Digital Twin Market Outlook To 2025: In-Depth Profiling With Top Key Players Like Capgemini, IBM, Infosys, Microsoft, Oracle, PTC, SAP SE, SAS Institute, Wipro, ABB, Ansys., Autodesk, Bentley Systems, General Electric Company, Robert Bosch, Rockwell

The changing digital twin market outlook can be accredited to the increasing adoption of IoT and rapidly rising rate of digitalization across the globe. According to the Annual IoT Barometer of Vodafone, more than a third (34%) of businesses have adopted IoT to some extent. Around 70 percent of the companies have moved beyond the pilot and 95 percent report witnessing clear benefits of their investment. This has led to growing confidence in the technology with 83 percent firms now expanding their deployment of IoT.

The fields of application for digital twins are diverse and not confined to a specific domain or industry. Having said that, digital twin market analysis reports claim that automotive, manufacturing, energy & utility, healthcare, aerospace and defense, infrastructure, retail, and consumer goods are the leading end-users of this unconventional technology.

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Digital twin technology has provided the manufacturing sector with huge time and cost saving benefits and has vastly enhanced its operations and outputs. The need to increase production, quality and efficiency will contribute to the growth of digital twin industry. The manufacturing sector is projected to account for a share of more than 25% in digital twin market by 2025.

By adopting IoT, digital twin technology and smart products, brands are expected to reduce waste and improve processing time, particularly with packaged consumer products. Digital twinning plays a significant role in tracking and tracing products, services that have become increasingly important to logistic companies and supply-chain managers.

The automotive sector has also been undertaking efforts to deploy digital twin technology to take advantage of the substantial benefits being offered by the technology. For instance, Tesla Motors has been expansively investing in digital twin technology to provide better service and reliability to car owners. The company creates a digital twin of every car it sells and then updates software based on the individual vehicles’ sensor data. This data-driven software development process enables more efficient resource allocation and a markedly better user experience for the vehicle owner.

Digital twins can potentially help industries in reducing product development and testing expenses. Companies depending heavily on destructive testing for developing products can use the virtual replica of the real-world scenario for significant portion of the product testing. Say for example, automotive industry can employ digital twin for crash testing prototype vehicles. Likewise, enterprises creating giant models and prototypes for feasibility analysis can save money with digital twins during product development. Digital twin market is slated to advance at a rapid pace in the coming years, given the above backdrop.

Currently, the term digital twin looks like a future concept surrounded by a lot of marketing hype from some top-notch technology companies like Amazon, Microsoft, IBM, and the like. But, considering the unparalleled growth of the digital twin market share in recent years, it can be alleged that this disruptive technology will ensue a broad and deep impact on a plethora of industries in 2019 and beyond.

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Glimpse of Table of Content (ToC): -
Chapter 5. Digital Twin Market, By Application
5.1. Key trends, by application
5.2. Product design & development
5.2.1. Digital Twin estimates and forecast, 2014-2025
5.3. Machine & equipment health monitoring
5.3.1. Digital Twin Market estimates and forecast, 2014-2025
5.4. Process support & service
5.4.1. Market estimates and forecast, 2014-2025
Chapter 6. Digital Twin Market, By End-Use
6.1. Key trends, by end-use
6.2. Manufacturing
6.2.1. Market estimates and forecast, 2014-2025
6.3. Healthcare
6.3.1. Market estimates and forecast, 2014-2025
6.4. Automotive
6.4.1. Digital Twin Market estimates and forecast, 2014-2025
6.5. Aerospace & defense
6.5.1. Market estimates and forecast, 2014-2025
6.6. Energy & utility
6.6.1. Market estimates and forecast, 2014-2025
6.7. Infrastructure buildings
6.7.1. Market estimates and forecast, 2014-2025
6.8. Retail & consumer goods
6.8.1. Market estimates and forecast, 2014-2025

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