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Digital Twin Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023

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Digital twin Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts upto 2023

Overview:

Globalization has made companies to focus more on digitalization both in the business and consumer market places. Over the past few years, IoT has been reaching milestones in the world of technology and it has paved the path for the evolution of various new technologies for enterprises. Digital twin is one such technology which is changing the industry dynamics. Digital twin refers to simulation modules of a physical object.
This technology is capable of supporting conceptualization, comparison, and collaboration for high-end innovations and problem-solving. Further, the technology provides real-time status and working conditions of the physical objects by accessing data from the sensors installed in the objects. Industry players benefit from this technology in terms of efficiency, higher productivity, lean manufacturing, and cost-effectiveness.

Digital twin works on a simulation platform connected to a predictive analytics platform and it integrates several manufacturing assets, underlying parts, and system processes in real-time with the help of sensors and communicates to the operator in a simulation module. The system senses data from a wide range of devices/machines and analyzes the work. Digital twin is currently used for reducing operational loss, designing and repairing of airplanes and turbines, controlling supply chain loss in a manufacturing plant, and others.

Market Revenue and Segmentation Analysis:

The digital twin market is expected to grow at a CAGR of 24.7% during the forecast period 2017-2023. The market is analyzed based on digital twin types, verticals, deployment type, applications, and regions. The digital twin types considered are product twin, part twin, process twin, and system twin, wherein the process and systems twins are at a high demand in the end-user industries owing to its wide functionalities. The deployment type segment includes, cloud-based, on-premises, and hybrid. Currently, cloud deployment is expected to contribute a major share followed by the on-premises and hybrid during the forecast period 2017-2023.

The applications covered are business optimization, operation optimization, asset performance management, edge computing, cyber security, and others. The business and process optimizations are set to bring the innovations in the digital twin technology as they control supply chain loss and offer better lean manufacturing capabilities and data driven solutions to improve the productivity.

Regions and Vertical Analysis:

The regions covered in report are Americas, Europe, Asia Pacific, and ROW. Among these, Americas is expected to grow at a higher CAGR during the forecast period 2017-2023. The US, Canada, the UK, Germany, and Japan are expected to adopt more digital twin technologies, and Brazil, Switzerland, and Poland are the emerging countries for the digital twin technology adoption owing to the policy changes for the development of their manufacturing capabilities and the rising trend for spending on industrial digital technologies.

Digital twin is used across industries, such as manufacturing, power, oil & gas, BFSI, healthcare, aviation, smart cities, and others. The manufacturing industry could receive a wide range of benefits from digital twin, from product designing to monitoring the plant operations, load forecasting, fleet dispatch, monitoring production losses, and expected delays in the production and others. In aviation and power industries, digital twin is used to monitor the working of machines such as propellers, turbines, and others. Predictive diagnostics, asset condition monitoring, and finding new revenue streams are the popular functions of digital twin in the end-user industries.

Benefits and Vendors

The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape. Digital twin technology is expected to change the way industries work by 2030 with its wide range of capabilities. The report covers an in-depth analysis of Infosys, General Electric, Siemens, AT & T, IBM, and others.
The study offers a comprehensive analysis of the Global Digital Twin Market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

