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Digital Twin Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023

July 2017 | 88 pages | ID: D45CD473C71EN
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Digital twin Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts upto 2023

Overview:

Globalization has made companies to focus more on digitalization both in the business and consumer market places. Over the past few years, IoT has been reaching milestones in the world of technology and it has paved the path for the evolution of various new technologies for enterprises. Digital twin is one such technology which is changing the industry dynamics. Digital twin refers to simulation modules of a physical object.

This technology is capable of supporting conceptualization, comparison, and collaboration for high-end innovations and problem-solving. Further, the technology provides real-time status and working conditions of the physical objects by accessing data from the sensors installed in the objects. Industry players benefit from this technology in terms of efficiency, higher productivity, lean manufacturing, and cost-effectiveness.

Digital twin works on a simulation platform connected to a predictive analytics platform and it integrates several manufacturing assets, underlying parts, and system processes in real-time with the help of sensors and communicates to the operator in a simulation module. The system senses data from a wide range of devices/machines and analyzes the work. Digital twin is currently used for reducing operational loss, designing and repairing of airplanes and turbines, controlling supply chain loss in a manufacturing plant, and others.

Market Revenue and Segmentation Analysis:

The digital twin market is expected to grow at a CAGR of 24.7% during the forecast period 2017-2023. The market is analyzed based on digital twin types, verticals, deployment type, applications, and regions. The digital twin types considered are product twin, part twin, process twin, and system twin, wherein the process and systems twins are at a high demand in the end-user industries owing to its wide functionalities. The deployment type segment includes, cloud-based, on-premises, and hybrid. Currently, cloud deployment is expected to contribute a major share followed by the on-premises and hybrid during the forecast period 2017-2023.

The applications covered are business optimization, operation optimization, asset performance management, edge computing, cyber security, and others. The business and process optimizations are set to bring the innovations in the digital twin technology as they control supply chain loss and offer better lean manufacturing capabilities and data driven solutions to improve the productivity.

Regions and Vertical Analysis:

The regions covered in report are Americas, Europe, Asia Pacific, and ROW. Among these, Americas is expected to grow at a higher CAGR during the forecast period 2017-2023. The US, Canada, the UK, Germany, and Japan are expected to adopt more digital twin technologies, and Brazil, Switzerland, and Poland are the emerging countries for the digital twin technology adoption owing to the policy changes for the development of their manufacturing capabilities and the rising trend for spending on industrial digital technologies.

Digital twin is used across industries, such as manufacturing, power, oil & gas, BFSI, healthcare, aviation, smart cities, and others. The manufacturing industry could receive a wide range of benefits from digital twin, from product designing to monitoring the plant operations, load forecasting, fleet dispatch, monitoring production losses, and expected delays in the production and others. In aviation and power industries, digital twin is used to monitor the working of machines such as propellers, turbines, and others. Predictive diagnostics, asset condition monitoring, and finding new revenue streams are the popular functions of digital twin in the end-user industries.

Benefits and Vendors

The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views; and competitive landscape. Digital twin technology is expected to change the way industries work by 2030 with its wide range of capabilities. The report covers an in-depth analysis of Infosys, General Electric, Siemens, AT & T, IBM, and others.

The study offers a comprehensive analysis of the “Global Digital Twin Market”. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

1 INDUSTRY OUTLOOK

1.1 Industry Overview
1.2 Industry Trends
1.3 PEST Analysis

2 REPORT OUTLINE

2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions

3 MARKET SNAPSHOT

3.1 Total Addressable Market
3.2 Segmented Addressable Market

4 MARKET OUTLOOK

4.1 Overview
4.2 Porter 5 (Five) Forces

5 MARKET CHARACTERISTICS

5.1 Evolution
5.2 Ecosystem
5.3 Market Segmentation
5.4 Market Dynamics
  5.4.1 5.4.1 Drivers
    5.4.1.1 Digitalization- a strategy to enhance productivity
    5.4.1.2 Early warning, prediction, and optimization
    5.4.1.3 Virtual marketing promotions
  5.4.2 5.4.2 Restraints
    5.4.2.1 Delay in implementing 3D design technologies
    5.4.2.2 Interoperability and security
  5.4.3 5.4.3 Opportunities
    5.4.3.1 Cognitive digital twin
    5.4.3.2 Expanding the boundaries of product design technologies
5.5 DRO – Impact Analysis
  5.5.1 5.6 Market Trends

