Rapid Adoption of Digital Twins Technology in Smart Cities and Automotive Sectors Spurs Market to 2030

DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "Digital Twins: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Digital Twins estimated at US$9.1 Billion in the year 2022, is projected to reach a revised size of US$126.6 Billion by 2030, growing at a CAGR of 39% over the analysis period 2022-2030.

System, one of the segments analyzed in the report, is projected to record a 38.5% CAGR and reach US$62.1 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Product segment is readjusted to a revised 40.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.5 Billion, While China is Forecast to Grow at 52.2% CAGR

The Digital Twins market in the U.S. is estimated at US$3.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$32.5 Billion by the year 2030 trailing a CAGR of 52.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 32.2% and 38.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 33.7% CAGR.

Select Competitors (Total 208 Featured) -

• ABB Ltd.
• Accenture plc
• ANSYS, Inc.
• AT&T Inc.
• AVEVA Group plc
• Bentley Systems, Incorporated
• Bosch.IO GmbH
• Cal-Tek Srl
• Capgemini SE
• Cityzenith
• Dassault Systemes SE
• General Electric (GE Digital)
• Hexagon AB
• Honeywell International Inc.
• IBM Corporation
• Lanner Group Limited
• Mevea Ltd.
• Microsoft Corporation
• Oracle
• PTC Inc.
• Rescale, Inc.
• Rockwell Automation, Inc.
• SAP SE
• Siemens AG
• TIBCO Software Inc.
• XenonStack

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• 2020: A Year of Disruption & Transformation
• As the Race between the Virus & Vaccines Intensifies, Where is the World Economy in 2021
• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• Intriguing Opportunities Ahead for Digital Twin Technology
• How Digital Twin Technology Can Help Businesses to Gain a Competitive Edge
• Digital Twin Technology Trends Big in Built Environment amid COVID-19
• Influencer Market Insights
• Digital Twins - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Digital Twin Technology: A Prelude
• Interoperabilty: Critical to Widespread Use of the Technology
• DTs Aid in Smart Innovation and Help Achieve Sustainability
• Market Outlook
• Recent Industry Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Digital Twins Emerge as an Important Technology for Digital Transformation
• Digital Transformation by Industry: 2020
• Benefits of Adopting Digital Transformation
• Global Digital Transformation Growth (In %)
• Digital Twins: Adding New Dimensions to Product Lifecycle Management
• Digital Twins: A Key Trend in Industry 4.0
• Review of Key Application Areas
• Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
• COVID-19 Impact on Industry 4.0
• Outlook
• Digital Twin Technology Playing an Important Role in Predictive Maintenance
• With Manufacturing Competitiveness Increasing by the Day, PdM is the Right Step Forward Towards to Higher Value, Smart Manufacturing: Global Manufacturing Competitiveness Index (10-100 Index Score) by Country for the Year 2020
• The Age of Analytics Made More Important by COVID-19 Provides the Cornerstone for the Disruptive Growth of Predictive Maintenance
• Industry 4.0 Pushes Up the Effectiveness of Predictive Maintenance
• Market to Witness Unconventional Growth as Effectiveness of Predictive Analytics in Predicting Failure & Maintenance Event Improves on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2020, 2022, 2024, and 2026
• Significant Role of Digital Twins in Helping Organizations Embrace Manufacturing Automation
• The Growing Momentum Towards Manufacturing Automation to Encourage New Pathways to Automating Machine Maintenance: Global Manufacturing Automation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• Surge in Adoption of 3D Printing Technology in Manufacturing Industry
• Artificial Intelligence Remains Integral Component of Digital Twin Technology
• Emphasis on Reducing Project Costs to Drive Uptake of Digital Twin Technology
• Focus on Building Crisis Resilient Smart Cities to Drive Demand for Smart City Digital Twin
• Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
• Growing Role Digital Twin Technology in Curbing Carbon Emissions
• Global Greenhouse Emissions by Sector: 2020
• EXHIBIT : Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 20240, 2045 & 2050
• Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
• Digital Twins Present a Powerful Tool to Simulate & Optimize Retail Supply Chain
• Navigating COVID-19 Disruptions with Digital Twins
• Increasing Use of Digital Twins in Automotive Industry
• Vehicle Electrification Steps up with Digital Twin Technology
• Global Electric Vehicle Sales in 000 Units: 2019-2025
• Digital Twin Technology to Expedite 5G Implementation
• Number of 5G Connections Worldwide: 2020-2025
• Global Mobile Connections by Network Type (in %) for 2019 and 2025
• Global Number of 5G Capex Spending (2018-2022) (in US$ Billion)
• Agriculture Industry Accelerates Advanced Technologies Adoption
• Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2020, 2022, 2024 & 2026
• Aerospace Industry to Take Off with Transformative Potential of Digital Twins
• Digital Twins for Modeling of Real-Life Systems
• Impact of COVID-19 on Aerospace Industry
• COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
• Staged Recovery over Long-Term to Benefit Demand
• Global Aircraft Deliveries by Region: 2021-2040
• Specter of Far-Reaching Digital Twin-Related Implications for Life Sciences Arena
• Cognitive Computing Enhances Capabilities of Digital Twin Technology
• The Current State of Digital Twin Adoption in Civil Infrastructure Sector
• Significant Role of DT in the Energy and Utility Sector
• Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
• Steep Rise Healthcare Spending to Augment Adoption of digital Twins
• World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
• Digital Twins Set to Go Mainstream in Real-Estate Sector

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/3pdu1t

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