Global Digital Twin Technology Market Growth (Status and Outlook) 2025-2031

Publication ID:

LPI01251914

Publication Date:

January 9, 2025

Pages:

129

Publisher:

LPI

Countries:

Global [1]

USD 3,660.00

IT Services [2]

Software [3]

Computing & Electronics [4]

Description:

The global Digital Twin Technology market size is predicted to grow from US$ 2568 million in 2025 to US$ 5078 million in 2031; it is expected to grow at a CAGR of 12.0% from 2025 to 2031.
Digital Twin is a near-real-time digital image about the historical and current behaviour 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鈥攔educed asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
The term digital twin began around 2003 when Dr. Michael Grieves introduced the concept. Since its introduction, digital twin has evolved considerably from its rather engineering design-centric roots. But it began commercializing in 2014 when GE, PTC, Siemens and Dassault Syst猫mes brought it to light in the market.
Digital twin can be classified to system twin, process twin, asset twin in the market, and system twin, process twin is leading the market and growing faster at present.
Digital twin is first used for aerospace & defense, then it can be used for automotive & transportation, machine manufacturing, energy & utilities and other industry. Machine manufacturing took up about 40% of the global total market now. Energy & Utilities sector got a fast developing because of the technology innovation that related to smart grid.
The 鈥淒igital Twin Technology Industry Forecast鈥� looks at past sales and reviews total world Digital Twin Technology sales in 2024, providing a comprehensive analysis by region and market sector of projected Digital Twin Technology sales for 2025 through 2031. With Digital Twin Technology sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Digital Twin Technology industry.
This Insight Report provides a comprehensive analysis of the global Digital Twin Technology landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Digital Twin Technology portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥� unique position in an accelerating global Digital Twin Technology market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Digital Twin Technology and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Digital Twin Technology.
This report presents a comprehensive overview, market shares, and growth opportunities of Digital Twin Technology market by product type, application, key players and key regions and countries.
Segmentation by Type:
System Twin
Process Twin
Asset Twin
Segmentation by Application:
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
General Electric
PTC
Siemens
Dassault Syst猫mes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Accenture (Mackevision)
SAP
AVEVA Group
Bentley Systems
ABB
ETAP
Emerson
Altair
Esri
Autodesk

Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.

Table Of Contents:

