Digital Twin Market by Type (Asset, Process, System), Technology (Internet of Thing, Artificial Intelligence, Big Data Analytics, AR VR), End User (Automotive, Transport, Healthcare, Construction, Manufacturing, Retail) - Global Forecast to 2025

  • Report ID:MRICT - 104361
  • Pages: 195
  • Nov 2019
  • Formats*: PDF
  • Category: Information & Communications Technology

1. Introduction
    1.1. Market Definition
    1.2. Market Ecosystem
    1.3. Currency and Limitations
           1.3.1. Currency
           1.3.2. Limitations
    1.4. Key Stakeholders

2. Research Methodology
    2.1. Research Approach
    2.2. Data Collection and Validation
           2.1.1. Primary Research
           2.1.2. Secondary Research
    2.3. Market Assessment
           2.3.1. Market Size Estimation
                     2.3.1.1.  Bottom-Up Approach
                     2.3.1.2.  Top-Down Approach
                     2.3.1.3.  Growth forecast
           2.3.2. Market Share Analysis
    2.4. Assumption for Study
    2.5. Limitation for Study

3. Executive Summary

4. Market insights
    4.1. Introduction
    4.2. Market Dynamics
           4.2.1. Drivers
                     4.2.1.1.  Growing use of Digital Twin for predictive maintenance
                     4.2.1.2.  Increasing adoption of Iot and cloud-based solutions
           4.2.2. Restraints
                     4.2.2.1.  Risk associated with data security due to Iot and cloud-based platforms
           4.2.3. Opportunities
                     4.2.3.1.  Advent of industry 4.0 
           4.2.4. Challenges
                     4.2.4.1.  Lack of skilled employees 
                     4.2.4.2   Lack of awareness regarding cost benefits of Digital Twin 
           4.2.5. Trends
                     4.2.5.1.  Increase in adoption of supply chain management

5. Digital Twin Market, by Type
    5.1. Introduction
    5.2. Asset
    5.3. Process
    5.4. System

6. Digital Twin Market, by Technology
    6.1. Introduction
    6.2. Internet of Things
    6.3. Artificial intelligence & Machine Learning
    6.4. Big Data Analytics
    6.5. Augmented Reality & Virtual Reality

7. Digital Twin Market, by End Use industry
    7.1. Introduction
    7.2. Automotive & Transportation 
    7.3. Aerospace & Defense
    7.4. Energy & Utilities
    7.5. Healthcare
    7.6. Building & Construction
    7.7. Consumer Electrical & Electronic Goods
    7.8. Manufacturing
    7.9. Oil & Gas

8. Global Digital Twin Market, by Geography
    8.1. Introduction
    8.2. North America
    8.2.1. U.S. 
             8.2.2. Canada
    8.3. Europe
           8.3.1. Germany
           8.3.2. U.K.
           8.3.3. France
           8.3.4. Italy
           8.3.5. Spain
           8.3.6. Rest of Asia Pacific
    8.4. Asia Pacific
           8.4.1. Japan
           8.4.2. China
           8.4.3. India
           8.4.4. South Korea
           8.4.5. Rest of Asia Pacific
    8.5. Latin America
    8.6. Middle East & Africa

9. Competitive Landscape
    9.1. New Product Launches
    9.2. Mergers and Acquisitions
    9.3. Partnerships, Agreements, & Collaborations
    9.4. Expansion
    9.5. Competitive Benchmarking

