1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 DEFINITION 22
1.2.1 INCLUSIONS AND EXCLUSIONS 23
1.3 STUDY SCOPE 24
1.3.1 MARKETS COVERED 24
FIGURE 1 DIGITAL TWIN MARKET: SEGMENTATION 24
1.3.2 YEARS CONSIDERED 24
1.3.3 GEOGRAPHIC SCOPE 25
1.4 CURRENCY 25
1.5 MARKET STAKEHOLDERS 25
1.6 SUMMARY OF CHANGES 26

2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
FIGURE 2 DIGITAL TWIN MARKET: RESEARCH DESIGN 27
2.1.1 SECONDARY AND PRIMARY RESEARCH 29
2.1.1.1 Key industry insights 30
2.1.2 SECONDARY DATA 30
2.1.2.1 Key data from secondary sources 30
2.1.3 PRIMARY DATA 31
2.1.3.1 Breakdown of primaries 31
2.1.3.2 Key data from primary sources 31
2.2 MARKET SIZE ESTIMATION 32
FIGURE 3 DEMAND-SIDE ANALYSIS: DIGITAL TWIN MARKET 32
2.2.1 BOTTOM-UP APPROACH 33
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 33
2.2.2 TOP-DOWN APPROACH 33
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 33
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 34
FIGURE 6 DATA TRIANGULATION 34
2.4 RESEARCH ASSUMPTIONS 35
TABLE 1 ASSUMPTIONS FOR THE RESEARCH STUDY 35

3 EXECUTIVE SUMMARY 36
3.1 DIGITAL TWIN MARKET: REALISTIC SCENARIO 36
FIGURE 7 DIGITAL TWIN MARKET: OPTIMISTIC, REALISTIC, PESSIMISTIC,
AND PRE-COVID-19 SCENARIO ANALYSIS (2016–2026) 36
3.2 DIGITAL TWIN MARKET: OPTIMISTIC SCENARIO 37
3.3 DIGITAL TWIN MARKET: PESSIMISTIC SCENARIO 37
FIGURE 8 DIGITAL TWIN MARKET SIZE (2016–2026) 38
FIGURE 9 SYSTEM DIGITAL TWIN SEGMENT TO HOLD LARGEST SHARE OF
DIGITAL TWIN MARKET BY 2026 38
FIGURE 10 DIGITAL TWIN MARKET, BY INDUSTRY (2020 VS. 2026): AUTOMOTIVE & TRANSPORTATION INDUSTRY TO HOLD LARGEST MARKET SHARE BETWEEN 2020 AND 2026 39
FIGURE 11 DIGITAL TWIN MARKET, BY APPLICATION (2020 VS. 2026): PREDICTIVE MAINTENANCE SEGMENT TO HOLD LARGEST MARKET SHARE
BETWEEN 2020 AND 2026 40
FIGURE 12 NORTH AMERICA HELD LARGEST SHARE OF DIGITAL TWIN MARKET IN 2019 41

4 PREMIUM INSIGHTS 42
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN DIGITAL TWIN MARKET 42
FIGURE 13 INCREASING NEED FOR PREDICTIVE MAINTENANCE AND BUSINESS OPTIMIZATION ARE DRIVING MARKET GROWTH 42
4.2 DIGITAL TWIN MARKET, BY TYPE 42
FIGURE 14 SYSTEM DIGITAL TWIN MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 42
4.3 DIGITAL TWIN MARKET, BY COUNTRY AND INDUSTRY 43
FIGURE 15 AUTOMOTIVE & TRANSPORTATION SEGMENT AND US TO HOLD LARGEST SHARES OF DIGITAL TWIN MARKET BY 2026 43
4.4 DIGITAL TWIN MARKET, BY COUNTRY (2020) 43
FIGURE 16 US TO HOLD LARGEST SHARE OF DIGITAL TWIN MARKET IN 2020 43

5 MARKET OVERVIEW 44
5.1 INTRODUCTION 44
5.2 MARKET DYNAMICS 44
FIGURE 17 DIGITAL TWIN MARKET: COVID-19-RELATED MARKET DYNAMICS 44
