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Digital Twin Market Is On The Rise In The Next 10 Years – Report Comparison on Douglas Insights

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Isle of Man, Nov. 11, 2022 (GLOBE NEWSWIRE) — Digital Twin Market by 2018-2027 | Demand, Trends, Opportunities, Challenges, Risks Factors Analysis, Competitive Situation | Key Players, Types, Applications, Regional Analysis

Douglas Insights has analyzed various aspects of the Digital Twin Market and revealed the changes in market trends due to the increased use of digital twin technology in the manufacturing and healthcare industries. Its comparison engine has many research articles and reports, making it possible for several experts, analysts, and researchers to obtain essential information relating to key growth drivers and market restraints to make predictions and provide reports offering many insights into the global recycling market. The digital tool effectively compares all existing research and Publisher Ratings, Table of Contents, and Publication Dates.

The global Digital Twin Market is anticipated to increase at a compound annual growth rate (CAGR) of 60.6% from 2018 to 2027. The use of digital twin technology in the manufacturing industry, which has helped streamline supply chain operations, and the use of digital twin technology in the healthcare industry are anticipated to drive market growth.

As a result of the Covid-19 pandemic, trade restrictions and regulations were tightened, resulting in the shutdown of numerous manufacturing facilities and global supply chain disruptions. This resulted in the temporary stagnation of the Digital Twin Market, particularly due to the automotive and infrastructure industries’ shutdowns. However, the pandemic’s effects were mitigated when the healthcare industry adopted Digital Twin technology. After Covid-19, the market is anticipated to experience substantial expansion.

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Market Drivers

The primary driver of the Digital Twin Market is the increased use of Digital Twin technology by manufacturing industries to reduce their operating costs and improve supply chain operations. By utilising Digital Twin technology, manufacturers can work with a digital prototype of the product they are creating and digitally test and optimise it during the design phase. In addition to product manufacturing, the manufacturing industry can use Digital Twin technology to comprehend supply chain behaviour and develop contingency plans.

Despite the fact that the Digital Twin Market is anticipated to expand significantly over the next five years, there is still an important factor to consider: Digital Twin technology requires substantial expenditures. For example, if a manufacturing company is using Digital Twin technology but does not have accompanying technologies needed, such as computer-aided design (CAD), model-based system engineering (MBSE), virtual reality (VR), etc., then it would have to bear extensive costs. This can be a significant deterrent for manufacturers interested in adopting the technology.

Nevertheless, the growing interest in real-time data analytics for Digital Twin technologies presents an exciting opportunity for the market. The outcome of digital models that can incorporate a simulation of the real world using data such as time and context would be truly unique. With a greater emphasis on real-time data analytics, digital models’ diagnostics and predictions would be more accurate.

Large shares of the Digital Twin Market are held by the Automotive and Transportation, Energy and Utilities, Infrastructure, Healthcare, and Aerospace industries. The product design and development applications segment utilises Digital Twin technologies the most.

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Key players

North America held the largest regional market share, with many of the market’s key players being situated in the US, Canada, and Mexico. Some of the key players include Microsoft (US), Amazon Web Services (US), Siemens (Germany), General Electric (US), and ANSYS (US). 

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Digital Twin Market Report Coverage

Report Attributes Details
Market Size in 2021  $XXBN
Market Size Projection in 2028  $XX BN
CAGR (2018-2028)  XX %
Largest Market North America
Growth Drivers The increased use of Digital Twin technology by the manufacturing industries, The rising interest in real-time data analytics regarding Digital Twin technologies.
Segmentation By Technology (IoT & IIot, Blockchain, Artificial Intelligence And Machine Learning, Augmented Reality, Virtual Reality, And Mixed Reality, Big Data Analytics And 5G), Type (Product Digital Twin, Process Digital Twin And System Digital Twin), By Industry (Aerospace & Defense, Automotive & Transportation, Home And Commercial, Healthcare, Energy & Utilities, Oil & Gas And Others)
Regional Analysis North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa)
Key Companies Covered Microsoft (US), Amazon Web Services (US), Siemens (Germany), General Electric (US), and ANSYS (US). 

