Press release
Digital Twins Market to Grow at a CAGR of 36.6% by 2026: Global Key Vendors (IBM Corporation, Microsoft Corporation, General Electric, SAP SE, Dassault Systèmes, Siemens, and Bosch GmbH)
Digital Twin Market
IBM Corporation (US), Microsoft Corporation (US), General Electric (US), SAP SE (Germany) are some of the key players in the Digital Twin Market with IBM Corporation holding a substantial market share because of its better technological advancements and global reach. Technological upgradation to address the changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
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Key Market Players
IBM Corporation
Microsoft Corporation
General Electric
SAP SE
Dassault Systèmes
Siemens
Bosch GmbH
Oracle Corporation
ANSYS, Inc.
AT&T
Drivers:
Adoption of IoT in design and manufacturing industries
Restraints:
Maintaining data security
Opportunities:
Technological advancements in the automotive sector
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Challenges:
Lack of availability of technical expertise
Segmentation done on the basis of Industry Sector includes Electronics & Electrical, Manufacturing, Retail, Automotive, Aerospace and Defense, Healthcare, Energy and Utilities; of which the Manufacturing segment is expected to hold the highest market share during the forecast period.
The Automotive segment is also expected to grow at the highest CAGR during year 2018-2023.
Key Benefits for Stakeholders
Digital Twin solution providers
Software & Cloud solution providers
Government bodies
Technology standards organizations and associations
End use industries
Analysts and strategic business planners
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By Industry Sector
Electronics & Electrical
Manufacturing
Retail
Automotive
Aerospace and Defense
Healthcare
Energy and Utilities
Others
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