5.2.1 DRIVERS 45
FIGURE 18 DIGITAL TWIN MARKET DRIVERS AND THEIR IMPACT 45
5.2.1.1 Increasing demand for digital twins in healthcare and pharmaceutical industries due to outbreak of COVID-19 pandemic 45
5.2.1.2 Changing face of maintenance in various industries 45
5.2.1.3 Adoption of digital twin technology to cope with COVID-19 crisis 46
5.2.2 RESTRAINTS 46
FIGURE 19 DIGITAL TWIN MARKET RESTRAINTS AND THEIR IMPACT 46
5.2.2.1 Data security due to use of IoT and cloud platforms 47
5.2.3 OPPORTUNITIES 47
FIGURE 20 DIGITAL TWIN MARKET OPPORTUNITIES AND THEIR IMPACT 47
5.2.3.1 Implementation of digital twins in the manufacturing industry to handle several issues due to the spread of COVID-19 48
5.2.3.2 Increasing adoption of Industry 4.0/Smart manufacturing and IIoT 48
5.2.4 CHALLENGES 49
FIGURE 21 DIGITAL TWIN MARKET CHALLENGES AND THEIR IMPACT 49
5.2.4.1 Lack of awareness regarding cost benefit of the adoption
of digital twins 49
5.2.4.2 Lack of skilled workforce 49
5.3 VALUE CHAIN ANALYSIS 50
FIGURE 22 VALUE CHAIN ANALYSIS: MAJOR VALUE IS ADDED DURING SOLUTION/SERVICE/SOFTWARE PROVIDING PHASE 50
5.4 ASP ANALYSIS 51
5.5 DEPLOYMENT ANALYSIS 51
5.5.1 ON-PREMISES 51
5.5.2 CLOUD 51
5.6 CASE STUDIES 52
5.6.1 AEROSPACE & DEFENSE 52
5.6.1.1 NASA has implemented digital twins for its space station
and spacecraft 52
5.6.1.2 Lockheed Martin’s Digiverse—A complete digital twin of “Everything” 52
5.6.1.3 Rolls-Royce—Intelligent Engine program 52
5.6.2 AUTOMOTIVE & TRANSPORTATION 52
5.6.2.1 MAN Truck uses PTC’s ThingWorx platform for building digital twins 52
5.6.2.2 Allego uses Microsoft’s Azure digital twin platform for e-charging solutions 53
5.6.3 HOME & COMMERCIAL 53
5.6.3.1 Dassault Systems along with the Government of Singapore is building a digital twin of the complete country—Virtual Singapore 53
5.6.3.2 CBRE uses Microsoft’s Azure digital twin platform for
CBRE 360 employee 53
5.6.4 HEALTHCARE 53
5.6.4.1 John Hopkins Hospital uses GE’s digital twin platform for building a digital twin of patient pathways 53
5.6.4.2 Siemens Healthineers developed a digital twin of the heart 53
5.6.5 ENERGY & UTILITIES 54
5.6.5.1 GE built a digital twin of the wind turbine 54
5.6.5.2 GE’s digital twin of a complete power plant 54
5.6.6 OIL & GAS 54
5.6.6.1 ANSYS, PTC, Flowserve, National Instruments, and HPE built and demonstrated digital twin of a pump 54
5.6.6.2 Shell together with Swiss Engineering modeling and simulation technology company built digital twin of a test rig—digital rig 54
5.6.7 AGRICULTURAL 55
5.6.7.1 Digital twin used in livestock farming 55
