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Global Digital Twin Technology Market: Size & Forecast With Impact Analysis Of COVID-19 (2020-2024)

Published on: Dec 2020 | From USD $900 | Published By: DAEDAL RESEARCH | Number Of Pages: 90

Scope of the Report

The report titled “Global Digital Twin Technology Market: Size & Forecast with Impact Analysis of COVID-19 (2020-2024)”, provides an in depth analysis of the global digital twin technology market by value, by end-user, by region, etc. The report provides a detailed regional analysis of the digital twin technology market, including the following regions: North America (the US & Rest of North America), Europe (UK, Germany & Rest of Europe), Asia Pacific, Latin America, and Middle East & Africa. The report also provides a detailed analysis of the COVID-19 impact on the digital twin technology market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global digital twin technology market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global digital twin technology market is considerably fragmented with many major market players operating worldwide. The providers of digital twin technology offer different services to cater to the needs of various sectors. The key players of the digital twin technology market are Dassault Systèmes SE, PTC Inc., Ansys, Inc., and AVEVA Group plc are also profiled with their financial information and respective business strategies.

Country Coverage

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Company Coverage

Dassault Systèmes SE
PTC Inc.
Ansys, Inc.
AVEVA Group plc

Executive Summary

A digital twin refers to the digital replica or a representation of a process, physical object or service. Digital twin technology is mainly used to predict how a product or process will perform by creating simulations.

With the rising popularity of Internet of Things (IoT), digital twin technology has become cost-effective to implement. A digital twin is an integration of Computer-Aided Design (CAD), Computer-Aided Manufacturing (CAM), Product Lifecycle Management (PLM), internet of things (IoT), SCADA (Supervisory Control and Data Acquisition), or VR and AR.

Digital twin technology have a long history with continuously developing new technologies. The digital twin technology market can be segmented on the basis of deployment model, type, technology, and end-user. The global digital twin technology market has increased significantly during the years 2017-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The digital twin technology market is expected to increase due to increasing penetration of internet of things (IoT) technology, rapid urbanization, emergence of high-speed network technology, rising adoption of cloud-based platform, evolution of Artificial Intelligence (AI) and Machine Learning (ML), etc. Yet the market faces some challenges such as security concerns, lack of awareness, etc.

1. Executive Summary

2. Introduction

2.1 Digital Twin Technology: An Overview
2.1.1 Digital Twin: Product, Process and Thread
2.1.2 Benefits of Digital Twin Technology
2.1.3 Digital Twin Potential Uses by Industry

2.2 Digital Twin Technology Segmentation: An Overview
2.2.1 Digital Twin Technology Segmentation
2.2.2 Digital Twin Technology Segmentation by Technology
2.2.3 Digital Twin Technology by End-User

3. Global Market Analysis

3.1 Global Digital Twin Technology Market: An Analysis

3.1.1 Global Digital Twin Technology Market by Value
3.1.2 Global Digital Twin Technology Market by End-User
3.1.3 Global Digital Twin Technology Market by Region

3.2 Global Digital Twin Technology Market: End-User Analysis

3.2.1 Global Manufacturing Digital Twin Technology Market by Value
3.2.2 Global Automotive & Transportation Digital Twin Technology Market by Value
3.2.3 Global Energy & Utilities Digital Twin Technology Market by Value
3.2.4 Global Healthcare Digital Twin Technology Market by Value
3.2.5 Global Retail & Consumer Goods Digital Twin Technology Market by Value
3.2.6 Global Others Digital Twin Technology Market by Value

4. Regional Market Analysis

4.1 North America Digital Twin Technology Market: An Analysis

4.1.1 North America Digital Twin Technology Market by Value
4.1.2 North America Digital Twin Technology Market by Region
4.1.3 The US Digital Twin Technology Market by Value
4.1.4 The US Digital Twin Technology Market by End-User
4.1.5 The US Manufacturing Digital Twin Technology Market by Value
4.1.6 The US Automotive & Transportation Digital Twin Technology Market by Value
4.1.7 The US Energy & Utilities Digital Twin Technology Market by Value
4.1.8 The US Healthcare Digital Twin Technology Market by Value
4.1.9 The US Others Digital Twin Technology Market by Value
4.1.10 Canada Digital Twin Technology Market by Value

4.2 Europe Digital Twin Technology Market: An Analysis

4.2.1 Europe Digital Twin Technology Market by Value
4.2.2 Europe Digital Twin Technology Market by Region
4.2.3 UK Digital Twin Technology Market by Value
4.2.4 Germany Digital Twin Technology Market by Value
4.2.5 Rest of Europe Digital Twin Technology Market by Value

4.3 Asia Pacific Digital Twin Technology Market: An Analysis
4.3.1 Asia Pacific Digital Twin Technology Market by Value

4.4 Latin America Digital Twin Technology Market: An Analysis
4.4.1 Latin America Digital Twin Technology Market by Value

4.5 Middle East & Africa Digital Twin Technology Market: An Analysis
4.5.1 Middle East & Africa Digital Twin Technology Market by Value

5. Impact of COVID-19

5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Digital Twin Technology

6. Market Dynamics

6.1 Growth Driver
6.1.1 Increasing Penetration of Internet of Things (IoT) Technology
6.1.2 Rapid Urbanization
6.1.3 Emergence of High-Speed Network Technology
6.1.4 Rising Adoption of Cloud-based Platform
6.1.5 Evolution of Artificial Intelligence (AI) and Machine Learning (ML)

