Canada Digital Twin Market Size & Outlook, 2023-2030
Canada digital twin market, 2018-2030 (US$M)
Related Markets
Canada digital twin market highlights
- The Canada digital twin market generated a revenue of USD 1,433.0 million in 2023 and is expected to reach USD 14,959.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 39.8% from 2024 to 2030.
- In terms of segment, manufacturing was the largest revenue generating end-use in 2023.
- Agriculture is the most lucrative end-use segment registering the fastest growth during the forecast period.
Digital twin market data book summary
| Market revenue in 2023 | USD 1,433.0 million |
| Market revenue in 2030 | USD 14,959.7 million |
| Growth rate | 39.8% (CAGR from 2023 to 2030) |
| Largest segment | Manufacturing |
| Fastest growing segment | Agriculture |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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 |
| Key market players worldwide | ABB Ltd, Amazon.com Inc, Ansys Inc, Autodesk Inc, Schneider Electric SE, Bentley Systems Inc Ordinary Shares - Class B, Dassault Systemes SE, GE Aerospace, Hexagon AB ADR, International Business Machines Corp, Microsoft Corp, PTC, Robert Bosch Engineering & Business Solutions, Rockwell Automation Inc, SAP SE, Siemens AG |
Other key industry trends
- In terms of revenue, Canada accounted for 8.6% of the global digital twin market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. digital twin market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 14,959.7 million by 2030.
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Digital Twin Market Scope
Digital Twin Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 16.71% in 2023. Horizon Databook has segmented the Canada 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.
In Canada, the unprecedented challenges presented by the COVID-19 pandemic boosted the prevailing digitization trend in 2020. Canadian technology authorities such as Next Generation Manufacturing Canada, BIM Academy Canada and others are focusing on adopting and supporting the country's digitization.
They are focusing on adopting the Internet of Things (IoT) and AI technologies into the country's businesses. Moreover, these authorities are also planning to support the country's ecommerce industry. This is expected to create growth opportunities for digital transformation vendors in the country.
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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 country-level data and insights on the Canada digital twin market , including forecasts for subscribers. This country databook contains high-level insights into Canada digital twin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada digital twin market size, by end-use, 2018-2030 (US$M)
Canada Digital Twin Market Outlook Share, 2023 & 2030 (US$M)
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