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Transportation & Automotive Sector to sway the Digital Twin Technology Market, reaching US$ 72.65 Bn by the year 2032, Future Market Insights, Inc.

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NEWARK, Del, Oct. 11, 2022 (GLOBE NEWSWIRE) — The global digital twin technology market stands at US$ 9.5 Bn as of now and is expected to reach US$ 72.65 Bn by the year 2032 at a robust CAGR of 22.6% from 2022 to 2032.

Digital twin technology is inclusive of XR (Extended Reality, cloud, Internet of Things (IoT), and AI (Artificial Intelligence). They are widely used for digitally representing real-time data. In other words, digital twins help in building predictive models and gauging probability of success of various physical prototypes prior to them getting rolled out. The post-Covid-era is more into adopting digital twin technology across several applications way beyond production – like telecom, healthcare, real estate, and retail.

Organizations going for digital twin can easily access behavioral data from the connected products (IoT, in particular), which helps the product engineers as well as designers in identifying future iterations of the problems. The product performance, on the whole, could be improved.

Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4267

Coming to telecom service, digital twin technology extends support to the telecom service providers with respect to designing complicated network architectures and upgradation of existing network infrastructures for accommodating novel solutions like FTTH (Fiber to the Home) and software-defined networking.

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The healthcare personnel, with the help of digital twin technology, are able to look through infected patient’s data to perform treatment simulations. The commercial and residential sectors prefer showcasing 3D models of the smart city projects.

The transportation & automotive vertical holds the largest market share in digital twin technology market due to rising utilization for simulation, designing, MRO (Maintenance, Repair, and Overhaul), manufacturing, and aftermath. Digital twin does facilitate visualizing a race car engine to gauge importance of maintaining components that are at the risk of getting damaged or burnt out. Digital twin could also be used aftermath to collect feedback.

In the aerospace sector, digital twin is used in designing and developing products with ML (Machine Learning), AI (Artificial Intelligence), cloud computing, and IoT (Internet of Things). Aerospace vertical makes use of digital twins for developing one/more critical systems like thermal protection system, avionics, energy storage systems, propulsion, and airframes.

At the same time, the fact that cloud-based digital twins need online storage for assets’ information, thereby resulting in privacy and security concerns. Also, there is a dearth of skilled professionals, which is making it difficult to devise an appropriate cybersecurity strategy.

Read Full Report @ https://www.futuremarketinsights.com/reports/digital-twin-technology-market

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Key Takeaways from Digital Twin Technology Market

  • The transportation & automotive sector holds more than 15% of the market share due to growing demand for automotives. This could be reasoned with growing adoption of EVs all across.
  • The Asia-Pacific is expected to grow at a whopping CAGR of ~40% in the digital twin technology market, led by South Korea, Japan, India, and China.
  • North America and Europe are at the matured stage of digital twin technology market.

Competitive Landscape

  • Microsoft Corporation, in May 2021, entered into collaboration with Aera Technology for integrating the latter’s cognitive operating system with the former’s twin technology for creating virtual representation in automation process.
  • IBM Corporation entered into long-term partnership with Siemens AG in June 2020 for announcing availability of advanced solution combining the elements of former’s Maximo portfolio with the latter’s Xcelerator. The purpose of this solution is that of enhancing the SLM (Service Lifecycle Management) assets to tabling a digital thread amongst equipment manufacturers, project owners, and product design for increasing manufacturing capacity.
  • ANSYS, Inc. in March 2021, entered into collaboration with ENGIE, so that the former’s twin technology is used by the latter for developing high fidelity platform for delivering 3D CFD (Computational Fluid Dynamics) results real-time.
  • Dassault Systemes, in April 2021, renewed partnership with Bouygues Construction for powering construction industry by making use of 3D experience platform for increasing productivity.
  • Autodesk Inc., in April 2021, launched Autodesk Tandem (a virtual twin tool) for streamlining flow of the real-time data amongst AEC (architectural, engineering, and contracting) teams and the project owners. The ultimate result would be a twin technology model.
  • Microsoft, in March 2022, announced its strategic partnership with Newcrest for adopting Azure as preferred cloud provider at the global scale and also work on the digital twins with sustainability data model.
  • Google Cloud, in January 2022, tabled a supply chain digital twin for providing manufacturers and distributors with precise visibility of the operations.

