Research Nester has released a report titled “Digital Twin Market: Global Demand Analysis & Opportunity Outlook 2031” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The global digital twin market is expected to generate a revenue of USD 2,84,519.3 Million by the end of 2031, by growing at a CAGR of 44.2% over the forecast period, i.e., 2022-2031. The growth can primarily be attributed to the increase in adoption of digital twin in manufacturing industry. By 2022, at least one digital twin will be in use at more than two-thirds of the IoT-enabled businesses.
The global digital twin market is segmented by technology into augmented reality & virtual reality, IoT & IIoT, artificial intelligence & machine learning, big data analytics, and others. Out of which, the augmented reality & virtual reality segment is expected to generate the most revenue of USD 62,512.3 million by the end of 2031. Furthermore, the segment generated USD 1,437.1 Million in revenue in 2021.
For more information in the analysis of this report, visit:https://www.researchnester.com/reports/digital-twin-market/4226
The global digital twin market is geographically segmented into five key regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is anticipated to generate the highest revenue among these regions, at USD 88,485.5 Million. Additionally, in 2021, the market in Asia Pacific generated a revenue of USD 1768.6 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Moreover, concerns about cyber security, high costs, and the need for significant investment are expected to be major restraints on the growth of the global digital twin market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global digital twin market, which includes company profiling of Accenture plc, IBM Corporation, Atos SE, General Electric, Microsoft Corporation, DXC Technology Company, Infosys Limited, SAP SE, SAS Institute Inc., Gemini Digital Technologies, Tata Consultancy Services Limited, ANSYS Inc., Toshiba Digital Solutions Corporation, Matterport, Inc., Oracle Corporation, Honeywell International Inc., and Dassault Systemes S.A.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Digital Twin Market: Global Demand Analysis & Opportunity Outlook 2031”, analyses the overall global digital twin market to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global digital twin market in the near future.
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Market SnapshotThe global digital twin market is expected to exhibit a robust 42.54% CAGR over the forecast period from 2018 to 2025, according to the latest research report from Market Research Future (MRFR).
Major players operating in the global digital twin market are also profiled in detail in the report, giving readers a clear overview of the competitive landscape of the market.
The impact of the COVID-19 pandemic on the global digital twin market is also profiled in detail in the report.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/4504A digital twin is a digital representation of a physical entity.
Information from multiple sources is used to update the digital twin with respect to the real life status of the physical object on which the twin is based.
Digital twins are being used in various industrial sectors to optimize the operation and maintenance of physical assets, systems, and manufacturing processes.
They constitute an emerging technology within the field of the industrial Internet of Things.The growing electronics and electrical/machine manufacturing sector is likely to be a major driver for the global digital twin market, as the electronics and electrical/machine manufacturing sector is the leading end user of digital twin technology.
