Digital Twin Market By Type (Process Digital Twin, Product Digital Twin, System Digital Twin, Others), By Application (Performance Monitoring, Inventory Management, Predictive Maintenance, Business Optimization, Others), By Industry Verticals (Aerospace & Defense, Residential, Automotive & Transportation, Healthcare, Retail, Oil & Gas, Agriculture, Energy & Utilities, Others) – Growth, Future Prospects And Competitive Analysis, 2019 – 2027

Published: | Report ID: 5026 | Report Format : PDF

Increasing Adoption of IoT in Various Industry Verticals is expected to spur the Digital Twin Market.

The global digital twin market was valued at US$ 3.76 Bn in 2018 and is expected to reach US$ 57.38 Bn by 2027, expanding at a CAGR of 37.1% during the forecast from 2019 to 2027. A digital twin is a virtual replica of the physical system that continually adapts the environmental changes and delivers the best business outcome in real-time. Therefore, it is an ideal way to analyze, access, and structure complex-product-related data. The Internet of Things (IoT) makes digital twins feasible because it is now possible to collect a large volume of data from a wider range of products across the world. Because of same, the rapid adoption of IoT is an important factor accelerating the adoption of the digital twin. In addition, other technologies such as artificial intelligence augmented & virtual reality, cloud computing, and APIs & open standards are enabling the digital twin significantly.

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Market Synopsis

Healthcare Segment is predicted to flourish at a Rapid Pace during the Forecast Period.

Healthcare is expected to be the most lucrative sector, registering a CAGR of nearly 40% during the forecast period. The researchers have explored the new potential of digital twin technology to study body parts modeling along with drug modeling. It helps doctors analyze the effect of invasive tests and new therapies on the human body virtually. Moreover, a dynamic shift towards patient monitoring in the UK, Germany, the U.S., and other countries is driving segment growth in the coming years. A recent survey by Becker’s Healthcare revealed that 92% of healthcare consumers consider improved patient experience their top priority. Additionally, strategic partnerships between healthcare solution developers and digital twin vendors are embracing the significant impact of digital twin technology on the healthcare sector. For instance, in August 2018, Sim&Cure, a healthcare software developer, in partnership with ANSYS, developed a digital twin for the treatment of brain aneurysms.

North America held the Largest Revenue Share in the year 2018

In 2018, North America dominated the global digital twin market with around 35% of the overall market revenue share. However, the region is constrained by technically advanced countries coupled with a significant presence of market leaders such as IBM Corp., Microsoft Corp., General Electric, and more are some of the leading factors guiding the prominent regional growth. Europe stood second in the digital twin market with approximately 25% of the revenue share. On the contrary, Asia Pacific is the most opportunistic region owing to favorable government policies for adopting IoT and digital twins.

Key Players & Competitive Landscape:

The global digital twin market is highly fragmented due to several regional and multinational players. However, some the companies such as IBM Corp., General Electric, Oracle Corp., SAP SE, and Microsoft Corp. have a monopoly in the market. Being leaders of existing and emerging digital technologies, they acquire approximately 50% of the market share. In addition, high spending on R&D by market leaders, along with the emergence of new entrants, has turned the market highly competitive.

Some of the major market players listed in the global digital twin market report include ABB Group, IBM Corporation, Microsoft Corporation, Oracle Corporation, General Electric Company, Rockwell Automation, SAP SE, Siemens AG, Infosys Ltd., Dassault Systemes, Ansys Inc., Accenture Plc. and Autodesk Inc. among others.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.

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Report Scope by Segments

The digital twin market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-around view of the global digital twin market based on type, application, industry verticals, and geography.

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global DT Market
2.2. Global DT Market, by Type, 2018 (US$ Bn)
2.3. Global DT Market, by Application, 2018 (US$ Bn)
2.4. Global DT Market, by Industry Verticals, 2018 (US$ Bn)
2.5. Global DT Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global DT Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Digital Twin (DT) Market, by Type, 2017-2027 (US$ Bn)
4.1. Process DT
4.2. Product DT
4.3. System DT
4.4. Others

5. Global Digital Twin (DT) Market, by Application, 2017-2027 (US$ Bn)
5.1. Performance Monitoring
5.2. Inventory Management
5.3. Predictive Maintenance
5.4. Business Optimization
5.5. Others

6. Global Digital Twin (DT) Market, by Industry Verticals, 2017-2027 (US$ Bn)
6.1. Aerospace & Defense
6.2. Residential
6.3. Automotive & Transportation
6.4. Healthcare
6.5. Retail
6.6. Oil & Gas
6.7. Agriculture
6.8. Energy & Utilities
6.9. Others

