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Digital Twin Market Research Report 2019 | By Top Key Players: Dell, Oracle Corporation, Robert Bosch GmbH, Alphabet Inc., Bosch Software Innovations GmbH, Cisco Systems, Inc., CSC

Digital Twin Technology is among the top 10 strategic technology trends named by Gartner Inc. in 2017 where the virtual counterparts of the physical assets are created as digitalized duplicates of machines/ equipment or physical sites using sensors. To create a digital twin model the data get collected from various sources including physical data, manufacturing data, operational data and insights from analytics software and get integrated with AI algorithms is into a physics-based virtual model by applying Analytics to the model. Such digital duplicates can imitate real-world situations and help in optimizing systems and processes, examining products, and monitoring the performance and condition of machines.

Development of IOT technology and the enhancement in artificial intelligence is majorly boosting the growth of digital twin market in upcoming period. Digital Twin market is growing owing to the increase in usage of industrial internet of things, digitization of records, optimized products, abolishment of obsolete technology, and introduction of smart technology.

Request for PDF Sample of this Research Report@ https://www.blueweaveconsulting.com/global-digital-twin-market-1987/#ReportSample

It is one such technology which is changing the industry dynamics thus widely used for reducing operational loss, designing and repairing of airplanes and turbines, controlling supply chain loss in a manufacturing plant, and others. In addition, the innovation in the area of virtual and augmented reality will further help the market to grow at a substantial rate during the forecast period. Digital twins are the core of the fourth industrial revolution or Industry 4.0 which embraces automation, data exchange and manufacturing technologies, Bringing in unlimited possibilities.

Global Digital Twin Application Analysis
Based on the application, the global market is segregated into Product Design & Development, Inventory Management, Manufacturing Process & Planning, Others. Product design & development is the dominant segment in terms of application where digital twin can be seen as the key enabler to exchange information across organizations which includes the selected operational and maintenance information about an asset, can be managed within the digital twin and exchanged with external parties in an appropriate way. Particularly the process data and models provided in a digital twin, as well as the real-time simulation results, help to predict the need and improve the design for the next generations. Predictive analytics help manufacturers to confidently calculate future challenges where the digital twin approach allows continuous improvement of the asset type designs, based on real data. The digital twin reduces the time for the basic engineering and commissioning of a field device from some 10 to fractions of a second.

Global Digital Twin Regional Analysis
Based on the region, the global digital twin market is segregated into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for the largest share and is expected to continue the dominance in upcoming years. The rising factors include the increasing adoption of IoT in a single smart interface of smartphones, PCs, and tablets. Also, rising cybercrimes is another factor expected to grow demand for integrated IoT security solutions for application in various sectors such as government, defense, and healthcare. However, APAC is the fastest growing region due to the numerous initiatives to encourage the implementation of IoT in this region. Moreover, due to the dense population and the growing per capita income of this region, along with the large-scale industrialization and urbanization, APAC is expected to have a huge market potential over the forecast period.

Global Digital Twin Market: Competitive Landscape
Major players operating in the global digital twin market include General Electric, IBM Corporation, PTC, Inc., Siemens AG, SAP SE, Microsoft Corporation, Alphabet Inc., Dell, Oracle Corporation, Robert Bosch GmbH, Alphabet Inc., Bosch Software Innovations GmbH, Cisco Systems, Inc., CSC, Schnitger Corporation, AT&T, and Tibco Software Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures with the aim to boost the inorganic growth of the industry.

Complete Analysis of this Report@ https://www.blueweaveconsulting.com/global-digital-twin-market-1987/

About BlueWeave Consulting & Research Pvt. Ltd.

BlueWeave Consulting is a one-stop solution for market intelligences regarding various products and services online & offline. We offer worldwide market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. Our primary forte lies in publishing more than 100 research reports annually. We have a seasoned team of analysts working only for various sub-domains like Chemical and Materials, Information Technology, Telecommunication, Medical Devices/Equipment, Healthcare, Automotive and many more. BlueWeave has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients for years. We are one of the leading digital market intelligence generation company delivering unique solutions for blooming your business and making the morning, more rising & shining.

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