1 Industry Outlook 9
1.1 Industry Overview 9
1.2 Industry Trends 10
1.3 PEST Analysis 11
2 Report Outline 12
2.1 Report Scope 12
2.2 Report Summary 13
2.3 Research Methodology 14
2.4 Report Assumptions 15
3 Market Snapshot 16
3.1 Total Addressable Market 16
3.2 Segmented Addressable Market 17
4 Market Outlook 18
4.1 Overview 18
4.2 Porter 5 (Five) Forces 19
5 Market Characteristics 20
5.1 Evolution 20
5.2 Ecosystem 21
5.3 Market Segmentation 22
5.4 Market Dynamics 23
5.4.1 5.4.1 Drivers 24
5.4.1.1 Digitalization- a strategy to enhance productivity 24
5.4.1.2 Early warning, prediction, and optimization 24
5.4.1.3 Virtual marketing promotions 24
5.4.2 5.4.2 Restraints 24
5.4.2.1 Delay in implementing 3D design technologies 24
5.4.2.2 Interoperability and security 24
5.4.3 5.4.3 Opportunities 24
5.4.3.1 Cognitive digital twin 24
5.4.3.2 Expanding the boundaries of product design technologies 25
5.5 DRO Impact Analysis 26
5.5.1 5.6 Market Trends 27
6 Deployment Type: Market Size and Analysis 28
6.1 Overview 28
6.2 Cloud 28
6.3 On-premises 29
6.4 Hybrid 30
7 Digital twin type: Market Size and Analysis 31
7.1 Overview 31
7.2 Part twin 31
7.3 Product twin 32
7.4 Process twin 32
7.5 System twin 33
8 Applications: Market Size and Analysis 34
8.1 Overview 34
8.2 Business optimization 35
8.3 Operations Optimization 35
8.4 Asset Performance Management 36
8.5 Edge Computing 37
8.6 Cyber Security 38
8.7 Others 38
9 Industries: Market Size and Analysis 40
9.1 Overview 40
9.2 Manufacturing 41
9.3 Power 42
9.4 Oil & Gas 43
9.5 Aviation 43
9.6 Smart cities 44
9.7 BFSI 45
9.8 Healthcare 45
9.9 Others 46
10 Regions: Market Size and Analysis 48
10.1 Overview 48
10.2 Americas 48
10.2.1 Overview 48
10.2.2 The US 50
10.2.3 Canada 50
10.2.4 Brazil 51
10.2.5 Mexico 51
10.2.6 Others 51
10.3 Europe 52
10.3.1 Overview 52
10.3.2 The UK 53
10.3.3 Germany 54
10.3.4 Russia 54
10.3.5 Switzerland 54
10.3.6 Poland 54
10.3.7 Czech Republic 55
10.3.8 Sweden 55
10.3.9 Others 55
10.4 Asia Pacific 56
10.4.1 Overview 56
10.4.2 China 57
10.4.3 Japan 57
10.4.4 South Korea 58
10.4.5 Australia 58
10.4.6 Singapore 58
10.4.7 India 59
10.4.8 Others 59
10.5 Rest of the World 60
10.5.1 Overview 60
10.5.2 South Africa 61
10.5.3 Iran 61
10.5.4 Qatar 62
10.5.5 Others 62
11 Vendors Profile 63
11.1 IBM Corp. 63
11.1.1 Overview 63
11.1.2 Business Unit 64
11.1.3 Geographic Revenue 65
11.1.4 Business Focus 66
11.1.5 SWOT Analysis 66
11.1.6 Business Strategy 67
11.2 Siemens Ltd. 68
11.2.1 Overview 68
11.2.2 Business Units 69
11.2.3 Geographic Revenue 70
11.2.4 Business Focus 70
11.2.5 SWOT Analysis 71
11.2.6 Business Strategies 71
11.3 AT & T Inc. 73
11.3.1 Overview 73
11.3.2 Business units 73
11.3.3 Geographic revenue 75
11.3.4 Business focus 75
11.3.5 SWOT analysis 75
11.3.6 Business strategies 76
11.4 Infosys Limited 77
11.4.1 Overview 77
11.4.2 Business Units 77
11.4.3 Geographic Revenue 78
11.4.4 Business Focus 79
11.4.5 SWOT Analysis 79
11.4.6 Business Strategy 80
11.5 General Electric 81
11.5.1 Overview 81
11.5.2 Business Units 81
11.5.3 Geographic Revenue 81
11.5.4 Business Focus 81
11.5.5 SWOT Analysis 81
11.5.6 Business Strategy 82
12 Companies to Watch for 83
12.1 Concirrus 83
12.1.1 Overview: 83
12.1.2 Product Offering 83
12.2 DIGITAL TWIN 83
12.2.1 Overview 83
12.2.2 Product Offering 83
12.3 TwinThread, LLC 84
12.3.1 Overview 84
12.3.2 Product Offering 84
12.4 SimScale GmbH 84
12.4.1 Overview 84
12.4.2 Product Offering 85
13 Competitive Landscape 86
13.1 Competitor Comparison Analysis 86
Annexure 87
Abbreviations 87