5.6.8 OTHERS 55
5.6.8.1 Siemens PLM software and Bridg together built a digital twin for the semiconductor manufacturing process 55
5.6.8.2 ABB built a digital twin of an electromagnetic flowmeter to be used in water & wastewater transport & treatment 55

6 DIGITAL TWIN MARKET, BY TECHNOLOGY 56
6.1 INTRODUCTION 56
FIGURE 23 DIGITAL TWIN MARKET, BY TECHNOLOGY 56
6.2 IOT & IIOT 57
6.3 BLOCKCHAIN 57
6.4 ARTIFICIAL INTELLIGENCE & MACHINE LEARNING 58
6.5 AUGMENTED REALITY, VIRTUAL REALITY, & MIXED REALITY 58
6.6 BIG DATA ANALYTICS 59
6.7 5G 59

7 DIGITAL TWIN MARKET, BY USAGE TYPE 61
7.1 INTRODUCTION 62
FIGURE 24 DIGITAL TWIN MARKET, BY USAGE TYPE 62
FIGURE 25 DIGITAL TWIN MARKET, BY USAGE TYPE (2016–2026) 62
TABLE 2 DIGITAL TWIN MARKET, BY USAGE TYPE, 2016–2019 (USD BILLION) 62
TABLE 3 DIGITAL TWIN MARKET, BY USAGE TYPE, 2020–2026 (USD BILLION) 63
7.2 PRODUCT DIGITAL TWIN 63
7.2.1 PRODUCT DIGITAL TWIN SEGMENT TO WITNESS SIGNIFICANT GROWTH DURING FORECAST PERIOD 63
TABLE 4 DIGITAL TWIN MARKET FOR PRODUCT USAGE TYPE, BY INDUSTRY,
2016–2019 (USD MILLION) 64
TABLE 5 DIGITAL TWIN MARKET FOR PRODUCT USAGE TYPE, BY INDUSTRY,
2020–2026 (USD MILLION) 64
7.3 PROCESS DIGITAL TWIN 65
7.3.1 PROCESS DIGITAL TWIN PLAYS A MAJOR ROLE IN DIGITAL TWIN MARKET 65
TABLE 6 DIGITAL TWIN MARKET FOR PROCESS USAGE TYPE, BY INDUSTRY,
2016–2019 (USD MILLION) 65
TABLE 7 DIGITAL TWIN MARKET FOR PROCESS USAGE TYPE, BY INDUSTRY,
2020–2026 (USD MILLION) 66
7.4 SYSTEM DIGITAL TWIN 66
7.4.1 SYSTEM DIGITAL TWIN SEGMENT TO DOMINATE DIGITAL TWIN MARKET DURING FORECAST PERIOD 66
TABLE 8 DIGITAL TWIN MARKET FOR SYSTEM USAGE TYPE, BY INDUSTRY, 2016–2019 (USD MILLION) 67
TABLE 9 DIGITAL TWIN MARKET FOR SYSTEM USAGE TYPE, BY INDUSTRY, 2020–2026 (USD MILLION) 67

8 DIGITAL TWIN MARKET, BY APPLICATION 68
8.1 INTRODUCTION 69
FIGURE 26 DIGITAL TWIN MARKET, BY APPLICATION 69
FIGURE 27 DIGITAL TWIN MARKET, BY APPLICATION (2016–2026) 69
TABLE 10 DIGITAL TWIN MARKET, BY APPLICATION, 2016–2019 (USD BILLION) 70
TABLE 11 DIGITAL TWIN MARKET, BY APPLICATION, 2020–2026 (USD BILLION) 70
8.2 PRODUCT DESIGN & DEVELOPMENT 70
8.2.1 PRODUCT DESIGN & DEVELOPMENT SEGMENT TO REGISTER STEADY GROWTH IN DIGITAL TWIN MARKET 70
TABLE 12 DIGITAL TWIN MARKET FOR PRODUCT DESIGN & DEVELOPMENT,
BY INDUSTRY, 2016–2019 (USD MILLION) 71
TABLE 13 DIGITAL TWIN MARKET FOR PRODUCT DESIGN & DEVELOPMENT,
BY INDUSTRY, 2020–2026 (USD MILLION) 71
8.3 PERFORMANCE MONITORING 72
8.3.1 PERFORMANCE MANAGEMENT PLAYS A VITAL ROLE IN
THE DIGITAL TWIN MARKET 72
TABLE 14 DIGITAL TWIN MARKET, FOR PERFORMANCE MONITORING, BY INDUSTRY, 2016–2019 (USD MILLION) 72
