In 2018, the global Digital Twins market size was 1240 million US$ and it is expected to reach 13800 million US$ by the end of 2025, with a CAGR of 35.1% during 2019-2025.
Digital Twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance. Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
China, Japan, India and S. Korea, etc. are now the key developing market of Digital Twin in the future while they are all just at the beginning of digital twin technology. There are few vendors to have digital twin technology, and the Chinese market is still much smaller than the USA. Chinese AVIC have signed an agreement with French Dassault Systèmes to develop the digital twin in Jun. 2017.
Siemens established in 1847 and headquarter in Munich
Specialties in Electrification, Automation, Digitalization, Innovation, Solutions, Technology, Engineering, and Manufacturing
Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role.
Oracle established in 1977 and headquarters in Redwood Shores, CA
Specialties in enterprise, software, applications, database, middleware, fusion, business intelligence, Primavera, PeopleSoft, EPM, BEA, Hyperion, Retek, Utilities, On-Demand, server & storage systems, BPM, solutions for communications industry, ERP, CRM, CRM On Demand, JDE, and Siebel
Oracle is cloud technology company that provides organizations around the world with computing infrastructure and software to help them innovate, unlock efficiencies and become more effective and also created the world’s first – and only – autonomous database to help organize and secure our customers’ data.
Microsoft established in 1975 and headquarter in Redmond, Washington
Specialties in Business Software, Developer Tools, Home & Educational Software, Tablets, Search, Advertising, Servers, Windows Operating System, Windows Applications & Platforms, Smartphones, Cloud Computing, Quantum Computing, Future of Work, Productivity, AI, Artificial Intelligence, Machine Learning, Laptops, Mixed Reality, Virtual Reality, Gaming, Developers, and IT Professional
Microsoft do business in 170 countries and made up of 144,000 passionate employees.
General Electric Company is an American multinational conglomerate incorporated in New York City company operates through the following segments: aviation, healthcare, power, renewable energy, digital industry, additive manufacturing and venture capital and finance.
Dassault Systèmes established in 1981 and headquarter in Vélizy-Villacoublay.
Company operates through the following segments PLM, Design, 3D Design, 3D Digital Mock Up (DMU), Product Lifecycle Management (PLM), Simulation, CAD, Aerospace & Defense, Architecture, Engineering & Construction, Consumer Goods & Retail, Consumer Packaged Goods & Retail, Energy Process & Utilities, Financial and Business Services, High – Tech, Industrial Equipment, Life Sciences, Marine & Offshore, Natural Resources, and Transportation & Mobility
The study objectives of this report are:
To analyze global Digital Twins status, future forecast, growth opportunity, key market and key players.
To present the Digital Twins development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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26 Feb 2021