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 manufacturing market is expected to grow at a CAGR of 33.5% from 2023 to 2028.
The market is driven by the need for improved production efficiency, reduced downtime, and predictive maintenance. It leverages IoT sensors and data analytics to create real-time replicas of manufacturing processes and equipment. This technology enables better decision-making, quality control, and cost savings. Increasing adoption of Industry 4.0, demand for agile and flexible manufacturing, and a focus on sustainability through optimized resource utilization are significant drivers in this market.
Key Market Trends:
- E-commerce Continues to Thrive: The growth of e-commerce and online shopping was on the rise, driven by the ongoing shift in consumer behavior and the increased adoption of digital payment methods. The COVID-19 pandemic accelerated this trend, leading to increased investments in e-commerce infrastructure, logistics, and digital marketing.
- Sustainability and ESG (Environmental, Social, and Governance): Sustainability and ESG considerations gained significant attention across industries. Companies were increasingly focused on reducing their environmental footprint, implementing sustainable practices, and incorporating ESG criteria into their business strategies. Consumers and investors alike were placing a premium on socially and environmentally responsible companies.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Digital Twin in Manufacturing Market - Forecast to 2028’’
Key Market Insights
- Based on software type, product and machine design software segment held the largest share of the market as of 2022.
- As per the application outlook, the product design 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 aPriori, Autodesk Inc., Oracle, Ansys, Braincube, Productoo, Seebo, Wizata, Cisco Systems, Dassault Systems, Siemens AG, and Amazon among others.
Request for a Sample Copy of the Report: https://www.globalmarketestimates.com/market-report/digital-twin-in-manufacturing-market-4152
Software Type (Revenue, USD Billion, 2023-2028)
- Process Digital Twin
- Product Digital Twin
Application (Revenue, USD Billion, 2023-2028)
- Logistics & Manufacturing 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
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