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Market Research Report
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1018672

Global Digital Twin Market Forecast 2021-2028

Published: | Inkwood Research | 210 Pages | Delivery time: 2-3 business days

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Global Digital Twin Market Forecast 2021-2028
Published: July 19, 2021
Inkwood Research
Content info: 210 Pages
Delivery time: 2-3 business days
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  • Description
  • Table of Contents
Description

KEY FINDINGS

The global digital twin market is estimated to project a CAGR of 34.03% during the forecast period, 2021-2028. The adoption of industrial IoT, remote access to assets, easy monitoring of projects, and time utilization and efficiency improvement are the factors propelling the market growth.

MARKET INSIGHTS

A digital twin entails data & simulation models and sensors directly connected to the original. This facilitates the enhancement of time consumed, robustness, performance, sustainability, and efficiency of the process, facility, and asset.

Digital twin facilitates better products to be developed in less time since simulation technology accelerates design and testing before physical prototypes are produced. Also, virtual designs enable developers to try and compare more configurations than physical models. The digital twin also makes it possible to increase the energy efficiency of a new building. These include budgets, data, schedules, energy supply, fire protection, operations, and lighting of the building. Moreover, the technology helps simulate a virtual model using all the real-time energy consumption data of the residents with regard to smart buildings. Such aspects drive the demands in global digital twin market growth. However, the implementation costs and data security risks hamper the market growth.

REGIONAL INSIGHTS

The global digital twin market growth evaluation includes the analysis of Europe, Asia-Pacific, North America, and Rest of World. North America is the dominating region in the global market, with the growing demand for the digital twin from several industries like aviation, automation, and manufacturing.

COMPETITIVE INSIGHTS

The leading global and regional players are investing heavily in research and development activities to introduce innovative solutions to the market. Some eminent market players include Capgemini, ABB Ltd, Amazon Web Services Inc, Alphabet Inc (Google), Accenture, etc.

Our report offerings include:

  • Explore key findings of the overall market
  • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
  • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
  • Market Segmentation cater to a thorough assessment of key segments with their market estimations
  • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
  • Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
  • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
  • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Table of Contents
Product Code: 38509

TABLE OF CONTENTS

1. RESEARCH SCOPE & METHODOLOGY

  • 1.1. STUDY OBJECTIVES
  • 1.2. SCOPE OF STUDY
  • 1.3. METHODOLOGY
  • 1.4. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

  • 2.1. MARKET SIZE & ESTIMATES
  • 2.2. MARKET OVERVIEW

3. MARKET DYNAMICS

  • 3.1. MARKET SCOPE
  • 3.2. KEY DRIVERS
    • 3.2.1. TIME UTILIZATION AND EFFICIENCY IMPROVEMENT
    • 3.2.2. EASE IN CONTINUOUS MONITORING OF PROJECTS
    • 3.2.3. REMOTE ACCESS TO ASSETS
    • 3.2.4. ADOPTION OF INDUSTRIAL IOT
  • 3.3. KEY RESTRAINTS
    • 3.3.1. RISKS RELATED TO DATA SECURITY
    • 3.3.2. IMPLEMENTATION COSTS

4. KEY ANALYTICS

  • 4.1. IMPACT OF COVID-19 ON DIGITAL TWIN MARKET
  • 4.2. KEY MARKET TRENDS
  • 4.3. PORTER'S FIVE FORCES ANALYSIS
    • 4.3.1. BUYERS POWER
    • 4.3.2. SUPPLIERS POWER
    • 4.3.3. SUBSTITUTION
    • 4.3.4. NEW ENTRANTS
    • 4.3.5. INDUSTRY RIVALRY
  • 4.4. OPPORTUNITY MATRIX
  • 4.5. VENDOR LANDSCAPE

5. MARKET BY APPLICATION

  • 5.1. MANUFACTURING PROCESS PLANNING
  • 5.2. PRODUCT DESIGN
  • 5.3. OTHER APPLICATIONS

6. MARKET BY INDUSTRY

  • 6.1. MANUFACTURING
  • 6.2. AUTOMOTIVE
  • 6.3. AVIATION
  • 6.4. ENERGY AND UTILITIES
  • 6.5. HEALTHCARE
  • 6.6. LOGISTICS AND RETAIL
  • 6.7. OTHER INDUSTRIES

