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Digital Twin Market to 2023 - Market to Grow at a CAGR of 37.38% - Research and MarketsThe "Digital Twin Market by End User (Aerospace & Defense, Automotive & Transportation, Home & Commercial, Electronics & Electricals/Machine Manufacturing, Energy & Utilities, Healthcare, Retail & Consumer Goods), and Geography - Forecast to 2023" report has been added to Research and Markets' offering. The digital twin market is likely to grow at a CAGR of 37.87% during the forecast period. The growth of the market is driven by various factors such as growing adoption of Internet of things (IoT) by various end user industries and reduction in manufacturing process time and cost. However, the risks associated with data security due to the use of IoT and cloud platforms is one of the factors restraining the market growth. The digital twin market for other industries comprising materials and chemicals, and agriculture is expected to grow at the highest CAGR between 2017 and 2023. The growing adoption of new technologies for digitalization in product development, which substantially enhances the operational efficiency, boosts the growth of digital twin market for other industries and is likely to contribute to the fastest growth of the market for this segment. APAC held the largest share of the overall digital twin market in 206, and the market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The growth of digital twin market in APAC is driven by the growing adoption of IoT for industrial applications in developing countries such as China, India, and Japan. Also, the increasing number of industries in this region leads to the growing demand for digital twins for improving the efficiency of product manufacturing. The key players operating in digital twin market include General Electric (US), IBM (News - Alert) Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), and PTC, Inc. (US), ANSYS, Inc. (US), Dassault Systmes (France), and Siemens AG (Germany). Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Trends 7 Applications of Digital Twins 8 Digital Twin Market, By End User 9 Geographic Analysis 10 Competitive Landscape 11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/v9xl4t/digital_twin About Research and Markets Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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