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Market Research Report
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1009488

North America Digital Twin Market By Type, By Application, By Industry, By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027

Published: | KBV Research | 123 Pages | Delivery time: 1-2 business days

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North America Digital Twin Market By Type, By Application, By Industry, By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
Published: May 31, 2021
KBV Research
Content info: 123 Pages
Delivery time: 1-2 business days
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  • Description
  • Table of Contents
Description

The North America Digital Twin Market would witness market growth of 40.9% CAGR during the forecast period (2021-2027).

Digital twin comprises location-based systems, software like CAD, FEM, and analytics; products such as computing devices, and wearable devices AR / VR. It also includes sensing technologies such as sensors and gauges, manage Measuring Machines, vision systems, lasers, and scanning devices, and other associated services. It excludes guesswork from evaluating the service critical physical resources, from engines to power turbines. As this intelligence can easily access assets so it ensures broader optimization options and leads to business transformation.

Digital twin technology is required across all industries in which value lies in the assets and more complex systems. Its capability to offer early predictions, warnings, and optimization that is presently used with external operating assets. Additional benefits of the digital twin concept include its ability to use historical data and current data, so that a whole picture of a specific asset, its earlier performance, what it should be achieving now, and its expected end of life date, when it can be predicted to be less efficient.

The market instability is increasing, and customer expectations and advancement in technology are key factors that are driving businesses from everywhere to transformation. If compared to other regions, in North America there is significant adoption of digital twin technology. The market of the digital twin is likely to witness progress in this region over the forecast period. As the healthcare industry in North America is very advanced and is characterized by the extensive use of technology, hence, it is expected that the healthcare sector of North America will be among the early adopters of the digital twin. The European market also has a flourishing automotive industry and rising biotechnology industry in this region. Therefore, the demand for digital twin technology is likely to boost in North America in the forecast period.

The US market dominated the North America Healthcare & Life Sciences Digital Twin Market by Country 2020, thereby, achieving a market value of $1,718.6 million by 2027. The Canada market is experiencing a CAGR of 45.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 43.9% during (2021 - 2027).

Based on Type, the market is segmented into System, Process and Product. Based on Application, the market is segmented into Predictive Maintenance & Performance Monitoring, Business Optimization, Inventory Management, Product Design & Development and Others. Based on Industry, the market is segmented into Automotive & Transportation, Residential & Commercial, Healthcare & Life Sciences, Manufacturing, Energy & Power, Agriculture, Retail & Consumer Goods and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., SAP SE, PTC, Inc., General Electric (GE) Co., IBM Corporation, Oracle Corporation, Siemens AG, Robert Bosch GmbH, Microsoft Corporation, and ABB Group.

Scope of the Study

Market Segments covered in the Report:

By Type

  • System
  • Process
  • Product

By Application

  • Predictive Maintenance & Performance Monitoring
  • Business Optimization
  • Inventory Management
  • Product Design & Development
  • Others

By Industry

  • Automotive & Transportation
  • Residential & Commercial
  • Healthcare & Life Sciences
  • Manufacturing
  • Energy & Power
  • Agriculture
  • Retail & Consumer Goods
  • Others

By Country

  • US
  • Canada
  • Mexico
  • Rest of North America

Companies Profiled

  • Honeywell International, Inc.
  • SAP SE
  • PTC, Inc.
  • General Electric (GE) Co.
  • IBM Corporation
  • Oracle Corporation
  • Siemens AG
  • Robert Bosch GmbH
  • Microsoft Corporation
  • ABB Group

Unique Offerings from KBV Research

  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free
Table of Contents

Table of Contents

Chapter 1. Market Scope & Methodology

  • 1.1 Market Definition
  • 1.2 Objectives
  • 1.3 Market Scope
  • 1.4 Segmentation
    • 1.4.1 North America Digital Twin Market, by Type
    • 1.4.2 North America Digital Twin Market, by Application
    • 1.4.3 North America Digital Twin Market, by Industry
    • 1.4.4 North America Digital Twin Market, by Country
  • 1.5 Methodology for the research

Chapter 2. Market Overview

  • 2.1 Introduction
    • 2.1.1 Overview
    • 2.1.2 Market Composition and Scenario
  • 2.2 Key Factors Impacting the Market
    • 2.2.1 Market Drivers
    • 2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global

  • 3.1 KBV Cardinal Matrix
  • 3.2 Recent Industry Wide Strategic Developments
    • 3.2.1 Partnerships, Collaborations and Agreements
    • 3.2.2 roduct Launches and Product Expansions
    • 3.2.3 Geographical Expansions
    • 3.2.4 Acquisition and Mergers
  • 3.3 Top Winning Strategies
    • 3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
    • 3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Feb - 2021, Feb) Leading Players