7. MARKET BY PRODUCT

  • 7.1. DIGITAL TWIN PLATFORM
  • 7.2. HARDWARE
  • 7.3. SUPPORT SERVICES

8. MARKET BY TYPE

  • 8.1. ASSET DIGITAL TWIN
  • 8.2. PROCESS DIGITAL TWIN
  • 8.3. SYSTEM DIGITAL TWIN

9. GEOGRAPHICAL ANALYSIS

  • 9.1. NORTH AMERICA
    • 9.1.1. MARKET SIZE & ESTIMATES
    • 9.1.2. KEY GROWTH ENABLERS
    • 9.1.3. KEY CHALLENGES
    • 9.1.4. KEY PLAYERS
    • 9.1.5. COUNTRY ANALYSIS
      • 9.1.5.1. UNITED STATES
      • 9.1.5.2. CANADA
  • 9.2. EUROPE
    • 9.2.1. MARKET SIZE & ESTIMATES
    • 9.2.2. KEY GROWTH ENABLERS
    • 9.2.3. KEY CHALLENGES
    • 9.2.4. KEY PLAYERS
    • 9.2.5. COUNTRY ANALYSIS
      • 9.2.5.1. UNITED KINGDOM
      • 9.2.5.2. GERMANY
      • 9.2.5.3. FRANCE
      • 9.2.5.4. ITALY
      • 9.2.5.5. RUSSIA
      • 9.2.5.6. REST OF EUROPE
  • 9.3. ASIA-PACIFIC
    • 9.3.1. MARKET SIZE & ESTIMATES
    • 9.3.2. KEY GROWTH ENABLERS
    • 9.3.3. KEY CHALLENGES
    • 9.3.4. KEY PLAYERS
    • 9.3.5. COUNTRY ANALYSIS
      • 9.3.5.1. CHINA
      • 9.3.5.2. JAPAN
      • 9.3.5.3. INDIA
      • 9.3.5.4. SOUTH KOREA
      • 9.3.5.5. AUSTRALIA & NEW ZEALAND
      • 9.3.5.6. REST OF ASIA-PACIFIC
  • 9.4. REST OF WORLD
    • 9.4.1. MARKET SIZE & ESTIMATES
    • 9.4.2. KEY GROWTH ENABLERS
    • 9.4.3. KEY CHALLENGES
    • 9.4.4. KEY PLAYERS
    • 9.4.5. COUNTRY ANALYSIS
      • 9.4.5.1. LATIN AMERICA
      • 9.4.5.2. MIDDLE EAST & AFRICA

10. COMPETITIVE LANDSCAPE

  • 10.1. KEY STRATEGIC DEVELOPMENTS
    • 10.1.1. MERGERS & ACQUISITIONS
    • 10.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
    • 10.1.3. PARTNERSHIPS, CONTRACTS/AGREEMENTS & COLLABORATIONS
    • 10.1.4. BUSINESS EXPANSIONS
  • 10.2. KEY STRATEGIC DEVELOPMENTS
    • 10.2.1. ABB LTD
    • 10.2.2. ACCENTURE
    • 10.2.3. ALPHABET INC (GOOGLE)
    • 10.2.4. AMAZON WEB SERVICES INC
    • 10.2.5. CAPGEMINI
    • 10.2.6. CISCO SYSTEMS INC
    • 10.2.7. GENERAL ELECTRIC COMPANY
    • 10.2.8. HONEYWELL INTERNATIONAL
    • 10.2.9. IBM CORPORATION
    • 10.2.10. MICROSOFT CORPORATION
    • 10.2.11. PTC INC
    • 10.2.12. SAP SE
    • 10.2.13. SIEMENS AG
    • 10.2.14. WIPRO LIMITED

LIST OF TABLES

  • TABLE 1: MARKET SNAPSHOT - DIGITAL TWIN
  • TABLE 2: GLOBAL DIGITAL TWIN MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 3: GLOBAL MANUFACTURING PROCESS PLANNING MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 4: GLOBAL PRODUCT DESIGN MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 5: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 6: GLOBAL DIGITAL TWIN MARKET, BY INDUSTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 7: GLOBAL MANUFACTURING MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 8: GLOBAL AUTOMOTIVE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 9: GLOBAL AVIATION MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 10: GLOBAL ENERGY AND UTILITIES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 11: GLOBAL HEALTHCARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 12: GLOBAL LOGISTICS AND RETAIL MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 13: GLOBAL OTHER INDUSTRIES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 14: GLOBAL DIGITAL TWIN MARKET, BY PRODUCT, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 15: GLOBAL DIGITAL TWIN PLATFORM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 16: GLOBAL HARDWARE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 17: GLOBAL SUPPORT SERVICES MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 18: GLOBAL DIGITAL TWIN MARKET, BY TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 19: GLOBAL ASSET DIGITAL TWIN MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 20: GLOBAL PROCESS DIGITAL TWIN MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 21: GLOBAL SYSTEM DIGITAL TWIN MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 22: GLOBAL DIGITAL TWIN MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 23: NORTH AMERICA DIGITAL TWIN MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 24: KEY PLAYERS OPERATING IN NORTH AMERICA DIGITAL TWIN MARKET
  • TABLE 25: EUROPE DIGITAL TWIN MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 26: KEY PLAYERS OPERATING IN EUROPE DIGITAL TWIN MARKET
  • TABLE 27: ASIA-PACIFIC DIGITAL TWIN MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 28: KEY PLAYERS OPERATING IN EUROPE DIGITAL TWIN MARKET
  • TABLE 29: REST OF WORLD DIGITAL TWIN MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)
  • TABLE 30: KEY PLAYERS OPERATING IN REST OF WORLD DIGITAL TWIN MARKET