7. North America Digital Twin (DT) Market Analysis, 2017-2027 (US$ Bn)
7.1. Overview
7.1.1. North America DT Market Value and Growth, 2017-2027, (US$ Bn)
7.2. North America DT Market Value, By Type, 2017-2027 (US$ Bn)
7.2.1. Process DT
7.2.2. Product DT
7.2.3. System DT
7.2.4. Others
7.3. North America DT Market Value, By Application, 2017-2027 (US$ Bn)
7.3.1. Performance Monitoring
7.3.2. Inventory Management
7.3.3. Predictive Maintenance
7.3.4. Business Optimization
7.3.5. Others
7.4. North America DT Market Value, By Industry Verticals, 2017-2027 (US$ Bn)
7.4.1. Aerospace & Defense
7.4.2. Residential
7.4.3. Automotive & Transportation
7.4.4. Healthcare
7.4.5. Retail
7.4.6. Oil & Gas
7.4.7. Agriculture
7.4.8. Energy & Utilities
7.4.9. Others
7.5. North America DT Market Value, By Country/ Region, 2017-2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Digital Twin (DT) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. Europe DT Market Value and Growth, 2017-2027, (US$ Bn)
8.2. Europe DT Market Value, By Type, 2017-2027 (US$ Bn)
8.2.1. Process DT
8.2.2. Product DT
8.2.3. System DT
8.3. Europe DT Market Value, By Application, 2017-2027 (US$ Bn)
8.3.1. Performance Monitoring
8.3.2. Inventory Management
8.3.3. Predictive Maintenance
8.3.4. Business Optimization
8.3.5. Others
8.4. Europe DT Market Value, By Industry Verticals, 2017-2027 (US$ Bn)
8.4.1. Aerospace & Defense
8.4.2. Residential
8.4.3. Automotive & Transportation
8.4.4. Healthcare
8.4.5. Retail
8.4.6. Oil & Gas
8.4.7. Agriculture
8.4.8. Energy & Utilities
8.4.9. Others
8.5. Europe DT Market Value, By Country/ Region, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Digital Twin (DT) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific DT Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Asia Pacific DT Market Value, By Type, 2017-2027 (US$ Bn)
9.2.1. Process DT
9.2.2. Product DT
9.2.3. System DT
9.3. Asia Pacific DT Market Value, By Application, 2017-2027 (US$ Bn)
9.3.1. Performance Monitoring
9.3.2. Inventory Management
9.3.3. Predictive Maintenance
9.3.4. Business Optimization
9.3.5. Others
9.4. Asia Pacific DT Market Value, By Industry Verticals, 2017-2027 (US$ Bn)
9.4.1. Aerospace & Defense
9.4.2. Residential
9.4.3. Automotive & Transportation
9.4.4. Healthcare
9.4.5. Retail
9.4.6. Oil & Gas
9.4.7. Agriculture
9.4.8. Energy & Utilities
9.4.9. Others
9.5. Asia Pacific DT Market Value, By Country/ Region, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Digital Twin (DT) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World DT Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Rest of the World DT Market Value, By Type, 2017-2027 (US$ Bn)
10.2.1. Process DT
10.2.2. Product DT
10.2.3. System DT
10.3. Rest of the World DT Market Value, By Application, 2017-2027 (US$ Bn)
10.3.1. Performance Monitoring
10.3.2. Inventory Management
10.3.3. Predictive Maintenance
10.3.4. Business Optimization
10.3.5. Others
10.4. Rest of the World DT Market Value, By Industry Verticals, 2017-2027 (US$ Bn)
10.4.1. Aerospace & Defense
10.4.2. Residential
10.4.3. Automotive & Transportation
10.4.4. Healthcare
10.4.5. Retail
10.4.6. Oil & Gas
10.4.7. Agriculture
10.4.8. Energy & Utilities
10.4.9. Others
10.5. Rest of the World DT Market Value, By Region, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. ABB Group
11.2. IBM Corporation
11.3. Microsoft Corporation
11.4. Oracle Corporation
11.5. General Electric Company
11.6. Rockwell Automation
11.7. SAP SE
11.8. Siemens AG
11.9. Infosys Ltd.
11.10. Dassault Systemes
11.11. Ansys Inc.
11.12. Accenture Plc
11.13. Autodesk Inc.

