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Digital Twin Market | Industry is further estimated to grow at a CAGR of 36.86% from 2017 to reach USD 15.83 Billion by the year 2023 Global Opportunity Analysis and Industry and Market Key players IBM, Microsoft, General Electric, Siemens and Others

10-05-2018 09:19 AM CET | IT, New Media & Software

Press release from: Genesis market insights

Digital Twin

Digital Twin

Digital tweens represent digital copies of physical assets (physical tweens), processes, people, places, systems, and devices that can be used for a variety of purposes. Digital representations provide the elements and dynamics of how the Internet of things works and lasts for the life cycle.
Digital twins integrate artificial intelligence, machine learning and software analysis with spatial network graphs to create a vivid digital simulation model that is updated and changed as the physical party changes. Digital twins constantly learn and update from multiple sources to show near-real-time status, work status, or location. This learning system learns for itself using sensor data that conveys various aspects of the operating state. From human experts such as engineers with deep and relevant industry knowledge; from other similar machines; and that comes from larger systems and environments. Digital Twin reflects historical data on past machine usage in digital models.

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GLOBAL DIGITAL TWIN MARKET was valued at USD 2.41 Billion in the year 2017. Global Digital Twin Market is further estimated to grow at a CAGR of 36.86% from 2017 to reach USD 15.83 Billion by the year 2023. North America region holds the highest market share in 2017 and Asia-Pacific is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S. and emerging markets like China with highest population base holds a notable market share in 2017 and it is projected to grow at a gradual pace in the coming years.

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 up-gradation 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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Top Market Key Players:-
IBM Corporation
Microsoft Corporation
General Electric
SAP SE
Dassault Systèmes
Siemens
Bosch GmbH
Oracle Corporation
ANSYS, Inc.
AT&T

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Research Methodology:
Genesis Market Insights follows in-depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques –
1. Raw Market Data is collected and compared with the Existing in-house Data on a broad front.
2. Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
3. To avoid bias, we filter the collected data collected from authenticated sources.
4. GMI has a well proven Statistical Modeling System for estimates and forecasts.
5. Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
6. Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.

About:
Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in house data validation tools, GMMR has delivered actionable, reliable and all-inclusive Market Research Reports. GMMR is growing strongly for last 2 decades with most of the clients providing repeat business for their trust on the data quality and recommendations for decision making. Genesis provides strategic plan for project execution and any operational support to help them grow their revenues. Company have faith on us to find new revenue streams, and minimizing market risks. We have accomplished our proficiency by being present in the world's 130+ most promising markets for over 20 years.

Contact Us
Genesis Market Insights
902 Broadway, 6th Floor,
New York, NY 10010,
USA
T: (212) 634-4560
Email: info@genesismarketinsights.com
Website: www.genesismarketinsights.com

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