Global Digital Twin Market Size & Outlook, 2023-2030
Global digital twin market, 2018-2030 (US$M)
Related Markets
Global digital twin market highlights
- The global digital twin market generated a revenue of USD 16,754.1 million in 2023 and is expected to reach USD 155,839.7 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 37.5% by 2030.
- In terms of segment, manufacturing accounted for a revenue of USD 2,779.4 million in 2023.
- Agriculture is the most lucrative end-use segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 16,754.1 million |
| Market revenue in 2030 | USD 155,839.7 million |
| Growth rate | 37.5% (CAGR from 2023 to 2030) |
| Largest segment | Manufacturing |
| Fastest growing segment | Agriculture |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Manufacturing, Agriculture, Automotive & Transport, Energy & Utilities, Healthcare & Life Sciences, Residential & Commercial, Retail & Consumer Goods, Aerospace, Telecommunication |
Other key industry trends
- In terms of revenue, the North America accounted for 35.4% of the global digital twin market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Brazil is the fastest growing regional market and is projected to reach USD 1,636.4 million by 2030.
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Digital Twin Market Scope
Digital Twin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global digital twin market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to digital twin market will help companies and investors design strategic landscapes.
Manufacturing was the largest segment with a revenue share of 16.59% in 2023. Horizon Databook has segmented the Global digital twin market based on manufacturing, agriculture, automotive & transport, energy & utilities, healthcare & life sciences, residential & commercial, retail & consumer goods, aerospace, telecommunication covering the revenue growth of each sub-segment from 2018 to 2030.
Innovation, global competition, and technological advances can be considered the key driving factors responsible for the expansion and growth of the digital twin market. The digital twin has provided businesses with additional means to effectively cut costs and augment profits.
Advantages associated with process automation, cloud computing, and social media, among others, encourage businesses to opt for digital twins and further boost the efficiency of their processes.
Reasons to subscribe to Global digital twin market databook:
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Global digital twin market databook
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Our clientele includes a mix of digital twin market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global digital twin market , including forecasts for subscribers. This global databook contains high-level insights into Global digital twin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global digital twin market size, by regions, 2018-2030 (US$M)
Top 10 countries: Digital twin market size, 2023 (US$M)
Global digital twin market share, by end-use, 2023 & 2030 (%, US$M)
Digital twin market: Opportunity assessment by country
Global digital twin market, by region, 2023 (US$M)
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