Digital Twin Market: Worldwide Impressive Growth Rate and Threshold 2025

Market Highlights

A strong demand from the electronic and electrical/machine manufacturing sector will continue to usher growth for the global digital twin market during the forecast period (2018-2025). The market is expected to surge at a compound annual growth rate of 42.54% till 2025. Digital twin technology facilitates an integrated multi-physics, multi-system simulation to a complex product, which functions to mirror the life of its corresponding twin. Leveraging the full might of cutting-edge digital technologies, digital twins virtually mimic plant and factory products and processes which support the end-users in achieving continuous improvement and innovation.

Digital twin technology leverages big data analytics for uniting the physical and digital platforms. The rapid developments in the sensor technology and IoT are prognosticated to catapult the digital twin market on an upward trajectory. In addition, the rising need for automation and digitization in the manufacturing industry further ensures revenue acceleration for the market participants. As a result, the twin technology market has been growing rapidly.  Huge demand from the electronic and electrical/machine manufacturing sector is expected to continue to usher growth for the market further. Moreover, the popularity of digital twin led by the rapid adoption of 3D printing and 3D simulation is escalating market on the global platform.

Segmentation:

The analysis offers a detailed segmental analysis of the global digital twin market based on end-user application and type. By end-user application, the market has been segmented into automotive & transportation, aerospace & defense, electronics & electrical / machine manufacturing, retail, healthcare, energy & utilities, home & commercial, and others. The aerospace & defense segment has been sub-segmented into space-based monitoring and aircraft engine design and production. The automotive & transportation segment has been sub-segmented into fleet management and vehicle designing & simulation. The healthcare segment has been further sub-segmented into patient monitoring and medical devices simulation. Lastly, the energy & utilities segment is sub-segmented into wind & gas turbines, and power infrastructure. Among these, the electronics & electrical / machine manufacturing segment is poised to hold the maximum share of the global digital twin market through the forecast period. Its valuation has been estimated to touch USD 9416.3 Mn towards the end of 2025.

By type, the digital twin market has been segmented into product twin, process twin, parts twin, and system twin. The product twin is prognosticated to hold the most significant share of the market. Meanwhile, the system twin segment is forecasted to strike the highest CAGR of 44.46% over 2025.

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