Rising adoption of Industry 4.0 standards,
increasing penetration of SMACT technologies and burgeoning digitalization to
fuel the global digital twin market through 2022
According to TechSci Research report, “Global
Digital Twin Market By Application, By End User Sector, By Region,
Competition Forecast & Opportunities, 2012 – 2022”, the global digital twin market is projected to exhibit
a CAGR of 36.5%, in value terms, during the forecast period 2017-2022. Increasing deployment of digital twin technology in manufacturing,
transportation, energy & utilities, healthcare, consumer goods, agriculture
and several other sectors is expected to drive the global digital twin market over the coming years. Additionally, Smart
Factory revolution - Industry 4.0, rapid adoption of SMACT (Social, Mobile,
Analytics, Cloud and Internet of Things) technologies, and rising inclination
towards digitization across the globe would aid the global digital twin market during the forecast period.
Browse 84 market data
Tables and 84 Figures spread through 172
Pages and an in-depth TOC on
"Global Digital Twin
Market"
In terms of application, manufacturing process planning is expected to dominate
the digital twin market across the globe through 2022, on account of its ability
to provide Mechanical/Electrical Computer Aided Designing (MCAD/ECAD),
Electronic Design Automation (EDA), resource optimization, etc. In 2016, manufacturing
sector held the largest value share in the global digital twin market, backed
by rapidly proliferating digitalization, rising demand for ‘connected and
smart’ devices, and adoption of smart analytics. Moreover, over the coming
years, energy & utilities sector is expected to emerge as the fastest
growing segment due to rising adoption of Industrial Internet
of Things (IIoT) for machinery
management, predictive and preventative analytics coupled with increasing use
of smart grids in oil & gas sector.
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“There has been an
increase in the adoption of digital twin software across various end user
sectors, attributed to growing data mobility, digitalization of industrial
assets from records, process planning to blueprint of system designs, and
rising adoption of Industrial Internet of Things across heavy industries including
manufacturing, energy & utilities, healthcare and aerospace & defense.
Furthermore, owing to equipment designing, automated workflow management, and
monitoring capabilities offered by digital twin technology, its deployment across
the energy & utilities sector is expected to grow over the coming years”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Digital Twin Market By Application, By End User
Sector, By Region, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the
future growth potential of the digital twin market and has also provided the statistics
and information on market structure, size, and trends of the global digital
twin market. The report intends to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the market.
Global Simulation & Analysis Software
Market, By Product Type (Finite Element Analysis, Computational Fluid Dynamics,
etc.), By End Use Industry (Automotive, Aerospace & Defense, etc.), By
Region Competition Forecast and Opportunities, 2012 – 2022
Global Computer Aided Engineering Market By
Product Type (Finite Element Analysis & Computational Fluid Dynamics), By
End Use Industry (Automotive, Aerospace & Defense, etc.), By Region, Competition
Forecast & Opportunities, 2012-2022
Global Internet of Things (IoT) Services Market
By Type (Professional and Managed Services), By Application (Manufacturing,
Healthcare, Smart Homes and Buildings, Smart Cities, etc.), By Region,
Competition Forecast and Opportunities, 2011 – 2021
About TechSci Research
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rather than follow market trends.
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