6 DEPLOYMENT TYPE: MARKET SIZE AND ANALYSIS

6.1 Overview
6.2 Cloud
6.3 On-premises
6.4 Hybrid

7 DIGITAL TWIN TYPE: MARKET SIZE AND ANALYSIS

7.1 Overview
7.2 Part twin
7.3 Product twin
7.4 Process twin
7.5 System twin

8 APPLICATIONS: MARKET SIZE AND ANALYSIS

8.1 Overview
8.2 Business optimization
8.3 Operations Optimization
8.4 Asset Performance Management
8.5 Edge Computing
8.6 Cyber Security
8.7 Others

9 INDUSTRIES: MARKET SIZE AND ANALYSIS

9.1 Overview
9.2 Manufacturing
9.3 Power
9.4 Oil & Gas
9.5 Aviation
9.6 Smart cities
9.7 BFSI
9.8 Healthcare
9.9 Others

10 REGIONS: MARKET SIZE AND ANALYSIS

10.1 Overview
10.2 Americas
  10.2.1 Overview
  10.2.2 The US
  10.2.3 Canada
  10.2.4 Brazil
  10.2.5 Mexico
  10.2.6 Others
10.3 Europe
  10.3.1 Overview
  10.3.2 The UK
  10.3.3 Germany
  10.3.4 Russia
  10.3.5 Switzerland
  10.3.6 Poland
  10.3.7 Czech Republic
  10.3.8 Sweden
  10.3.9 Others
10.4 Asia Pacific
  10.4.1 Overview
  10.4.2 China
  10.4.3 Japan
  10.4.4 South Korea
  10.4.5 Australia
  10.4.6 Singapore
  10.4.7 India
  10.4.8 Others
10.5 Rest of the World
  10.5.1 Overview
  10.5.2 South Africa
  10.5.3 Iran
  10.5.4 Qatar
  10.5.5 Others

11 VENDORS PROFILE

11.1 IBM Corp.
  11.1.1 Overview
  11.1.2 Business Unit
  11.1.3 Geographic Revenue
  11.1.4 Business Focus
  11.1.5 SWOT Analysis
  11.1.6 Business Strategy
11.2 Siemens Ltd.
  11.2.1 Overview
  11.2.2 Business Units
  11.2.3 Geographic Revenue
  11.2.4 Business Focus
  11.2.5 SWOT Analysis
  11.2.6 Business Strategies
11.3 AT & T Inc.
  11.3.1 Overview
  11.3.2 Business units
  11.3.3 Geographic revenue
  11.3.4 Business focus
  11.3.5 SWOT analysis
  11.3.6 Business strategies
11.4 Infosys Limited
  11.4.1 Overview
  11.4.2 Business Units
  11.4.3 Geographic Revenue
  11.4.4 Business Focus
  11.4.5 SWOT Analysis
  11.4.6 Business Strategy
11.5 General Electric
  11.5.1 Overview
  11.5.2 Business Units
  11.5.3 Geographic Revenue
  11.5.4 Business Focus
  11.5.5 SWOT Analysis
  11.5.6 Business Strategy

12 COMPANIES TO WATCH FOR

12.1 Concirrus
  12.1.1 Overview:
  12.1.2 Product Offering
12.2 DIGITAL TWIN
  12.2.1 Overview
  12.2.2 Product Offering
12.3 TwinThread, LLC
  12.3.1 Overview
  12.3.2 Product Offering
12.4 SimScale GmbH
  12.4.1 Overview
  12.4.2 Product Offering