Visit for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-4267

What does the Report Cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the digital twin technology market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
  • The research study is based on application (manufacturing process planning and product design), and by end-user (automotive, chemical, agriculture, oil & gas, and research & development).

Key Segments Profiled in the Digital Twin Technology Market Survey

By Application:

  • Manufacturing Process Planning
  • Product Design

By End User:

  • Automotive
  • Chemical
  • Agriculture
  • Oil & Gas
  • Research & Development

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

Further Assistance in Purchasing this Report @ https://www.futuremarketinsights.com/checkout/4267

Table of Content

1. Executive Summary

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    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

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2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

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        3.1.1. Drivers

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Cloud OSS BSS Market: Newly-released Cloud OSS BSS Market analysis report by Future Market Insights shows that global sales of Cloud OSS BSS Market in 2021 was held at US$ 24 Bn. 

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

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Future Market Insights Inc.  
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA  
T: +1-845-579-5705  
For Sales Enquiries: [email protected]   

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Artificial Intelligence

Discover the Wonders of Jordan: Wego and Jordan Tourism Board Join Forces

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DUBAI, UAE, July 8, 2024 /PRNewswire/ — Wego, the number 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its strategic partnership with the Jordan Tourism Board, aimed at promoting the diverse and captivating travel offerings of the Hashemite Kingdom of Jordan.

 
 
Jordan is renowned for its rich history, stunning landscapes, and warm hospitality, making it a sought-after destination for travelers seeking unique and unforgettable experiences. Through this collaboration, Wego and the Jordan Tourism Board are committed to showcasing the country’s myriad attractions, from the ancient wonders of Petra and Jerash to the natural wonders of the Dead Sea and Wadi Rum.
“Wego is excited to partner with the Jordan Tourism Board to highlight the beauty and cultural richness of Jordan to travelers worldwide,” said Mamoun Hmedan, Chief Business Officer, Wego. “Jordan offers a wide range of experiences for every type of traveler, from history enthusiasts to adventure seekers. We look forward to working closely with the Jordan Tourism Board to inspire travelers to explore all that Jordan has to offer.”
As part of the partnership, Wego users will have access to exclusive travel deals, curated itineraries, and insider tips to help them plan their perfect trip to Jordan. Whether travelers are interested in exploring ancient ruins, embarking on a desert adventure, or simply indulging in the country’s delectable cuisine, Wego and the Jordan Tourism Board are dedicated to providing them with the resources they need to make their Jordanian adventure a memorable one.
Through joint marketing initiatives, social media campaigns, and promotional activities, Wego and the Jordan Tourism Board will work together to raise awareness about Jordan as a premier travel destination and inspire travelers to explore its hidden treasures.
About Wego
Wego is the number 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA).
It provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
The company was founded in 2005 and is dual headquartered in Dubai and Singapore with regional operations in Bangalore, Riyadh, Cairo, Lahore, and Kuala Lumpur.
Photo – https://mma.prnewswire.com/media/2454482/Wego.jpg
 

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Artificial Intelligence

Internet of Things (IoT) in Smart Cities Market: Driving Adoption for a USD 795.98 Billion Future by 2031| SkyQuest Technology

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internet-of-things-(iot)-in-smart-cities-market:-driving-adoption-for-a-usd-795.98-billion-future-by-2031|-skyquest-technology

WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Internet of Things (IoT) in Smart Cities Market size was valued at USD 148.60 billion in 2022 poised to grow from USD 179.06 billion in 2023 to USD 795.98 billion by 2031, growing at a CAGR of 20.5% in the forecast period (2024-2031).

