As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
A strong demand from the electronic and electrical/machine manufacturing sector will continue to usher growth for the global digital twin market during the forecast period (2018-2025). The market is expected to surge at a compound annual growth rate of 42.54% till 2025. The popularity of digital twin technology is being partly driven by the rapid adoption of 3D printing and 3D simulation. There has been a fast proliferation of the technology in advanced countries in North America, Europe and Asia. Digital twin is likely to find tremendous application opportunities across major industrial verticals in the years to come.
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The report offers a holistic viewpoint of the global digital twin market. It also includes revenue forecast in USD (Million) valuation. It is a 115-page report sectioned into 10 chapters. All the pertinent market element such as growth factors, industry trend, opportunities and threats are thoroughly covered in the report. It also includes a comprehensive segmental analysis of market deep-diving into different end-user applications of digital twin such as aerospace & defense, automotive & transportation, electronics & electrical/machine manufacturing, healthcare, retail, energy & utilities, home & commercial among others. A section of the report discusses various types of digital twin systems that are presently used.
ANSYS Inc., PTC Inc., SAP SE, Dassault Systemes SE, Microsoft Corporation, IBM Corporation, General Electric, Cisco Systems, Inc., Accenture PLC, Siemens AG, Oracle Corporation
The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, market share, regional presence, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report
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MRFR employs a highly efficient research methodology for deriving market insights. The quintessential research techniques allow market observation and analysis of the highest standards. Comprehensive secondary and primary research, which covers a vast range of resources such as white papers, annual reports, paid database, SEC filings, interviews with industry experts, surveys, etc. A robust verification system is deployed to validate research finding and ensure zero ambiguity. In addition, market size is determined using top-down and bottom-up approaches. A multilayer data evaluation process confirms precise outcomes and market projections.
Market Denomination- USD Mn
Base Year- 2017
Forecast Period- from 2018 to 2025
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for digital twin
By End-User Application
Aerospace & Defense
Aircraft Engine Design and Production
Automotive & Transportation
Vehicle Designing & Simulation
Electronics & Electrical/Machine Manufacturing
Medical Device Simulation
Energy & Utilities
Wind & Gas Turbines
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Home & Commercial
The Middle East & Africa (MEA)
Original Equipment Manufacturers (OEMs)
Digital Twin Service Providers
Organizations, Associations and Alliances
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