Global digital twin market is projected to grow from $ 3.1 billion in 2018 to $ 17.4 billion by 2024, exhibiting a CAGR of more than 33% during 2019-2024, on account of rising adoption of Industrial Internet of Things (IIoT) and use of virtual model for production line & automate the decision process. Some of the other factors expected to drive global digital twin market include rising adoption of connected devices and Industry 4.0, which refers to the application of mining and data analytics in manufacturing technologies. Moreover, rising technology demand in diverse sectors including energy & utilities, consumer goods and transportation would fuel digital twin market, globally, through 2024.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To define, classify and forecast global digital twin market on the basis of application, end use sector, region and company.
  • To analyze and forecast global digital twin market size.
  • To scrutinize the detailed market segmentation and forecast the market size on the basis of end user sector by segmenting global digital twin market into various end-use sectors, namely, manufacturing, transportation, energy & utilities, healthcare, consumer goods and others (aerospace & defense, agriculture, etc.)
  • To scrutinize the detailed market segmentation and forecast the market size on the basis of regions, namely, Asia-Pacific, South America, North America, MEA and South America.
  • To identify the drivers and challenges for the global digital twin market.
  • To strategically profile the leading players operating in global digital twin market.  



Click here to download the brochure 

Some of the leading players in global digital twin market include General Electric Company, IBM Corporation, Microsoft Corporation, Oracle Corporation, PTC Inc., ANSYS, Inc., Dassault Systèmes, Siemens AG, Bosch Software Innovation Gmbh and SAP SE.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of digital twin software developers, procurers and industry experts. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the product offerings or variants, distribution channels, and regional presence of major digital twin software providers.

TechSci Research calculated global digital twin market size by using a bottom-up approach, where data standard applications (user sectors such as Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods and Others) was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and these were externally validated through analyzing historical data of digital twin market to arrive at the overall market size. Various secondary sources such as company websites, annual reports, World Bank website, government websites, press releases, company annual reports, whitepapers, investor presentations and financial reports were also reviewed by TechSci Research.



Key Target Audience:

  • Digital Twin Software Providers and other stakeholders
  • IoT Vendors
  • End users of Digital Twin such as Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods and Others
  • Application or Software Developers, Entrepreneurs, Digital Twin Software Integrators
  • Associations, Organizations, Forums and Alliances associated with Digital Twin Technology & Start ups Government bodies such as regulating authorities and policy makers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as digital twin software providers, procurers, customers and policy makers. The report would enable the stakeholders in identifying which market segments should be targeted in the coming years and accordingly strategize investments and capitalize on the growth opportunities.

Report Scope:

In this report, global digital twin market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

  • Market, by Application:
    • Manufacturing Process Planning
    • Product Design
    • Others  
  • Market, by End Use Sector:
    • Manufacturing
    • Transportation
    • Energy & Utilities
    • Healthcare
    • Consumer Goods
    • Others  
  • Market, by Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • Rest of Region
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • India
      • Singapore
      • Rest of Region
    • Middle East & Africa
      • Turkey
      • Saudi Arabia
      • UAE
      • South Africa
      • Rest of Region
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Rest of Region

Competitive Landscape

Competition Benchmarking: Benchmarking of leading 10 players

Company Profiles: Detailed analysis of the major companies providing digital twin software.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

  • Five more players in the market
  • Further bifurcation in the regional market

In case you can’t find what you are looking for then please get in touch with our custom research team at sales@techsciresearch.com

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.       Product Overview

2.       Research Methodology

3.       Analyst View

4.       Voice of Customer

4.1.    User vs Non User Group Analysis

4.2.    Digital Twin Software, By Type Analysis

4.3.    Digital Twin Software Usage, By Industrial Asset Analysis

4.4.    Digital Twin Software Usage, By Type of Application

4.5.    Existing Software Satisfaction Analysis

5.       Global Digital Twin Market Landscape

6.       Global Digital Twin Market Outlook

6.1.    Market Size & Forecast

6.1.1.By Value

6.2.    Market Share & Forecast

6.2.1.By Application (Manufacturing Process Planning, Product Design & Others)

6.2.2.By End User Sector (Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods & Others)

6.2.3.By Region (North America, Europe, Asia-Pacific, South America & Middle East & Africa)

6.2.4.By Company

7.       Global Digital Twin Market Attractiveness Index

7.1.    By Application

7.2.    By End User Sector

7.3.    By Region

8.       North America Digital Twin Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Application (Manufacturing Process Planning, Product Design & Others)

8.2.2.By End User Sector (Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods & Others)

