Tag Archives: Digital Twin

Digital Twin Market to Reap Excessive Revenues by 2025

Market Overview:

Digital twin technology represents virtual replica of physical assets, processes and systems to analyze the product development life cycle, right from the design phase to the deployment phase enabling organizations to have a complete digital foot print of their products. Digital twin provides an overall product visibility, it is an integrated collection of artificial intelligence, software analysis and machine learning. It is used in various industries. For instance, digital twin technology is used in building management, healthcare, smart cities, oil and gas, smart buildings and far more. ****** digital twin market was valued, in 2017 USD XX million and in 2025 is expected to reach at XX million with growing CAGR of XX%.

The ****** Digital Twin Market is expected to grow at a CAGR of 38% during the forecast period of (2018-2022).

According to the new market research report by IndustryARC titled “igital Twins Market: By Type (Design and Development, Performance Monitoring, Predictive Maintenance and Others); By End User (Aerospace & Defense, Automotive & Transportation, Smart Home & Commercial, Manufacturing, Energy & Utilities and Others) & Geography – Forecast(2018 – 2023),” the market will be driven by increased adoption in most of the enterprises as it widely helps in optimizing the physical world which in turn significantly improves the operational efficiency and the business process.

North America Dominates Share in Digital Twins Market

Digital Twins Market: 3 Ways It’s Changing the World

Market Benefits

Digital twin means digital duplication of physical property, process and system which can be used for various purposes. The digital depiction provides both the fundamentals and the dynamics of how an Internet of Things device operates and lives during its life cycle. This technology is the one of the most lucrative markets in the existing century. This technology has the capability to record, organize, and monitor dynamic process, product or a service by creating a theoretical model using simulation software’s and computer-based aids.