13 COMPETITIVE LANDSCAPE

13.1 Competitor Comparison Analysis
Annexure
Abbreviations

Tables
Table 1 GLOBAL DIGITAL TWIN MARKET REVENUE BY DEPLOYMENT TYPE, 2017-2023 ($BILLION)
Table 2 GLOBAL DIGITAL TWIN MARKET GROWTH BY DEPLOYMENT TYPE, 2017–2023 (Y-O-Y) %
Table 3 GLOBAL DIGITAL TWIN MARKET REVENUE BY TYPE, 2017-2023 ($BILLION)
Table 4 GLOBAL DIGITAL TWIN MARKET GROWTH BY DEVICE TYPE, 2017-2023 (Y-O-Y) %
Table 5 GLOBAL DIGITAL TWIN MARKET REVENUE BY USE-CASE, 2017-2023 ($BILLION)
Table 6 GLOBAL DIGITAL TWIN MARKET GROWTH BY USE-CASE, 2017-2023 (Y-O-Y) %
Table 7 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($BILLION)
Table 8 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) %
Table 9 GLOBAL DIGITAL TWIN MARKET REVENUE BY REGION, 2017-2023 ($BILLION)
Table 10 GLOBAL DIGITAL TWIN MARKET GROWTH BY REGION, 2017-2023 (Y-O-Y) %
Table 11 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($MILLION)
Table 12 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) %
Table 13 GLOBAL DIGITAL TWIN TYPE IN AMERICAS MARKET REVENUE BY REGION, 2017-2023 ($MILLION)
Table 14 GLOBAL DIGITAL TWIN TYPE IN AMERICAS MARKET GROWTH BY REGION, 2017-2023 (Y-O-Y) %
Table 15 GLOBAL DIGITAL TWIN MARKET REVENUE IN EUROPE, 2017-2023 ($MILLION)
Table 16 GLOBAL DIGITAL TWIN MARKET GROWTH IN EUROPE, 2017-2023 (Y-O-Y) %
Table 17 GLOBAL DIGITAL TWIN TYPE MARKET REVENUE IN EUROPE, 2017-2023 ($MILLION)
Table 18 GLOBAL DIGITAL TWIN TYPE MARKET GROWTH IN EUROPE, 2017-2023 (Y-O-Y) %
Table 19 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($MILLION)
Table 20 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) %
Table 21 GLOBAL DIGITAL TWIN TYPE MARKET REVENUE IN APAC, 2017-2023 ($MILLION)
Table 22 GLOBAL DIGITAL TWIN TYPE MARKET GROWTH IN APAC, 2017-2023 (Y-O-Y) %
Table 23 GLOBAL DIGITAL TWIN MARKET REVENUE BY INDUSTRIES, 2017-2023 ($MILLION)
Table 24 GLOBAL DIGITAL TWIN MARKET GROWTH BY INDUSTRIES, 2017-2023 (Y-O-Y) %
Table 25 GLOBAL DIGITAL TWIN TYPE MARKET REVENUE IN ROW, 2017-2023 ($MILLION)
Table 26 GLOBAL DIGITAL TWIN TYPE MARKET GROWTH IN ROW, 2017-2023 (Y-O-Y) %