8.2.3.By Country

8.2.3.1.   United States Digital Twin Market Outlook

8.2.3.1.1.     Market Size & Outlook            

8.2.3.1.1.1.   By Value             

8.2.3.1.2.     Market Share & Forecast

8.2.3.1.2.1.   By End User Sector         

8.2.3.2.   Canada Digital Twin Market Outlook              

8.2.3.2.1.     Market Size & Outlook            

8.2.3.2.1.1.   By Value              

8.2.3.2.2.     Market Share & Forecast       

8.2.3.2.2.1.   By End User Sector         

8.2.3.3.   Mexico Digital Twin Market Outlook              

8.2.3.3.1.     Market Size & Outlook            

8.2.3.3.1.1.   By Value              

8.2.3.3.2.     Market Share & Forecast

8.2.3.3.2.1.   By End User Sector         

9.       Europe Digital Twin Market Outlook              

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Application (Manufacturing Process Planning, Product Design & Others)

9.2.2.By End User Sector (Aerospace & Defense, Automotive, Manufacturing, Healthcare, Energy & Utilities & Others)

9.2.3.By Country

9.2.3.1.   Germany Digital Twin Market Outlook

9.2.3.1.1.     Market Size & Outlook

9.2.3.1.1.1.   By Value             

9.2.3.1.2.     Market Share & Forecast

9.2.3.1.2.1.   By End User Sector         

9.2.3.2.   United Kingdom Digital Twin Market Outlook            

9.2.3.2.1.     Market Size & Outlook

9.2.3.2.1.1.   By Value              

9.2.3.2.2.     Market Share & Forecast

9.2.3.2.2.1.   By End User Sector         

9.2.3.3.   France Digital Twin Market Outlook

9.2.3.3.1.     Market Size & Outlook

9.2.3.3.1.1.   By Value              

9.2.3.3.2.     Market Share & Forecast

9.2.3.3.2.1.   By End User Sector         

9.2.3.4.   Italy Digital Twin Market Outlook    

9.2.3.4.1.     Market Size & Outlook            

9.2.3.4.1.1.   By Value             

9.2.3.4.2.     Market Share & Forecast       

9.2.3.4.2.1.   By End User Sector         

9.2.3.5.   Spain Digital Twin Market Outlook  

9.2.3.5.1.     Market Size & Outlook

9.2.3.5.1.1.   By Value             

9.2.3.5.2.     Market Share & Forecast

9.2.3.5.2.1.   By End User Sector         

10.   Asia-Pacific Digital Twin Market Outlook

10.1.  Market Size & Forecast

10.1.1.    By Value

10.2.  Market Share & Forecast

10.2.1.    By Application (Manufacturing Process Planning, Product Design & Others)

10.2.2.    By End User Sector (Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods & Others)

10.2.3.    By Country         

10.2.3.1.    China Digital Twin Market Outlook              

10.2.3.1.1. Market Size & Outlook

10.2.3.1.1.1.  By Value            

10.2.3.1.2. Market Share & Forecast       

10.2.3.1.2.1.  By End User Sector       

10.2.3.2.    Japan Digital Twin Market Outlook              

10.2.3.2.1. Market Size & Outlook            

10.2.3.2.1.1.  By Value           

10.2.3.2.2. Market Share & Forecast       

10.2.3.2.2.1.  By End User Sector       

10.2.3.3.    South Korea Digital Twin Market Outlook

10.2.3.3.1. Market Size & Outlook

10.2.3.3.1.1.  By Value           

10.2.3.3.2. Market Share & Forecast

10.2.3.3.2.1.  By End User Sector       

10.2.3.4.    India Digital Twin Market Outlook

10.2.3.4.1. Market Size & Outlook

10.2.3.4.1.1.  By Value

10.2.3.4.2. Market Share & Forecast

10.2.3.4.2.1.  By End User Sector

10.2.3.5.    Singapore Digital Twin System Market Outlook

10.2.3.5.1. Market Size & Outlook

10.2.3.5.1.1.  By Value

10.2.3.5.2. Market Share & Forecast

10.2.3.5.2.1.  By End User Sector

11.   Middle East & Africa Digital Twin Market Outlook

11.1.  Market Size & Forecast

11.1.1.    By Value

11.2.  Market Share & Forecast

11.2.1.    By Application (Manufacturing Process Planning, Product Design & Others)

11.2.2.    By End User Sector (Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods & Others)

11.2.3.    By Country

11.2.3.1.    Turkey Digital Twin Market Outlook

11.2.3.1.1. Market Size & Outlook

11.2.3.1.1.1.  By Value

11.2.3.1.2. Market Share & Forecast

11.2.3.1.2.1.  By End User Sector

11.2.3.2.    Saudi Arabia Digital Twin Market Outlook 

