Digital Twin is a near-real-time digital image about the historical and current behaviour of a physical object or process that helps optimize business performance.
Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
This report contains market size and forecasts of Digital Twin Technology in Global, including the following market information:
Global Digital Twin Technology Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Digital Twin Technology market was valued at 1826.4 million in 2021 and is projected to reach US$ 4052.3 million by 2028, at a CAGR of 12.1% during the forecast period 2022-2028.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Asset Twin Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Digital Twin Technology include General Electric, PTC, Siemens, Dassault Systèmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation and Accenture (Mackevision), etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Digital Twin Technology companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Digital Twin Technology Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Digital Twin Technology Market Segment Percentages, by Type, 2021 (%)
Asset Twin
Process Twin
System Twin
Global Digital Twin Technology Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Digital Twin Technology Market Segment Percentages, by Application, 2021 (%)
Aerospace & Defense
Automotive & Transportation
Machine Manufacturing
Energy & Utilities
Others
Global Digital Twin Technology Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Digital Twin Technology Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Digital Twin Technology revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Digital Twin Technology revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
General Electric
PTC
Siemens
Dassault Systèmes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group