DUBLIN--(BUSINESS WIRE)--The "Digital Twin Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023" report has been added to Research and Markets' offering.
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.
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.
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Deployment Type: Market Size and Analysis
7 Digital twin type: Market Size and Analysis
8 Applications: Market Size and Analysis
9 Industries: Market Size and Analysis
10 Regions: Market Size and Analysis
11 Vendors Profile
12 Companies to Watch for
13 Competitive Landscape
- AT&T Inc.
- DIGITAL TWIN
- General Electric
- IBM Corp.
- Infosys Limited
- Siemens Ltd.
- SimScale GmbH
- TwinThread, LLC
For more information about this report visit https://www.researchandmarkets.com/research/w9f834/digital_twin