Digital Twin Global Market To Grow At Rate Of 40% Through 2026

Digital Twin Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Digital Twin Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, May 26, 2022 / — According to ‘Digital Twin Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the digital twin market size is expected to reach $41.77 billion in 2026 at a CAGR of 39.64%. The emergence of digitalization in manufacturing is driving the digital twin industry growth.

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The digital twin market consists of sales of the digital twin by entities (organizations, sole traders, and partnerships), that refers to a digital virtual representation of an object or system that spans its lifecycle, is updated from real-time data, and assists decision-making via simulation, machine learning, and reasoning. It will assist engineers and operators in understanding not only how items currently work, but also how they will perform in the future. These software’s or solutions can create these predictions by analyzing data from linked sensors and combining it with information from other sources.

Global Digital Twin Market Trends
Technological advancement is a key trend gaining popularity in the digital twin market. According to the global digital twin market analysis, major companies are focused on developing new technological solutions to strengthen their position in the digital twin market. For instance, In February 2022, Once Concern, a US-based provider of resilience-as-a-service solutions, launched Domino, a high-resolution digital twin solution that identifies abnormal changes in complex networks and ecosystems including the power grid, transportation networks, and communities. In January 2021 DIGIPREDICT develops digital-twin technology improving diagnostics methods for COVID-19. The project’s major goal is to enable the identification, monitoring, and screening of high-risk patients, as well as the provision of appropriate supportive care based on individualized referral decisions.

Global Digital Twin Market Segments
The global digital twin market is segmented:
By Type: Product Digital Twin, Process Digital Twin, System Digital Twin
By Technology: IoT and IIoT, Blockchain, Artificial Intelligence and Machine Learning, Augmented Reality, Virtual Reality, and Mixed Reality, Big Data Analytics, 5G
By Application: Manufacturing, Energy and Power, Aerospace, Oil and Gas, Automobile, Others
By Geography: The global digital twin market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.

Read more on the global digital twin market report here

Digital Twin Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides digital twin global market overviews, analyzes and forecasts market size and growth for the global digital twin market, digital twin global market share, digital twin market segments and geographies, digital twin market players, digital twin market leading competitor revenues, profiles and market shares. The digital twin market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

TBRC’s Digital Twin Global Market Report 2022 includes information on the following:

Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies

Key Market Players: General Electric Company, IBM Corporation, Microsoft corporation, SAP SE, ANSYS INC., Oracle Corporation, Robert Bosch, Siemens AG, Dassault Systems, PTC, ABB, Swim.AI Inc., Hexagon AB, TIBCO Software Inc., and SAS Institute Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

And so much more.

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About The Business Research Company

The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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