Global Digital Twin Market: Analysis and Forecast 2025
Bharat Book Bureau Provides the Trending Market Research Report on "Global Digital Twin Market Research Report Forecast to 2025” (https://www.bharatbook.com/marketreports/global-digital-twin-market-research-report-forecast-to-2025/1571232) under Media & Technology Category. The report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
A digital twin is a digital replica of physical assets (product, system, process, or place) that act as its virtual equivalent throughout its development lifespan. This replica is a dynamic software model that uses data acquisition tools such as sensors to monitor the asset and collect data related to the operating parameters. A digital twin can be a weak correlation of the physical asset or almost exact design time and runtime clone depending upon the underlying technology. Rising adoption of 3D printing and 3D simulation software, increasing awareness about advanced data analytics across industries, and the emergence of digitization in manufacturing are expected to drive the Digital Twin Market during the forecast period. However, the risk of security breaches is expected to restrain the market during the forecast period.
In 2017, North America dominated the global market with the regional share valued at USD 691.2 million; it is expected to register a CAGR of 42.77% during the forecast period. However, the market in Asia-Pacific is expected to be the fastest-growing at the highest CAGR of 45.19% during the review period.
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Last Update : Jun 18, 2019
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