Charts
Chart 1 PEST ANALYSIS OF GLOBAL DIGITAL TWIN MARKET
Chart 2 RESEARCH METHODOLOGY OF GLOBAL DIGITAL TWIN MARKET
Chart 3 GLOBAL LIVE STREAM MARKET REVENUE, 2017–2023 ($BILLION)
Chart 4 GLOBAL DIGITAL TWIN MARKET REVENUE, 2017-2023 ($BILLION)
Chart 5 PORTER 5 FORCES LIVE STREAM MARKET IN ASIA
Chart 6 EVOLUTION OF LIVE STREAM MARKET IN ASIA
Chart 7 ECOSYSTEM OF GLOBAL DIGITAL TWIN MARKET
Chart 8 MARKET SEGMENTATATION OF GLOBAL DIGITAL TWIN MARKET
Chart 9 MARKET DYNAMICS – DRIVERS, RESTRAINTS & OPPORTUNITIES
Chart 10 DRO - IMPACT ANALYSIS OF GLOBAL DIGITAL TWIN MARKET
Chart 11 CLOUD MARKET REVENUE, 2017-2023 ($BILLION)
Chart 12 ON-PREMISES MARKET REVENUE, 2017-2023 ($BILLION)
Chart 13 HYBRID MARKET REVENUE, 2017-2023 ($BILLION)
Chart 14 PART TWIN MARKET REVENUE, 2017-2023 ($BILLION)
Chart 15 PRODUCT TWIN REVENUE, 2017-2023 ($BILLION)
Chart 16 PROCESS TWIN REVENUE, 2017-2023 ($BILLION)
Chart 17 SYSTEM TWIN MARKET REVENUE, 2017-2023 ($BILLION)
Chart 18 BUSINESS OPTIMIZATION REVENUE, 2017–2023 ($BILLION)
Chart 19 OPERATIONS OPTIMIZATION MARKET REVENUE, 2017-2023 ($BILLION)
Chart 20 ASSET PERFORMANCE MANAGEMENT REVENUE, 2017-2023 ($BILLION)
Chart 21 EDGE COMPUTING MARKET REVENUE, 2017-2023 ($BILLION)
Chart 22 CYBER SECURITY MARKET REVENUE, 2017-2023 ($BILLION)
Chart 23 OTHERS MARKET REVENUE, 2017-2023 ($BILLION)
Chart 24 MANUFACTURING MARKET REVENUE, 2017-2023 ($BILLION)
Chart 25 POWER MARKET REVENUE, 2017-2023 ($BILLION)
Chart 26 OIL & GAS MARKET REVENUE, 2017-2023 ($BILLION)
Chart 27 AVIATION MARKET REVENUE, 2017-2023 ($BILLION)
Chart 28 SMART CITIES MARKET REVENUE, 2017-2023 ($BILLION)
Chart 29 BFSI MARKET REVENUE, 2017-2023 ($BILLION)
Chart 30 HEALTHCARE MARKET REVENUE, 2017-2023 ($BILLION)
Chart 31 OTHERS MARKET REVENUE, 2017-2023 ($BILLION)
Chart 32 IBM: OVERVIEW SNAPSHOT
Chart 33 IBM: BUSINESS UNITS
Chart 34 IBM: GEOGRAPHIC REVENUE
Chart 35 IBM: SWOT ANALYSIS
Chart 36 SIEMENS COMPANY PROFILE: MARKET OUTLOOK
Chart 37 SIEMENS: BUSINESS UNITS
Chart 38 SIEMENS: GEOGRAPHIC REVENUE
Chart 39 SIEMENS: SWOT ANALYSIS
Chart 40 AT & T: OVERVIEW SNAPSHOT
Chart 41 AT & T: BUSINESS UNITS
Chart 42 AT & T: GEOGRAPHIC REVENUE
Chart 43 AT&T: SWOT ANALYSIS
Chart 44 INFOSYS: OVERVIEW SNAPSHOT
Chart 45 INFOSYS: BUSINESS UNITS
Chart 46 INFOSYS: GEOGRAPHIC REVENUE
Chart 47 INFOSYS: SWOT ANALYSIS
Chart 48 GENERAL ELECTRIC: OVERVIEW SNAPSHOT
Chart 49 GENERAL ELECTRIC: BUSINESS UNITS
Chart 50 GENERAL ELECTRIC: GEOGRAPHIC REVENUE
Chart 51 GENERAL ELECTRIC: SWOT ANALYSIS
Chart 52 GLOBAL DIGITAL TWIN: COMPETITIVE LANDSCAPE


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