11.2.3.2.1. Market Size & Outlook

11.2.3.2.1.1.  By Value            

11.2.3.2.2. Market Share & Forecast       

11.2.3.2.2.1.  By End User Sector       

11.2.3.3.    UAE Digital Twin Market Outlook

11.2.3.3.1. Market Size & Outlook

11.2.3.3.1.1.  By Value            

11.2.3.3.2. Market Share & Forecast       

11.2.3.3.2.1.  By End User Sector       

11.2.3.4.    South Africa Digital Twin Market Outlook 

11.2.3.4.1. Market Size & Outlook            

11.2.3.4.1.1.  By Value           

11.2.3.4.2. Market Share & Forecast       

11.2.3.4.2.1.  By End User Sector       

12.   South America Digital Twin Market Outlook              

12.1.  Market Size & Forecast              

12.1.1.    By Value             

12.2.  Market Share & Forecast          

12.2.1.    By Application (Manufacturing Process Planning, Product Design & Others)          

12.2.2.    By End User Sector (Manufacturing, Transportation, Energy & Utilities, Healthcare, Consumer Goods & Others)    

12.2.3.    By Country

12.2.3.1.    Brazil Digital Twin Market Outlook

12.2.3.1.1. Market Size & Outlook

12.2.3.1.1.1.  By Value

12.2.3.1.2. Market Share & Forecast

12.2.3.1.2.1.  By End User Sector

12.2.3.2.    Argentina Digital Twin Market Outlook      

12.2.3.2.1. Market Size & Outlook

12.2.3.2.1.1.  By Value            

12.2.3.2.2. Market Share & Forecast       

12.2.3.2.2.1.  By End User Sector       

12.2.3.3.    Colombia Digital Twin Market Outlook       

12.2.3.3.1. Market Size & Outlook

12.2.3.3.1.1.  By Value            

12.2.3.3.2. Market Share & Forecast       

12.2.3.3.2.1.  By End User Sector       

13.   Market Dynamics

13.1.  Impact Analysis

13.2.  Drivers

13.3.  Challenges

14.   Market Trends & Developments

15.   Competitive Landscape

15.1.  Competitive Benchmarking

15.2.  Company Profiles

15.2.1.    Siemens AG

15.2.2.    General Electric Company

15.2.3.    IBM Corporation

15.2.4.    SAP SE

15.2.5.    Microsoft Corporation

15.2.6.    PTC Inc.

15.2.7.    ANYSYS, Inc.

15.2.8.    Oracle Corporation

15.2.9.    Dassault Systèmes

15.2.10.    Bosch Software Innovations GmbH

16.   Strategic Recommendations

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com
  • List of Figures:

     

    Figure 1: Percentage of Digital Twin Users vs Non-Users (N=125)

    Figure 2: Percent Usage Share by Type of Digital Twin Software (N=103)

    Figure 3: Digital Twin Usage Percent Share, By Type of Industrial Asset (N=103)

    Figure 4: Digital Twin Usage Percent Share, By Type of Application (N=103)

    Figure 5: Satisfaction Score - Existing Digital Twin Software (N=103)

    Figure 6: Global Digital Twin Market Size, By Value, 2014-2018 (USD Million)

    Figure 7: Global Digital Twin Market Size, By Value, 2019E-2024F (USD Million)

    Figure 8: Global Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 9: Global Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 10: Global Digital Twin Market Share, By Region, By Value, 2014-2024F (USD Million)

    Figure 11: Global Digital Twin Market Share, By Company, By Value, 2018 (USD Million)

    Figure 12: Global Digital Twin Market Attractiveness Index, By Application, By Value, 2019E-2024F

    Figure 13: Global Digital Twin Market Attractiveness Index, By End User Sector, By Value, 2019E-2024F

    Figure 14: Global Digital Twin Market Attractiveness Index, By Region, By Value, 2019E-2024F

    Figure 15: North America Digital Twin Market Size, By Value, 2014-2018 (USD Million)

    Figure 16: North America Digital Twin Market Size, By Value, 2019E-2024F (USD Million)

    Figure 17: North America Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 18: North America Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 19: North America Digital Twin Market Share, By Country, By Value, 2014-2024F

    Figure 20: United States’ Share in North America Digital Twin Market, By Value, 2018 & 2024F

    Figure 21: United States Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 22: Canada’s Share in North America Digital Twin Market, By Value, 2018 & 2024F