TABLE 15 DIGITAL TWIN MARKET FOR PERFORMANCE MONITORING, BY INDUSTRY, 2020–2026 (USD MILLION) 73
8.4 PREDICTIVE MAINTENANCE 73
8.4.1 PREDICTIVE MAINTENANCE SEGMENT TO WITNESS HEALTHY GROWTH
IN THE MARKET 73
TABLE 16 DIGITAL TWIN MARKET FOR PREDICTIVE MAINTENANCE, BY INDUSTRY, 2016–2019 (USD MILLION) 74
TABLE 17 DIGITAL TWIN MARKET FOR PREDICTIVE MAINTENANCE, BY INDUSTRY, 2020–2026 (USD MILLION) 74
8.5 INVENTORY MANAGEMENT 75
8.5.1 INVENTORY MANAGEMENT WILL PLAY A MAJOR ROLE IN TRANSPORTATION & LOGISTICS INDUSTRY FOR DIGITAL TWIN SOLUTIONS 75
TABLE 18 DIGITAL TWIN MARKET FOR INVENTORY MANAGEMENT, BY INDUSTRY,
2016–2019 (USD MILLION) 75
TABLE 19 DIGITAL TWIN MARKET FOR INVENTORY MANAGEMENT, BY INDUSTRY,
2020–2026 (USD MILLION) 76
8.6 BUSINESS OPTIMIZATION 76
8.6.1 BUSINESS OPTIMIZATION SEGMENT TO DOMINATE DIGITAL TWIN MARKET DURING FORECAST PERIOD 76
TABLE 20 DIGITAL TWIN MARKET FOR BUSINESS OPTIMIZATION, BY INDUSTRY,
2016–2019 (USD MILLION) 77
TABLE 21 DIGITAL TWIN MARKET FOR BUSINESS OPTIMIZATION, BY INDUSTRY,
2020–2026 (USD MILLION) 77
8.7 OTHERS 78
TABLE 22 DIGITAL TWIN MARKET FOR OTHERS, BY INDUSTRY 2016–2019
(USD MILLION) 78
TABLE 23 DIGITAL TWIN MARKET FOR OTHERS, BY INDUSTRY 2020–2026
(USD MILLION) 78

9 DIGITAL TWIN MARKET, BY INDUSTRY 79
9.1 INTRODUCTION 80
FIGURE 28 DIGITAL TWIN MARKET, BY INDUSTRY 80
TABLE 24 DIGITAL TWIN MARKET, BY INDUSTRY, 2016–2019 (USD BILLION) 80
TABLE 25 DIGITAL TWIN MARKET, BY INDUSTRY, 2020–2026 (USD BILLION) 81
FIGURE 29 AUTOMOTIVE & TRANSPORTATION TO DOMINATE DIGITAL TWIN MARKET DURING FORECAST PERIOD 81
9.2 AEROSPACE & DEFENCE 82
9.2.1 AEROSPACE & DEFENSE SEGMENT TO WITNESS SIGNIFICANT GROWTH IN DIGITAL TWIN MARKET 82
TABLE 26 DIGITAL TWIN MARKET FOR AEROSPACE & DEFENCE, BY TYPE, 2016–2026 (USD MILLION) 82
TABLE 27 DIGITAL TWIN MARKET FOR AEROSPACE & DEFENCE, BY TYPE, 2020–2026 (USD MILLION) 83
TABLE 28 DIGITAL TWIN MARKET FOR AEROSPACE & DEFENCE, BY APPLICATION, 2016–2026 (USD MILLION) 83
TABLE 29 DIGITAL TWIN MARKET FOR AEROSPACE & DEFENCE, BY APPLICATION, 2020–2026 (USD MILLION) 83
TABLE 30 DIGITAL TWIN MARKET FOR AEROSPACE & DEFENCE, BY REGION,
2016–2019 (USD MILLION) 84
TABLE 31 DIGITAL TWIN MARKET FOR AEROSPACE & DEFENCE, BY REGION,
2020–2026 (USD MILLION) 84
9.3 AUTOMOTIVE & TRANSPORTATION 84
9.3.1 AUTOMOTIVE & TRANSPORTATION TO DOMINATE DIGITAL TWIN MARKET DURING FORECAST PERIOD 84
TABLE 32 DIGITAL TWIN MARKET FOR AUTOMOTIVE & TRANSPORTATION, BY TYPE, 2016–2026 (USD MILLION) 85
TABLE 33 DIGITAL TWIN MARKET FOR AUTOMOTIVE & TRANSPORTATION, BY TYPE, 2020–2026 (USD MILLION) 85
