Brooklyn, New York, Sept. 12, 2023 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the global digital twin in supply chain market is expected to grow at a CAGR of 45.5% from 2023 to 2028.
The Digital Twin in Supply Chain market is being driven by factors such as the increasing adoption of IoT and Industry 4.0 technologies, which enable real-time monitoring and optimization of supply chain processes. Additionally, the demand for enhanced visibility, predictive analytics, and risk management in supply chains is propelling the growth of digital twin solutions. Furthermore, the need to address supply chain disruptions and improve operational efficiency is fuelling the market's expansion.
Key Market Trends
- Increased Adoption of AI and Machine Learning: The integration of AI and machine learning algorithms into digital twin technology is enhancing predictive capabilities for supply chain optimization and decision-making.
- Blockchain Integration: Blockchain is being explored to improve transparency and traceability within supply chains, reducing the risk of fraud and errors.
- Real-time Visibility: The demand for real-time visibility into supply chain operations is growing, with digital twins providing a comprehensive view of the entire supply chain ecosystem.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Digital Twin in Supply Chain Market - Forecast to 2028’’
Key Market Insights
- Based on software type, the process digital twin segment held the largest share of the market as of 2022.
- As per the application outlook, the logistics & supply chain optimization segment will be the fastest-growing segment during the forecast period
- The Asia Pacific region is analyzed to be the fastest-growing region in the market
- The North American region is analyzed to have the largest share in the global market during the forecast period of 2023-2028
- The key players operating in the market are AnyLogistix, Google, ParkourSC, Siemens AG, Datumix, Cognition Factory, SenSat, Logivations, Microsoft, MetaTwin, and Dassault Systems among others.
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Software Type (Revenue, USD Billion, 2023-2028)
- Process Digital Twin
- Product Digital Twin
Application (Revenue, USD Billion, 2023-2028)
- Logistics & Supply Chain Network Optimization
- Logistics Infrastructure & Design
- Warehouse Simulation
- Equipment Condition Monitoring
- Others
By Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Chile
- Rest of Central & South America
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East and Africa
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