Chapter 4. North America Digital Twin Market by Industry

  • 4.1 North America Automotive & Transportation Digital Twin Market by Country
  • 4.2 North America Residential & Commercial Digital Twin Market by Country
  • 4.3 North America Healthcare & Life Sciences Digital Twin Market by Country
  • 4.4 North America Manufacturing Digital Twin Market by Country
  • 4.5 North America Energy & Power Digital Twin Market by Country
  • 4.6 North America Agriculture Digital Twin Market by Country
  • 4.7 North America Retail & Consumer Goods Digital Twin Market by Country
  • 4.8 North America Other Industry Digital Twin Market by Country

Chapter 5. North America Digital Twin Market by Type

  • 5.1 North America Digital Twin System Market by Country
  • 5.2 North America Digital Twin Process Market by Country
  • 5.3 North America Digital Twin Product Market by Country

Chapter 6. North America Digital Twin Market by Application

  • 6.1 North America Predictive Maintenance & Performance Monitoring Digital Twin Market by Country
  • 6.2 North America Business Optimization Digital Twin Market by Country
  • 6.3 North America Inventory Management Digital Twin Market by Country
  • 6.4 North America Product Design & Development Digital Twin Market by Country
  • 6.5 North America Others Digital Twin Market by Country

Chapter 7. North America Digital Twin Market by Country

  • 7.1 US Digital Twin Market
    • 7.1.1 US Digital Twin Market by Industry
    • 7.1.2 US Digital Twin Market by Type
    • 7.1.3 US Digital Twin Market by Application
  • 7.2 Canada Digital Twin Market
    • 7.2.1 Canada Digital Twin Market by Industry
    • 7.2.2 Canada Digital Twin Market by Type
    • 7.2.3 Canada Digital Twin Market by Application
  • 7.3 Mexico Digital Twin Market
    • 7.3.1 Mexico Digital Twin Market by Industry
    • 7.3.2 Mexico Digital Twin Market by Type
    • 7.3.3 Mexico Digital Twin Market by Application
  • 7.4 Rest of North America Digital Twin Market
    • 7.4.1 Rest of North America Digital Twin Market by Industry
    • 7.4.2 Rest of North America Digital Twin Market by Type
    • 7.4.3 Rest of North America Digital Twin Market by Application

Chapter 8. Company Profiles

  • 8.1 Honeywell International, Inc.
    • 8.1.1 Company Overview
    • 8.1.2 Financial Analysis
    • 8.1.3 Regional & Segmental Analysis
    • 8.1.4 Research & Development Expenses
    • 8.1.5 Recent strategies and developments:
      • 8.1.5.1 Partnerships, Collaborations, and Agreements:
    • 8.1.6 SWOT Analysis
  • 8.2 SAP SE
    • 8.2.1 Company Overview
    • 8.2.2 Financial Analysis
    • 8.2.3 Segmental and Regional Analysis
    • 8.2.4 Research & Development Expense
    • 8.2.1 Recent strategies and developments:
      • 8.2.1.1 Partnerships, Collaborations, and Agreements:
    • 8.2.2 SWOT Analysis
  • 8.3 PTC, Inc.
    • 8.3.1 Company Overview
    • 8.3.2 Financial Analysis
    • 8.3.3 Segmental and Regional Analysis
    • 8.3.4 Research & Development Expenses
    • 8.3.5 Recent strategies and developments:
      • 8.3.5.1 Partnerships, Collaborations, and Agreements:
      • 8.3.5.2 Acquisition and Mergers:
      • 8.3.5.3 Product Launches and Product Expansions:
  • 8.4 General Electric (GE) Co.
    • 8.4.1 Company Overview
    • 8.4.2 Financial Analysis
    • 8.4.3 Segmental and Regional Analysis
    • 8.4.4 Research & Development Expense
    • 8.4.5 Recent strategies and developments:
      • 8.4.5.1 Partnerships, Collaborations, and Agreements:
      • 8.4.5.2 Acquisition and Mergers:
    • 8.4.6 SWOT Analysis
  • 8.5 IBM Corporation
    • 8.5.1 Company Overview
    • 8.5.2 Financial Analysis
    • 8.5.3 Regional & Segmental Analysis
    • 8.5.4 Research & Development Expenses
    • 8.5.5 Recent strategies and developments:
      • 8.5.5.1 Partnerships, Collaborations, and Agreements:
    • 8.5.6 SWOT Analysis
  • 8.6 Oracle Corporation
    • 8.6.1 Company Overview
    • 8.6.2 Financial Analysis
    • 8.6.3 Segmental and Regional Analysis
    • 8.6.4 Research & Development Expense
    • 8.6.5 SWOT Analysis
  • 8.7 Siemens AG
    • 8.7.1 Company Overview
    • 8.7.2 Financial Analysis
    • 8.7.3 Segmental and Regional Analysis
    • 8.7.4 Research & Development Expense
    • 8.7.5 Recent strategies and developments:
      • 8.7.5.1 Partnerships, Collaborations, and Agreements:
      • 8.7.5.2 Acquisition and Mergers:
    • 8.7.6 SWOT Analysis
  • 8.8 Robert Bosch GmbH
    • 8.8.1 Company Overview
    • 8.8.2 Financial Analysis
    • 8.8.3 Segmental and Regional Analysis
    • 8.8.4 Research & Development Expense
    • 8.8.5 Recent strategies and developments:
      • 8.8.5.1 Geographical Expansions:
    • 8.8.6 SWOT Analysis
  • 8.9 Microsoft Corporation
    • 8.9.1 Company Overview
    • 8.9.2 Financial Analysis
    • 8.9.3 Segmental and Regional Analysis
    • 8.9.4 Research & Development Expenses
    • 8.9.5 Recent strategies and developments:
      • 8.9.5.1 Partnerships, Collaborations, and Agreements:
      • 8.9.5.2 Product Launches and Product Expansions:
    • 8.9.6 SWOT Analysis
  • 8.10. ABB Group
    • 8.10.1 Company Overview
    • 8.10.2 Financial Analysis
    • 8.10.3 Segmental and Regional Analysis
    • 8.10.4 Research & Development Expense
    • 8.10.5 Recent strategies and developments:
      • 8.10.5.1 Partnerships, Collaborations, and Agreements:
      • 8.10.5.2 Product Launches and Product Expansions:
    • 8.10.6 SWOT Analysis