TABLE 34 DIGITAL TWIN MARKET FOR AUTOMOTIVE & TRANSPORTATION,
BY APPLICATION, 2016–2026 (USD MILLION) 86
TABLE 35 DIGITAL TWIN MARKET FOR AUTOMOTIVE & TRANSPORTATION,
BY APPLICATION, 2020–2026 (USD MILLION) 86
TABLE 36 DIGITAL TWIN MARKET FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2016–2019 (USD MILLION) 86
TABLE 37 DIGITAL TWIN MARKET FOR AUTOMOTIVE & TRANSPORTATION, BY REGION, 2020–2026 (USD MILLION) 87
9.4 HOME & COMMERCIAL 87
9.4.1 HOME AND COMMERCIAL SEGMENT TO WITNESS STABLE GROWTH IN
POST-COVID-19 PERIOD 87
TABLE 38 DIGITAL TWIN MARKET FOR HOME & COMMERCIAL, BY TYPE, 2016–2026 (USD MILLION) 88
TABLE 39 DIGITAL TWIN MARKET FOR HOME & COMMERCIAL, BY TYPE, 2020–2026 (USD MILLION) 88
TABLE 40 DIGITAL TWIN MARKET FOR HOME & COMMERCIAL, BY APPLICATION,
2016–2026 (USD MILLION) 88
TABLE 41 DIGITAL TWIN MARKET FOR HOME & COMMERCIAL, BY APPLICATION,
2020–2026 (USD MILLION) 89
TABLE 42 DIGITAL TWIN MARKET FOR HOME & COMMERCIAL, BY REGION, 2016–2019 (USD MILLION) 89
TABLE 43 DIGITAL TWIN MARKET FOR HOME & COMMERCIAL, BY REGION, 2020–2026 (USD MILLION) 89
9.5 HEALTHCARE 90
9.5.1 HEALTHCARE IS LEAST AFFECTED SEGMENT DURING COVID-19 CRISIS 90
TABLE 44 DIGITAL TWIN MARKET FOR HEALTHCARE, BY TYPE, 2016–2026
(USD MILLION) 91
TABLE 45 DIGITAL TWIN MARKET FOR HEALTHCARE, BY TYPE, 2020–2026
(USD MILLION) 91
TABLE 46 DIGITAL TWIN MARKET FOR HEALTHCARE, BY APPLICATION, 2016–2026 (USD MILLION) 91
TABLE 47 DIGITAL TWIN MARKET FOR HEALTHCARE, BY APPLICATION, 2020–2026 (USD MILLION) 92
TABLE 48 DIGITAL TWIN MARKET FOR HEALTHCARE, BY REGION, 2016–2019
(USD MILLION) 92
TABLE 49 DIGITAL TWIN MARKET FOR HEALTHCARE, BY REGION, 2020–2026
(USD MILLION) 92
9.6 ENERGY & UTILITIES 93
9.6.1 INCREASING DIGITIZATION IN THE ENERGY & UTILITIES SEGMENT 93
TABLE 50 DIGITAL TWIN MARKET FOR ENERGY & UTILITIES, BY TYPE, 2016–2026
(USD MILLION) 93
TABLE 51 DIGITAL TWIN MARKET FOR ENERGY & UTILITIES, BY TYPE, 2020–2026
(USD MILLION) 94
TABLE 52 DIGITAL TWIN MARKET FOR ENERGY & UTILITIES, BY APPLICATION,
2016–2026 (USD MILLION) 94
TABLE 53 DIGITAL TWIN MARKET FOR ENERGY & UTILITIES, BY APPLICATION,
2020–2026 (USD MILLION) 94
TABLE 54 DIGITAL TWIN MARKET FOR ENERGY & UTILITIES, BY REGION, 2016–2019 (USD MILLION) 95
TABLE 55 DIGITAL TWIN MARKET FOR ENERGY & UTILITIES, BY REGION, 2020–2026 (USD MILLION) 95
9.7 OIL & GAS 95
9.7.1 SYSTEM DIGITAL TWIN SEGMENT TO HOLD MAXIMUM SHARE OF
THE OIL & GAS MARKET 95
TABLE 56 DIGITAL TWIN MARKET FOR OIL & GAS, BY TYPE, 2016–2026 (USD MILLION) 96
TABLE 57 DIGITAL TWIN MARKET FOR OIL & GAS, BY TYPE, 2020–2026 (USD MILLION) 96
