Digital Twins Market Scope And Analysis

Report Code : TIPRE00017045
Category : Technology, Media and Telecommunications

Status : Published
No. of Pages : 185

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Digital Twin Market Scope and Key Players Analysis by 2031

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Digital Twin Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 10.30 Billion
Market Size by 2031	US$ 140.93 Billion
Global CAGR (2023 - 2031)	38.7%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Type Asset Twins System Twins Process Twin Parts/Component Twin By Enterprise Size Large Enterprises SMEs By End User Manufacturing Sector Automotive Sector Aerospace & Defense Sector Healthcare Sector Retail Sector
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	General Electric Co Microsoft Corp Siemens AG Dassault Systemes SE PTC Inc Robert Bosch GmbH International Business Machines Corp Oracle Corp Ansys Inc Autodesk Inc

Digital Twin Market News and Recent Developments

The digital twin market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the digital twin market are listed below:

Siemens and Microsoft announced their commitment to converge the digital twin definition language (DTDL) with the Thing Description standard from international standards organization W3C. By unifying both languages, customers are offered consistent modeling experiences, mitigating fragmentation in an evolving IoT landscape. With customers typically deploying a mix of vendors in their infrastructure, leading to lock-in and high integration efforts, this convergence will allow for simpler system integration and interoperability.

(Source: Siemens, Press Release, April 2024)

Helixx, a new UK-based global technology company, selected the Siemens Xcelerator portfolio of industry software and services to assist in the design, development, validation, delivery, and management of its innovative electric vehicle manufacturing system.

(Source: Helixx, Press Release, June 2023)

Digital Twin Market Report Coverage and Deliverables

The "Digital Twin Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:

Digital twin market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
Digital twin market trends as well as market dynamics such as drivers, restraints, and key opportunities
Detailed PEST/Porter’s Five Forces and SWOT analysis
Digital twin market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the digital twin market
Detailed company profiles