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Digital Twins Market Growing at a CAGR of 36.6% (2017-2026): Siemens, PTC, Dassault Systèmes, Autodesk, SAS, ANSYS, Inc., Altair, Sap, IBM, Microsoft, Oracle and GE

Global Digital Twins Market is accounted for $2.37 million in 2017 and is expected to reach $39.39 million by 2026 growing at a CAGR of 36.6% during the forecast period

Digital Twins report is the comprehensive market research report which studies the challenges, market structures, opportunities, driving forces, emerging trends, and competitive landscape of Semiconductor and Electronics industry. Moreover, the report revises general market conditions, estimates market share and possible sales volume of Semiconductor and Electronics industry, figure out the probable market for a new product to be launched and discover the most appropriate method for the distribution of certain product. By taking into consideration specific base year and historic year, calculations in the report have been performed which interprets the market performance in the forecast years by giving information about what the market definition, classifications, applications, and engagements are.

Global Digital Twins Market is accounted for $2.37 million in 2017 and is expected to reach $39.39 million by 2026 growing at a CAGR of 36.6% during the forecast period. Factors such as increasing adoption of IoT and Cloud platforms, predominant usage of Industrial Internet-of things (IIoT) for design and manufacturing are favoring the market growth. However, risks related with data security due to the use of IoT and cloud platform, rise in number of cyber-attacks and lack of awareness of digital technology in rural areas are the major factors restraining the market growth. Moreover, increased speculation in R&D and new technological innovations in the field of virtual reality and augmented reality is going to develop the visualization of a digital twin is anticipated to open innovative opportunities in the market.

Some of the key players in Digital Twins Market include:

Sap, IBM, Microsoft, Oracle, GE, Amazon Web Services, Sight Machine, Siemens, Virtalis, Robert Bosch GmbH, Prodea Systems, Toshiba Corporation, AUCOTEC, PTC, Dassault Systèmes, Computer Systems Institute, DNV GL – Maritime, Autodesk, COSMO, SAS, ANSYS, Inc., CADFEM GmbH, Allerin Tech Pvt Ltd and Altair

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Digital twin means digital duplication of physical property, process and system which can be used for various purposes. The digital depiction provides both the fundamentals and the dynamics of how an Internet of Things device operates and lives during its life cycle. This technology is the one of the most lucrative markets in the existing century. This technology has the capability to record, organize, and monitor dynamic process, product or a service by creating a theoretical model using simulation software’s and computer-based aids.

By End User, Electronics and electrical/machine manufacturing section is anticipated to grow high due to the rising need of digitalization for the designing and manufacturing process of electronic equipment such as generators, printers, computers, motors, industrial machines, transformers and home electronic machines, along with the after-sale services which lead to a significant growth for the market.

By Geography, the market in APAC is rising at the maximum CAGR due to the high rate of implementation of digital twins capable of connecting data gathered from sensors with IoT cloud. The digital twin technology market will be dominated by the North America due to the mounting adoption of the IoT technology by several large and medium scale organizations. The use of digital twin technology helps in improving the overall operational performance.

Technologies Covered:

DTS-Si, Predix, APDV and Other Technologies

Applications Covered:

Dynamic Optimization, Product Design and Development, Predictive Maintenance, Machine and Equipment Health Monitoring and Other Applications

End Users Covered:

Retail and Consumer Goods, Electronics & Electrical, Energy and Utilities, Home and Commercial, Automotive and Transportation, Machine Manufacturing, Agriculture and Other End Users

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Table of Content

1 Executive Summary

2 Preface

3 Market Trend Analysis

4 Porters Five Force Analysis

5 Global Digital Twins Market, By Equipment Type

6 Global Digital Twins Market, By Application

7 Global Digital Twins Market, By Geography

8 Key Developments

9 Company Profiling

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Reasons To Buy This Report:

  1. To get a comprehensive overview of the Digital Twins market.
  2. To gain information about the top players in this industry, their product portfolios, and their key strategies.
  3. To gain insights about the major regional insights in which the Digital Twins is flourishing.
  4. Recent industry trends and developments
  5. Potential and niche segments/regions exhibiting promising growth

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