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Market Research Report

Digital Twins: Global Market Demand Across Manufacturing, Aerospace, Connected Vehicles, Smart Cities, Retail, Healthcare, Industrial IoT, and Other Industries

Published by Tractica Product code 859785
Published Content info 61 Pages; 108 Tables, Charts & Figures
Delivery time: 1-2 business days
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Digital Twins: Global Market Demand Across Manufacturing, Aerospace, Connected Vehicles, Smart Cities, Retail, Healthcare, Industrial IoT, and Other Industries
Published: June 3, 2019 Content info: 61 Pages; 108 Tables, Charts & Figures
Description

A digital twin is a digital representation that provides the elements and dynamics of how a device or ecosystem operates and lives throughout its life cycle. Digital twins are useful for simulating the capabilities of machine tools in a safe and cost-effective way, as well as identifying the root causes of problems occurring in physical tools or infrastructure. If a physical machine tool breaks down or malfunctions, engineers can evaluate the digital traces of the digital twins' virtual machines for diagnosis and prognosis.

The digitization of nearly every industry type is helping to fuel the demand for twinning platforms, as is the desire to monitor, control, and model the future behavior of real-world equipment, systems, and environments. However, like any technology, digital twins must be understood and accepted by several different stakeholders, from the operations workers up to the C-suite. Meanwhile, vendors are highlighting their expertise in analytics and demonstrating domain expertise with specific industry verticals. Some are also spotlighting their experience with incorporating artificial intelligence (AI) and machine learning (ML) technologies, which can provide the ability to model future behavior via digital twins. These technologies are anticipated to drive the functionality of digital twins beyond simply being enhanced analytics tools. Global revenue for digital twins is expected to increase to $9.4 billion in 2025, up from $2.4 billion in 2018.

This Tractica report examines 28 use cases for digital twins across industry groups, including manufacturing, aerospace, connected vehicles, smart cities, retail, healthcare, industrial Internet of Things (IoT), and other industries. The report discusses the drivers and barriers related to digital twins, with insight into the growing use of IIoT networks, machine learning technology, and 3D visualization technology. Market forecasts, segmented by world region, use case, and industry, extend through 2025. The study also analyzes the technologies and applications for digital twins and provides profiles of key industry players.

Key Questions Addressed:

  • What are the primary use cases for digital twins that will see the fastest growth through 2025?
  • Which industries will utilize digital twins extensively throughout the forecast period?
  • Which regions of the world will see the highest utilization of digital twins?
  • Which key technologies will enable the use of digital twins?
  • Which vendors are actively working with customers to bring digital twins to the market?
  • What are the key market drivers that have led to the evaluation and use of digital twins?
  • What hurdles or barriers to adoption exist in the market, and how are they being overcome?

Who Needs This Report?

  • Global, regional, and local enterprise companies
  • AI platform and algorithm development companies
  • Industrial IoT platform developers and marketers
  • Digital representation software vendors
  • Digital twin product companies and market planners
  • Professional services companies
  • Investor community
Table of Contents
Product Code: DT-19

Table of Contents

1. Executive Summary

  • 1.1. Introduction
  • 1.2. Market Drivers
  • 1.3. Market Barriers
  • 1.4. Technologies in Use
  • 1.5. Market Forecasts
  • 1.6. Conclusions