List Of Tables



TABLE 1 GLOBAL DIGITAL TWIN MARKET REVENUE BY DEPLOYMENT TYPE, 2017-2023 ($BILLION) 28
TABLE 2 GLOBAL DIGITAL TWIN MARKET GROWTH BY DEPLOYMENT TYPE, 20172023 (Y-O-Y) % 28
TABLE 3 GLOBAL DIGITAL TWIN MARKET REVENUE BY TYPE, 2017-2023 ($BILLION) 31
TABLE 4 GLOBAL DIGITAL TWIN MARKET GROWTH BY DEVICE TYPE, 2017-2023 (Y-O-Y) % 31
TABLE 5 GLOBAL DIGITAL TWIN MARKET REVENUE BY USE-CASE, 2017-2023 ($BILLION) 34
TABLE 6 GLOBAL DIGITAL TWIN MARKET GROWTH BY USE-CASE, 2017-2023 (Y-O-Y) % 34
TABLE 7 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($BILLION) 40
TABLE 8 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) % 41
TABLE 9 GLOBAL DIGITAL TWIN MARKET REVENUE BY REGION, 2017-2023 ($BILLION) 48
TABLE 10 GLOBAL DIGITAL TWIN MARKET GROWTH BY REGION, 2017-2023 (Y-O-Y) % 48
TABLE 11 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($MILLION) 48
TABLE 12 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) % 49
TABLE 13 GLOBAL DIGITAL TWIN TYPE IN AMERICAS MARKET REVENUE BY REGION, 2017-2023 ($MILLION) 49
TABLE 14 GLOBAL DIGITAL TWIN TYPE IN AMERICAS MARKET GROWTH BY REGION, 2017-2023 (Y-O-Y) % 49
TABLE 15 GLOBAL DIGITAL TWIN MARKET REVENUE IN EUROPE, 2017-2023 ($MILLION) 52
TABLE 16 GLOBAL DIGITAL TWIN MARKET GROWTH IN EUROPE, 2017-2023 (Y-O-Y) % 52
TABLE 17 GLOBAL DIGITAL TWIN TYPE MARKET REVENUE IN EUROPE, 2017-2023 ($MILLION) 53
TABLE 18 GLOBAL DIGITAL TWIN TYPE MARKET GROWTH IN EUROPE, 2017-2023 (Y-O-Y) % 53
TABLE 19 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($MILLION) 56
TABLE 20 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) % 56
TABLE 21 GLOBAL DIGITAL TWIN TYPE MARKET REVENUE IN APAC, 2017-2023 ($MILLION) 57
TABLE 22 GLOBAL DIGITAL TWIN TYPE MARKET GROWTH IN APAC, 2017-2023 (Y-O-Y) % 57
TABLE 23 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($MILLION) 60
TABLE 24 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) % 60
TABLE 25 GLOBAL DIGITAL TWIN TYPE MARKET REVENUE IN ROW, 2017-2023 ($MILLION) 60
TABLE 26 GLOBAL DIGITAL TWIN TYPE MARKET GROWTH IN ROW, 2017-2023 (Y-O-Y) % 61


