The global digital twin market size reached $12.94 billion in 2022, according to a new report by GlobalData Plc. Soaring adoption of sophisticated software integrated digital twin capabilities in the areas of product design, manufacturing, construction, engineering, and supply chain management is presumed to drive the market growth over the forecast period.
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Over the last two years, the digital twin market witnessed innovative vertical-specific platform solutions from key vendors in this space that prompted enterprises to accelerate their digital transformation initiatives. For instance, in November 2022, Schneider Electric introduced the latest versions of EcoStruxure Water Cycle Advisor – District Energy and EcoStruxure Water Cycle Advisor – Water Simulation, the digital twin tools for water and district energy utilities. The solution offers powerful benefits to users who are seeking to maximize digital capabilities to ensure efficiency, quality, and insight across the water and district energy lifecycles.
Similarly, in April 2022, Autodesk launched Autodesk Civil 3D, Autodesk InfraWorks, and Autodesk ReCap Pro, the next-generation tools for modernized Infrastructure. These tools enable the company to build infrastructure projects with better architectures. Such innovations, notably vertical-specific platform, are expected to bode well for the digital twin market growth over the forecast period.
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Digital Twin Market Report Highlights
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GlobalData Plc has segmented the Digital Twin market report by Product/Service, Vertical, and region:
Digital Twin Market Product/Service Outlook (Revenue, USD Billion, 2019-2030)
Digital Twin Market Vertical Outlook (Revenue, USD Billion, 2019-2030)
Digital Twin Regional Outlook (Revenue, USD Million, 2019-2030)
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