1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Digital Twin Technology Market Size (2020-2031)
2.1.2 Digital Twin Technology Market Size CAGR by Region (2020 VS 2024 VS 2031)
2.1.3 World Current & Future Analysis for Digital Twin Technology by Country/Region (2020, 2024 & 2031)
2.2 Digital Twin Technology Segment by Type
2.2.1 System Twin
2.2.2 Process Twin
2.2.3 Asset Twin
2.3 Digital Twin Technology Market Size by Type
2.3.1 Digital Twin Technology Market Size CAGR by Type (2020 VS 2024 VS 2031)
2.3.2 Global Digital Twin Technology Market Size Market Share by Type (2020-2025)
2.4 Digital Twin Technology Segment by Application
2.4.1 Aerospace and Defense
2.4.2 Automotive and Transportation
2.4.3 Machine Manufacturing
2.4.4 Energy and Utilities
2.4.5 Others
2.5 Digital Twin Technology Market Size by Application
2.5.1 Digital Twin Technology Market Size CAGR by Application (2020 VS 2024 VS 2031)
2.5.2 Global Digital Twin Technology Market Size Market Share by Application (2020-2025)
3 Digital Twin Technology Market Size by Player
3.1 Digital Twin Technology Market Size Market Share by Player
3.1.1 Global Digital Twin Technology Revenue by Player (2020-2025)
3.1.2 Global Digital Twin Technology Revenue Market Share by Player (2020-2025)
3.2 Global Digital Twin Technology Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Digital Twin Technology by Region
4.1 Digital Twin Technology Market Size by Region (2020-2025)
4.2 Global Digital Twin Technology Annual Revenue by Country/Region (2020-2025)
4.3 Americas Digital Twin Technology Market Size Growth (2020-2025)
4.4 APAC Digital Twin Technology Market Size Growth (2020-2025)
4.5 Europe Digital Twin Technology Market Size Growth (2020-2025)
4.6 Middle East & Africa Digital Twin Technology Market Size Growth (2020-2025)
5 Americas
5.1 Americas Digital Twin Technology Market Size by Country (2020-2025)
5.2 Americas Digital Twin Technology Market Size by Type (2020-2025)
5.3 Americas Digital Twin Technology Market Size by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Digital Twin Technology Market Size by Region (2020-2025)
6.2 APAC Digital Twin Technology Market Size by Type (2020-2025)
6.3 APAC Digital Twin Technology Market Size by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
7 Europe
7.1 Europe Digital Twin Technology Market Size by Country (2020-2025)
7.2 Europe Digital Twin Technology Market Size by Type (2020-2025)
7.3 Europe Digital Twin Technology Market Size by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Digital Twin Technology by Region (2020-2025)
8.2 Middle East & Africa Digital Twin Technology Market Size by Type (2020-2025)
8.3 Middle East & Africa Digital Twin Technology Market Size by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global Digital Twin Technology Market Forecast
10.1 Global Digital Twin Technology Forecast by Region (2026-2031)
10.1.1 Global Digital Twin Technology Forecast by Region (2026-2031)
10.1.2 Americas Digital Twin Technology Forecast
10.1.3 APAC Digital Twin Technology Forecast
10.1.4 Europe Digital Twin Technology Forecast
10.1.5 Middle East & Africa Digital Twin Technology Forecast
10.2 Americas Digital Twin Technology Forecast by Country (2026-2031)
10.2.1 United States Market Digital Twin Technology Forecast
10.2.2 Canada Market Digital Twin Technology Forecast
10.2.3 Mexico Market Digital Twin Technology Forecast
10.2.4 Brazil Market Digital Twin Technology Forecast
10.3 APAC Digital Twin Technology Forecast by Region (2026-2031)
10.3.1 China Digital Twin Technology Market Forecast
10.3.2 Japan Market Digital Twin Technology Forecast
10.3.3 Korea Market Digital Twin Technology Forecast
10.3.4 Southeast Asia Market Digital Twin Technology Forecast
10.3.5 India Market Digital Twin Technology Forecast
10.3.6 Australia Market Digital Twin Technology Forecast
10.4 Europe Digital Twin Technology Forecast by Country (2026-2031)
10.4.1 Germany Market Digital Twin Technology Forecast
10.4.2 France Market Digital Twin Technology Forecast
10.4.3 UK Market Digital Twin Technology Forecast
10.4.4 Italy Market Digital Twin Technology Forecast
10.4.5 Russia Market Digital Twin Technology Forecast
10.5 Middle East & Africa Digital Twin Technology Forecast by Region (2026-2031)
10.5.1 Egypt Market Digital Twin Technology Forecast
10.5.2 South Africa Market Digital Twin Technology Forecast
10.5.3 Israel Market Digital Twin Technology Forecast
10.5.4 Turkey Market Digital Twin Technology Forecast
10.6 Global Digital Twin Technology Forecast by Type (2026-2031)
10.7 Global Digital Twin Technology Forecast by Application (2026-2031)
10.7.1 GCC Countries Market Digital Twin Technology Forecast
11 Key Players Analysis
11.1 General Electric
11.1.1 General Electric Company Information