List Of Figures

Charts

CHART 1 PEST ANALYSIS OF GLOBAL DIGITAL TWIN MARKET 11
CHART 2 RESEARCH METHODOLOGY OF GLOBAL DIGITAL TWIN MARKET 14
CHART 3 GLOBAL LIVE STREAM MARKET REVENUE, 20172023 ($BILLION) 16
CHART 4 GLOBAL DIGITAL TWIN MARKET REVENUE, 2017-2023 ($BILLION) 17
CHART 5 PORTER 5 FORCES LIVE STREAM MARKET IN ASIA 19
CHART 6 EVOLUTION OF LIVE STREAM MARKET IN ASIA 20
CHART 7 ECOSYSTEM OF GLOBAL DIGITAL TWIN MARKET 21
CHART 8 MARKET SEGMENTATATION OF GLOBAL DIGITAL TWIN MARKET 22
CHART 9 MARKET DYNAMICS DRIVERS, RESTRAINTS & OPPORTUNITIES 23
CHART 10 DRO - IMPACT ANALYSIS OF GLOBAL DIGITAL TWIN MARKET 26
CHART 11 CLOUD MARKET REVENUE, 2017-2023 ($BILLION) 28
CHART 12 ON-PREMISES MARKET REVENUE, 2017-2023 ($BILLION) 29
CHART 13 HYBRID MARKET REVENUE, 2017-2023 ($BILLION) 30
CHART 14 PART TWIN MARKET REVENUE, 2017-2023 ($BILLION) 31
CHART 15 PRODUCT TWIN REVENUE, 2017-2023 ($BILLION) 32
CHART 16 PROCESS TWIN REVENUE, 2017-2023 ($BILLION) 33
CHART 17 SYSTEM TWIN MARKET REVENUE, 2017-2023 ($BILLION) 33
CHART 18 BUSINESS OPTIMIZATION REVENUE, 20172023 ($BILLION) 35
CHART 19 OPERATIONS OPTIMIZATION MARKET REVENUE, 2017-2023 ($BILLION) 36
CHART 20 ASSET PERFORMANCE MANAGEMENT REVENUE, 2017-2023 ($BILLION) 36
CHART 21 EDGE COMPUTING MARKET REVENUE, 2017-2023 ($BILLION) 37
CHART 22 CYBER SECURITY MARKET REVENUE, 2017-2023 ($BILLION) 38
CHART 23 OTHERS MARKET REVENUE, 2017-2023 ($BILLION) 38
CHART 24 MANUFACTURING MARKET REVENUE, 2017-2023 ($BILLION) 41
CHART 25 POWER MARKET REVENUE, 2017-2023 ($BILLION) 42
CHART 26 OIL & GAS MARKET REVENUE, 2017-2023 ($BILLION) 43
CHART 27 AVIATION MARKET REVENUE, 2017-2023 ($BILLION) 43
CHART 28 SMART CITIES MARKET REVENUE, 2017-2023 ($BILLION) 44
CHART 29 BFSI MARKET REVENUE, 2017-2023 ($BILLION) 45
CHART 30 HEALTHCARE MARKET REVENUE, 2017-2023 ($BILLION) 45
CHART 31 OTHERS MARKET REVENUE, 2017-2023 ($BILLION) 46
CHART 32 IBM: OVERVIEW SNAPSHOT 63
CHART 33 IBM: BUSINESS UNITS 64
CHART 34 IBM: GEOGRAPHIC REVENUE 65
CHART 35 IBM: SWOT ANALYSIS 66
CHART 36 SIEMENS COMPANY PROFILE: MARKET OUTLOOK 68
CHART 37 SIEMENS: BUSINESS UNITS 69
CHART 38 SIEMENS: GEOGRAPHIC REVENUE 70
CHART 39 SIEMENS: SWOT ANALYSIS 71
CHART 40 AT & T: OVERVIEW SNAPSHOT 73
CHART 41 AT & T: BUSINESS UNITS 73
CHART 42 AT & T: GEOGRAPHIC REVENUE 75
CHART 43 AT&T: SWOT ANALYSIS 75
CHART 44 INFOSYS: OVERVIEW SNAPSHOT 77
CHART 45 INFOSYS: BUSINESS UNITS 77
CHART 46 INFOSYS: GEOGRAPHIC REVENUE 78
CHART 47 INFOSYS: SWOT ANALYSIS 79
CHART 48 GENERAL ELECTRIC: OVERVIEW SNAPSHOT 81
CHART 49 GENERAL ELECTRIC: BUSINESS UNITS 81
CHART 50 GENERAL ELECTRIC: GEOGRAPHIC REVENUE 81
CHART 51 GENERAL ELECTRIC: SWOT ANALYSIS 81
CHART 52 GLOBAL DIGITAL TWIN: COMPETITIVE LANDSCAPE 86


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Reports Details

Published Date : Aug 2017
No. of Pages :88
Country :Global
Category :Technology
Publisher :Infoholic Research
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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