LIST OF FIGURES

  • FIGURE 1: KEY MARKET TRENDS
  • FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
  • FIGURE 3: OPPORTUNITY MATRIX
  • FIGURE 4: VENDOR LANDSCAPE
  • FIGURE 5: GLOBAL DIGITAL TWIN MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020
  • FIGURE 6: GLOBAL DIGITAL TWIN MARKET, BY MANUFACTURING PROCESS PLANNING, 2021-2028 (IN $ MILLION)
  • FIGURE 7: GLOBAL DIGITAL TWIN MARKET, BY PRODUCT DESIGN, 2021-2028 (IN $ MILLION)
  • FIGURE 8: GLOBAL DIGITAL TWIN MARKET, BY OTHER APPLICATIONS, 2021-2028 (IN $ MILLION)
  • FIGURE 9: GLOBAL DIGITAL TWIN MARKET, GROWTH POTENTIAL, BY INDUSTRY, IN 2020
  • FIGURE 10: GLOBAL DIGITAL TWIN MARKET, BY MANUFACTURING, 2021-2028 (IN $ MILLION)
  • FIGURE 11: GLOBAL DIGITAL TWIN MARKET, BY AUTOMOTIVE, 2021-2028 (IN $ MILLION)
  • FIGURE 12: GLOBAL DIGITAL TWIN MARKET, BY AVIATION, 2021-2028 (IN $ MILLION)
  • FIGURE 13: GLOBAL DIGITAL TWIN MARKET, BY ENERGY AND UTILITIES, 2021-2028 (IN $ MILLION)
  • FIGURE 14: GLOBAL DIGITAL TWIN MARKET, BY HEALTHCARE, 2021-2028 (IN $ MILLION)
  • FIGURE 15: GLOBAL DIGITAL TWIN MARKET, BY LOGISTICS AND RETAIL, 2021-2028 (IN $ MILLION)
  • FIGURE 16: GLOBAL OTHER INDUSTRIES MARKET, BY LOGISTICS AND RETAIL, 2021-2028 (IN $ MILLION)
  • FIGURE 17: GLOBAL DIGITAL TWIN MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2020
  • FIGURE 18: GLOBAL DIGITAL TWIN MARKET, BY DIGITAL TWIN PLATFORM, 2021-2028 (IN $ MILLION)
  • FIGURE 19: GLOBAL DIGITAL TWIN MARKET, BY HARDWARE, 2021-2028 (IN $ MILLION)
  • FIGURE 20: GLOBAL DIGITAL TWIN MARKET, BY SUPPORT SERVICES, 2021-2028 (IN $ MILLION)
  • FIGURE 21: GLOBAL DIGITAL TWIN MARKET, GROWTH POTENTIAL, BY TYPE, IN 2020
  • FIGURE 22: GLOBAL DIGITAL TWIN MARKET, BY ASSET DIGITAL TWIN, 2021-2028 (IN $ MILLION)
  • FIGURE 23: GLOBAL DIGITAL TWIN MARKET, BY PROCESS DIGITAL TWIN, 2021-2028 (IN $ MILLION)
  • FIGURE 24: GLOBAL DIGITAL TWIN MARKET, BY SYSTEM DIGITAL TWIN, 2021-2028 (IN $ MILLION)
  • FIGURE 25: NORTH AMERICA DIGITAL TWIN MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
  • FIGURE 26: UNITED STATES DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 27: CANADA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 28: EUROPE DIGITAL TWIN MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
  • FIGURE 29: UNITED KINGDOM DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 30: GERMANY DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 31: FRANCE DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 32: ITALY DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 33: RUSSIA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 34: REST OF EUROPE DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 35: ASIA-PACIFIC DIGITAL TWIN MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
  • FIGURE 36: CHINA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 37: JAPAN DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 38: INDIA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 39: SOUTH KOREA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 40: AUSTRALIA & NEW ZEALAND DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 41: REST OF ASIA-PACIFIC DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 42: REST OF WORLD DIGITAL TWIN MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)
  • FIGURE 43: LATIN AMERICA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)
  • FIGURE 44: MIDDLE EAST & AFRICA DIGITAL TWIN MARKET, 2021-2028 (IN $ MILLION)