The innovative IoT based smart city solutions are increasing the demand in various sectors. These solutions include analytics, security, cloud, and network connectivity. One of the major drivers of market expansion in smart cities is the rise of government initiatives and smart city projects. Growth in the use of IoT technologies for control and monitoring is expected to drive the market. High urban population density contributes to the growth. IoT devices, sensors and data analytics are all integrated into the concept of “smart cities” to enhance urban growth, efficiency and sustainability.
Download a detailed overview:
https://www.skyquestt.com/sample-request/internet-of-things-in-smart-cities-market
Internet of Things (IoT) in Smart Cities Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 179.06 billion
Estimated Value by 2031
USD 795.98 billion
Growth Rate
Poised to grow at a CAGR of 20.5%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Offering and Application
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Evolving IoT Technology and Urban Transformation
Key Market Drivers
Rise in Adoption of IoT Technology
Segments covered in Internet of Things (IoT) in Smart Cities Market are as follows:
OfferingSolutions (Remote Monitoring, Real Time Location System, Data Management, Reporting and Analytics, Security, Network Management), And Services (Professional Services {Consulting, System Integration and Deployment, Support and Maintenance}, And Managed Services)ApplicationSmart Transportation, Smart Building, Utilities, Citizen Services (Education, Healthcare, Public Safety)Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-in-smart-cities-market
Smart Infrastructure: IoT Offerings Shaping Tomorrow’s Cities
The solutions segment accounted for the largest share and dominate the market. The global internet of things (IoT) in smart cities market offers practical innovative solutions focused on integrated information that stores, processes and acts on large amounts of data generated by networked devices for real-time location system optimization and remote monitoring facilitates better monitoring and faster response.
On the other hand, the services segment of the global market is expected to grow the fastest in the smart city market. First, the challenges of adopting IoT solutions are increasing the need for consulting, integration and managed services, which require specialized skills. Second, cities depend on them tasks are raised to build, deploy and control customized solutions while aiming to maximize the value of IoT systems.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-in-smart-cities-market
Transforming Urban Living: IoT Applications in Smart Cities
Real-time traffic management, predictive maintenance, and advanced public transport planning enabled by communication technologies and data analytics are the main areas of current innovation and applications in smart transportation in the world. There is scarcity of resources, pollution and traffic, and increased accessibility and security. Transportation is the largest segment in the global market by application.
In the market, public sector service centers are expected to grow rapidly due to the global IoT’s ability to improve lives for its inhabitants. It provides smart classrooms by academically enhancing the learning experience. IoT in healthcare enables smarter, more efficient and more efficient patient management, thus contributing to market expansion. It also provides comprehensive surveillance systems and emergency response measures that affect public safety. They have the potential to improve urban growth, efficiency and quality of life. Growing growth in IoT technology and public safety concerns are driving the rapid growth of the segment.
Smart Cities, Smarter Future: The Role of IoT
The Internet of Things (IoT) is changing the way smart cities work, offering unprecedented connectivity and integration. As cities become more connected, the use of IoT technology seamless integration becomes increasingly important in a sustainable environment. These connected devices and sensors can collect and analyze data in real time, allowing for more informed decision making.
Related Reports:
Internet Of Things (IoT) Market
IoT Security Market 
Narrowband-IoT (NB-IoT) Market
Consumer IoT Market
Internet of Things (IoT) Professional Services Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
 

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Artificial Intelligence

Cloud Security Market Will Surpass USD 147.45 Billion by 2031; Rise of Cloud Computing to Aid Growth| SkyQuest Technology

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WESTFORD, Mass., July 5, 2024 /PRNewswire/ — According to SkyQuest, the global Cloud Security Market size was valued at USD 33.5 billion in 2022 and is poised to grow from USD 39.5 billion in 2023 to USD 147.45 billion by 2031, growing at a CAGR of 17.9% in the forecast period (2024-2031).

