Digital Thread Market Size to Reach US$ 1,602 million by 2029 | Key Players. Growth Rate and Future Outlook

The global Digital Thread market size is projected to reach US$ 1,602 million by 2029, from US$ 792 million in 2022, at a CAGR of 10.4% during 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The major global companies of Digital Thread include General Electric, PTC, Siemens, Dassault Systèmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation, and etc.

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Key Players-
- General Electric
- PTC
- Siemens
- Dassault Systèmes
- IBM Corporation
- ANSYS
- SAP
- Oracle Corporation

Segment by Type
- Parts Type
- System Type

Segment by Application
- Aerospace & Defense
- Automotive & Transportation
- Machine Manufacturing
- Energy & Utilities
- Others

The digital thread market is expected to grow at a significant rate in the coming years due to the increasing adoption of Industry 4.0 and the Industrial Internet of Things (IIoT) technologies. Digital thread refers to the communication framework that connects all the data associated with a product throughout its lifecycle, from design and engineering to manufacturing, maintenance, and disposal.

The digital thread market can be segmented based on component, deployment mode, technology, application, end-user, and geography. Based on components, the market can be segmented into software and services. The software segment is expected to hold the largest market share due to the increasing demand for cloud-based digital thread software solutions.

Based on deployment mode, the market can be segmented into on-premises and cloud-based. The cloud-based deployment mode is expected to grow at a faster rate during the forecast period due to its benefits such as scalability, flexibility, and cost-effectiveness.

Based on technology, the market can be segmented into the Internet of Things (IoT), Artificial Intelligence (AI), blockchain, and others. The IoT technology segment is expected to hold the largest market share due to the increasing adoption of IIoT technologies in various end-user industries such as aerospace & defense, automotive, and healthcare.

Based on application, the market can be segmented into product lifecycle management (PLM), supply chain management (SCM), quality management, and others. The PLM segment is expected to hold the largest market share due to the increasing adoption of PLM software solutions in various end-user industries such as aerospace & defense and automotive.

Based on end-user, the market can be segmented into aerospace & defense, automotive, healthcare, industrial machinery, and others. The aerospace & defense segment is expected to hold the largest market share due to the increasing adoption of digital thread solutions in the industry.

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Geographically, North America is expected to hold the largest market share due to the presence of key market players, high adoption of digital thread technologies, and the presence of a large number of manufacturing companies in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of Industry 4.0 technologies in the region.

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This release was published on openPR.