Press release
Global Digital Twin Market to grow at a CAGR of 32.73% during the period 2017-2021.
Digital twins integrate technologies such as machine learning, M2M, artificial intelligence (AI), predictive analytics, and sensor telemetry to create digital clones of physical machines and idealized digital simulation models that evolve based on the data collected from real-world instances. Digital twins are digital copies of physical assets including all their modeled characteristics and behaviors. This can also include the effects of aging and repeated usage on a physical object over a period of time. A digital twin is designed by 3D modeling a physical object, which is activated using sensors that have data collected from sensors of the physical object.
Technavios analysts forecast the global digital twin market to grow at a CAGR of 32.73% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global digital twin market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of hardware and software products used to develop and implement digital twin technology, which is deployed on-premises and on the cloud.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Digital Twin Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
General Electric
Microsoft
PTC
Siemens
Other prominent vendors
Oracle
IBM
ANSYS
Bosch Software Innovations
SAP
Market driver
Developments in sensor technologies and communication devices
For a full, detailed list, view our report
Market challenge
High costs of implementation
For a full, detailed list, view our report
Market trend
Industrial Internet revolution
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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