Increase in complexity of cyberattacks and data breaches has bolstered the demand for novel cloud security solutions around the world. The rising use of cloud technologies and platforms on a global level is also boosting the cloud security market growth. The high use of cloud computing and edge computing services by multiple organizations also creates a high demand for better cloud security infrastructure. The global cloud security market is segmented into type, service model, offering, end user, and region.
Download a detailed overview:https://www.skyquestt.com/sample-request/cloud-security-market
Cloud Security Market Overview:
Report Coverage
Details
Market Revenue in 2023
USD 39.5 billion
Estimated Value by 2031
USD 147.45 billion
Growth Rate
Poised to grow at a CAGR of 17.9%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Service Model, End-User and Offering
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Digital Transformation Fortifying Cloud Security with AI and ML
Key Market Drivers
Rising demand for Cloud Computing and Cybersecurity through Advanced Data Solutions
Segments covered in Cloud Security Market are as follows:
TypeLegal Issues, Compliance, Governance, Virtualization, Data Security, Interface, Network SecurityService ModelSaaS (Software as a Service), IaaS (Infrastructure as a Service), PaaS (Platform as a Service)End-UserAerospace & Defence, Government, BFSI, Healthcare, IT, Telecommunication, Manufacturing, Retail, Energy & Utilities, Media & Entertainment, OthersOfferingSolutions, ServicesRequest Free Customization of this report:https://www.skyquestt.com/speak-with-analyst/cloud-security-market
Compliance to Remain a Key Cloud Security Concern for All Companies through 2031
Compliance has always been a key part of any security solution and the same is also true for cloud security as well. Regulatory bodies and governments have been implementing stricter laws and mandates to ensure the safety of data on cloud platforms. Ensuring compliance with these norms is essential for any cloud service provider, which is why a security solution that understands and manages compliance is always in demand. Ensuring cross-border compliance could help cloud security companies get more bang for their buck in the future. 
Legal issues and data privacy concerns are also estimated to drive up the demand for novel cloud security solutions. Complex legal and regulatory frameworks are also contributing to the high adoption of cloud security with legal security features as well. Data and network security are also important aspects that cloud security providers need to emphasize going forward.
Cloud security Solutions to Remain Essential Securing a Cloud Environment
Cloud security solutions powered by artificial intelligence and other advanced technologies are being developed around the world. Deployment of different solutions for enterprise and individual cloud applications will also create new opportunities for cloud security market players over the coming years. Data loss prevention and disaster recovery are some key features of cloud security solutions that most companies are trying to improve. Meanwhile, the rapid adoption of cloud security is also creating a high demand for cloud security services as well. Cloud security providers are continually focusing on improving their services by offering round-the-clock support and predictive threat management services.
View report summary and Table of Contents (TOC):https://www.skyquestt.com/report/cloud-security-market
High Use of Cloud Platforms and Technologies in the IT Industry Creates an Opportune Setting for Cloud Security Vendors
The information technology (IT) industry has always led the adoption of novel technologies and the cloud is one of them. The rising use of cloud platforms and migration of traditional technologies in cloud environments are boosting the demand for cloud security in the IT industry. The BFSI industry will also offer new moneymaking scope for cloud security providers as it moves towards digitization and the incidence of digital frauds increases. Telecommunication end users are also expected to bolster the demand for novel cloud security solutions as they utilize cloud technology to become digital service providers. Adoption of automation and smart manufacturing practices in the manufacturing space will also promote the use of cloud platform, which in turn, is expected to boost cloud security demand as well.
Cloud security companies have a lot of potential to expand their business in many industry verticals. New companies can focus on providing services to build a strong market presence and then move on to making cloud security solutions to compete with the leading market players.
Related Report:
Cyber Security Market
Network Security Market
Endpoint Security Market
Managed Security Services Market
Application Security Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
 

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