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System Digital Twins to Grow At the Highest CAGR during 2019-2025

The digital twin market is estimated to grow from USD 3.8 billion in 2019 to USD 35.8 billion by 2025, at a CAGR of 37.8%. Declining time and cost of product development and unplanned downtime with the adoption of digital twins, increasing adoption of emerging technologies such as IoT and cloud, and growing use of digital twin for predictive maintenance are among the factors fuelling the growth of the digital twin market. Furthermore, leading players adopt strategies such as product launches and developments to strengthen their market position.

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System Digital Twins to Grow At the Highest CAGR during 2019-2025

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  1. MarketsandMarkets Presents Digital Twin Market worth $35.8 billion by 2025 Digital Twin Market by Technology, Type (Product, Process, and System), Industry (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Healthcare, Energy & Utilities, Oil & Gas), and Geography - Global Forecast to 2025 https://www.marketsandmarkets.com/Market-Reports/digital-twin-market-225269522.html

  2. The digital twin market is estimated to grow from USD 3.8 billion in 2019 to USD 35.8 billion by 2025, at a CAGR of 37.8%. Declining time and cost of product development and unplanned downtime with the adoption of digital twins, increasing adoption of emerging technologies such as IoT and cloud, and growing use of digital twin for predictive maintenance are among the factors fuelling the growth of the digital twin market. Furthermore, leading players adopt strategies such as product launches and developments to strengthen their market position. The market for system digital twins to grow at the highest CAGR during the forecast period. Several industries are focusing on digital twin of the complete system digital twin for better performance and predictive maintenance, which, in turn, is expected to boost the demand for system digital twin during the forecast period. Browse 51 market data Tables and 44 Figures spread through 133 Pages and in-depth TOC on "Digital Twin Market - Global Forecast to 2025"

  3. Digital twins are increasingly used in automotive & transportation, aerospace & defense, healthcare, and other industries. Digital twin types such as product, process, and system digital twins are widely used for designing, monitoring, controlling, and predictive maintenance of various types in several industries. The increasing adoption of digital twin in North America for industries such as aerospace & defense, automotive & transportation, and home & commercial are boosting the growth of this market. Additionally, the increasing adoption of emerging technologies such as IoT and cloud for the implementation of digital twin is also driving this market. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=225269522 The digital twin market in APAC is expected to grow at the highest CAGR during the forecast period. The growth of the digital twin market in APAC is primarily due to increasing manufacturing facilities across various industries in this region. Furthermore, emerging economies such as China and India have a huge potential for creating digital transformation in manufacturing industries. Moreover, dense population and growing per capita income of this region along with large-scale industrialization and urbanization, and increasing adoption of IoT are the factors driving the growth of the digital twin market in this region.

  4. Key Market Players • A few major vendors in the digital twin market include General Electric (US), IBM (US), PTC (US), Microsoft Corporation (US), Siemens AG (Germany), ANSYS (US), SAP (Germany), Oracle (US), Robert Bosch (Germany), and SWIM.AI (US). • Request Free Sample Pages: • https://www.marketsandmarkets.com/requestsampleNew.asp?id=225269522 • Recent developments • In February 2019, ANSYS launched ANSYS Twin Builder, which empowers organizations to optimize product operations and accelerate product development. • In March 2019, Siemens signed an acquisition agreement with a Saab Medav Technologies GmbH (Germany) for noise, vibration, and harshness (NVH) end-of-line quality testing business of Saab. This acquisition improved the quality testing for Siemens product digital twin. • In June 2018, ANSYS and SAP (Germany) partnered to build unique solutions for predictive maintenance of industrial assets, enabled by ANSYS Twin Builder.

  5. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  6. Contact Us Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:newsletter@marketsandmarkets.com For More Info: https://www.marketsandmarkets.com/PressReleases/digital-twin.asp

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