Global digital twin market to grow at a CAGR of 32.73% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Industrial Internet revolution. IIoT is a combination of big data analytics and IoT. It offers huge opportunities to organizations across sectors such as agriculture, healthcare, manufacturing, mining, oil and gas, and transportation. Currently, these sectors account for 60% of the global economy. Industrial Internet has created new job opportunities and a shift toward the integration of digital and human workforces.
According to the report, one of the major drivers for this market is Developments in sensor technologies and communication devices. Innovations in science and engineering, as well as advances in technology related to sensors, has led to the development of different types of sensors. As these sensors have various advantages such as low power consumption and prices, their demand is increasing. IT has become an integral part of industrial automation because of automation of several industrial processes. Opportunities for IT players will be significant as industries embrace IoT.
Further, the report states that one of the major factors hindering the growth of this market is High costs of implementation. The initial investment in IoT infrastructure is huge. The high cost of deployment and implementation of M2M and IoT can act as a growth inhibitor for some organizations, especially SMEs. IoT implementation takes longer, and most IT projects come with a lengthy project lifetime from system planning to retirement. M2M systems generally have a lifetime of more than 10 years. The setup and building phase alone can take a year or more.
- General Electric
Other Prominent Vendors
- Bosch Software Innovations
Key Topics Covered
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation by Deployment
Part 09: Customer Landscape
Part 10: Market Segmentation by End-User
Part 11: Regional Landscape
Part 12: Decision Framework
Part 13: Drivers and Challenges
Part 14: Market Trends
Part 15: Vendor Landscape
Part 16: Vendor Analysis
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