Global Digital Twin Market Outlook Report 2022: Market to Grow with a CAGR of 44.2%, Growing to $284 Billion in 2031 from $7.87 Billion in 2021 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 6, 2022--
The "Global Digital Twin Market Outlook 2031" report has been added to ResearchAndMarkets.com's offering.
The global digital twin market is anticipated to grow with a CAGR of 44.2% over the forecast period, i.e., 2022-2031. The market is estimated to garner a revenue of more than USD 284500 Million by the end of 2031, up from a revenue of near to USD 7870 Million.
Factors such as rise in demand for digital twin in healthcare and pharmaceutical sector, followed by transition towards digitalization are projected to drive the growth of market in the coming years. Additionally, rise in adoption of industry 4.0 to save energy, and increasing focus on partnership and product launch are also expected to boost the market trend.
The global digital twin market is segmented into numerous segment, which includes segmentation by type, technology, function, deployment, component, end-user, and by region. By technology, the market is segmented into augmented reality & virtual reality, IoT & IIoT, artificial intelligence & machine learning, big data analytics, and others. By the end of 2031, the IoT & IIoT segment is anticipated to garner the largest revenue of close to USD 79740 Million, up from a revenue of about USD 1,440 Million in 2021.
The market in the Asia Pacific is anticipated to garner the largest revenue of more than USD 88,480 Million by the end of 2031. Moreover, in the year 2021, the market in the Asia Pacific region generated a revenue of over USD 1,760 Million.
Some of the prominent industry leaders in the global digital twin market are
- Accenture plc
- IBM Corporation
- Atos SE
- General Electric
- Microsoft Corporation
- DXC Technology Company
- Infosys Limited
- SAP SE
- SAS Institute Inc.
- Gemini Digital Technologies
- Tata Consultancy Services Limited
- ANSYS Inc.
- Toshiba Digital Solutions Corporation
- Matterport Inc.
- Oracle Corporation
- Honeywell International Inc.
- Dassault Systemes S.A.
Key Topics Covered:
1. Market Definition
2. Assumptions and Acronyms
3. Research Methodology
4. Executive Summary - Global Digital Twin Market
5. Market Dynamics
6. Key Market Opportunities
7. Major Roadblocks for the Market Growth
8. Regulatory and Standards Landscape
9. Industry Risk Analysis
10. Recent Developments in the Digital Twin Market
11. Use Case Analysis
12. Regional Demand Analysis
13. Competitive Positioning
14. Competitive Structure
For more information about this report visit https://www.researchandmarkets.com/r/rjbxqg
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KEYWORD:
INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ARTIFICIAL INTELLIGENCE IOT (INTERNET OF THINGS)
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/06/2022 08:33 AM/DISC: 12/06/2022 08:33 AM
http://www.businesswire.com/news/home/20221206005662/en
