Digital Twin Market Size, Share & Trends Analysis Report By End Use (Automotive & Transport, Retail & Consumer Goods, Agriculture), By Region (Europe, North America, Asia Pacific), And Segment Forecasts, 2018 - 2025

Published: Dec, 2018 | Pages: 80 | Publisher: Grand View Research
Industry: Technology & Media | Report Format: Electronic (PDF)

The global digital twin market size is expected to reach USD 26.07 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to register a strong CAGR of 38.2% over the forecast years. Digital twin is a dynamic digital replica of a product, process, system, or facility, which can be used for various purposes including creating a sustainable environment and ensuring a better digital experience for customers. Such digital replicas can imitate real-world situations and help in optimizing systems and processes, examining products, and monitoring the performance and condition of machines, among others.

The digital twin technology is gaining traction owing to its potential to bridge the gap between the physical world and virtual world. The global market is expected to grow significantly over the forecast period in line with the growing adoption of Internet of Things (IoT) and big data analytics. Other factors responsible for this growth include rising need for cost-efficient operations, optimizing the processes, and reducing the Time to Market (TTM). At the same time, the way digital twins are created would continue to evolve in line with the innovations in the field of Virtual Reality (VR) and Augmented Reality (AR), thereby boosting the growth of the market.

Healthcare and life sciences, aerospace and defense, automotive and transport, manufacturing, and energy and utilities are some of the key end-use industries for the digital twin technology. Incumbents of these industries are particularly adopting the technology to enhance efficiency, augment productivity, ensure cost-efficient operations, and streamline the processes. For instance, hospitals can create a digital twin of their systems as part of the efforts to gauge the impact of any prospective changes to their systems and ensure a safer environment. Similarly, a surgeon can create a digital twin of the heart and study it before performing a surgery. The technology is also helping companies in adopting lean manufacturing.

Further key findings from the study suggest:

• Growing adoption of the digital twin technology in various industries, such as automotive and transport and agriculture, is the major growth-driving factor for the global market

• Digital twin incorporates Artificial Intelligence (AI), big data, Machine Learning (ML), and IoT, among others

• This helps the end-use industries in accessing the technology more easily and implementing it cost-effectively, thereby supporting market growth

• The manufacturing segment accounted for more than 20.0% of the global market share in 2017 and is expected to witness a strong CAGR over the forecast period

• North America and Europe together accounted for more than 50% of the market share in 2017 on account of high adoption of industrial IoT and presence of developed infrastructure in these regions

• Prominent companies in the digital twin market include ABB Group; Hexagon Geosystems AG; PTC, Inc.; Dassault Systemes; AVEVA Group plc; SAP SE; Schneider Electric SE; and Siemens AG. Most of these companies are investing in R&D to maintain their position in the global market

 Table of Contents

Chapter 1. Methodology and Scope
                    1.1. Research Methodology
                    1.2. Research Scope & Assumptions
                    1.3. List of Data Sources
                    1.4. List of Abbreviations

Chapter 2. Executive Summary

Chapter 3. Digital Twin Industry Outlook
                    3.1. Market Segmentation
                    3.2. Value Chain Analysis
                    3.3. Market Dynamics
                         3.3.1. Market driver analysis
                         3.3.2. Market restraint analysis
                         3.3.3. Market opportunity analysis
                    3.4. Penetration & Growth Prospects Mapping
                    3.5. Industry Analysis - Porter's Five Forces Analysis
                    3.6. PEST Analysis

Chapter 4. Digital Twin Market: End-Use Outlook
                    4.1. Digital Twin Market Estimates & Forecasts By End Use, 2017 & 2025 (USD Million)
                    4.2. Manufacturing
                         4.2.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.2.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.3. Agriculture
                         4.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.3.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.4. Automotive & Transport
                         4.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.4.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.5. Energy & Utilities
                         4.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.5.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.6. Healthcare & Life Sciences
                         4.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.6.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.7. Residential & Commercial
                         4.7.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.7.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.8. Retail & Consumer Goods
                         4.8.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.8.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
                    4.9. Others
                         4.9.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         4.9.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Million)

