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Digital Twins Market Forecast(2018–2023)

The global digital twin market by revenue was estimated at $1.21 billion in 2016 and is forecast to hit the $12.03 billion mark by 2023, growing at a CAGR of 39.8% during the forecast period 2018–2023.

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Digital Twins Market Forecast(2018–2023)

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  1. A Close Look At The Latest Research Trends Within The Digital Twins Market

  2. North America Dominates Share in Digital Twins North America Dominates Share in Digital Twins Market Market  The digital twin technology market is foreseen maintain its dominance in by North America. The North America region is mainly dominated by the U.S. and Canada and is attributed by spatial data in the region. The factors that attribute to this growth are increasing adoption in IoT technology by several large and medium scale organizations in the coming years.  The use of digital twin technology helps in improving the overall operational performance. Asia is the next expected region to grow significantly in market share contributing by aerospace and defense, automotive, electronics, energy and utilities.

  3. Selected Regulatory Analysis Done in the Full Selected Regulatory Analysis Done in the Full Report: Report:  Digital twin market is segmented on the basis of applications and end user. The application segment is further divided into dynamic optimization, predictive maintenance, product design and development, machine & equipment health monitoring. Currently the digital twin concept is growing extensively in designing and repairing of airplanes and turbines.  The market of expected to grip effectively in terms of revenue for the forecast period and it’s all because of internet of thethings. Digitaltwin technologies prove to very effective and hence helpful in a cost effective and providing better solutions for industrial manufacturing.

  4. Selected Driving Factors Mentioned in the Full Report  In the energy industry usage of digital twins in turbine, functions in informing an operator in its absence, when an asset begins to show signs of non-optimal execution, without an engineer having access to the physical turbine. This will help the industry to minimize the risk of unexpected downtime. Hence, improved operation, reduced in outrages and better managed variants will increase the adoption in the future.  In highly digitized factories, real time enterprise decisionmanagementcan be made using digital twin products. The machine will collect data over a period of time and will enable digital prototypes to help human operators make better decisions. In such case it will develop intelligence that will feed advancements in the future.

  5. Key Players of the Key Players of the Digital Twins Market  General Electric  Microsoft Corporation  International Business Machines Corporation (IBM)  Crypto Move  Oracle CorporationEchoworx  Parametric Technology Corporation (PTC) Download Sample Report Contact : sales@industryarc.com

  6. You Can Customize the Report as Per Your Need. We have included Some Customization Options Key Key Analyst Analyst Briefing Briefing Data Tables Company Profile Contacts Contacts

  7. About IndustryARC IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.

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