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Digital Twin Market Expected to grow at a CAGR of 24.7% during the forecast period 2017-2023 | Infosys, General Electric, Siemens, AT & T, IBM

07-12-2019 01:49 PM CET | IT, New Media & Software

Press release from: ReportsWeb

ReportsWeb

ReportsWeb

Digital twin Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts upto 2023

Overview:
Globalization has made companies to focus more on digitalization both in the business and consumer market places. Over the past few years, IoT has been reaching milestones in the world of technology and it has paved the path for the evolution of various new technologies for enterprises. Digital twin is one such technology which is changing the industry dynamics. Digital twin refers to simulation modules of a physical object.

The digital twin market is expected to grow at a CAGR of 24.7% during the forecast period 2017-2023.

The market is analyzed based on digital twin types, verticals, deployment type, applications, and regions. The digital twin types considered are product twin, part twin, process twin, and system twin, wherein the process and systems twins are at a high demand in the end-user industries owing to its wide functionalities. The deployment type segment includes, cloud-based, on-premises, and hybrid. Currently, cloud deployment is expected to contribute a major share followed by the on-premises and hybrid during the forecast period 2017-2023.

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This technology is capable of supporting conceptualization, comparison, and collaboration for high-end innovations and problem-solving. Further, the technology provides real-time status and working conditions of the physical objects by accessing data from the sensors installed in the objects. Industry players benefit from this technology in terms of efficiency, higher productivity, lean manufacturing, and cost-effectiveness.

Digital twin works on a simulation platform connected to a predictive analytics platform and it integrates several manufacturing assets, underlying parts, and system processes in real-time with the help of sensors and communicates to the operator in a simulation module. The system senses data from a wide range of devices/machines and analyzes the work. Digital twin is currently used for reducing operational loss, designing and repairing of airplanes and turbines, controlling supply chain loss in a manufacturing plant, and others.

The applications covered are business optimization, operation optimization, asset performance management, edge computing, cyber security, and others. The business and process optimizations are set to bring the innovations in the digital twin technology as they control supply chain loss and offer better lean manufacturing capabilities and data driven solutions to improve the productivity.

Regions and Vertical Analysis:
The regions covered in report are Americas, Europe, Asia Pacific, and ROW. Among these, Americas is expected to grow at a higher CAGR during the forecast period 2017-2023. The US, Canada, the UK, Germany, and Japan are expected to adopt more digital twin technologies, and Brazil, Switzerland, and Poland are the emerging countries for the digital twin technology adoption owing to the policy changes for the development of their manufacturing capabilities and the rising trend for spending on industrial digital technologies.

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Benefits and Vendors
The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape. Digital twin technology is expected to change the way industries work by 2030 with its wide range of capabilities. The report covers an in-depth analysis of Infosys, General Electric, Siemens, AT & T, IBM, and others.

The study offers a comprehensive analysis of the "Global Digital Twin Market". Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

Table of Contents:

1 Industry Outlook 9
2 Report Outline 12
3 Market Snapshot 16
4 Market Outlook 18
5 Market Characteristics 20
6 Deployment Type: Market Size and Analysis 28
7 Digital twin type: Market Size and Analysis 31
8 Applications: Market Size and Analysis 34
9 Industries: Market Size and Analysis 40
10 Regions: Market Size and Analysis 48
11 Vendors Profile 63
11.1 IBM Corp. 63
11.1.1 Overview 63
11.1.2 Business Unit 64
11.1.3 Geographic Revenue 65
11.1.4 Business Focus 66
11.1.5 SWOT Analysis 66
11.1.6 Business Strategy 67
11.2 Siemens Ltd. 68
11.2.1 Overview 68
11.2.2 Business Units 69
11.2.3 Geographic Revenue 70
11.2.4 Business Focus 70
11.2.5 SWOT Analysis 71
11.2.6 Business Strategies 71
11.3 AT & T Inc. 73
11.3.1 Overview 73
11.3.2 Business units 73
11.3.3 Geographic revenue 75
11.3.4 Business focus 75
11.3.5 SWOT analysis 75
11.3.6 Business strategies 76
11.4 Infosys Limited 77
11.4.1 Overview 77
11.4.2 Business Units 77
11.4.3 Geographic Revenue 78
11.4.4 Business Focus 79
11.4.5 SWOT Analysis 79
11.4.6 Business Strategy 80
11.5 General Electric 81
11.5.1 Overview 81
11.5.2 Business Units 81
11.5.3 Geographic Revenue 81
11.5.4 Business Focus 81
11.5.5 SWOT Analysis 81
11.5.6 Business Strategy 82
12 Companies to Watch for 83
12.1 Concirrus 83
12.1.1 Overview: 83
12.1.2 Product Offering 83
12.2 DIGITAL TWIN 83
12.2.1 Overview 83
12.2.2 Product Offering 83
12.3 TwinThread, LLC 84
12.3.1 Overview 84
12.3.2 Product Offering 84
12.4 SimScale GmbH 84
12.4.1 Overview 84
12.4.2 Product Offering 85
13 Competitive Landscape 86

Contact Info:
Name: Sameer Joshi
Email: sales@reportsweb.com
Organization: ReportsWeb
Phone: +1-646-491-9876

Pune, India

ReportsWeb.com is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost effective research reports and solutions from various publishers. We provide best in class customer service and our customer support team is always available to help you on your research queries.

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