10. Company Profiles
      10.1. General Electric
               10.1.1.  Business Overview
               10.1.2.  Financial Overview
               10.1.3.  Product Portfolio
               10.1.4.  Strategic Developments
      10.2. IBM Corporation 
               10.2.1.  Business Overview
               10.2.2.  Financial Overview
               10.2.3.  Product Portfolio
               10.2.4. Strategic Developments
      10.3. PTC, Inc.
               10.3.1.  Business Overview
               10.3.2.  Financial Overview
               10.3.3.  Product Portfolio
               10.3.4.  Strategic Developments
      10.4. Microsoft Corporations
               10.4.1.  Business Overview
               10.4.2.  Financial Overview
               10.4.3.  Product Portfolio
               10.4.4.  Strategic Developments
      10.5. Siemens AG
               10.5.1.  Business Overview
               10.5.2.  Financial Overview
               10.5.3.  Product Portfolio
               10.5.4.  Strategic Developments
      10.6. Ansys 
               10.6.1.  Business Overview
               10.6.2.  Financial Overview
               10.6.3.  Product Portfolio
               10.6.4.  Strategic Developments
      10.7. SAP SE
               10.7.1.  Business Overview
               10.7.2.  Financial Overview
               10.7.3.  Product Portfolio
               10.7.4.  Strategic Developments
      10.8. Oracle Corporation
               10.8.1.  Business Overview
               10.8.2.  Financial Overview
               10.8.3.  Product Portfolio
               10.8.4.  Strategic Developments
     10.9. Robert Bosch 
               10.9.1.  Business Overview
               10.9.2.  Financial Overview
               10.9.3.  Product Portfolio
               10.9.4.  Strategic Developments
    10.10. Swim. AI
               10.10.1. Business Overview
               10.10.2. Product Portfolio
               10.10.3. Strategic Developments
    10.11. Rescale, inc
               10.11.1. Business Overview
               10.11.2. Product Portfolio
               10.11.3. Strategic Developments
    10.12. Dassault Systemes 
               10.12.1. Business Overview
               10.12.2. Financial Overview
               10.12.3. Product Portfolio
               10.12.4. Strategic Developments
     10.13. ABB Ltd.
               10.13.1. Business Overview
               10.13.2. Financial Overview
               10.13.3. Product Portfolio
               10.13.4. Strategic Developments
    10.14. Honeywell International Corporations
               10.14.1. Business Overview
               10.14.2. Financial Overview
               10.14.3. Product Portfolio
               10.14.4. Strategic Development
     10.15 Schneider Electric
               10.15.1. Business Overview
               10.15.2. Financial Overview
               10.15.3. Product Portfolio
               10.15.4. Strategic Developments
11. Appendix
      11.1. Questionnaire
      11.2. Available Customization

List of Tables

Table 1 Global Digital Twin Market Drivers: Impact Analysis (2019-2025) 
Table 2 Global Digital Twin Market Restraints: Impact Analysis (2019-2025) 
Table 3 Global Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 4 Global Digital Twin Type Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 5 Global Digital Twin Asset Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 6 Global Digital Twin Process Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 7 Global Digital Twin System Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 8 Global Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 9 Global Digital Twin Technology Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 10 Global Digital Twin Internet of Things Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 11 Global Digital Twin Artificial intelligence & Machine Learning Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 12 Global Digital Twin Big Data Analytics Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 13 Global Digital Twin Augmented Reality & Virtual Reality Market Size, by Country/Region, 2017-2025 ($ Million) 
Table 14  Global Digital Twin Market Size, for End Use industry, 2017-2025 ($ Million) 
Table 15 Global Digital Twin Market Size for End Use industry, by Country/Region, 2017-2025 ($ Million) 
Table 16  Global Digital Twin Market Size for Automotive & Transportation, by type, by Country/Region, 2017-2025 ($ Million) 
Table 17 Global Digital Twin Market Size for Aerospace & Defense, by type, by Country/Region, 2017-2025 ($ Million) 
Table 18 Global Digital Twin Market Size for Energy & Utilities, by type, by Country/Region, 2017-2025 ($ Million) 
Table 19 Global Digital Twin Market Size for Healthcare, by type, by Country/Region, 2017-2025 ($ Million) 
Table 20 Global Digital Twin Market Size for Building & Construction, by type, by Country/Region, 2017-2025 ($ Million) 
Table 21 Global Digital Twin Market Size for Consumer Electrical & Electronic Goods, by type, by Country/Region, 2017-2025 ($ Million) 
Table 22 Global Digital Twin Market Size for Manufacturing, by type, by Country/Region, 2017-2025 ($ Million) 
Table 23 Global Digital Twin Market Size for Oil & Gas, by type, by Country/Region, 2017-2025 ($ Million) 
Table 24 North America: Digital Twin Market Size, by Country, 2017-2025 ($ Million)
Table 25 North America: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 26 North America: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 27 North America: Digital Twin Market Size, for End Use industry, 2017-2025 ($ Million) 
Table 28 U.S.: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 29 U.S.: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 30 U.S.: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 31 Canada: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 32 Canada: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 33 Canada: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 34 Europe: Digital Twin Market Size, by Country, 2017-2025 ($ Million) 
Table 35 Europe: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 36 Europe: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 37 Europe: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 38 Germany: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 39 Germany: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 40 Germany: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 41 U.K.: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 42 U.K.: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 43 U.K.: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million)
Table 44 France: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 45 France: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 46 France: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 47 Italy: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 48 Italy: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 49 Italy: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 50 Spain: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 51 Spain: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 52 Spain: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 53 Rest of Europe: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 54 Rest of Europe: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 55 Rest of Europe: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 56 Asia Pacific: Digital Twin Market Size, by Country, 2017-2025 ($ Million) 
Table 57 Asia Pacific: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 58 Asia Pacific: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 59 Asia Pacific: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 60 Japan: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 61 Japan: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 62 Japan: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 63 China: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 64 China: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 65 China: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 66 India: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 67 India: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 68 India: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 69 South Korea: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 70 South Korea: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 71 South Korea: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 72 Rest of Asia Pacific: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 73 Rest of Asia Pacific: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 74 Rest of Asia Pacific: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 75 Latin America: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 76 Latin America: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 77 Latin America: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 78 Middle East & Africa: Digital Twin Market Size, by Type, 2017-2025 ($ Million) 
Table 79 Middle East & Africa: Digital Twin Market Size, by Technology 2017-2025 ($ Million) 
Table 80 Middle East & Africa: Digital Twin Market Size, for End Use industry, by type 2017-2025 ($ Million) 
Table 81 Number of Developments by The Major Players During 2015-2019
Table 82 New Product Launches, 2015-2019
Table 83 Mergers and Acquisitions, 2015-2019
Table 84 Partnerships, Agreements, & Collaborations, 2015-2019
Table 85 Expansions, 2015-2019

