Press release
Digital Twin Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)
Digital twin market is anticipated to grow significantly at a CAGR of 40.2% over the forecast period. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, the American Institute of Aeronautics and Astronautics has agreed to cooperate with the digital twin consortium to drive the adoption of computer technology, which is used to create a virtual representation of a physical system in the pre-production process. The consortium seeks to accelerate the implementation of digital twin technologies in various applications such as conceptual and structural modeling, artificial intelligence, terminology, and taxonomy and provides to develop new and innovative content and programming for the members. Further in November 2021, FutureOn signs an agreement with Kongsberg Digital(KDI), to strengthen its position as an international digital twin software provider. In doing so, it aims to support a comprehensive approach for designing, building, and operating digital twin for energy projects.Moreover, in December 2021, Siemens Smart Infrastructure acquired digital twin software for buildings from EcoDomus, a US-based company via agreement. The acquisition enabled Siemens Smart Infrastructure expand its digital building portfolio. The acquisition compises addition of its EcoDomus cloud-based building operations twin software and its flagship building management platform Desigo CC. With the help of the software, customers can generate digital replicas of their real buildings and assets, creating a common data environment that integrates BIM, Building Management Systems (BMS), Computerized Maintenance Management Systems (CMMS) and Internet of Things (IoT) systems. Such strategies adopted by key player will drive the market growth.
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Market Coverage
The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered- by type,by deployment type, by application
Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
Competitive Landscape- 3i Inc., ABB group, General Electric Co., Microsoft, IBM, Scalable Network Technologies Inc., Wipro Ltd., and others and others.
Digital Twin Market- Segmentation
By Type
Product Digital Twin
Process Digital Twin
System Digital Twin
By Deployment Type
Cloud
On-premises
By Application
Gas & Steam Power Plant
Digital Wind Farm
Grid
Hydropower Station
Others
A full Report of Digital Twin Market is Available @ https://www.omrglobal.com/industry-reports/digital-twin-market
Digital Twin Market -Region
North America
United States
Canada
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Latin America
Middle East & Africa
Company Profiles
3i Inc.
ACPD Services Ltd.
Artemis Technologies Ltd.
AVEVA Group Plc
COSMO Tech
Cupix Inc.
Emerson Electric Co.
Etteplan
Flexciton Ltd.
Fujitsu Ltd.
HASH
Imerso AS
Integrated Environmental Solutions Ltd.
Nomoko AG
Nvidia Corp
SCALABLE Network Technologies Inc.
Siemens AG
TwinThread Inc.
Unlearn AI Inc.
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Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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