 

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Segmentations

By Technology:

  • IoT & IIot
  • Blockchain
  • Artificial Intelligence and Machine Learning
  • Augmented Reality, Virtual Reality, and Mixed Reality
  • Big Data Analytics
  • 5G

By Type:

  • Product Digital Twin
  • Process Digital Twin
  • System Digital Twin

By Industry:

  • Aerospace & Defense
  • Automotive & Transportation
  • Home and Commercial
  • Healthcare
  • Energy & Utilities
  • Oil & Gas
  • Others

Key questions answered in this report

  • COVID 19 impact analysis on global Digital Twin industry.
  • What are the current market trends and dynamics in the Digital Twin market and valuable opportunities for emerging players?
  • What is driving Digital Twin market?
  • What are the key challenges to market growth?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which product type segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Digital Twin market?
  • Key growth pockets on the basis of regions, types, applications, and end-users
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

Unique data points of this report

  • Statistics on Digital Twin and spending worldwide
  • Recent trends across different regions in terms of adoption of Digital Twin across industries
  • Notable developments going on in the industry
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)

Table of Content:

Chapter 1. Executive Summary 
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Digital Twin Market, by Region, 2018-2026 (USD Billion)
1.2.2. Digital Twin Market, by Technology, 2018-2026 (USD Billion) 
1.2.3. Digital Twin Market, by Type, 2018-2026 (USD Billion) 
1.2.4. Digital Twin Market, by Industry, 2018-2026 (USD Billion) 
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Digital Twin Market Definition and Scope 
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Digital Twin Market Dynamics 
3.1. Digital Twin Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

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Chapter 4. Global Digital Twin Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political 
4.2.2. Economical
4.2.3. Social 
4.2.4. Technological 
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Digital Twin Market, by Technology 
5.1. Market Snapshot 
5.2. Global Digital Twin Market by Technology, Performance – Potential Analysis
5.3. Global Digital Twin Market Estimates & Forecasts by Technology 2016-2026 (USD Billion)
5.4. Digital Twin Market, Sub Segment Analysis
5.4.1.  IoT & IIot
5.4.2. Blockchain
5.4.3. Artificial Intelligence and Machine Learning
5.4.4. Augmented Reality, Virtual Reality, and Mixed Reality
5.4.5. Big Data Analytics
5.4.6. 5G

Chapter 6. Global Digital Twin Market, by Type          
6.1. Market Snapshot 
6.2. Global Digital Twin Market by Type, Performance – Potential Analysis
6.3. Global Digital Twin Market Estimates & Forecasts by Type 2016-2026 (USD Billion)
6.4. Digital Twin Market, Sub Segment Analysis
6.4.1. Product Digital Twin
6.4.2. Process Digital Twin
6.4.3. System Digital Twin

…………….. ToC continued

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About Douglas Insights-

Douglas Insights UK Limited is the first company to provide comparison of market research reports by Table of content, price, ratings and number of pages. We understand the value of time. Productivity and efficiency are possible when you take prompt and assured decisions. With our advanced algorithm, filters, and comparison engine, you can compare your preferred reports simultaneously based on publisher rating, published date, price, and list of tables. Our data portal enables you to find and review reports from several publishers. You can evaluate numerous reports on the same screen and select the sample for your best match.

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Artificial Intelligence

2024 Tang Prize Laureates Announced: Six Global Visionaries to Be Honored in Taiwan This September

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TAIPEI, June 22, 2024 /PRNewswire/ — The prestigious 2024 Tang Prize Laureates have been announced, recognizing outstanding contributions in various fields. The Tang Prize in Sustainable Development is awarded to American chemist Omar M. Yaghi. In the field of Biopharmaceutical Science, the prize is jointly awarded to Joel F. Habener, Svetlana Mojsov, and Jens Juul Holst. University Professor Emeritus Hsu Cho-yun of the University of Pittsburgh and Academician of Academia Sinica is honored with the Tang Prize in Sinology. Mary Robinson, a former lawyer and senator, former president of Ireland, former United Nations High Commissioner for Human Rights, and current Chair of The Elders, is awarded the Tang Prize in Rule of Law. These six distinguished laureates will be formally honored at an upcoming ceremony to be held in Taiwan this September.

