Digital Twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance. Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
Top 5 suppliers took up about 80% of the global market in 2016. GE, PTC, Siemens, Dassault Systèmes, which have leading technology and market position, are well-known suppliers around the world. Other players, like SAP and Mackevision from Germany, Toshiba from Japan, Huawei from China, Cybernet Systems from Canada, TCS (Partner of Dassault Systèmes) from India, Altair from the USA, etc., are also said the new players of Digital Twin technology in 2017.
USA is the largest market of Digital Twin in the world in the past few years and it will keep increasing in the next few years. USA market took up about 56% the global market in 2016, while Europe was about 43%.
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China, Japan, India and S. Korea, etc. are now the key developing market of Digital Twin in the future while they are all just at the beginning of digital twin technology. There are few vendors to have digital twin technology, and the Chinese market is still much smaller than the USA. Chinese AVIC have signed an agreement with French Dassault Systèmes to develop the digital twin in Jun. 2017.
Over the next five years, projects that Digital Twin will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Digital Twin market by product type, application, key companies and key regions.
To calculate the market size, considers value generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
Aerospace & Defense
Automotive & Transportation
Energy & Utilities
We can also provide the customized separate regional or country-level reports, for the following regions:
Middle East & Africa
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The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market.
The key players covered in this report:
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Digital Twin market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Digital Twin market by identifying its various subsegments.
Focuses on the key global Digital Twin players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Digital Twin with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Digital Twin submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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