Rapid Adoption of Digital Twins Technology in Smart Cities and Automotive Sectors Spurs Market to 2030

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Aug 09, 2023, 11:30 ET

DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "Digital Twins: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Digital Twins estimated at US$9.1 Billion in the year 2022, is projected to reach a revised size of US$126.6 Billion by 2030, growing at a CAGR of 39% over the analysis period 2022-2030.

System, one of the segments analyzed in the report, is projected to record a 38.5% CAGR and reach US$62.1 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Product segment is readjusted to a revised 40.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.5 Billion, While China is Forecast to Grow at 52.2% CAGR

The Digital Twins market in the U.S. is estimated at US$3.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$32.5 Billion by the year 2030 trailing a CAGR of 52.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 32.2% and 38.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 33.7% CAGR.

Select Competitors (Total 208 Featured) -

ABB Ltd.
Accenture plc
ANSYS, Inc.
AT&T Inc.
AVEVA Group plc
Bentley Systems, Incorporated
Bosch.IO GmbH
Cal-Tek Srl
Capgemini SE
Cityzenith
Dassault Systemes SE
General Electric (GE Digital)
Hexagon AB
Honeywell International Inc.
IBM Corporation
Lanner Group Limited
Mevea Ltd.
Microsoft Corporation
Oracle
PTC Inc.
Rescale, Inc.
Rockwell Automation, Inc.
SAP SE
Siemens AG
TIBCO Software Inc.
XenonStack

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy in 2021
World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
Intriguing Opportunities Ahead for Digital Twin Technology
How Digital Twin Technology Can Help Businesses to Gain a Competitive Edge
Digital Twin Technology Trends Big in Built Environment amid COVID-19
Influencer Market Insights
Digital Twins - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Digital Twin Technology: A Prelude
Interoperabilty: Critical to Widespread Use of the Technology
DTs Aid in Smart Innovation and Help Achieve Sustainability
Market Outlook
Recent Industry Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Digital Twins Emerge as an Important Technology for Digital Transformation
Digital Transformation by Industry: 2020
Benefits of Adopting Digital Transformation
Global Digital Transformation Growth (In %)
Digital Twins: Adding New Dimensions to Product Lifecycle Management
Digital Twins: A Key Trend in Industry 4.0
Review of Key Application Areas
Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
COVID-19 Impact on Industry 4.0
Outlook
Digital Twin Technology Playing an Important Role in Predictive Maintenance
With Manufacturing Competitiveness Increasing by the Day, PdM is the Right Step Forward Towards to Higher Value, Smart Manufacturing: Global Manufacturing Competitiveness Index (10-100 Index Score) by Country for the Year 2020
The Age of Analytics Made More Important by COVID-19 Provides the Cornerstone for the Disruptive Growth of Predictive Maintenance
Industry 4.0 Pushes Up the Effectiveness of Predictive Maintenance
Market to Witness Unconventional Growth as Effectiveness of Predictive Analytics in Predicting Failure & Maintenance Event Improves on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2020, 2022, 2024, and 2026
Significant Role of Digital Twins in Helping Organizations Embrace Manufacturing Automation
The Growing Momentum Towards Manufacturing Automation to Encourage New Pathways to Automating Machine Maintenance: Global Manufacturing Automation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Surge in Adoption of 3D Printing Technology in Manufacturing Industry
Artificial Intelligence Remains Integral Component of Digital Twin Technology
Emphasis on Reducing Project Costs to Drive Uptake of Digital Twin Technology
Focus on Building Crisis Resilient Smart Cities to Drive Demand for Smart City Digital Twin
Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
Growing Role Digital Twin Technology in Curbing Carbon Emissions
Global Greenhouse Emissions by Sector: 2020
EXHIBIT : Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 20240, 2045 & 2050
Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
Digital Twins Present a Powerful Tool to Simulate & Optimize Retail Supply Chain
Navigating COVID-19 Disruptions with Digital Twins
Increasing Use of Digital Twins in Automotive Industry
Vehicle Electrification Steps up with Digital Twin Technology
Global Electric Vehicle Sales in 000 Units: 2019-2025
Digital Twin Technology to Expedite 5G Implementation
Number of 5G Connections Worldwide: 2020-2025
Global Mobile Connections by Network Type (in %) for 2019 and 2025
Global Number of 5G Capex Spending (2018-2022) (in US$ Billion)
Agriculture Industry Accelerates Advanced Technologies Adoption
Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2020, 2022, 2024 & 2026
Aerospace Industry to Take Off with Transformative Potential of Digital Twins
Digital Twins for Modeling of Real-Life Systems
Impact of COVID-19 on Aerospace Industry
COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
Staged Recovery over Long-Term to Benefit Demand
Global Aircraft Deliveries by Region: 2021-2040
Specter of Far-Reaching Digital Twin-Related Implications for Life Sciences Arena
Cognitive Computing Enhances Capabilities of Digital Twin Technology
The Current State of Digital Twin Adoption in Civil Infrastructure Sector
Significant Role of DT in the Energy and Utility Sector
Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
Steep Rise Healthcare Spending to Augment Adoption of digital Twins
World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
Digital Twins Set to Go Mainstream in Real-Estate Sector

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/3pdu1t

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