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Digital Twin Market to Reach $143 Billion by 2030, Improving Agility and Decrease Production Time

10-27-2022 12:50 PM CET | Industry, Real Estate & Construction

Press release from: Strategic Market Research

Digital Twin Market to Reach $143 Billion by 2030, Improving

New York, USA, Oct 27, 2022 - In 2021, the digital twin market was valued at $6.1 billion and is expected to reach $143 billion by 2030. A digital twin is a virtual replica or imitation designed to reflect a physical target precisely. The target studied- for instance, a wind turbine- is equipped with various sensors related to crucial areas of functionality. These sensors generate data about different facets of the physical object's performance, such as weather forecasting, energy output, and temperature. This data is then passed to a processing system and applied to the digital copy.

Make a Direct Purchase of the latest Digital Twin Market Report published in the month of Sep-2022. Click the below link to initiate the purchase: https://strategicmarketresearch.com/buy-now/digital-twin-market

INDUSTRY STATISTICS AND INSIGHTS
• North America will be the global digital twin market leader during the forecasted period of 2022 to 2030.
• Sensat - a company which helps physical infrastructure companies map & visualize their data has raised $20.5 Mn led by National Grid Partners(NGP)
• Companies like IBM, Cisco, Bosch, Microsoft, Siemens, and Phillip are miles ahead in this market, pushing the envelope for 4th industrial revolution.


APPLICATION Insights
The Digital twin is already applicable in many industries. Mainly it is used in the automotive industry. Every function of a car, namely software, mechanics, electrics, and physical behavior, is simulated, and validation is given in each development step to recognize problems and possible failures before producing the real parts. Its uses in healthcare are growing at a rapid pace. It assists in patient care and research, where scientists create a copy of the patient brain, and then they can study the disease more precisely and learn how and which treatment works on human cells.


Segments Covered in the Report
The report predicts revenue growth at the global, country, and regional levels and analyzes the new and engaging industry trends in each sub-segments from 2021 to 2030. For this purpose, Strategic Market research has segmented each department for further analysis.

To get a first-hand overview of the report, Request a Sample at
https://strategicmarketresearch.com/request-sample/digital-twin-market

End-use Outlook (Revenue, USD Million, 2021 - 2030)
· Agriculture
· Manufacturing
· Energy & Utilities
· Telecommunication
· Automotive & transport
· Healthcare & Life Sciences
· Aerospace
· Retail & Consumer Goods
· Residential & Commercial
· Others

Solution Outlook
· System
· Process
· Component

Regional Outlook
• North America
· Canada
· US
• Europe
· France
· Germany
· UK
· Rest of Europe
• Asia Pacific
· India
· China
· Japan
· Rest of Asia Pacific
• Latin America
· Mexico
· Brazil
· Rest of Latin America
• Middle East & Africa

Key companies covered in the report
· ABB
· AVEVA Group plc
· Dassault Systemes
· Hexagon AB
· General Electric
· IBM Corporation
· SAP
· Microsoft
· Cisco

Before initiating a purchase, make a Pre-order inquiry and get a detailed overview of the content of the report: https://strategicmarketresearch.com/pre-order-enquiry/digital-twin-market

UPCOMING SCENARIOS IN DIGITAL TWIN
Grass root level change to existing operating models is clearly on the cards. Digital innovation happens in asset-intensive industries that are ingeniously changing operating models, requiring an integrated and digital view of assets, equipment, facilities, and processes. The Digital twin is a crucial part of the realignment.

The conglomeration of AI, IoT, and Data Analytics forecasting the future performance of a product even before the product is approved. Organizations can create a planned process with the help of digital twin technology. Engineers can perform scenario-based testing to forecast the identity risks and failures and apply alleviation in simulation labs. By the end of 2030, scientists may develop a fully functional human-form digital twin that can be exceedingly helpful in medical research.

To Know More Visit: https://www.strategicmarketresearch.com/market-report/digital-twin-market

Contact Us:
Strategic Market Research LLP.
Sunil Kumar
India: +91-8260836500
Email: info@strategicmarketresearch.com
Web: https://www.strategicmarketresearch.com
Blog: https://www.strategicmarketresearch.com/blog
Blog: https://www.strategicmarketresearch.com/blogs/metaverse-statistics
Press Release: https://www.strategicmarketresearch.com/press-releases

Related Report:
https://www.globenewswire.com/news-release/2022/08/31/2507985/0/en/Predictive-Maintenance-Market-is-Predicted-to-Reach-45-78-Billion-by-2030-Growing-at-a-CAGR-of-29-94.html

https://www.globenewswire.com/en/news-release/2022/08/29/2506215/0/en/Oncology-Drugs-Market-Worth-848-94-Billion-by-2030-at-9-51-CAGR.html

https://www.globenewswire.com/en/news-release/2022/08/25/2504919/0/en/With-9-51-CAGR-Global-Cyber-Security-Market-Size-to-Reach-USD-478-68-Billion-by-2030.html

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