Chapter 5. Digital Twin Market: Regional Outlook
                    5.1. Digital Twin Market Estimates & Forecasts By Region, 2017 & 2025 (USD Million)
                    5.2. North America
                         5.2.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         5.2.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.2.3. U.S.
                              5.2.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.2.3.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.2.4. Canada
                              5.2.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.2.4.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                    5.3. Europe
                         5.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         5.3.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.3.3. U.K.
                              5.3.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.3.3.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.3.4. Germany
                              5.3.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.3.4.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.3.5. France
                              5.3.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.3.5.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                    5.4. Asia Pacific
                         5.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         5.4.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.4.3. China
                              5.4.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.4.3.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.4.4. India
                              5.4.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.4.4.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.4.5. Japan
                              5.4.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.4.5.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                    5.5. Latin America
                         5.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         5.5.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.5.3. Brazil
                              5.5.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.5.3.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                         5.5.4. Mexico
                              5.5.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                              5.5.4.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)
                    5.6. Middle East & Africa
                         5.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                         5.6.2. Market estimates and forecasts, by end use, 2014 - 2025 (USD Million)

Chapter 6. Competitive Landscape
                    6.1. ABB
                         6.1.1. Company overview
                         6.1.2. Financial performance
                         6.1.3. Product benchmarking
                         6.1.4. Recent developments
                    6.2. AVEVA Group plc
                         6.2.1. Company overview
                         6.2.2. Financial performance
                         6.2.3. Product benchmarking
                         6.2.4. Recent developments
                    6.3. Dassault Systemes
                         6.3.1. Company overview
                         6.3.2. Financial performance
                         6.3.3. Product benchmarking
                         6.3.4. Recent developments
                    6.4. General Electric
                         6.4.1. Company overview
                         6.4.2. Financial performance
                         6.4.3. Product benchmarking
                         6.4.4. Recent developments
                    6.5. Hexagon AB
                         6.5.1. Company overview
                         6.5.2. Financial performance
                         6.5.3. Product benchmarking
                         6.5.4. Recent developments
                    6.6. IBM Corporation
                         6.6.1. Company overview
                         6.6.2. Financial performance
                         6.6.3. Product benchmarking
                         6.6.4. Recent developments
                    6.7. Microsoft Corporation
                         6.7.1. Company overview
                         6.7.2. Financial performance
                         6.7.3. Product benchmarking
                         6.7.4. Recent developments
                    6.8. PTC
                         6.8.1. Company overview
                         6.8.2. Financial performance
                         6.8.3. Product benchmarking
                         6.8.4. Recent developments
                    6.9. SAP
                         6.9.1. Company overview
                         6.9.2. Financial performance
                         6.9.3. Product benchmarking
                         6.9.4. Recent developments
                    6.10. Siemens AG
                         6.10.1. Company overview
                         6.10.2. Financial performance
                         6.10.3. Product benchmarking
                         6.10.4. Recent developments

