Digital Twin Technology Market, Global Outlook and Forecast 2023-2029
Report Code: KNJ1479165 No. of Pages: 61 Category: Services
Publisher: Date of Publish:
Publisher: Date of Publish:
Digital Twin is a near-real-time digital image about the historical and current behaviour of a physical object or process that helps optimize business performance.
Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
This report aims to provide a comprehensive presentation of the global market for Digital Twin Technology, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Digital Twin Technology. This report contains market size and forecasts of Digital Twin Technology in global, including the following market information:
Global Digital Twin Technology Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Digital Twin Technology market was valued at US$ 1826.4 million in 2022 and is projected to reach US$ 4052.3 million by 2029, at a CAGR of 12.1% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global digital twin technology key players include General Electric, PTC, Siemens etc. Global top 3 manufacturers hold a share about 50%. North America is the largest market, with a share about 53%, followed by Europe, have a share over 38 percent.In terms of product, system twin is the largest segment, with a share over 55%. And in terms of application, the largest application is machine manufacturing, followed by energy & utilities.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Digital Twin Technology companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Digital Twin Technology Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Digital Twin Technology Market Segment Percentages, by Type, 2022 (%)
System Twin
Process Twin
Asset Twin
Global Digital Twin Technology Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Digital Twin Technology Market Segment Percentages, by Application, 2022 (%)
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
Global Digital Twin Technology Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Digital Twin Technology Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Digital Twin Technology revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Digital Twin Technology revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group
Outline of Major Chapters:
Chapter 1: Introduces the definition of Digital Twin Technology, market overview.
Chapter 2: Global Digital Twin Technology market size in revenue.
Chapter 3: Detailed analysis of Digital Twin Technology company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Digital Twin Technology in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
1 Introduction to Research & Analysis Reports
1.1 Digital Twin Technology Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Digital Twin Technology Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Digital Twin Technology Overall Market Size
2.1 Global Digital Twin Technology Market Size: 2022 VS 2029
2.2 Global Digital Twin Technology Market Size, Prospects & Forecasts: 2018-2029
2.3 Key Market Trends, Opportunity, Drivers and Restraints
2.3.1 Market Opportunities & Trends
2.3.2 Market Drivers
2.3.3 Market Restraints
3 Company Landscape
3.1 Top Digital Twin Technology Players in Global Market
3.2 Top Global Digital Twin Technology Companies Ranked by Revenue
3.3 Global Digital Twin Technology Revenue by Companies
3.4 Top 3 and Top 5 Digital Twin Technology Companies in Global Market, by Revenue in 2022
3.5 Global Companies Digital Twin Technology Product Type
3.6 Tier 1, Tier 2 and Tier 3 Digital Twin Technology Players in Global Market
3.6.1 List of Global Tier 1 Digital Twin Technology Companies
3.6.2 List of Global Tier 2 and Tier 3 Digital Twin Technology Companies
4 Market Sights by Product
4.1 Overview
4.1.1 By Type - Global Digital Twin Technology Market Size Markets, 2022 & 2029
4.1.2 System Twin
4.1.3 Process Twin
4.1.4 Asset Twin
4.2 By Type - Global Digital Twin Technology Revenue & Forecasts
4.2.1 By Type - Global Digital Twin Technology Revenue, 2018-2023
4.2.2 By Type - Global Digital Twin Technology Revenue, 2024-2029
4.2.3 By Type - Global Digital Twin Technology Revenue Market Share, 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global Digital Twin Technology Market Size, 2022 & 2029
5.1.2 Aerospace and Defense
5.1.3 Automotive and Transportation
5.1.4 Machine Manufacturing
5.1.5 Energy and Utilities
5.1.6 Others
5.2 By Application - Global Digital Twin Technology Revenue & Forecasts
5.2.1 By Application - Global Digital Twin Technology Revenue, 2018-2023
5.2.2 By Application - Global Digital Twin Technology Revenue, 2024-2029
5.2.3 By Application - Global Digital Twin Technology Revenue Market Share, 2018-2029
6 Sights by Region
6.1 By Region - Global Digital Twin Technology Market Size, 2022 & 2029
6.2 By Region - Global Digital Twin Technology Revenue & Forecasts
6.2.1 By Region - Global Digital Twin Technology Revenue, 2018-2023
6.2.2 By Region - Global Digital Twin Technology Revenue, 2024-2029
6.2.3 By Region - Global Digital Twin Technology Revenue Market Share, 2018-2029
