Report Highlights
The global market for digital twins was valued at $11.5 billion in 2023. The market is expected to grow from $18.2 billion in 2024 to $119.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 45.7% from 2024 to 2029.
Report Includes
- 51 data tables and 61 additional tables
- An analysis of the global digital twin market
- Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecasts for 2025 and 2028, and projected CAGRs through 2029
- Estimate of the current market size and revenue prospects, along with market share analysis by solution type, application, enterprise size, end-use industry and region
- Facts and figures pertaining to the market dynamics, technological advances, regulations and the macroeconomic factors driving future demand and innovation
- Porter’s Five Forces, global supply chain, and use case analyses
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, the ESG practices of leading companies and their ESG scores
- A look at key granted patents and published patents
- Analysis of the vendor landscape, including company shares, strategic alliances, M&A activity and venture fundings outlook
- Company profiles of market leaders, including Autodesk Inc., ANSYS Inc., Schneider Electric, Hexagon AG, and Dassault Systèmes
Report Scope
The report provides an overview of the digital twin global market value and analyzes its trends. Using 2023 as the base year, the report provides estimated market data for the forecast period from 2024 through 2029. Revenue forecasts for this period are segmented by solution type, application, industry, enterprise size, and geographical region. It also highlights major trends and challenges that affect the market, concluding with an analysis of the vendor landscape and including detailed profiles of major players in the global digital twin market.
The report also includes emerging technologies that are expected to shape the digital twin market in the coming years. It also includes ESG analysis of the market with the companies’ ratings based on their performance. The competitive landscape provides detailed analysis of strategic decisions made by the leading companies in the digital twin market.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||
| Base year market size | $11.5 Billion | ||||||||||||||||
| Market size forecast | $119.3 Billion | ||||||||||||||||
| Growth rate | CAGR of 45.7% from 2024 to 2029 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | By Solution Type, Application, Enterprise Size, Industry, and Region | ||||||||||||||||
| Regions covered | Americas, Europe, Asia-Pacific, and the Middle East and Africa (MEA) | ||||||||||||||||
| Countries covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, China, Japan, South Korea, and India | ||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- By Solution Type.
- By Application.
- By Enterprise Size.
- By Industry.
- By Region.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Highlights
The global market for digital twins is estimated to increase from $4.9 billion in 2021 to about $50.2 billion by 2026, at a compound annual growth rate (CAGR) of 59.0% during the forecast period of 2021-2026.
Report Includes
- 32 data tables and 60 additional tables
- An up-to-date overview of the global market for digital twin technologies
- Analyses of the global market trends, with data from 2020-2021, estimates for 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026
- Evaluation and forecast the digital twin market size, forecasted growth trends, and corresponding market share analysis by type of technology, application, end-user industry, and geographic region
- Highlights of the market potential for digital twins and areas of focus to forecast this market into various segments and sub-segments
- In-depth information (facts and figures) concerning market drivers, opportunities, challenges and other demographic and economic factors that will drive future demand for digital twins
- Review of emerging companies and the leading competitors in the prevailing digital twin industry
- Discussion of industry value chain analysis, major stakeholders, and COVID-19 implications on the progress of this market
- Descriptive company profiles of the major global players, including ABB Group, Autodesk, Inc., Bentley Systems, Dassault Systèmes, GE Digital, Rockwell Automation Inc., and Schneider Electric SE
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