL TWIN MARKET IN APAC, BY COUNTRY, 2016-2023 (USD MILLION)
      • CHINA
        • Table DIGITAL TWIN MARKET IN CHINA, BY END USER, 2016-2023 (USD MILLION)
      • JAPAN
        • Table DIGITAL TWIN MARKET IN JAPAN, BY END USER, 2016-2023 (USD MILLION)
      • INDIA
        • Table DIGITAL TWIN MARKET IN INDIA, BY END USER, 2016-2023 (USD MILLION)
      • REST OF APAC
        • Table DIGITAL TWIN MARKET IN REST OF APAC, BY END USER, 2016-2023 (USD MILLION)
    • ROW
      • Table DIGITAL TWIN MARKET IN ROW, BY END USER, 2016-2023 (USD MILLION)
      • Table DIGITAL TWIN MARKET IN ROW, BY REGION, 2016-2023 (USD MILLION)
      • MIDDLE EAST AND AFRICA
      • SOUTH AMERICA
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • MARKET RANKING ANALYSIS
      • Table RANKING OF TOP 5 MARKET PLAYERS, 2016
    • COMPETITIVE SITUATIONS AND TRENDS
    • COMPETITIVE LEADERSHIP MAPPING
      • VISIONARY LEADERS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
    • COMPETITIVE BENCHMARKING
      • STRENGTH OF PRODUCT PORTFOLIO (25 COMPANIES)
      • BUSINESS STRATEGY EXCELLENCE (25 COMPANIES)
  • COMPANY PROFILE
    • INTRODUCTION
    • GENERAL ELECTRIC
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • IBM CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • SIEMENS AG
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • PTC, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • MICROSOFT CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • ANSYS, INC.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • SAP SE
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • ORACLE CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • ROBERT BOSCH GMBH
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • DASSAULT SYSTÈMES
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
  • KEY INNOVATORS
    • DNV GL AS
      • OVERVIEW
      • STRATEGIES ADOPTED BY COMPANY IN DIGITAL TWIN MARKET
    • SIGHT MACHINE INC.
      • OVERVIEW
      • STRATEGIES ADOPTED BY COMPANY IN DIGITAL TWIN MARKET
    • TIBCO SOFTWARE INC.
      • OVERVIEW
      • STRATEGIES ADOPTED BY COMPANY IN DIGITAL TWIN MARKET
    • AUCOTEC AG
      • OVERVIEW
      • STRATEGIES ADOPTED BY COMPANY IN DIGITAL TWIN MARKET
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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