Dec 29, 2022   SOURCE: BusinessWire

Global Digital Twin Market Report 2022-2027: Growing Adoption of Industry 4.0 and IIoT for Design and Manufacturing Presents Opportunities - ResearchAndMarkets.com

The "Global Digital Twin Market (2022-2027) by Type, Application, Industry, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Digital Twin Market is estimated to be USD 2.64 Bn in 2022 and expected to reach USD 4.83 Bn by 2027, growing at a CAGR of 12.86%.

Market Dynamics

Drivers

  • Decreasing Time and Cost of Product Development and Unplanned Downtime with the Adoption of Digital Twin
  • Adoption of Emerging Technologies Such as IoT and Cloud
  • Growing Use of Digital Twin for Predictive Maintenance

Restraints

  • High Investments Associated with the Implementation of Digital Twin Technology

Opportunities

  • Growing Adoption of Industry 4.0 and IIoT for Design and Manufacturing
  • Innovations in the Field of Virtual Reality (VR) and Augmented Reality (AR)

Challenges

  • Limited Awareness regarding the Cost Benefits of Digital Twin Adoption
  • Dearth of Skilled Workforce and Technical Knowledge 

Market Segmentations

The Global Digital Twin Market is segmented based on Type, Application, Industry, and Geography.

  • By Type, the market is classified into Process Digital Twin, Product Digital Twin, and System Digital Twin.
  • By Application, the market is classified into Machine & Equipment Health Monitoring, Process Support & Service and Product Design & Development.
  • By Industry, the market is classified into Aerospace & Defense, Agriculture, Automotive & Transportation, Energy & Utilities, Healthcare & Life Sciences, Manufacturing, Oil & Gas, Residential & Commercial, and Retails & Consumer Good.
  • By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Digital Twin Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Digital Twin Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Digital Twin Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Dynamics

5 Market Analysis

6 Global Digital Twin Market, By Type

7 Global Digital Twin Market, By Application

8 Global Digital Twin Market, By Industry

9 Americas' Digital Twin Market

10 Europe's Digital Twin Market

11 Middle East and Africa's Digital Twin Market

12 APAC's Digital Twin Market

13 Competitive Landscape

14 Company Profiles

15 Appendix

Companies Mentioned

  • ABB Ltd.
  • Autodesk, Inc.
  • Altair Engineering Inc.
  • AllVision
  • Andritz Group
  • Amazon Web Services, Inc.
  • ANSYS Inc.
  • Bentley Systems, Inc.
  • Dassault Systemes SE
  • DNV company group
  • Emerson Electric Co.
  • General Electric Co.
  • Honeywell International Inc.
  • IBM Corp.
  • Johnson Controls
  • MEIK Labs
  • Microsoft Corp.
  • Navvis
  • Oracle Corp.
  • PTC Inc.
  • Robert Bosch GmbH
  • SAP SE
  • Schneider Electric SE
  • Siemens Ag
  • Swin AI
  • Tunnelware
  • Wipro Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/dmv16b

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