SELBYVILLE, Del., June 4, 2019 /PRNewswire/ — The digital twin market is poised to rise from USD 3 billion in 2018 to over USD 20 billion by 2025, according to a 2019 Global Market Insights, Inc. report. The market growth is attributed to increasing adoption of the IoT and IIoT and the rapidly growing digitalization in manufacturing, automotive, and healthcare industries.

The continuously rising adoption of the IoT that is empowered & backed by 3D simulation, deep learning, Artificial Intelligence (AI), and big data analytics will help in the cost-effective implementation of digital twin in aerospace & defense, healthcare, and retail & consumer goods sectors. The digital twin enables real-time and predictive analytics, helping in cost & time savings.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2196

The rising demand for reducing asset downtime, optimizing process time, reducing time-to-market, reducing asset downtime, and improving operational efficiency is proliferating the growth of the digital twin market. The supportive government initiatives related to the construction of smart cities and energy-efficient smart buildings are anticipated to drive the market over the forecast timeline.

The process support & service application in digital twin market are anticipated to exhibit a lucrative growth at a CAGR of over 30% between 2019 and 2025. This application includes inventory management services and supply chain management services. The use of digital twin in these application enables effective inventory optimization by allowing organizations to reduce inventory up to a considerable percentage to free up the working capital from unnecessary inventory buffers. This also facilitates reduced inventory carrying costs and increased customer service performance.

The healthcare sector is anticipated to hold a significant market share in the digital twin market. The digital twin offers real-time monitoring & analytics with machine learning and helps to streamline operations & processes in hospitals, improving customer experience. For instance, a single MRI scanner produces an average of 800,000 log messages, which reflects how a system works technically. The proactive remote monitoring services with the digital twin of MRI scanner will help to track & analyze these log messages for early warning signs of impending technical issues.

Browse key industry insights spread across 200 pages with 157 market data tables & 36 figures & charts from the report, “Digital Twin Market Size By Application (Product Design & Development, Machine & Equipment Health Monitoring, Process Support & Service), By End-Use (Manufacturing, Healthcare, Automotive, Aerospace & Defense, Infrastructure Buildings, Energy & Utility, Retail & Consumer Goods), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, Japan, India, Australia, South Korea, Brazil, Mexico, South Africa, GCC), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025″ in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/digital-twin-market

The manufacturing sector is expected to secure a market share of over 25% in digital twin market by 2025. This impressive growth is attributed to the robust growth of the manufacturing sector after Industry 4.0 and the emergence of automation systems in the manufacturing sector to rapidly increase production capacities.

The Asia Pacific digital twin market is projected to register an excellent growth with a CAGR of around 30% between 2019 and 2025. The growing adoption of the IoT and IIoT due to increasing internet penetration coupled with the proliferation of smartphones is fueling the market. The presence of prominent automotive players in the countries including Japan, South Korea, and India is contributing immensely to the market growth. Additionally, this growth can be attributed to the rapidly evolving e-commerce ecosystem along with heavy investments from venture capitalists to leverage the growing demand for the online market.

Some of the key players operating in the digital twin market are ABB Group, Ansys Inc., Autodesk Inc., Dassault Systèmes, General Electric, IBM Corporation, Microsoft Corporation, Oracle Corporation, Robert Bosch GmbH, SAP SE, Siemens AG, and Wipro Limited.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2196

Browse Related Reports:

Wearable Artificial Intelligence (AI) Market Size By Product (Smartwatch & Fitness Band, Head Mounted Display (HMD), Earwear), By Application (Consumer Electronics, Gaming, Enterprise), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Russia, Australia, China, India, Japan, South Korea, Singapore, Brazil, Mexico, UAE, Saudi Arabia, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025

https://www.gminsights.com/industry-analysis/augmented-reality-ar-market

Mixed Reality Headsets Market Size By Technology (Augmented Reality (AR) Headsets [By Product {Head Mounted Displays, Smart Glasses}, By Application {Entertainment, Healthcare, Aerospace & Defense, Automotive, Retail, Industrial}], Virtual Reality (VR) Headsets [By Product {Tethered, Untethered}, By Application {Entertainment, Healthcare, Aerospace & Defense, Automotive, Retail}], Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Australia, Brazil, Mexico, GCC, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/mixed-reality-headsets-market 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

Related Images

global-digital-twin-market-size-to.png
Global Digital Twin Market Size to exceed $20bn by 2025
The manufacturing sector is expected to secure a digital twin market share of over 25% in digital twin market by 2025.

Related Links

Digital Twin Market Size

Wearable Artificial Intelligence (AI) Market Size

View original content to download multimedia:http://www.prnewswire.com/news-releases/digital-twin-market-to-surpass-20bn-by-2025-global-market-insights-inc-300860852.html

SOURCE Global Market Insights, Inc.