6.2 Challenges
6.2.1 Security Concerns
6.2.2 Lack of Awareness

6.3 Market Trends
6.3.1 Rise of Digital Twin in Industrial Internet of Things (IIoT) and Industry 4.0
6.3.2 Increasing Demand for Digital Twin in Healthcare and Pharmaceutical Industries
6.3.3 Growing Adoption of Digital Twins for Evolving Port

7. Competitive Landscape

7.1 Global Digital Twin Technology Market Players: A Financial Comparison
7.2 Global Digital Twin Technology Market Players by End-Use
7.3 Global Digital Twin Technology Market Players by Key Products/Description

8. Company Profiles

8.1 Dassault Systèmes SE
8.1.1 Business Overview
8.1.2 Financial Overview
8.1.3 Business Strategy

8.2 PTC Inc.
8.2.1 Business Overview
8.2.2 Financial Overview
8.2.3 Business Strategy

8.3 Ansys, Inc.
8.3.1 Business Overview
8.3.2 Financial Overview
8.3.3 Business Strategy

8.4 AVEVA Group plc
8.4.1 Business Overview
8.4.2 Financial Overview
8.4.3 Business Strategy

List of Figures

Figure 1: Benefits of Digital Twin Technology
Figure 2: Digital Twin Potential Uses by Industry
Figure 4: Digital Twin Technology Segmentation
Figure 5: Digital Twin Technology Segmentation by Technology
Figure 6: Digital Twin Technology Segmentation by End-User
Figure 7: Global Digital Twin Technology Market by Value; 2017-2019 (US$ Billion)
Figure 8: Global Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 9: Global Digital Twin Technology Market by End-User; 2019 (Percentage, %)
Figure 10: Global Digital Twin Technology Market by Region; 2019 (Percentage, %)
Figure 11: Global Manufacturing Digital Twin Technology Market by Value; 2017-2019 (US$ Billion)
Figure 12: Global Manufacturing Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 13: Global Automotive & Transportation Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 14: Global Automotive & Transportation Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 15: Global Energy & Utilities Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 16: Global Energy & Utilities Digital Twin Technology Market by Value; 2020-2024 (US$ Million)
Figure 17: Global Healthcare Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 18: Global Healthcare Digital Twin Technology Market by Value; 2020-2024 (US$ Million)
Figure 19: Global Retail & Consumer Goods Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 20: Global Retail & Consumer Goods Digital Twin Technology Market by Value; 2020-2024 (US$ Million)
Figure 21: Global Others Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 22: Global Others Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 23: North America Digital Twin Technology Market by Value; 2017-2019 (US$ Billion)
Figure 24: North America Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 25: North America Digital Twin Technology Market by Region; 2019 (Percentage, %)
Figure 26: The US Digital Twin Technology Market by Value; 2019-2024 (US$ Billion)
Figure 27: The US Digital Twin Technology Market by End-User; 2019 (Percentage, %)
Figure 28: The US Manufacturing Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 29: The US Automotive & Transportation Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 30: The US Energy & Utilities Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 31: The US Healthcare Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 32: The US Others Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 33: Canada Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 34: Europe Digital Twin Technology Market by Value; 2017-2019 (US$ Billion)
Figure 35: Europe Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 36: Europe Digital Twin Technology Market by Region; 2019 (Percentage, %)
Figure 37: UK Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 38: Germany Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 39: Rest of Europe Digital Twin Technology Market by Value; 2019-2024 (US$ Million)
Figure 40: Asia Pacific Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 41: Asia Pacific Digital Twin Technology Market by Value; 2020-2024 (US$ Billion)
Figure 42: Latin America Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 43: Latin America Digital Twin Technology Market by Value; 2020-2024 (US$ Million)
Figure 44: Middle East & Africa Digital Twin Technology Market by Value; 2017-2019 (US$ Million)
Figure 45: Middle East & Africa Digital Twin Technology Market by Value; 2020-2024 (US$ Million)
Figure 46: Global Internet of Things (IoT) Connections; 2018-2025 (Billion)
Figure 47: Global Urbanization Rates by Region; 2010-2040 (Percentage, %)
Figure 48: Global Forecast Number of 5G Connections by Region; 2021-2025 (Million)
Figure 49: Dassault Systèmes SE Total Revenue; 2015-2019 (US$ Billion)
Figure 50: Dassault Systèmes SE Total Revenue by Segments; 2019 (Percentage, %)
Figure 51: Dassault Systèmes SE Total Revenue by Region; 2019 (Percentage, %)
Figure 52: PTC Inc. Total Revenue; 2015-2019 (US$ Billion)
Figure 53: PTC Inc. Total Revenue by Segments; 2019 (Percentage, %)
Figure 54: PTC Inc. Total Revenue by Region; 2019 (Percentage, %)
Figure 55: Ansys, Inc. Total Revenue; 2015-2019 (US$ Billion)
Figure 56: Ansys, Inc. Total Revenue by Segments; 2019 (Percentage, %)
Figure 57: Ansys, Inc. Total Revenue by Region; 2019 (Percentage, %)
Figure 58: AVEVA Group plc Revenue; 2017-2020 (US$ Million)
Figure 59: AVEVA Group plc Revenue by Segments; 2020 (Percentage, %)
Table 1: Global Digital Twin Technology Market Players: A Financial Comparison; 2019
Table 2: Global Digital Twin Technology Market Players by End-Use
Table 3: Global Digital Twin Technology Market Players by Key Products/Description

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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