TABLE 58 DIGITAL TWIN MARKET FOR OIL & GAS, BY APPLICATION, 2016–2026
(USD MILLION) 96
TABLE 59 DIGITAL TWIN MARKET FOR OIL & GAS, BY APPLICATION, 2020–2026
(USD MILLION) 97
TABLE 60 DIGITAL TWIN MARKET FOR OIL & GAS, BY REGION, 2016–2019
(USD MILLION) 97
TABLE 61 DIGITAL TWIN MARKET FOR OIL & GAS, BY REGION, 2020–2026
(USD MILLION) 97
9.8 AGRICULTURE 98
9.8.1 AGRICULTURE SEGMENT TO WITNESS SIGNIFICANT GROWTH, ESPECIALLY IN APAC, DURING FORECAST PERIOD 98
TABLE 62 DIGITAL TWIN MARKET FOR AGRICULTURE, BY TYPE, 2016–2026
(USD MILLION) 98
TABLE 63 DIGITAL TWIN MARKET FOR AGRICULTURE, BY APPLICATION, 2016–2026 (USD MILLION) 98
TABLE 64 DIGITAL TWIN MARKET FOR AGRICULTURE, BY REGION, 2020–2026
(USD MILLION) 99
9.9 TELECOMMUNICATION 99
9.9.1 TELECOMMUNICATION SEGMENT TO PLAY AN IMPORTANT ROLE IN GROWTH OF DIGITAL TWIN MARKET POST 5G COMMERCIALIZATION 99
TABLE 65 DIGITAL TWIN MARKET FOR TELECOMMUNICATION, BY TYPE, 2016–2026 (USD MILLION) 99
TABLE 66 DIGITAL TWIN MARKET FOR TELECOMMUNICATION, BY APPLICATION,
2016–2026 (USD MILLION) 100
TABLE 67 DIGITAL TWIN MARKET FOR TELECOMMUNICATION, BY REGION, 2020–2026 (USD MILLION) 100
9.10 RETAIL 100
9.10.1 INVENTORY MANAGEMENT SEGMENT TO ACCOUNT FOR LARGEST SHARE OF DIGITAL TWIN MARKET FOR RETAIL INDUSTRY 100
TABLE 68 DIGITAL TWIN MARKET FOR RETAILS, BY TYPE, 2016–2026 (USD MILLION) 101
TABLE 69 DIGITAL TWIN MARKET FOR RETAILS, BY APPLICATION, 2016–2026
(USD MILLION) 101
TABLE 70 DIGITAL TWIN MARKET FOR RETAILS, BY REGION, 2020–2026
(USD MILLION) 101
9.11 OTHERS 102
9.11.1 APAC TO BE FASTEST-GROWING REGIONAL MARKET FOR DIGITAL TWIN MARKET FOR OTHER INDUSTRIES 102
TABLE 71 DIGITAL TWIN MARKET FOR OTHERS, BY TYPE, 2016–2026 (USD MILLION) 102
TABLE 72 DIGITAL TWIN MARKET FOR OTHERS, BY TYPE, 2020–2026 (USD MILLION) 103
TABLE 73 DIGITAL TWIN MARKET FOR OTHERS, BY APPLICATION, 2016–2026
(USD MILLION) 103
TABLE 74 DIGITAL TWIN MARKET FOR OTHERS, BY APPLICATION, 2020–2026
(USD MILLION) 103
TABLE 75 DIGITAL TWIN MARKET FOR OTHERS, BY REGION, 2016–2019 (USD MILLION) 104
TABLE 76 DIGITAL TWIN MARKET FOR OTHERS, BY REGION, 2020–2026 (USD MILLION) 104

10 DIGITAL TWIN MARKET, BY GEOGRAPHY 105
10.1 INTRODUCTION 106
FIGURE 30 DIGITAL TWIN MARKET: GEOGRAPHIC SNAPSHOT 106
TABLE 77 DIGITAL TWIN MARKET, BY REGION, 2016–2019 (USD BILLION) 106
TABLE 78 DIGITAL TWIN MARKET, BY REGION, 2020–2026 (USD BILLION) 107
10.2 NORTH AMERICA 107
FIGURE 31 NORTH AMERICA: SNAPSHOT OF DIGITAL TWIN MARKET 108
TABLE 79 DIGITAL TWIN MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019
(USD MILLION) 108
TABLE 80 DIGITAL TWIN MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2026