11.1.2 General Electric Digital Twin Technology Product Offered
11.1.3 General Electric Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.1.4 General Electric Main Business Overview
11.1.5 General Electric Latest Developments
11.2 PTC
11.2.1 PTC Company Information
11.2.2 PTC Digital Twin Technology Product Offered
11.2.3 PTC Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.2.4 PTC Main Business Overview
11.2.5 PTC Latest Developments
11.3 Siemens
11.3.1 Siemens Company Information
11.3.2 Siemens Digital Twin Technology Product Offered
11.3.3 Siemens Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.3.4 Siemens Main Business Overview
11.3.5 Siemens Latest Developments
11.4 Dassault Syst猫mes
11.4.1 Dassault Syst猫mes Company Information
11.4.2 Dassault Syst猫mes Digital Twin Technology Product Offered
11.4.3 Dassault Syst猫mes Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.4.4 Dassault Syst猫mes Main Business Overview
11.4.5 Dassault Syst猫mes Latest Developments
11.5 IBM Corporation
11.5.1 IBM Corporation Company Information
11.5.2 IBM Corporation Digital Twin Technology Product Offered
11.5.3 IBM Corporation Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.5.4 IBM Corporation Main Business Overview
11.5.5 IBM Corporation Latest Developments
11.6 ANSYS
11.6.1 ANSYS Company Information
11.6.2 ANSYS Digital Twin Technology Product Offered
11.6.3 ANSYS Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.6.4 ANSYS Main Business Overview
11.6.5 ANSYS Latest Developments
11.7 Microsoft Corporation
11.7.1 Microsoft Corporation Company Information
11.7.2 Microsoft Corporation Digital Twin Technology Product Offered
11.7.3 Microsoft Corporation Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.7.4 Microsoft Corporation Main Business Overview
11.7.5 Microsoft Corporation Latest Developments
11.8 Oracle Corporation
11.8.1 Oracle Corporation Company Information
11.8.2 Oracle Corporation Digital Twin Technology Product Offered
11.8.3 Oracle Corporation Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.8.4 Oracle Corporation Main Business Overview
11.8.5 Oracle Corporation Latest Developments
11.9 Accenture (Mackevision)
11.9.1 Accenture (Mackevision) Company Information
11.9.2 Accenture (Mackevision) Digital Twin Technology Product Offered
11.9.3 Accenture (Mackevision) Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.9.4 Accenture (Mackevision) Main Business Overview
11.9.5 Accenture (Mackevision) Latest Developments
11.10 SAP
11.10.1 SAP Company Information
11.10.2 SAP Digital Twin Technology Product Offered
11.10.3 SAP Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.10.4 SAP Main Business Overview
11.10.5 SAP Latest Developments
11.11 AVEVA Group
11.11.1 AVEVA Group Company Information
11.11.2 AVEVA Group Digital Twin Technology Product Offered
11.11.3 AVEVA Group Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.11.4 AVEVA Group Main Business Overview
11.11.5 AVEVA Group Latest Developments
11.12 Bentley Systems
11.12.1 Bentley Systems Company Information
11.12.2 Bentley Systems Digital Twin Technology Product Offered
11.12.3 Bentley Systems Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.12.4 Bentley Systems Main Business Overview
11.12.5 Bentley Systems Latest Developments
11.13 ABB
11.13.1 ABB Company Information
11.13.2 ABB Digital Twin Technology Product Offered
11.13.3 ABB Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.13.4 ABB Main Business Overview
11.13.5 ABB Latest Developments
11.14 ETAP
11.14.1 ETAP Company Information
11.14.2 ETAP Digital Twin Technology Product Offered
11.14.3 ETAP Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.14.4 ETAP Main Business Overview
11.14.5 ETAP Latest Developments
11.15 Emerson
11.15.1 Emerson Company Information
11.15.2 Emerson Digital Twin Technology Product Offered
11.15.3 Emerson Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.15.4 Emerson Main Business Overview
11.15.5 Emerson Latest Developments
11.16 Altair
11.16.1 Altair Company Information
11.16.2 Altair Digital Twin Technology Product Offered
11.16.3 Altair Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.16.4 Altair Main Business Overview
11.16.5 Altair Latest Developments
11.17 Esri
11.17.1 Esri Company Information
11.17.2 Esri Digital Twin Technology Product Offered
11.17.3 Esri Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.17.4 Esri Main Business Overview
11.17.5 Esri Latest Developments
11.18 Autodesk
11.18.1 Autodesk Company Information
11.18.2 Autodesk Digital Twin Technology Product Offered
11.18.3 Autodesk Digital Twin Technology Revenue, Gross Margin and Market Share (2020-2025)
11.18.4 Autodesk Main Business Overview
11.18.5 Autodesk Latest Developments
12 Research Findings and Conclusion

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