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Digital Twin Global Market Report 2023 : Industry Insights, Growing Trends And Outlook 2032 | General Electric Company, IBM Corporation, Microsoft corporation, SAP SE, ANSYS Inc.
Digital Twin Market Analysis
As per the digital twin market report by The Business Research Company, The emergence of digitalization in manufacturing is driving the global digital twin market. Manufacturing units across the globe are investing in digitalization strategies to increase their operational efficiency, productivity and accuracy. These digitalization solutions including digital twin are contributing to an increase in manufacturer responsiveness and agility through changing customer demands and market conditions.
The global digital twin market size grew from $10.91 billion in 2022 to $15.17 billion in 2023 at a compound annual growth rate (CAGR) of 39.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital twin market size is expected to grow to $56.66 billion in 2027 at a CAGR of 39.0%.
Read More On The Digital Twin Market Report Here:
https://www.thebusinessresearchcompany.com/report/digital-twin-global-market-report
Major competitors in the Digital Twin market include General Electric Company, IBM Corporation, Microsoft corporation, SAP SE, ANSYS Inc., Oracle Corporation, Robert Bosch, Siemens AG, Dassault Systems, PTC, ABB, Swim.AI Inc., Hexagon AB, TIBCO Software Inc., and SAS Institute Inc.
The Digital Twin market is segmented -
By Type: Product Digital Twin, Process Digital Twin, System Digital Twin
By Technology: IoT & IIoT, Blockchain, Artificial Intelligence & Machine Learning, Augmented Reality, Virtual Reality, and Mixed Reality, Big Data Analytics, 5G
By Application: Manufacturing, Energy & power, Aerospace, Oil & Gas, Automobile, Others Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Digital Twin market.
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The digital twin refers to a digital virtual representation of an object or system that spans its lifecycle, is updated from real-time data, and assists decision-making via simulation, machine learning, and reasoning. It will assist engineers and operators in understanding not only how items currently work, but also how they will perform in the future. These software or solutions can create these predictions by analyzing data from linked sensors and combining it with information from other sources.
The Table Of Content For The Digital Twin Market Include:
1. Executive Summary
2. Digital Twin Market Characteristics
3. Digital Twin Market Trends And Strategies
4. Digital Twin Market - Macro Economic Scenario
5. Digital Twin Market Size And Growth
……
26. Africa Digital Twin Market
27. Digital Twin Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Twin Market
29. Digital Twin Market Future Outlook and Potential Analysis
30. Appendix
The "Global Digital Twin Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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