Digital Twin Market Size to Reach USD 24.81 Billion by 2025 | Technavio

NEW YORK, March 23, 2021 /PRNewswire/ -- The global digital twin market size is expected to grow by USD 24.81 billion during 2021-2025, progressing at a CAGR of over 39% during the forecast period.

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Industry 4.0 and industrial IoT is one of the major factors propelling market growth. However, factors such as high cost of deployment and complex architecture of digital twin will hamper the market growth.

Industry 4.0 initiatives are set to introduce innovative production methodologies using advanced technologies, such as cloud, IoT, analytics, digital twin, digital scanning, AI, and cybersecurity. Digital twin technology is at the center of the Industry 4.0 initiatives development that embraces automation, real-time data exchange, and smart manufacturing processes. Industries have been actively using digital twins for their asset and product lifecycle management. The technology allows companies to create a virtual replica of their products and processes and empowers them to take the necessary decisions in advance. 

More details: www.technavio.com/report/digital-twin-market-size-industry-analysis

Global Digital Twin Market: End-user Landscape
The rapid adoption of Industry 4.0 across the world is a major growth enabler for digital twin solutions in the manufacturing sector. Digital twin solutions will play an important role in product design, manufacturing process, and repair and maintenance. These solutions are used to make digital replicas of products and manufacturing processes.  However, the post COVID-19 impact has brought forth a slowdown in the manufacturing segment owing to the temporary closure of manufacturing facilities during the lockdown. 

Global Digital Twin Market: Geographic Landscape
42% of the market's growth will originate from North America during the forecast period. The US is a key market for digital twin solutions in North America. Market growth in this region will be faster than the growth of the market in Europe. The increasing demand for digital twin in the automobile and aerospace industries will facilitate the digital twin market growth in North America over the forecast period. 

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Companies Covered

• General Electric Co.
• Honeywell International Inc.
• International Business Machines Corp.
• Kongsberg Gruppen ASA
• Microsoft Corp.
• Oracle Corp.
• PTC Inc.
• SAP SE
• Siemens AG
• Wipro Ltd.

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2020, 2021, till 2025
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Digital Twin Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist in digital twin market growth during the next five years
• Estimation of the digital twin market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the digital twin market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of digital twin market, vendors

Table of Contents:
Executive Summary

Market Landscape

• Market ecosystem
• Impact of COVID-19 on IT sector
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Manufacturing - Market size and forecast 2020-2025
• Energy and utilities - Market size and forecast 2020-2025
• Aerospace and defense - Market size and forecast 2020-2025
• Automotive - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by End-user

Market Segmentation by Deployment

• Market segments
• Comparison by Deployment
• On-premise - Market size and forecast 2020-2025
• Cloud - Market size and forecast 2020-2025
• Market opportunity by Deployment

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• General Electric Co.
• Honeywell International Inc.
• International Business Machines Corp.
• Kongsberg Gruppen ASA
• Microsoft Corp.
• Oracle Corp.
• PTC Inc.
• SAP SE
• Siemens AG
• Wipro Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Report: https://www.technavio.com/report/digital-twin-market-size-industry-analysis

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