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Digital Twin Market Latest Advancements and Business Outlook 2020-2025

Declining time and cost of product development and unplanned downtime with the adoption of digital twins, increasing adoption of emerging technologies such as IoT and cloud, and growing use of digital twin for predictive maintenance are among the factors fuelling the growth of the digital twin market. Furthermore, leading players adopt strategies such as product launches and developments to strengthen their market position.

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Digital Twin Market Latest Advancements and Business Outlook 2020-2025

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  1. MarketsandMarkets Presents COVID-19 impact on the Digital Twin Market Digital Twin Market by Technology, Type (Product, Process, and System), Industry (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Healthcare, Energy & Utilities, Oil & Gas), and Geography - Global Forecast to 2025 https://www.marketsandmarkets.com/Market-Reports/digital-twin-market-225269522.html

  2. The digital twin market is estimated to grow from USD 3.8 billion in 2019 to USD 35.8 billion by 2025, at a CAGR of 45.4%. Factors driving the demand for digital twin include the growing adoption of emerging technologies such as IoT and cloud for the implementation of digital twin and promising prospect of digital twin in industries such as healthcare, aerospace & defense, and automotive & transportation. Browse 51 market data Tables and 44 Figures spread through 132 Pages and in-depth TOC on "Digital Twin Market - Global Forecast to 2025"

  3. Digital Twin Market for Automotive & Transportation to account for largest size of market from 2019 to 2025 Automotive & transportation is expected to be the key end-user industry for digital twin market. This industry is growing rapidly due to the increasing usage of digital twins for designing, simulation, maintenance, repair, and overhaul, production, and after service. Moreover, the automotive & transportation industry is the early adopter of technologies, and there is a rising demand for connected devices in this sector owing to the advancements such as connected cars & autonomous cars, which, in turn, boosts the growth of the market. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=225269522 Digital Twin market for system digital twin to boost demand for market during forecast period System digital twin is expected to hold the largest share of the digital twin market during the forecast period.  This growth is attributed to the increasing demand for system digital twin type from several industries as a system digital twin is a collection of assets/products and processes that together perform as a system- or network-wide function, such as an oil & gas refinery/plant, a production line in a factory, an assembly line, a traffic network, a wind farm, a hospital, and a country. A system twin provides visibility into a set of interdependent equipment.

  4. Digital Twin Market in North America to hold largest share of market from 2019 to 2025 North America held the largest share of the overall digital twin market in 2018, and APAC is likely to exhibit the highest CAGR during the forecast period. Major factors driving the growth of the market in North America is due to the strong economic infrastructure and significant presence of digital twin vendors in the region. Moreover, increasing R&D activities in the field of IoT and IIoT, and growing demand for efficient and cost-effective technologies for product manufacturing are the factors driving the market in this region.

  5. Key Market Players • Key players in the market include General Electric (US), IBM (US), PTC (US), Microsoft Corporation (US), Siemens AG (Germany), ANSYS (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM.AI (US). • Request Free Sample Pages: • https://www.marketsandmarkets.com/requestsampleNew.asp?id=225269522 • Digital Twin Market By Technology: • IoT & IIoT • Blockchain • Artificial Intelligence & Machine Learning • Augmented Reality, Virtual Reality, and Mixed Reality • Big Data Analytics • 5G • Digital Twin Market By Industry: • Aerospace & Defense • Automotive & Transportation • Home & Commercial • Healthcare • Energy & Utilities

  6. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  7. Contact Us Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 For More Info: https://www.marketsandmarkets.com/PressReleases/digital-twin.asp

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