    Figure 23: Canada Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 24: Mexico’s Share in North America Digital Twin Market, By Value, 2018 & 2024F

    Figure 25: Mexico Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 26: Europe Digital Twin Market Size, By Value, 2014-2018 (USD Million)

    Figure 27: Europe Digital Twin Market Size, By Value, 2019E-2024F (USD Million)

    Figure 28: Europe Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 29: Europe Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 30: Europe Digital Twin Market Share, By Country, By Value, 2014-2024F

    Figure 31: Germany’s Share in Europe Digital Twin Market, By Value, 2018 & 2024F

    Figure 32: Germany Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 33: United Kingdom’s Share in Europe Digital Twin Market, By Value, 2018 & 2024F

    Figure 34: United Kingdom Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 35: France’s Share in Europe Digital Twin Market, By Value, 2018 & 2024F

    Figure 36: France Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 37: Italy’s Share in Europe Digital Twin Market, By Value, 2018 & 2024F

    Figure 38: Italy Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 39: Spain’s Share in Europe Digital Twin Market, By Value, 2018 & 2024F

    Figure 40: Spain Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 41: Asia-Pacific Digital Twin Market Size, By Value, 2014-2028 (USD Million)

    Figure 42: Asia-Pacific Digital Twin Market Size, By Value, 2019E-2024F (USD Million)

    Figure 43: Asia-Pacific Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 44: Asia-Pacific Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 45: Asia-Pacific Digital Twin Market Share, By Country, By Value, 2014-2024F

    Figure 46: China’s Share in Asia-Pacific Digital Twin Market, By Value, 2018 & 2024F

    Figure 47: China Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 48: Japan’s Share in Asia-Pacific Digital Twin Market, By Value, 2018 & 2024F

    Figure 49: Japan Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 50: South Korea’s Share in Asia-Pacific Digital Twin Market, By Value, 2018 & 2024F

    Figure 51: South Korea Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 52: India’s Share in Asia-Pacific Digital Twin Market, By Value, 2018 & 2024F

    Figure 53: India Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 54: Singapore’s Share in Asia-Pacific Digital Twin Market, By Value, 2018 & 2024F

    Figure 55: Singapore Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 56: Middle East & Africa Digital Twin Market Size, By Value, 2014-2018 (USD Million)

    Figure 57: Middle East & Africa Digital Twin Market Size, By Value, 2019E-2024F (USD Million)

    Figure 58: Middle East & Africa Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 59: Middle East & Africa Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 60: Middle East & Africa Digital Twin Market Share, By Country, By Value, 2014-2024F

    Figure 61: Turkey’s Share in Middle East & Africa Digital Twin Market, By Value, 2018 & 2024F

    Figure 62: Turkey Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 63: Saudi Arabia’s Share in Middle East & Africa Digital Twin Market, By Value, 2018 & 2024F

    Figure 64: Saudi Arabia Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 65: UAE’s Share in Middle East & Africa Digital Twin Market, By Value, 2018 & 2024F

    Figure 66: UAE Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 67: South Africa’s Share in Middle East & Africa Digital Twin Market, By Value, 2018 & 2024F

    Figure 68: South Africa Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 69: South America Digital Twin Market Size, By Value, 2014-2018 (USD Million)

    Figure 70: South America Digital Twin Market Size, By Value, 2019E-2024F (USD Million)

    Figure 71: South America Digital Twin Market Share, By Application, By Value, 2014-2024F

    Figure 72: South America Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 73: South America Digital Twin Market Share, By Country, By Value, 2014-2024F

    Figure 74: Brazil’s Share in South America Digital Twin Market, By Value, 2018 & 2024F

    Figure 75: Brazil Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 76: Argentina’s Share in South America Digital Twin Market, By Value, 2018 & 2024F

    Figure 77: Argentina Digital Twin Market Share, By End User Sector, By Value, 2014-2024F

    Figure 78: Colombia’s Share in South America Digital Twin Market, By Value, 2018 & 2024F

    Figure 79: Colombia Digital Twin Market Share, By Application, By Value, 2014-2024F

     

     

    List of Tables

     

    Table 1. United States Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 2. Canada Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 3. Mexico Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 4. Germany Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 5. United Kingdom Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 6. France Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 7. Italy Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 8. Spain Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 9. China Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 10. Japan Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 11. South Korea Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 12. India Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 13. Singapore Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 14. Turkey Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 15. Saudi Arabia Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 16. UAE Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 17. South Africa Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 18. Brazil Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 19. Argentina Digital Twin Market Size, By Value, 2014-2024F (USD Million)

    Table 20. Colombia Digital Twin Market Size, By Value, 2014-2024F (USD Million)