List of Figures

FIG. 1 Global Digital Twin (DT) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global DT Market Segmentation
FIG. 4 Global DT Market, by Type, 2018 (US$ Bn)
FIG. 5 Global DT Market, by Application, 2018 (US$ Bn)
FIG. 6 Global DT Market, by Industry Verticals, 2018 (US$ Bn)
FIG. 7 Global DT Market, by Geography, 2018 (US$ Bn)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key DT Market Players, 2018
FIG. 10 Global DT Market Value Share, by Type, 2018 & 2027 (Value %)
FIG. 11 Global DT Market for Process DT, 2017–2027 (US$ Bn)
FIG. 12 Global DT Market for Product DT, 2017–2027 (US$ Bn)
FIG. 13 Global DT Market for System DT, 2017–2027 (US$ Bn)
FIG. 14 Global DT Market Value Share, by Application, 2018 & 2027 (Value %)
FIG. 15 Global DT Market for Performance Monitoring, 2017–2027 (US$ Bn)
FIG. 16 Global DT Market for Inventory Management, 2017–2027 (US$ Bn)
FIG. 17 Global DT Market for Predictive Maintenance, 2017–2027 (US$ Bn)
FIG. 18 Global DT Market for Business Optimization, 2017–2027 (US$ Bn)
FIG. 19 Global DT Market for Others, 2017–2027 (US$ Bn)
FIG. 20 Global DT Market Value Share, by Industry Verticals, 2018 & 2027 (Value %)
FIG. 21 Global DT Market for Aerospace & Defense, 2017–2027 (US$ Bn)
FIG. 22 Global DT Market for Residential, 2017–2027 (US$ Bn)
FIG. 23 Global DT Market for Automotive & Transportation, 2017–2027 (US$ Bn)
FIG. 24 Global DT Market for Healthcare, 2017–2027 (US$ Bn)
FIG. 25 Global DT Market for Retail, 2017–2027 (US$ Bn)
FIG. 26 Global DT Market for Oil & Gas, 2017–2027 (US$ Bn)
FIG. 27 Global DT Market for Agriculture, 2017–2027 (US$ Bn)
FIG. 28 Global DT Market for Energy & Utilities, 2017–2027 (US$ Bn)
FIG. 29 Global DT Market for Others, 2017–2027 (US$ Bn)
FIG. 30 North America DT Market, 2017–2027 (US$ Bn)
FIG. 31 Europe DT Market, 2017–2027 (US$ Bn)
FIG. 32 Asia Pacific DT Market, 2017–2027 (US$ Bn)
FIG. 33 RoW DT Market, 2017–2027 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Digital Twin (DT) Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global DT Market, by Type, 2017–2027 (US$ Bn)
TABLE 5 Global DT Market, by Application, 2017–2027 (US$ Bn)
TABLE 6 Global DT Market, by Industry Verticals, 2017–2027 (US$ Bn)
TABLE 7 Global DT Market, by Geography, 2017–2027 (US$ Bn)
TABLE 8 North America DT Market, by Type, 2017–2027 (US$ Bn)
TABLE 9 North America DT Market, by Application, 2017–2027 (US$ Bn)
TABLE 10 North America DT Market, by Industry Verticals, 2017–2027 (US$ Bn)
TABLE 11 North America DT Market, by Country/ Region, 2017–2027 (US$ Bn)
TABLE 12 Europe DT Market, by Type, 2017–2027 (US$ Bn)
TABLE 13 Europe DT Market, by Application, 2017–2027 (US$ Bn)
TABLE 14 Europe DT Market, by Industry Verticals, 2017–2027 (US$ Bn)
TABLE 15 Europe DT Market, by Country/ Region, 2017–2027 (US$ Bn)
TABLE 16 Asia Pacific DT Market, by Type, 2017–2027 (US$ Bn)
TABLE 17 Asia Pacific DT Market, by Application, 2017–2027 (US$ Bn)
TABLE 18 Asia Pacific DT Market, by Industry Verticals, 2017–2027 (US$ Bn)
TABLE 19 Asia Pacific DT Market, by Country/ Region, 2017–2027 (US$ Bn)
TABLE 20 Rest of the World DT Market, by Type, 2017–2027 (US$ Bn)
TABLE 21 Rest of the World DT Market, by Application, 2017–2027 (US$ Bn)
TABLE 22 Rest of the World DT Market, by Industry Verticals, 2017–2027 (US$ Bn)
TABLE 23 Rest of the World DT Market, by Region, 2017–2027 (US$ Bn)
TABLE 24 ABB Group: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 25 IBM Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 26 Microsoft Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 27 Oracle Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 28 General Electric Company: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 29 Rockwell Automation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 30 SAP SE: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 31 Siemens AG: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 32 Infosys Ltd. : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 33 Dassault Systemes: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 34 Ansys Inc. : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 35 Accenture Plc: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 36 Autodesk Inc. : Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

Frequently Asked Questions

What is the size of Digital Twin Market?

The market for Digital Twin is expected to reach US$ 57.38 Bn by year 2027.

What is the Digital Twin Market CAGR?

The Digital Twin market is expected to see significant CAGR growth over the coming years, at 37.1%.

What is the Forecast period considered for Digital Twin Market?

The report is forecasted from 2019-2027.

What is the base year considered for Digital Twin Market?

The base year of this report is 2018.

Who are the major players in this market?

ABB Group, IBM Corporation, Microsoft Corporation, Oracle Corporation, General Electric Company, Rockwell Automation, SAP SE, Siemens AG, Infosys Ltd. are some of the major players in the global market.

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