Digital twin Market report (2022-2027)

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Digital Twin Market Revenue USD 73.5 billion by 2027

Digital Twin market is expected to grow to USD 73.5 billion by 2027; at a CAGR of 60.6% from 2022 to 2027. Download PDF Brochure

Digital Twin Market Dynamics

Driver Rising emphasis on digital twin in manufacturing industries to reduce cost and improve supply chain operations Restraint High investments associated with implementation of digital twin technology Opportunity Rising emphasis on advanced real-time data analytics Challenge Complexities associated with data collection and mathematical models { "selector": "[data-custom-animation-id=\"fly-in-right-0-0.8\"]", "--x": "calc(100 * 1vw + width())", "--y": "0", "animations": [ { "duration": "0s", "keyframes": [ {"transform": "translate(var(--x), var(--y))"}, {"transform": "translate(var(--x), var(--y))"} ] }, { "delay": "0s", "duration": "0.8s", "easing": "cubic-bezier(0.2, 0.6, 0.0, 1)", "keyframes": [ {"transform": "translate(var(--x), var(--y))"}, {"transform": "translate(0, 0)"} ] } ] } { "selector": "[data-custom-animation-id=\"fly-in-left-0-0.8\"]", "--x": "calc(-100 * 1vw - width())", "--y": "0", "animations": [ { "duration": "0s", "keyframes": [ {"transform": "translate(var(--x), var(--y))"}, {"transform": "translate(var(--x), var(--y))"} ] }, { "delay": "0s", "duration": "0.8s", "easing": "cubic-bezier(0.2, 0.6, 0.0, 1)", "keyframes": [ {"transform": "translate(var(--x), var(--y))"}, {"transform": "translate(0, 0)"} ] } ] } Request Free Sample Report

Digital Twin market in North America is expected to maintain the highest share during 2022–2027

The presence of major digital twin providers in the region such as General Electric (US), Bentley Systems (US), IBM (US), Emerson (US), Microsoft (US), ANSYS (US), Amazon Web Services (US), Altair (US), and Oracle (US) also raises the demand and awareness regarding digital twin solutions. { "selector": "[data-custom-animation-id=\"fly-in-top-0-0.8\"]", "--x": "0", "--y": "calc(-100 * 1vh - height())", "animations": [ { "duration": "0s", "keyframes": [ {"transform": "translate(var(--x), var(--y))"}, {"transform": "translate(var(--x), var(--y))"} ] }, { "delay": "0s", "duration": "0.8s", "easing": "cubic-bezier(0.2, 0.6, 0.0, 1)", "keyframes": [ {"transform": "translate(var(--x), var(--y))"}, {"transform": "translate(0, 0)"} ] } ] }

Key Market Players

General Electric (US), Microsoft (US), Siemens (Germany), Amazon Web Services (US), ANSYS (US), Dassault Systèmes (France), PTC (US), Robert Bosch (Germany), Oracle (US), DNV (Norway), Autodesk (US), SAP (Germany), Emerson (US), ABB (Switzerland), Honeywell (US), IBM (US), Johnson Controls (Ireland), Schneider Electric (France), Software AG (Germany), NavVis (Germany), Bentley Systems (US), Altair (US), SWIM AI (US), River Logic (US), and ANDRITZ (Austria) In April 2022, GE Research (US) and GE Renewable Energy (France), subsidiaries of GE, collaborated and developed a cutting-edge artificial intelligence (AI)/machine learning (ML) technology that has the potential to save the worldwide wind industry billions of dollars in logistical expenses over the next decade. In March 2022, Microsoft announced a strategic partnership with Newcrest. The mining business of Newcrest would adopt Azure as its preferred cloud provider globally, as well as work on digital twins and a sustainability data model.

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