There were 606 press releases posted in the last 24 hours and 150,649 in the last 365 days.

The global digital twin market is expected to grow at a CAGR of 38% during the forecast period of (2018-2022)

Digital twin can help manufacturers in assessing how changing contexts, such as environmental factors can affect the physical product.

HYDERABAD, TELANGANA, INDIA, September 4, 2018 /EINPresswire.com/ -- Digital Twin Market- Virtual Imaging for Future Applications

A digital twin is a virtual representation of a product in the physical world. Digital twin is been categorized into different types such as- product twin, process twin and system. The process and system twin are high in demand in the end-user industries. Digital twin can help manufacturers in assessing how changing contexts, such as environmental factors can affect the physical product.

Digital twin is a combination of intelligence and data. The development of Internet of Things (IoT) and the growth of the industrial sectors are the major driving forces for the emergence of the digital twin market. Based on its application, the digital twin technology is been widely used by the oil and gas, aerospace, manufacturing and automotive industry.

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As mentioned earlier, IoT is one of the driving forces for the growth of the digital twin technologies. But the major drawback is that IoT is not fully secured and it is sensitive to hacking. Hackers can steal potential or confidential information. Developing a digital twin requires considerable investment. As a result, smaller companies may not be able to invest on it. For example, to set up a digital twin concept, it requires use of 3D models. But most of the small manufacturing industries still use 2D drawings. These are the major challenges that hinder the growth of the digital twin market.

Swim.ai is US based software company. The company has raised a funding of $ 10 million in a Series B funding. The funding was supported by Cambridge Innovation Capital and it also included other prominent investors like Silver Creek Ventures and Harris Barton Asset Management. The company will use this fund in launching a new R & D center in Cambridge.

Shell Oil and Gas Company has signed up for a two year digital twin initiative. The company will be joining hands with the Swiss engineering company Akselos and LIC engineering, a Danish consultancy firm. It is said to be a Joint Industry Project (JIP) where they will be focusing on structure integrity management (SIM) of offshore assets by using digital technologies with sensor data and big data analytics.

Port of Rotterdam, the largest port in Europe has patterned with IBM for a multi-year digitization initiative, to make Rotterdam the smartest port in the world. IBM along with its IoT technologies will effectively create a digital twin of the port. This digital representation will mirror the port’s operations and conditions. The analysis will be used to track operations in real time scenario.

SAP, a leading software company has come up with SAP S/4HANA cloud. This solution, built on SAP cloud platform uses the latest digital twin technology. SAP’s digital twin technology will be synchronizing virtual and physical conditions of assets in real time to accelerate innovation, predict service requirement and to improve decision making.

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Digital twin is going to be the next big trend in the market. Digital twin is going to be widely used by the manufacturing, oil and gas and healthcare industry. Moreover digital twin will play a key role in Industry 4.0 vision, thus predicting a decent growth rate of the twin market.

Digital Twins market report is segmented as indicated below:
1. Digital Twin Market – By type
1.1. Product twin
1.2. Process twin
1.3. System twin

2. Digital Twin Market –By deployment
2.1. On - Cloud
2.2. On-Premises
2.3. Hybrid

3. Digital Twin Market –By components
3.1. Sensors
3.2. Integration
3.3. Analytics
3.4. Actuators
3.5. Others

4. Digital Twin Market- By End User
4.1. Manufacturing
4.2. Automobile
4.3. Retail
4.4. Healthcare
4.5. Smart cities
4.6. Industrial IoT
4.7. Aerospace
4.8. Military & Defense
4.9. Others

5. Digital Twin Market – By Market Entropy
6. Digital Twin Market – By Geography


Companies Cited/Interviewed/Referenced
General Electric
Microsoft
IBM
Oracle
Ansys
Siemens
PTC
Dassault Systemes
AG
Bosch
Maserati
Tesla
Intermarche
Company 15+

Related Reports:

A. Industry 4.0 Market
https://industryarc.com/Report/18544/industry-4-market.html

B. Industry 4.0 Equipment Market
https://industryarc.com/Report/17938/industry-4-equipments-market.html

What can you expect from the report?
The Digital Twin Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

Frequently Asked Questions:

Q. Does IndustryARC publish country, or application based reports in Digital Twin Market?
Response: Yes, we do have separate reports and database as mentioned below:

1. North America Digital Twin Market (2018-2023)
2. South America Digital Twin Market (2018-2023)
3. Europe Digital Twin Market (2018-2023)
4. Asia Pacific Digital Twin Market (2018-2023)
5. Middle East and Africa Digital Twin Market (2018-2023)
6. Process twin Digital Twin Market (2018-2023)
7. On-Premises Digital Twin Market (2018-2023)
8. Actuators Market in Digital Twin Market (2018-2023)
9. Manufacturing market in Digital Twin Market (2018-2023)
10. Retail Digital Twin Market (2018-2023)

Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization

1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography or product chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.

Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

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https://industryarc.com/subscription.php

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Mr. Venkat Reddy
Sales Manager
Email: venkat@industryarc.com
Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC:

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