LIST OF TABLES

  • TABLE 1 North America Digital Twin Market, 2017 - 2020, USD Million
  • TABLE 2 North America Digital Twin Market, 2021 - 2027, USD Million
  • TABLE 3 Partnerships, Collaborations and Agreements- Digital Twin Market
  • TABLE 4 Product Launches And Product Expansions- Digital Twin Market
  • TABLE 5 Geographical Expansions- Digital Twin Market
  • TABLE 6 Acquisition and Mergers- Digital Twin Market
  • TABLE 7 North America Digital Twin Market by Industry, 2017 - 2020, USD Million
  • TABLE 8 North America Digital Twin Market by Industry, 2021 - 2027, USD Million
  • TABLE 9 North America Automotive & Transportation Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 10 North America Automotive & Transportation Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 11 North America Residential & Commercial Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 12 North America Residential & Commercial Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 13 North America Healthcare & Life Sciences Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 14 North America Healthcare & Life Sciences Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 15 North America Manufacturing Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 16 North America Manufacturing Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 17 North America Energy & Power Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 18 North America Energy & Power Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 19 North America Agriculture Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 20 North America Agriculture Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 21 North America Retail & Consumer Goods Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 22 North America Retail & Consumer Goods Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 23 North America Other Industry Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 24 North America Other Industry Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 25 North America Digital Twin Market by Type, 2017 - 2020, USD Million
  • TABLE 26 North America Digital Twin Market by Type, 2021 - 2027, USD Million
  • TABLE 27 North America Digital Twin System Market by Country, 2017 - 2020, USD Million
  • TABLE 28 North America Digital Twin System Market by Country, 2021 - 2027, USD Million
  • TABLE 29 North America Digital Twin Process Market by Country, 2017 - 2020, USD Million
  • TABLE 30 North America Digital Twin Process Market by Country, 2021 - 2027, USD Million
  • TABLE 31 North America Digital Twin Product Market by Country, 2017 - 2020, USD Million
  • TABLE 32 North America Digital Twin Product Market by Country, 2021 - 2027, USD Million
  • TABLE 33 North America Digital Twin Market by Application, 2017 - 2020, USD Million
  • TABLE 34 North America Digital Twin Market by Application, 2021 - 2027, USD Million
  • TABLE 35 North America Predictive Maintenance & Performance Monitoring Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 36 North America Predictive Maintenance & Performance Monitoring Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 37 North America Business Optimization Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 38 North America Business Optimization Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 39 North America Inventory Management Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 40 North America Inventory Management Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 41 North America Product Design & Development Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 42 North America Product Design & Development Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 43 North America Others Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 44 North America Others Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 45 North America Digital Twin Market by Country, 2017 - 2020, USD Million
