THE LEADING RESEARCH REPORTS DISTRIBUTION
NETWORK

icrowd research  icrowd research  icrowd research  icrowd research  icrowd research  icrowd research  icrowd research  icrowd research

Digital Twin Market worth $48.2 billion by 2026




Sep 16, 2020



According to the new market research report Digital Twin Market by Technology, Type (Product, Process, and System), Application (predictive maintenance, and others), Industry (Aerospace & Defense, Automotive & Transportation, Healthcare, and others ), and Geography – Global Forecast to 2026″, published by MarketsandMarkets™, the Digital Twin Market was valued at USD 3.1 billion in 2020 and is expected to reach USD 48.2 billion by 2026, at a CAGR of 58% from 2020 to 2026. Increasing demand for digital twins in the healthcare and pharmaceutical industries due to the outbreak of COVID-19 pandemic, the changing face of maintenance, and growing adoption of digital twin solutions to cope up with the COVID-19 pandemic are the key factors driving the growth of the digital twin market.

Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=225269522

System digital twin to account for the largest share of the digital twin market

The market for system digital twin accounted for the largest market share in 2019. This growth can be attributed to the increasing use of digital twin for systems in various applications. For example, in the aerospace & defense sector, the LOCOMACHS has implemented a digital twin for the entire assembly line for an aircraft wing for performance monitoring. In addition, in the automotive & transportation industry, Tesla Motors is using a digital twin solution for every car it manufactures for better performance and business improvement.

Automotive & transportation accounted for the largest share of the digital twin market in 2019

Automotive & transportation industry accounted for the largest market share in the digital twin market in 2019. This growth can be attributed to the increasing usage of digital twins for designing, simulation, MRO (maintenance, repair, and overhaul), production, and after service. Automotive & transportation is one of the industries that will witness high growth in the post-COVID-19 period, as industry players will try to adopt digital solutions for their end-to-end operations to minimizes losses that have occurred due to the pandemic.

Browse in-depth TOC on “Digital Twin Market
97 – Tables
47 – Figures
177 – Pages

Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=225269522

North America to account for the largest share of the digital twin market by 2026

In recent years, the development of various software and deployment of automation solutions in the manufacturing industries has improved production lines and downstream operations. These developments have positively impacted the growth of the digital twin market in North America due to the high economic growth and a large presence of vendors offering digital twins.

A few of the key players in the digital twin market are General Electric (US), IBM (US), PTC (US), Microsoft Corporation (US), Siemens AG (Germany), ANSYS (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM. AI (US).                                                                                                                                    

Related Reports:

Industrial IoT (IIoT) Market by Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Condition Monitoring, Networking Technology), Connectivity (Wired, Wireless, Field Technology), Software (PLM, MES, SCADA), Vertical, Region – Global Forecast to 2025

Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography – Global Forecast to 2025

Tags:

See Campaign: https://www.marketsandmarkets.com/Market-Reports/digital-twin-market-225269522.html
Contact Information:
Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441

Tags:
Research, IPS, Wire, Extended Distribution, iCN Internal Distribution, Research Newswire, English