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Rapid Adoption of Digital Twins Technology in Smart Cities and Automotive Sectors Spurs Market to 2030
[August 09, 2023]

Rapid Adoption of Digital Twins Technology in Smart Cities and Automotive Sectors Spurs Market to 2030

DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "Digital Twins: Global Strategic Business Report" report has been added to's offering.

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The global market for Digital Twins estimated at US$9.1 Billion in the year 2022, is projected to reach a revised size of US$126.6 Billion by 2030, growing at a CAGR of 39% over the analysis period 2022-2030.

System, one of the segments analyzed in the report, is projected to record a 38.5% CAGR and reach US$62.1 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Product segment is readjusted to a revised 40.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.5 Billion, While China is Forecast to Grow at 52.2% CAGR

The Digital Twins market in the U.S. is estimated at US$3.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$32.5 Billion by the year 2030 trailing a CAGR of 52.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 32.2% and 38.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 33.7% CAGR.

Select Competitors (Total 208 Featured) -

  • ABB Ltd.
  • Accenture plc
  • ANSYS, Inc.
  • AT&T Inc.
  • AVEVA Group plc
  • Bentley Systems, Incorporated
  • Bosch.IO GmbH
  • Cal-Tek Srl
  • Capgemini SE
  • Cityzenith
  • Dassault Systemes SE
  • General Electric (GE Digital)
  • Hexagon AB
  • Honeywell International Inc.
  • IBM Corporation
  • Lanner Group Limited
  • Mevea Ltd.
  • Microsoft Corporation
  • Oracle
  • PTC Inc.
  • Rescale, Inc.
  • Rockwell Automation, Inc.
  • SAP SE
  • Siemens AG
  • TIBCO Software Inc.
  • XenonStack

Key Topics Covered:




  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Intriguing Opportunities Ahead for Digital Twin Technology
  • How Digital Twin Technology Can Help Businesses to Gain a Competitive Edge
  • Digital Twin Technology Trends Big in Built Environment amid COVID-19
  • nfluencer Market Insights
  • Digital Twins - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Digital Twin Technology: A Prelude
  • Interoperabilty: Critical to Widespread Use of the Technology
  • DTs Aid in Smart Innovation and Help Achieve Sustainability
  • Market Outlook
  • Recent Industry Activity



  • Digital Twins Emerge as an Important Technology for Digital Transformation
  • Digital Transformation by Industry: 2020
  • Benefits of Adopting Digital Transformation
  • Global Digital Transformation Growth (In %)
  • Digital Twins: Adding New Dimensions to Product Lifecycle Management
  • Digital Twins: A Key Trend in Industry 4.0
  • Review of Key Application Areas
  • Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
  • COVID-19 Impact on Industry 4.0
  • Outlook
  • Digital Twin Technology Playing an Important Role in Predictive Maintenance
  • With Manufacturing Competitiveness Increasing by the Day, PdM is the Right Step Forward Towards to Higher Value, Smart Manufacturing: Global Manufacturing Competitiveness Index (10-100 Index Score) by Country for the Year 2020
  • The Age of Analytics Made More Important by COVID-19 Provides the Cornerstone for the Disruptive Growth of Predictive Maintenance
  • Industry 4.0 Pushes Up the Effectiveness of Predictive Maintenance
  • Market to Witness Unconventional Growth as Effectiveness of Predictive Analytics in Predicting Failure & Maintenance Event Improves on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2020, 2022, 2024, and 2026
  • Significant Role of Digital Twins in Helping Organizations Embrace Manufacturing Automation
  • The Growing Momentum Towards Manufacturing Automation to Encourage New Pathways to Automating Machine Maintenance: Global Manufacturing Automation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Surge in Adoption of 3D Printing Technology in Manufacturing Industry
  • Artificial Intelligence Remains Integral Component of Digital Twin Technology
  • Emphasis on Reducing Project Costs to Drive Uptake of Digital Twin Technology
  • Focus on Building Crisis Resilient Smart Cities to Drive Demand for Smart City Digital Twin
  • Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
  • Growing Role Digital Twin Technology in Curbing Carbon Emissions
  • Global Greenhouse Emissions by Sector: 2020
  • EXHIBIT : Carbon Footprint Forecasts for Buildings (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 20240, 2045 & 2050
  • Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
  • Digital Twins Present a Powerful Tool to Simulate & Optimize Retail Supply Chain
  • Navigating COVID-19 Disruptions with Digital Twins
  • Increasing Use of Digital Twins in Automotive Industry
  • Vehicle Electrification Steps up with Digital Twin Technology
  • Global Electric Vehicle Sales in 000 Units: 2019-2025
  • Digital Twin Technology to Expedite 5G Implementation
  • Number of 5G Connections Worldwide: 2020-2025
  • Global Mobile Connections by Network Type (in %) for 2019 and 2025
  • Global Number of 5G Capex Spending (2018-2022) (in US$ Billion)
  • Agriculture Industry Accelerates Advanced Technologies Adoption
  • Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2020, 2022, 2024 & 2026
  • Aerospace Industry to Take Off with Transformative Potential of Digital Twins
  • Digital Twins for Modeling of Real-Life Systems
  • Impact of COVID-19 on Aerospace Industry
  • COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
  • Staged Recovery over Long-Term to Benefit Demand
  • Global Aircraft Deliveries by Region: 2021-2040
  • Specter of Far-Reaching Digital Twin-Related Implications for Life Sciences Arena
  • Cognitive Computing Enhances Capabilities of Digital Twin Technology
  • The Current State of Digital Twin Adoption in Civil Infrastructure Sector
  • Significant Role of DT in the Energy and Utility Sector
  • Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
  • Steep Rise Healthcare Spending to Augment Adoption of digital Twins
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Digital Twins Set to Go Mainstream in Real-Estate Sector




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