  • TABLE 46 North America Digital Twin Market by Country, 2021 - 2027, USD Million
  • TABLE 47 US Digital Twin Market, 2017 - 2020, USD Million
  • TABLE 48 US Digital Twin Market, 2021 - 2027, USD Million
  • TABLE 49 US Digital Twin Market by Industry, 2017 - 2020, USD Million
  • TABLE 50 US Digital Twin Market by Industry, 2021 - 2027, USD Million
  • TABLE 51 US Digital Twin Market by Type, 2017 - 2020, USD Million
  • TABLE 52 US Digital Twin Market by Type, 2021 - 2027, USD Million
  • TABLE 53 US Digital Twin Market by Application, 2017 - 2020, USD Million
  • TABLE 54 US Digital Twin Market by Application, 2021 - 2027, USD Million
  • TABLE 55 Canada Digital Twin Market, 2017 - 2020, USD Million
  • TABLE 56 Canada Digital Twin Market, 2021 - 2027, USD Million
  • TABLE 57 Canada Digital Twin Market by Industry, 2017 - 2020, USD Million
  • TABLE 58 Canada Digital Twin Market by Industry, 2021 - 2027, USD Million
  • TABLE 59 Canada Digital Twin Market by Type, 2017 - 2020, USD Million
  • TABLE 60 Canada Digital Twin Market by Type, 2021 - 2027, USD Million
  • TABLE 61 Canada Digital Twin Market by Application, 2017 - 2020, USD Million
  • TABLE 62 Canada Digital Twin Market by Application, 2021 - 2027, USD Million
  • TABLE 63 Mexico Digital Twin Market, 2017 - 2020, USD Million
  • TABLE 64 Mexico Digital Twin Market, 2021 - 2027, USD Million
  • TABLE 65 Mexico Digital Twin Market by Industry, 2017 - 2020, USD Million
  • TABLE 66 Mexico Digital Twin Market by Industry, 2021 - 2027, USD Million
  • TABLE 67 Mexico Digital Twin Market by Type, 2017 - 2020, USD Million
  • TABLE 68 Mexico Digital Twin Market by Type, 2021 - 2027, USD Million
  • TABLE 69 Mexico Digital Twin Market by Application, 2017 - 2020, USD Million
  • TABLE 70 Mexico Digital Twin Market by Application, 2021 - 2027, USD Million
  • TABLE 71 Rest of North America Digital Twin Market, 2017 - 2020, USD Million
  • TABLE 72 Rest of North America Digital Twin Market, 2021 - 2027, USD Million
  • TABLE 73 Rest of North America Digital Twin Market by Industry, 2017 - 2020, USD Million
  • TABLE 74 Rest of North America Digital Twin Market by Industry, 2021 - 2027, USD Million
  • TABLE 75 Rest of North America Digital Twin Market by Type, 2017 - 2020, USD Million
  • TABLE 76 Rest of North America Digital Twin Market by Type, 2021 - 2027, USD Million
  • TABLE 77 Rest of North America Digital Twin Market by Application, 2017 - 2020, USD Million
  • TABLE 78 Rest of North America Digital Twin Market by Application, 2021 - 2027, USD Million
  • TABLE 79 Key information - Honeywell International, Inc.
  • TABLE 80 Key Information - SAP SE
  • TABLE 81 key Information - PTC, Inc.
  • TABLE 82 Key Information - General Electric (GE) Co.
  • TABLE 83 Key information - IBM Corporation
  • TABLE 84 Key Information - Oracle Corporation
  • TABLE 85 Key Information - Siemens AG
  • TABLE 86 key information - Robert Bosch GmbH
  • TABLE 87 key information - Microsoft Corporation
  • TABLE 88 Key Information - ABB Group

List of Figures

  • FIG 1 Methodology for the research
  • FIG 2 KBV Cardinal Matrix
  • FIG 3 Key Leading Strategies: Percentage Distribution (2016-2020)
  • FIG 4 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Feb - 2021, Feb) Leading Players
  • FIG 5 Swot analysis: Honeywell international, inc.
  • FIG 6 SWOT Analysis: SAP SE
  • FIG 7 Recent strategies and developments: PTC, Inc.
  • FIG 8 Recent strategies and developments: General Electric (GE) Co.
  • FIG 9 Swot analysis: General electric (GE) Co.
  • FIG 10 Swot analysis: IBM Corporation
  • FIG 11 SWOT analysis: Oracle Corporation
  • FIG 12 Recent strategies and developments: Siemens AG
  • FIG 13 Swot analysis: Siemens AG
  • FIG 14 Swot analysis: Robert bosch gmbh
  • FIG 15 Recent strategies and developments: Microsoft Corporation
  • FIG 16 SWOT Analysis: Microsoft Corporation
  • FIG 17 Recent strategies and developments: ABB Group
  • FIG 18 SWOT Analysis: ABB Group