The "Global Digital Twin Market" report has been added to ResearchAndMarkets.com's offering. The global digital twin market was estimated to be worth $11.5 billion in 2023. It is projected to grow at ...
Autore: Business Wire
DUBLIN: The "Global Digital Twin Market" report has been added to ResearchAndMarkets.com's offering.
The global digital twin market was estimated to be worth $11.5 billion in 2023. It is projected to grow at a compound annual growth rate (CAGR) of 45.7% and is forecast to reach $119.3 billion by the end of 2029.
The report provides an overview of the digital twin global market value and analyzes its trends. Using 2023 as the base year, the report provides estimated market data for the forecast period from 2024 through 2029. Revenue forecasts for this period are segmented by solution type, application, industry, enterprise size, and geographical region. It also highlights major trends and challenges that affect the market, concluding with an analysis of the vendor landscape and including detailed profiles of major players in the global digital twin market.
Major drivers of the digital twin market include the adoption of 3D printing technologies combined with digital twin in manufacturing industries; increasing amounts of real-time data generated from the internet of things (IoT) and other smart devices; and the growing adoption of IoT, wireless connectivity and 5G technologies. High cost of deployment acts as a restraint to this market, whereas advances in cloud-based technology applications present future opportunities.
The industry paradigm is drastically changing as technology stands at the transition of Industry 4.0, a revolutionary wave driven by the unrelenting advance of connectivity, artificial intelligence (AI), mobility and machine learning (ML). Businesses are looking for methods to reduce errors and to maximize the development and dissemination of technology, finding themselves at the nexus of innovation and financial responsibility. Digital twin technology isn't limited to any one scale; it may be applied to everything from single parts to enormous urban environments. There are many applications for digital twins; they can be used to monitor a jet engine's efficiency or to plan the smooth running of an entire smart city.
The report also includes emerging technologies that are expected to shape the digital twin market in the coming years. It also includes ESG analysis of the market with the companies' ratings based on their performance. The competitive landscape provides detailed analysis of strategic decisions made by the leading companies in the digital twin market.
Report Includes
Companies Featured
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 176 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $18.2 Billion |
| Forecasted Market Value (USD) by 2029 | $119.3 Billion |
| Compound Annual Growth Rate | 45.7% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Emerging Technologies and Developments
Chapter 5 Market Segmentation Analysis
Chapter 6 Competitive Intelligence
Chapter 7 Sustainability in Digital Twin Industry: An ESG Perspective
Chapter 8 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ceosot
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Fonte: Business Wire