Digital Twin Market by Technology,Industry Update,and Leading Players Digital Twin Technology

Digital Twin Market by Technology, Industry Update, Region and
Leading Players 2025
Digital Twin Technology is among the top ten strategic technology trends named
by Gartner Inc. in 2017 where the virtual counterparts of the physical assets are
created as digitalized duplicates of machines/ equipment or physical sites using
sensors.
Digital Twin can be defined as the convergence of the virtual world with the physical world
that is, creating a near real-time digital image of a physical object or process using sensors.
It is a combination of multiple technologies such as machine-to-machine connection (M2M),
machine learning, artificial intelligence (AI), sensor telemetry, and predictive analytics
which helps in optimizing systems and processes, examining products, and monitoring the
performance and condition of machines.
Global Digital Twin Market: Competitive Landscape
Some of the key players in the Digital Twins Market include Tibco Software Inc., Sight
Machine Inc., Siemens Ag, Virtalis Limited, Robert Bosch Gmbh ,Ibm Corporation, Prodea
System Inc., Toshiba Corporation, Microsoft Corporation, Oracle Corporation, General
Electric, Aucotec Ag, PTC Inc., Dassault Systemes, Amazon Web Services, Computer
Science Corporation, Dnv Gl As, Autodesk Inc., Cosmo Company Sas, Ansys Inc., Feinguss
Blank Gmb, Cadfem Gmbh, Allerin Tech Pvt Ltd and Altair Engineering Inc.
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Incorporating concepts like Big Data, Artificial Intelligence (AI), Machine Learning (ML) and
Internet of Things (IoT), digital twins are now explorative of Industry 4.0 or the digital
world, thus these virtual replica give control over the product or process from the design
phase to the deployment phase hence, grow the demand of digital twin technology globally.
It is widely adopted due to its multiple benefits such as reduce product defects, reduction in
production cost, real-time monitoring, shorten time to the market and extend the life of
equipment and assets fuel the market of Digital twin technology over the forecast period.
However, the high initial cost of implementation includes high investment in IoT
infrastructure is the major hampering factor for the growth of the global digital twin market.
In addition to the lack of awareness regarding the cost-benefit of the adoption of digital
twins along with the lack of skilled workforce and technical knowledge, they are also
expected to restrain the global market growth. However, with the further evolution of
Machine Learning and Artificial Intelligence will boost the market in the forthcoming period.
Cloud Deployment Accounts For the Major Share during the Anticipated Period
Global digital twin technology market in terms of deployment classified as On-premises and
cloud-based whereas end-users primarily adopt the digital twin through on-premises
deployment type as this shields the organization’s internal PCs from the online world.
Moreover, the consumers prefer this model as they are extensively focused on providing
optimum security with high cost-effectiveness. However, the intense adoption among
government users will further drive the industry growth in the virtual IoT twin market.
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