(USD MILLION) 109
TABLE 81 DIGITAL TWIN MARKET IN NORTH AMERICA, BY INDUSTRY, 2016–2019
(USD MILLION) 109
TABLE 82 DIGITAL TWIN MARKET IN NORTH AMERICA, BY INDUSTRY, 2020–2026
(USD MILLION) 110
10.2.1 US 110
10.2.1.1 US holds largest share of digital twin market in North America 110
10.2.2 CANADA 111
10.2.2.1 Emerging digital technologies to drive growth of digital twin
market in Canada 111
10.2.3 MEXICO 111
10.2.3.1 Increasing adoption of digitization in the home & commercial segments in Mexico 111
10.3 EUROPE 111
FIGURE 32 EUROPE: SNAPSHOT OF DIGITAL TWIN MARKET 112
TABLE 83 DIGITAL TWIN MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION) 112
TABLE 84 DIGITAL TWIN MARKET IN EUROPE, BY COUNTRY, 2020–2026 (USD MILLION) 113
TABLE 85 DIGITAL TWIN MARKET IN EUROPE, BY INDUSTRY, 2016–2019
(USD MILLION) 113
TABLE 86 DIGITAL TWIN MARKET IN EUROPE, BY INDUSTRY, 2020–2026
(USD MILLION) 114
10.3.1 GERMANY 114
10.3.1.1 Industry 4.0 initiative to drive digital twin market in Germany 114
10.3.2 UK 114
10.3.2.1 Digital twin market in the UK to witness healthy growth during forecast period 114
10.3.3 FRANCE 115
10.3.3.1 IoT & cloud to play vital role in growth of digital twin market in France 115
10.3.4 REST OF EUROPE 115
10.4 APAC 115
FIGURE 33 APAC: SNAPSHOT OF DIGITAL TWIN MARKET 116
TABLE 87 DIGITAL TWIN MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION) 116
TABLE 88 DIGITAL TWIN MARKET IN APAC, BY COUNTRY, 2020–2026 (USD MILLION) 117
TABLE 89 DIGITAL TWIN MARKET IN APAC, BY INDUSTRY, 2016–2019 (USD MILLION) 117
TABLE 90 DIGITAL TWIN MARKET IN APAC, BY INDUSTRY, 2020–2026 (USD MILLION) 118
10.4.1 CHINA 118
10.4.1.1 China to hold largest share of digital twin market
during forecast period 118
10.4.2 JAPAN 118
10.4.2.1 Growing adoption of IoT to drive digital twin market in Japan 118
10.4.3 INDIA 119
10.4.3.1 Government initiatives pertaining to digitalization to spur growth of digital twin market in India 119
10.4.4 SOUTH KOREA 119
10.4.4.1 South Korea to record high growth rate during forecast period 119
10.4.5 REST OF APAC 119
10.5 ROW 120
FIGURE 34 ROW: SNAPSHOT OF DIGITAL TWIN MARKET 120
TABLE 91 DIGITAL TWIN MARKET IN ROW, BY COUNTRY, 2016–2019 (USD MILLION) 120
TABLE 92 DIGITAL TWIN MARKET IN ROW, BY COUNTRY, 2020–2026 (USD MILLION) 121
TABLE 93 DIGITAL TWIN MARKET IN ROW, BY INDUSTRY, 2016–2019 (USD MILLION) 121
TABLE 94 DIGITAL TWIN MARKET IN ROW, BY INDUSTRY, 2020–2026 (USD MILLION) 122
10.5.1 MIDDLE EAST 122
10.5.1.1 Growth of oil & gas industry to drive digital twin market in the
Middle East 122
10.5.2 SOUTH AMERICA 122