List of Figures

Figure 1 Research Process
Figure 2 Key Executives interviewed
Figure 3 Primary Research Techniques
Figure 4 Market Size Estimation
Figure 5 Key Opportunities
Figure 6 Key Adopters of Digital Twin
Figure 7 Digital Twin Market Overview: 2019-2025
Figure 8 Global Digital Twin Market, by Geography, 2019-2025 ($ Million)
Figure 9 Global Digital Twin Market Size, by Type, 2019-2025 ($ Million) 
Figure 10 Global Digital Twin Market Size, by Technology, 2019-2025 ($ Million) 
Figure 11 Global Digital Twin Market Size, for End Use industry, by type 2019-2025 ($ Million) 
Figure 12 Global Digital Twin Market Size, by Region, 2019-2025 ($ Million) 
Figure 13 New Product Launches by The Leading Players, 2015-2019
Figure 14 Mergers and Acquisitions by Leading Players, 2015-2019
Figure 15 Partnerships, Agreements, & Collaborations by The Leading Players, 2015-2019
Figure 16 Expansion by The Leading Players, 2015-2019


The global digital twin market is expected to grow at a CAGR of 38.1% from 2019 to reach $30.1 billion by 2025 where Asia Pacific Digital twin market is expected to grow at the highest CAGR. Digital twin refers to virtual replication of any physical asset, process, and systems that can be utilized for ensuring predictive maintenance and reduce outage over stipulated time. A digital twin thus, is developed with multiple IoT sensors that collect the real-time data generated in the product development phase, and learns, analyzes and updates itself according to working conditions. Owing to its advantages, the growth of the digital twin market is majorly driven by growing use of digital twin for predictive maintenance and increasing adoption of IoT and cloud-based solutions. However, risk associated with data security and lack of skilled employees for implementing digital twins effectively prove to be restraining factors of the market.

Growing Use of Digital Twin for Predictive Maintenance

Predictive maintenance has become the need of the hour in different industries, as breakdowns and outages/downtime can result in heavy losses for any organization. Such unexpected interruption can be avoided by taking appropriate measures and effective planning of maintenance. Inculcation of digital twin can change this breakdown scenario and can save maintenance and production costs in stipulated time. At the time of product development, sensors are attached to the product which generate data that predict faulty conditions through simulations; thus, enabling the professionals to analyze maintenance workflow including testing with all sorts of possible fault conditions. Thus more and more, organizations are adopting digital twin solutions in order to shift to digital-driven asset management. In addition, digital twin reviews historical data or compares with similar production systems and projects failure in components, if any, and the anticipated wear on parts.

Increasing Adoption of IoT and Cloud-Based Storage Solutions

Over the years, the use of IoT for business transformations has increased rapidly. This trend is growing further with increasing number of businesses across different industry verticals aiming for digitization of their processes and operations. With this, the convergence of virtual and physical world is imminent, and digital twin plays a vital role in this process.