List of Tables

Table 1 List of Abbreviations
Table 2 Digital twin market - Industry snapshot & key buying criteria, 2014 - 2025
Table 3 Digital twin market, 2014 - 2025 (USD Million)
Table 4 Digital twin market, by region, 2014 - 2025 (USD Million)
Table 5 Digital twin market, by end use, 2014 - 2025 (USD Million)
Table 6 Manufacturing market, 2014 - 2025 (USD Million)
Table 7 Manufacturing market, by region, 2014 - 2025 (USD Million)
Table 8 Agriculture market, 2014 - 2025 (USD Million)
Table 9 Agriculture market, by region, 2014 - 2025 (USD Million)
Table 10 Automotive & transport market, 2014 - 2025 (USD Million)
Table 11 Automotive & transport market, by region, 2014 - 2025 (USD Million)
Table 12 Energy & utilities market, 2014 - 2025 (USD Million)
Table 13 Energy & utilities market, by region, 2014 - 2025 (USD Million)
Table 14 Healthcare & life sciences market, 2014 - 2025 (USD Million)
Table 15 Healthcare & life sciences market, by region, 2014 - 2025 (USD Million)
Table 16 Residential & commercial market, 2014 - 2025 (USD Million)
Table 17 Residential & commercial market, by region, 2014 - 2025 (USD Million)
Table 18 Retail & consumer goods market, 2014 - 2025 (USD Million)
Table 19 Retail & consumer goods market, by region, 2014 - 2025 (USD Million)
Table 20 Others market, 2014 - 2025 (USD Million)
Table 21 Others market, by region, 2014 - 2025 (USD Million)
Table 22 North America digital twin market, 2014 - 2025 (USD Million)
Table 23 North America digital twin market, by end use, 2014 - 2025 (USD Million)
Table 24 U.S. digital twin market, 2014 - 2025 (USD Million)
Table 25 U.S. digital twin market, by end use, 2014 - 2025 (USD Million)
Table 26 Canada digital twin market, 2014 - 2025 (USD Million)
Table 27 Canada digital twin market, by end use, 2014 - 2025 (USD Million)
Table 28 Europe digital twin market, 2014 - 2025 (USD Million)
Table 29 Europe digital twin market, by end use, 2014 - 2025 (USD Million)
Table 30 U.K. digital twin market, 2014 - 2025 (USD Million)
Table 31 U.K. digital twin market, by end use, 2014 - 2025 (USD Million)
Table 32 Germany digital twin market, 2014 - 2025 (USD Million)
Table 33 Germany digital twin market, by end use, 2014 - 2025 (USD Million)
Table 34 France digital twin market, 2014 - 2025 (USD Million)
Table 35 France digital twin market, by end use, 2014 - 2025 (USD Million)
Table 36 Asia Pacific digital twin market, 2014 - 2025 (USD Million)
Table 37 Asia Pacific digital twin market, by end use, 2014 - 2025 (USD Million)
Table 38 China digital twin market, 2014 - 2025 (USD Million)
Table 39 China digital twin market, by end use, 2014 - 2025 (USD Million)
Table 40 India digital twin market, 2014 - 2025 (USD Million)
Table 41 India digital twin market, by end use, 2014 - 2025 (USD Million)
Table 42 Japan digital twin market, 2014 - 2025 (USD Million)
Table 43 Japan digital twin market, by end use, 2014 - 2025 (USD Million)
Table 44 Latin America digital twin market, 2014 - 2025 (USD Million)
Table 45 Latin America digital twin market, by end use, 2014 - 2025 (USD Million)
Table 46 Brazil digital twin market, 2014 - 2025 (USD Million)
Table 47 Brazil digital twin market, by end use, 2014 - 2025 (USD Million)
Table 48 Mexico digital twin market, 2014 - 2025 (USD Million)
Table 49 Mexico digital twin market, by end use, 2014 - 2025 (USD Million)
Table 50 MEA digital twin market, 2014 - 2025 (USD Million)
Table 51 MEA digital twin market, by end use, 2014 - 2025 (USD Million)

List of Figures

Fig.1 Digital twin market segmentation
Fig.2 Digital twin market value chain analysis
Fig.3 Digital twin market driver impact
Fig.4 Digital twin market challenge impact
Fig.5 Digital twin market opportunity impact
Fig.6 Digital twin market penetration & growth prospects mapping
Fig.7 Digital twin market - PEST analysis
Fig.8 Digital twin market - Porter's Five Forces analysis
Fig.9 Digital twin market, by end use, 2017 & 2025 (USD Million)
Fig.10 Digital twin market, by region, 2017 & 2025 (USD Million)