10.5.2.1 Brazil and Argentina are major contributors to growth of digital twin market in South America 122
10.5.3 AFRICA 123
10.5.3.1 African telecommunication industry to see significant growth for digital twin market 123

11 COMPETITIVE LANDSCAPE 124
11.1 OVERVIEW 124
FIGURE 35 COMPANIES IN DIGITAL TWIN MARKET ADOPTED PRODUCT DEVELOPMENT/LAUNCHES AS KEY GROWTH STRATEGY FROM 2016 TO 2020 125
11.2 MARKET PLAYER SHARE ANALYSIS 126
TABLE 95 RANKING OF TOP 5 PLAYERS IN INDUSTRIAL VALVE MARKET, 2019 126
11.3 COMPETITIVE SCENARIO 127
11.3.1 PRODUCT DEVELOPMENT/LAUNCHES 127
TABLE 96 TOP 5 KEY PRODUCT DEVELOPMENT/LAUNCHES 127
11.3.2 TOP 5 PARTNERSHIPS, MERGERS, AND ACQUISITIONS 128
TABLE 97 KEY MERGERS AND ACQUISITIONS 128
11.4 COMPANY EVALUATION MATRIX 129
11.4.1 STAR 129
11.4.2 PERVASIVE 129
11.4.3 EMERGING LEADERS 129
11.4.4 PARTICIPANT 129
FIGURE 36 DIGITAL TWIN MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2019 130
11.5 STRENGTH OF PRODUCT PORTFOLIO (FOR ALL 25 PLAYERS) 131
FIGURE 37 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN DIGITAL TWIN MARKET 131
11.6 BUSINESS STRATEGY EXCELLENCE (FOR ALL 25 PLAYERS) 132
FIGURE 38 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN
DIGITAL TWIN MARKET 132

12 COMPANY PROFILES 133
12.1 INTRODUCTION 133
12.2 KEY PLAYERS 134
(Business Overview, Products/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.2.1 GENERAL ELECTRIC 134
FIGURE 39 GENERAL ELECTRIC: COMPANY SNAPSHOT 134
12.2.2 IBM 138
FIGURE 40 IBM: COMPANY SNAPSHOT 138
12.2.3 PTC 141
FIGURE 41 PTC: COMPANY SNAPSHOT 141
12.2.4 MICROSOFT CORPORATION 144
FIGURE 42 MICROSOFT CORPORATION: COMPANY SNAPSHOT 144
12.2.5 SIEMENS AG 147
FIGURE 43 SIEMENS AG: COMPANY SNAPSHOT 147
12.2.6 ANSYS 153
FIGURE 44 ANSYS: COMPANY SNAPSHOT 153
12.2.7 SAP 157
FIGURE 45 SAP: COMPANY SNAPSHOT 157
12.2.8 ORACLE 160
FIGURE 46 ORACLE: COMPANY SNAPSHOT 160
12.2.9 ROBERT BOSCH 162
FIGURE 47 ROBERT BOSCH: COMPANY SNAPSHOT 162
12.2.10 SWIM AI 164
* Business Overview, Products/Solutions Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
12.3 RIGHT TO WIN 165
12.4 KEY STARTUPS 166
12.4.1 VISUALIZ 166
12.4.2 PRATITI TECHNOLOGIES 166
12.4.3 QIO TECHNOLOGIES 167
12.4.4 PETRA DATA SCIENCE 167
12.4.5 DATUMIX 168
12.5 OTHER IMPORTANT KEY PLAYERS 168
12.5.1 ABB 168
12.5.2 DASSAULT SYSTEM 169
12.5.3 HONEY WELL 169
12.5.4 SCHNEIDER 170
12.5.5 EMERSON 170

13 APPENDIX 171
13.1 INSIGHTS OF INDUSTRY EXPERTS 171
13.2 DISCUSSION GUIDE 172
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 174
13.4 AVAILABLE CUSTOMIZATIONS 176
13.5 RELATED REPORTS 176
13.6 AUTHOR DETAILS 177