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Digital Twin Technology Market Intelligence and Forecast by Future Market Insights 2017 - 2027

09-21-2017 02:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Digital Twin Technology Market Intelligence and Forecast

Digital twin technology is basically a combination of data and intelligence. It help enterprises to represent structure and behaviour of system. Digital twin technology is widely adopted by most of the enterprises to optimize physical world which enable them to significantly improve the business process and operational efficiency. Digital twin contain sensors that collects data to represent real time data of the physical asset. Digital twin technology offers an interface that makes organizations familiar to past and present operation, and helps them to make predictions of the future.

The digital twin technology has several industrial applications in areas such as wind turbines and aircraft engines. The complex intelligent maintenance system and prognostics platforms can influence the use of digital twin to improve productivity and resolving operational issues. Additionally, digital twin technology can also be used for the application such as monitoring, smart cities and diagnostics.

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Digital twin technology Market:Drivers and Challenges

The rise of industrial internet of things is one of the major factor driving the growth of the digital twin technology market. The industrial internet of things is the next surge of digitalization of technology that develops a bridge between physical and digital world. Digital twin technology model tracks the progress status of the physical product development cycle and allows user to monitor the performance of the system.

Managing all the design files for digital twin among distributers and suppliers is one of the major restraints faced by the digital twin technology market.

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Digital twin technology Market: Segmentation

Segmentation of digital twin technology on the basis of application

Manufacturing process planning

Product design

Segmentation of digital twin technology on the basis of end user:

Automotive

Aviation

Chemical

Healthcare

Oil and gas

Transportation

Power and utilities

Others

Digital twin technology Market: Key Players

Some of the key players of the digital twin technology are: Siemens Ltd., General Electric Company, Tibco software Inc., SAP SE, Microsoft Corporation, Forbesindia.com, and Schnitger Corporation

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

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