Digital Twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance.
Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
China, Japan, India and S. Korea, etc. are now the key developing market of Digital Twin in the future while they are all just at the beginning of digital twin technology. There are few vendors to have digital twin technology, and the Chinese market is still much smaller than the USA. Chinese AVIC have signed an agreement with French Dassault Systèmes to develop the digital twin in Jun. 2017.
In 2018, the global Digital Twins market size was 1240 million US$ and it is expected to reach 13800 million US$ by the end of 2025, with a CAGR of 35.1% during 2019-2025.
This report focuses on the global Digital Twins status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Digital Twins development in United States, Europe and China.
The key players covered in this study
Market segment by Type, the product can be split into
Market segment by Application, split into
Aerospace & Defense
Automotive & Transportation
Energy & Utilities
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Digital Twins status, future forecast, growth opportunity, key market and key players.
To present the Digital Twins development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Digital Twins are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.