Digital Twins Market
                     Market Scope 
A surge in the adoption of 3D printing and 3D simulation across different business verticals is 
expected to promote the growth of the global Digital Twin Market, states Market Research Future 
(MRFR). MRFR reveals that the global Digital Twin Market is likely to attain a CAGR of 42.54% over 
the forecast period (2018-2025) and touch an impressive valuation by 2025. 
Industry News 
August 2019 
DNV GL to provide ShipManager Hull software to Saipem, a contractor of Italian oil and gas 
industry. The software deploys 3D digital twins for managing the complete lifecycle of the hull 
structure.  
Scania, a leading commercial vehicle producer, is exploring the chances of deploying digital twins 
for incorporating predictive maintenance in their vehicles.  
Market Insights 
Digital twin technology provides virtual assistance to resolve real-world issues is likely to boost its 
market growth. The fast-paced expansion of the global Digital Twin Market growth can be 
attributed to the ability of the technology to effortlessly optimize systems or processes, monitor 
performance and condition of machines and examine their products.  Digital twins technology is 
gaining popularity across different industries as it simplifies designing, production, and 
maintenance processes.  
Segmentation: 
The global Digital Twin Market has been studied on the basis of end user application and type.  
Based on the end-user application, the global Digital Twin Market has been segmented into 
automotive and transportation, aerospace and defense, electronics and electrical or machine 
manufacturing, healthcare, retail, energy and utilities, home and commercial, and others. The 
aerospace and defense segment have been classified into space-based monitoring and aircraft 
engine design and production. The automotive and transportation segment has been narrowed 
down to vehicle designing & simulation and fleet management. The healthcare segment has been 
divided into patient monitoring and medical devices simulation. The energy and utilities segment 
have been classified into wind and gas turbines, and power infrastructure. The electronics and 
electrical or machine manufacturing segment is expected to secure the largest share of the global 
digital twin market over the assessment period. MRFR mentions that the segment is poised to touch 
a valuation of USD 9416.3 Mn by 2025. 
Based on the type, the global digital twin market has been segmented into product twin, parts twin, 
process twin, and system twin. The product twin segment is expected to grasp a significant share of 
the global Digital Twin Market. The system twin segment is likely to register a lucrative CAGR of 
44.46% over the review period.  
Regional Outlook 
Regionally, the global Digital Twin Market has been analyzed across North America, Latin America, 
Asia Pacific, Europe, and Middle East Asia and Africa.  
North America is likely to secure the largest share of the global Digital Twin Market over the 
forecast period. Continuous technical upgradations in North America is expected to intensify the 
regional Digital Twin Market growth. The North American Digital Twin Market is anticipated to 
expand at a CAGR of 45.19% over the review period and surpass a valuation of USD 691.2 Mn by 
2025. 
The Asia Pacific Digital Twin Market is likely to experience a healthy growth pattern in the near 
years. MRFR states that the Asia Pacific Digital Twin Market can attain a CAGR 45.19% across the 
evaluation period. Renowned companies are investing in the APAC Digital Twin Market that is 
encouraging innovation, which is likely to intensify the market growth.  
Key Players 
MRFR profiled renowned companies which are operating in the global digital twin market. They 
are; PTC Inc., Cisco Systems, Inc., General Electric, SAP SE, ANSYS Inc., Siemens AG, Oracle 
Corporation, Microsoft Corporation, Accenture PLC, Dassault Systemes SE, and IBM Corporation.