Digital Twin Market Worth US$ 15.66 Billion by 2023

Digital Twin Market 2023 report on the digital twin market segments it on the basis of end user and geography.

Digital Twin Market Analysis by Top Regions Forecasts Report 2023 added on RnRMarketResearch.com. The Digital Twin Market is expected to be worth USD 15.66billion by 2023, at a CAGR of 37.87% during the forecast period. The key players operating in digital twin market include General Electric, IBM Corporation, Microsoft Corporation, Oracle Corporation, and PTC, Inc., ANSYS, Inc., Dassault Systèmes, and Siemens AG.

Target Audience:
• Software solution providers
• IoT vendors
• Cloud platform providers
• Research organizations
• Technology standards organizations, forums, and associations
• Technology investors
• Governments and investment communities
• Analysts and strategic business planners

Download PDF Brochure of Digital Twin Market spread across 140 Pages, Profiling 20 Companies and Supported with 64 Tables and 40 Figures is now available at http://www.rnrmarketresearch.com/contacts/request-sample?rname=1186248 .

The growth of the market is driven by various factors such as growing adoption of Internet of things (IoT) by various end user industries and reduction in manufacturing process time and cost. However, the risks associated with data security due to the use of IoT and cloud platforms is one of the factors restraining the market growth.

“The digital twin market for other industries including materials and chemicals, and agriculture would witness the highest CAGR during the forecast period”
The digital twin market for other industries comprising materials and chemicals, and agriculture is expected to grow at the highest CAGR between 2017 and 2023. The growing adoption of new technologies for digitalization in product development, which substantially enhances the operational efficiency, boosts the growth of digital twin market for other industries and is likely to contribute to the fastest growth of the market for this segment.

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”The market in APAC is expected to grow at the highest CAGR during the forecast period”
APAC held the largest share of the overall digital twin market in 2016, and the market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The growth of digital twin market in APAC is driven by the growing adoption of IoT for industrial applications in developing countries such as China, India, and Japan. Also, the increasing number of industries in this region leads to the growing demand for digital twins for improving the efficiency of product manufacturing.

Given below is the breakdown of the profile of the primary participants in terms of different parameters considered:
• By Company Type: Tier 1=25%, Tier 2=45%, and Tier 3=30%
• By Designation: C-Level=50%, D-Level=32%, and Others=18%
• By Region: Americas=32%, Europe=30%, APAC=24%, and RoW= 14%.

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Reasons to Buy the Report:
• This report includes the market size estimated in terms of value (in USD), segmented on the basis of end user and geography.
• Major drivers, restraints, opportunities and, challenges for the digital twin market have been provided in detail in this report.
• The report includes illustrative segmentation, analysis, and forecast of the digital twin market based on its segments and sub segments.
• The report includes proprietary micro quadrant framework, which analyzes market players on various parameters within the broad categories of business and product strategy.

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Contact Info:
Name: Hrishikesh Patwardhan
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Organization: Hrishikesh Patwardhan
Website: http://www.rnrmarketresearch.com/digital-twin-market-by-end-user-aerospace-defense-automotive-transportation-home-commercial-electronics-electricals-machine-manufacturing-energy-utilities-healthcare-retail-consumer-goods-and-ge-st-to-2023-market-report.html

Release ID: 398653