2. Market Issues

  • 2.1. Market Drivers
    • 2.1.1. Desire for More Granular Monitoring and Control over Processes, Products, and Systems
    • 2.1.2. Greater Implementation of Internet of Things Sensors and Networks
    • 2.1.3. Availability of More Advanced Data Analytics Tools
    • 2.1.4. Advances in Hardware and Software
    • 2.1.5. Improvements in ML and DL Algorithms
    • 2.1.6. Increased Availability of Cloud-Based Platforms
  • 2.2. Market Barriers
    • 2.2.1. Lack of Experienced Workforce
    • 2.2.2. Cost and Implementation Challenges of Digital Monitoring
    • 2.2.3. Challenges in Getting Buy-In from All Stakeholders
    • 2.2.4. ROI Considerations
    • 2.2.5. Challenges Aligning Goals
  • 2.3. Digital Twin Industry Categories
    • 2.3.1. Manufacturing
      • 2.3.1.1. Product and Process Quality and Improvement
      • 2.3.1.2. Maintenance
      • 2.3.1.3. Energy Management
      • 2.3.1.4. 3D Visualization
    • 2.3.2. Aerospace
      • 2.3.2.1. Aircraft Tracking
      • 2.3.2.2. Development
      • 2.3.2.3. Testing
      • 2.3.2.4. 3D Visualization
    • 2.3.3. Connected Vehicles
      • 2.3.3.1. Driver/Occupant Behavioral Monitoring and Modeling
      • 2.3.3.2. Vehicle Design and Development and Performance Monitoring and Modeling
      • 2.3.3.3. Machine/Vehicular Object Detection/Identification/Avoidance
      • 2.3.3.4. 3D Visualization
    • 2.3.4. Smart Cities
      • 2.3.4.1. Construction/Development Modeling and Planning
      • 2.3.4.2. Infrastructure, Environmental, and Traffic Monitoring and Modeling
      • 2.3.4.3. Energy Management
      • 2.3.4.4. 3D Visualization
    • 2.3.5. Retail
      • 2.3.5.1. Customer Experience/Traffic Flow Monitoring and Modeling
      • 2.3.5.2. Construction/Development Modeling and Planning
      • 2.3.5.3. Customer Twins
      • 2.3.5.4. Loss Prevention
    • 2.3.6. Healthcare
      • 2.3.6.1. Patient Monitoring and Personalized Care
      • 2.3.6.2. Operating and Facilities Environment Monitoring and Modeling
      • 2.3.6.3. Hospital and Clinic Workflow Simulation and Design
      • 2.3.6.4. Organ Twins
    • 2.3.7. Industrial IoT
      • 2.3.7.1. Industrial System Monitoring and Modeling
      • 2.3.7.2. Energy Production, Management, and Distribution
      • 2.3.7.3. Supply Chain Optimization
      • 2.3.7.4. 3D Visualizations
    • 2.3.8. Other Use Cases
      • 2.3.8.1. Multiple Use Cases
      • 2.3.8.2. Blockchain-Enabled Digital Twins
    • 2.3.9. Academic/Commercial Partnership Digital Twin Activity
  • 2.4. Market Ecosystem
    • 2.4.1. Large Automation Vendors
    • 2.4.2. Enterprise Technology Vendors
    • 2.4.3. Independent Software Vendors
    • 2.4.4. Consultants and Service Providers
    • 2.4.5. Specialized Vertical Market Technology Providers

3. Technology Issues

  • 3.1. Digital Twins
  • 3.2. Digital Twin Types
    • 3.2.1. Product/Asset Twins
    • 3.2.2. Production/Process Twins
    • 3.2.3. System/Ecosystem Twins
  • 3.3. Data Sources
    • 3.3.1. IoT Networks
    • 3.3.2. Sensor Data Fusion
  • 3.4. AI Technologies
    • 3.4.1. Machine Learning
    • 3.4.2. Deep Learning
    • 3.4.3. Computer Vision
    • 3.4.4. Natural Language Processing/Understanding
    • 3.4.5. Reinforcement Learning
  • 3.5. 3D/Visualization Technologies

4. Key Industry Players

  • 4.1. Overview
  • 4.2. ANSYS
  • 4.3. Bosch USA
  • 4.4. Cityzenith
  • 4.5. Dassault Systèmes
  • 4.6. Forward Networks
  • 4.7. General Electric
  • 4.8. IBM Watson IoT
  • 4.9. KBMax
  • 4.10. Microsoft Azure
  • 4.11. Oracle
  • 4.12. PTC
  • 4.13. SAP
  • 4.14. Siemens
  • 4.15. Sight Machine
  • 4.16. Sogeti Group
  • 4.17. TIBCO Software
  • 4.18. UrsaLeo
  • 4.19. Zest Labs

