Digital Twin Market Size Worth $26.07 Billion by 2025 | CAGR 38.2%

Grand View Research, Inc. - Seite 2

The digital twin technology is gaining traction owing to its potential to bridge the gap between the physical world and virtual world. The global market is expected to grow significantly over the forecast period in line with the growing adoption of Internet of Things (IoT) and big data analytics. Other factors responsible for this growth include rising need for cost-efficient operations, optimizing the processes, and reducing the Time to Market (TTM). At the same time, the way digital twins are created would continue to evolve in line with the innovations in the field of Virtual Reality (VR) and Augmented Reality (AR), thereby boosting the growth of the market.

Healthcare and life sciences, aerospace and defense, automotive and transport, manufacturing, and energy and utilities are some of the key end-use industries for the digital twin technology. Incumbents of these industries are particularly adopting the technology to enhance efficiency, augment productivity, ensure cost-efficient operations, and streamline the processes. For instance, hospitals can create a digital twin of their systems as part of the efforts to gauge the impact of any prospective changes to their systems and ensure a safer environment. Similarly, a surgeon can create a digital twin of the heart and study it before performing a surgery. The technology is also helping companies in adopting lean manufacturing.

Grand View Research has segmented the global digital twin market on the basis of end use and region:

• Digital Twin End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Manufacturing
• Agriculture
• Automotive & Transport
• Energy & Utilities
• Healthcare & Life Sciences
• Residential & Commercial
• Retail & Consumer Goods
• Others
• Digital Twin Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• MEA

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