6.3 North America
6.3.1 By Country - North America Digital Twin Technology Revenue, 2018-2029
6.3.2 US Digital Twin Technology Market Size, 2018-2029
6.3.3 Canada Digital Twin Technology Market Size, 2018-2029
6.3.4 Mexico Digital Twin Technology Market Size, 2018-2029
6.4 Europe
6.4.1 By Country - Europe Digital Twin Technology Revenue, 2018-2029
6.4.2 Germany Digital Twin Technology Market Size, 2018-2029
6.4.3 France Digital Twin Technology Market Size, 2018-2029
6.4.4 U.K. Digital Twin Technology Market Size, 2018-2029
6.4.5 Italy Digital Twin Technology Market Size, 2018-2029
6.4.6 Russia Digital Twin Technology Market Size, 2018-2029
6.4.7 Nordic Countries Digital Twin Technology Market Size, 2018-2029
6.4.8 Benelux Digital Twin Technology Market Size, 2018-2029
6.5 Asia
6.5.1 By Region - Asia Digital Twin Technology Revenue, 2018-2029
6.5.2 China Digital Twin Technology Market Size, 2018-2029
6.5.3 Japan Digital Twin Technology Market Size, 2018-2029
6.5.4 South Korea Digital Twin Technology Market Size, 2018-2029
6.5.5 Southeast Asia Digital Twin Technology Market Size, 2018-2029
6.5.6 India Digital Twin Technology Market Size, 2018-2029
6.6 South America
6.6.1 By Country - South America Digital Twin Technology Revenue, 2018-2029
6.6.2 Brazil Digital Twin Technology Market Size, 2018-2029
6.6.3 Argentina Digital Twin Technology Market Size, 2018-2029
6.7 Middle East & Africa
6.7.1 By Country - Middle East & Africa Digital Twin Technology Revenue, 2018-2029
6.7.2 Turkey Digital Twin Technology Market Size, 2018-2029
6.7.3 Israel Digital Twin Technology Market Size, 2018-2029
6.7.4 Saudi Arabia Digital Twin Technology Market Size, 2018-2029
6.7.5 UAE Digital Twin Technology Market Size, 2018-2029
7 Digital Twin Technology Companies Profiles
7.1 General Electric
7.1.1 General Electric Company Summary
7.1.2 General Electric Business Overview
7.1.3 General Electric Digital Twin Technology Major Product Offerings
7.1.4 General Electric Digital Twin Technology Revenue in Global Market (2018-2023)
7.1.5 General Electric Key News & Latest Developments
7.2 PTC
7.2.1 PTC Company Summary
7.2.2 PTC Business Overview
7.2.3 PTC Digital Twin Technology Major Product Offerings
7.2.4 PTC Digital Twin Technology Revenue in Global Market (2018-2023)
7.2.5 PTC Key News & Latest Developments
7.3 Siemens
7.3.1 Siemens Company Summary
7.3.2 Siemens Business Overview
7.3.3 Siemens Digital Twin Technology Major Product Offerings
7.3.4 Siemens Digital Twin Technology Revenue in Global Market (2018-2023)
7.3.5 Siemens Key News & Latest Developments
7.4 Dassault Systèmes
7.4.1 Dassault Systèmes Company Summary
7.4.2 Dassault Systèmes Business Overview
7.4.3 Dassault Systèmes Digital Twin Technology Major Product Offerings
7.4.4 Dassault Systèmes Digital Twin Technology Revenue in Global Market (2018-2023)
7.4.5 Dassault Systèmes Key News & Latest Developments
7.5 IBM Corporation
7.5.1 IBM Corporation Company Summary
7.5.2 IBM Corporation Business Overview
7.5.3 IBM Corporation Digital Twin Technology Major Product Offerings
7.5.4 IBM Corporation Digital Twin Technology Revenue in Global Market (2018-2023)
7.5.5 IBM Corporation Key News & Latest Developments
7.6 ANSYS
7.6.1 ANSYS Company Summary
7.6.2 ANSYS Business Overview
7.6.3 ANSYS Digital Twin Technology Major Product Offerings
7.6.4 ANSYS Digital Twin Technology Revenue in Global Market (2018-2023)
7.6.5 ANSYS Key News & Latest Developments
7.7 Microsoft Corporation
7.7.1 Microsoft Corporation Company Summary
7.7.2 Microsoft Corporation Business Overview
7.7.3 Microsoft Corporation Digital Twin Technology Major Product Offerings
7.7.4 Microsoft Corporation Digital Twin Technology Revenue in Global Market (2018-2023)
7.7.5 Microsoft Corporation Key News & Latest Developments
7.8 Oracle Corporation
7.8.1 Oracle Corporation Company Summary
7.8.2 Oracle Corporation Business Overview
7.8.3 Oracle Corporation Digital Twin Technology Major Product Offerings
7.8.4 Oracle Corporation Digital Twin Technology Revenue in Global Market (2018-2023)
7.8.5 Oracle Corporation Key News & Latest Developments
7.9 Accenture (Mackevision)
7.9.1 Accenture (Mackevision) Company Summary
7.9.2 Accenture (Mackevision) Business Overview
7.9.3 Accenture (Mackevision) Digital Twin Technology Major Product Offerings
7.9.4 Accenture (Mackevision) Digital Twin Technology Revenue in Global Market (2018-2023)
7.9.5 Accenture (Mackevision) Key News & Latest Developments
7.10 SAP
7.10.1 SAP Company Summary
7.10.2 SAP Business Overview
7.10.3 SAP Digital Twin Technology Major Product Offerings
7.10.4 SAP Digital Twin Technology Revenue in Global Market (2018-2023)
7.10.5 SAP Key News & Latest Developments
7.11 AVEVA Group
7.11.1 AVEVA Group Company Summary
7.11.2 AVEVA Group Business Overview
7.11.3 AVEVA Group Digital Twin Technology Major Product Offerings
7.11.4 AVEVA Group Digital Twin Technology Revenue in Global Market (2018-2023)
7.11.5 AVEVA Group Key News & Latest Developments
8 Conclusion
9 Appendix
9.1 Note
9.2 Examples of Clients
9.3 Disclaimer
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