5. Market Forecasts

  • 5.1. Overview
  • 5.2. Global Digital Twin Revenue Forecasts
    • 5.2.1. Global Digital Twin Revenue by Region
    • 5.2.2. Global Digital Twin Software Revenue by Industry
    • 5.2.3. Total Global Digital Twin Revenue by Product Type
    • 5.2.4. Digital Twin Software Revenue by Use Case
  • 5.3. Digital Twin Software Revenue by Geographic Region
    • 5.3.1. Digital Twin Software Revenue by Industry, North America
    • 5.3.2. Digital Twin Software Revenue by Industry, Europe
    • 5.3.3. Digital Twin Software Revenue by Industry, Asia Pacific
    • 5.3.4. Digital Twin Revenue by Industry, Latin America
    • 5.3.5. Digital Twin Software Revenue by Industry, Middle East & Africa
  • 5.4. Conclusions and Recommendation

6. Company Directory

7. Acronym and Abbreviation List

8. Table of Contents

9. Table of Charts and Figures

10. Scope of Study, Sources and Methodology, Note

Tables

  • Digital Twin Software Revenue by Region, World Markets: 2018-2025
  • Digital Twin Software Revenue by Industry, World Markets: 2018-2025
  • Total Digital Twin Revenue by Product Type, World Markets: 2018-2025
  • Digital Twin Software Revenue by Use Case, World Markets: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, North America: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Europe: 2018- 2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Latin America: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Middle East & Africa: 2018-2025
  • Total Digital Twin Revenue by Product Type, North America: 2018- 2025
  • Total Digital Twin Revenue by Product Type, Europe: 2018-2025
  • Total Digital Twin Revenue by Product Type, Asia Pacific: 2018- 2025
  • Total Digital Twin Revenue by Product Type, Latin America: 2018- 2025
  • Total Digital Twin Revenue by Product Type, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue by Industry, North America: 2018- 2025
  • Digital Twin Software Revenue by Industry, Europe: 2018-2025
  • Digital Twin Software Revenue by Industry, Asia Pacific: 2018- 2025
  • Digital Twin Software Revenue by Industry, Latin America: 2018- 2025
  • Digital Twin Software Revenue by Industry, Middle East & Africa: 2018-2025

Charts

  • Digital Twin Software Revenue by Region, World Markets: 2018-2025
  • Digital Twin Software Revenue by Industry, World Markets: 2018-2025
  • Total Digital Twin Revenue by Product Type, World Markets: 2018-2025
  • Top 10 Digital Twin Use Cases, by Software Revenue, World Markets: 2018-2025
  • Digital Twin Software Revenue by Industry, North America: 2018-2025
  • Digital Twin Software Revenue by Industry, Europe: 2018-2025
  • Digital Twin Software Revenue by Industry, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue by Industry, Latin America: 2018-2025
  • Digital Twin Software Revenue by Industry, Middle East Africa: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, North America: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, North America: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Europe: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Europe: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Asia Pacific: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Latin America: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Latin America: 2018-2025
  • Digital Twin Software Revenue in Manufacturing by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Aerospace by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Connected Vehicles by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Smart Cities by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Retail by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Healthcare by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue in Industrial IoT by Use Case, Middle East & Africa: 2018-2025
  • Digital Twin Software Revenue, Other Use Cases, Middle East & Africa: 2018-2025
  • Total Digital Twin Revenue by Product Type, North America: 2018- 2025
  • Total Digital Twin Revenue by Product Type, Europe: 2018-2025
  • Total Digital Twin Revenue by Product Type, Asia Pacific: 2018- 2025
  • Total Digital Twin Revenue by Product Type, Latin America: 2018- 2025
  • Total Digital Twin Revenue by Product Type, Middle East & Africa: 2018-2025
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