Today, business enterprises are increasingly witnessing benefits of the connected business operations and the time efficiency provided by adopting these technologies. The more the technologies are integrated, subsequently the twin becomes complete; thus, creating a digital thread that standardizes complete process and gives optimum results. Thus, the demand for digital twin technology across business organizations is increasing steadily in order to improve existing business processes and experiment numerous approaches in a simulated environment that would not affect the actual product. It is estimated that over the coming years, nearly 40% of the IoT platform vendors would integrate simulation platforms and capabilities to create digital twins.

Digital Twin Market-2025

Click here to: Get Free Request Sample Copy of this report

Key Findings in the Global Digital Twin Market Study:

Artificial Intelligence and Machine Learning are Ready to Create an Impact on The Digital Twin Market

A digital twin is relatively easy to reuse, retrain, and adapt to the existing environment. Thus, enabling AI with the digital twin can make repeated use of technology and enhance productivity. AI has the potential to interpret and examine the data captured by the IoT sensors of digital twin, identify any anomaly, and continue to learn and identify errors. Consequently, digital twin in accordance with AI can be used to improve functionality and provide valuable insights to the developers.

Manufacturing Industry Expected to Register Rapid Growth in Digital Twin Market

Manufacturing companies make extensive use of automation and robotics systems on production lines and are increasingly adopting IoT technologies, such as digital twin to optimize production performance. Manufacturers understand that even small improvements to throughput, quality, or equipment reliability can be worth millions of dollars. This is driving manufacturers to take significant steps in optimizing their operations by involving technology like digital twin which can also prove to be cost-effective.

Asia Pacific: The Fastest Growing Digital Twin Market

Asia-Pacific is one of the fastest-growing markets for software technologies. It covers varied industries that are expected to flourish over the coming years. This region also continues to experience rapid growth across all areas of technology. With technological improvements of different industries and business operations, digital twin technologies are increasingly being implemented across businesses in this region. The growth in this market is mainly driven by an urge for adopting digital solutions in product development processes to reduce downtime and rising potential of users to invest in digital solutions to survive in competitive markets.

Key Players

Key players operating in global digital twin market are General Electric (U.S), IBM (U.S), PTC (U.S), Microsoft Corporation (U.S), Oracle Corporation (U.S), ANSYS (U.S), Siemens AG (U.S.), SAP SE (Germany), Oracle Corporation (U.S), Robert Bosch (Germany), SWIM.AI (U.S), Rescale, Inc. (U.S), Dassault Systemes (France), ABB Ltd. (Switzerland), Honeywell International Inc. (U.S.), Schneider Electric (France) among others.

Scope of the Report:

Digital Twin Market by Type

  • Asset
  • Process
  • System

Digital Twin Market by Technology

  • Internet of Things (IoT)
  • Artificial Intelligence and Machine Learning
  • Big data analytics
  • Augmented Reality and Virtual reality
  • Others

Digital Twin Market by End-use industry

  • Automotive and transportation
  • Aerospace and Defense
  • Energy and Utilities
  • Healthcare
  • Building and construction
  • Consumer Electrical and Electronic goods
  • Manufacturing
  • Oil and Gas
  • Retail

Digital Twin Market by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
  • Middle East and Africa

Key questions answered in the report:

Growing use of digital twin for predictive maintenance

  • How does the adoption of digital twin in developed regions differ from developing countries like India, and China?
  • What are the different measures taken for predictive maintenance in order to widespread digital twin?
  • Are there any instances regarding booming technologies such as AI and ML with respect to digital twin?

Increasing adoption of IoT and cloud-based storage solutions

  • How is the proliferation of IoT responsible for the widespread adoption of digital twin?
  • What are the benefits of implementing cloud-based digital twin solutions?

Key players dominating the digital twin market

  • Who are the major players in various countries and what share of the market do they hold?
  • Who are the top competitors in this market and what strategies do they employ to gain shares?
  • What companies have recently merged/acquired in various countries across the globe and how will these unions affect the competitive landscape?
  • Which companies have created partnerships and how will these partnerships promote a competitive advantage?

North America region dominates the geographical segment of digital twin market

  • Who are the prominent players in the North American digital twin market and what is their market share?
  • Which is the most adopted type of digital twin technology in the country?
  • What is the impact of adoption of digital twin on end-use industries in the U.S.?
This website is secure and we do not share your personal information with any third party. Privacy Policy
Tags: Artificial Intelligence AI Techcnologies Smart Technologies
Download Free Sample