The Tang Prize in Sustainable Development is awarded to Omar M. Yaghi, for his extraordinary contributions to sustainable development, particularly his pioneering work with Metal-Organic Frameworks (MOFs) and other ultra-porous frameworks that can be tailored for carbon capture, hydrogen and methane storage, and water harvesting from desert air. His research has revolutionized the field of chemistry and materials science, offering transformative solutions for sustainable development through the creation of customizable materials with exceptional properties.
Professor Joel F. Habener, Professor Svetlana Mojsov, and Professor Jens Juul Holst have been jointly awarded the Tang Prize in Biopharmaceutical Science, for the discovery of GLP-1 (7-37) as an insulinotropic factor and the development of GLP-1 (7-37)-based anti-diabetic and anti-obesity drugs.
University Professor Emeritus Hsu Cho-yun is awarded the Tang Prize in Sinology for his exceptional contributions to the field of Sinology. Professor Hsu’s illustrious academic career has been distinguished by his holistic approach to the study of ancient Chinese history, seamlessly integrating an exploration of cultural and intellectual exchanges between China and the world. With his profound erudition and unwavering public spirit, Professor Hsu embodies the quintessential Sinologist, possessing both a deep historical sensibility and a broad, worldly vision.
The Tang Prize in Rule of Law is awarded to Professor Mary Robinson, for her “powerful advocacy for the most disadvantaged in different spheres, including gender equality, poverty alleviation, human rights, and climate justice.” In particular, the Selection Committee noted that her “passionate endeavors demonstrated an effective combination of legal acumen and practical solutions.” The Committee also noted that “from the national to the global stage, legal and political, she has innovatively transformed and expanded the various positions in which she has served to strengthen the rule of law.”
About the Tang Prize
Since the advent of globalization, mankind has been able to enjoy the convenience brought forth by the advancement of human civilization and science. Yet a multitude of challenges, such as climate change, the emergence of new infectious diseases, wealth gap, and moral degradation, have surfaced along the way. Against this backdrop, Dr. Samuel Yin established the Tang Prize in December 2012. It consists of four award categories, namely Sustainable Development, Biopharmaceutical Science, Sinology, and Rule of Law. Every other year, four independent and professional selection committees, comprising many internationally renowned experts, scholars, and Nobel winners, choose as Tang Prize laureates people who have influenced and made substantive contributions to the world, regardless of ethnicity, nationality or gender. A cash prize of NT$50 million (approx. US$1.7 million) is allocated to each category, with NT$10 million (approx. US$ 0.35 million) of it being a research grant intended to encourage professionals in every field to examine mankind’s most urgent needs in the 21st century, and become leading forces in the development of human society through their outstanding research outcomes and active civic engagement.
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Key Tech Stocks Optimizing AI Usability and Infrastructure for a $20-Trillion Future

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USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – Several big winners have been made already in the ongoing artificial intelligence (AI) revolution. However, there’s clearly none bigger than chipmaking giant NVIDIA Corporation (NASDAQ: NVDA), which just surpassed two of its big tech peers to become the most valued publicly-traded company on the planet. To put it into perspective, NVIDIA’s market cap is currently larger than each of Europe’s largest stock markets, while lucky investors who bet $1000 on NVIDIA stock just ten years ago would be sitting on an extra $297,600 today. Now as analysts are predicting that AI and cryptocurrency could inject $20 trillion into the global economy by 2030, the best minds in the tech sector are moving their pieces into place to secure their piece of the pie. Behind the scenes, tech stocks are optimizing the infrastructure, security, and usability of AI, including new developments from Avant Technologies Inc. (OTCQB: AVAI), International Business Machines Corporation (IBC) (NYSE: IBM), Cloudflare, Inc. (NYSE: NET), and Accenture plc (NYSE: ACN).

Known as a pioneer in the sector for its innovative AI technology, Avant Technologies Inc. (OTCQB: AVAI) has improved its main product, Avant AI™. This sophisticated AI system, celebrated for its advanced machine and deep learning capabilities, is adaptable across a wide range of industries.
In a recent strategic development, Avant has signed a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a Florida-based leader in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW in a deal valued at $50 million.
“Avant’s revolutionary AI software platform is poised to transform the landscape of data center management,” said William Hisey, CEO of Avant.  “By integrating proprietary machine learning algorithms with open-source innovations into these servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation. This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Flow Wave Immersible AI Supercomputer Servers are great for heavy AI and machine learning tasks because they have strong processing power, meaning they can analyze data faster and more efficiently. Their special cooling technology uses less energy, saving money and reducing environmental impact. The servers are also compact and easy to set up, making them ideal for data centers with limited space. Plus, their design helps them last longer and require less maintenance.
Avant plans to tackle the challenges of the digital age by buying up to 50 of these high-performance servers from Flow Wave. These servers, with their advanced cooling technology, boost performance and save energy. This deal shows Avant’s dedication to providing top-notch AI infrastructure and improving efficiency. More details about the transaction will be shared once a definitive agreement is finalized.
One of the most active tech giants in the AI space is International Business Machines Corporation (IBC) (NYSE: IBM), which recently released a new methodology through its IBM Research® wing called LAB (Large-Scale Alignment for ChatBots), through an open-source project called InstructLab with its subsidiary Red Hat®, which IBM acquired for $34 billion in 2019. The InstructLab project builds on the LAB technique for a community-driven approach to language model development through skills and knowledge training.
As well, IBM has teamed up with WPP and LinkedIn to launch a new business-to-business (B2B) solution powered by IBM’s AI and data platform watsonx, designed to reinvent how B2B markets identify and engage clients and prospects across the buying journey. WPP Open for B2B will help marketers solve complex B2B marketing challenges, accurately identify and engage buying groups, and improve clients’ return on investment.
“B2B marketers have been focused on creating truly personalized, relevant and consistent experiences for buying groups at scale for years,” said Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM. “Our collaboration with WPP and LinkedIn provides real-time, actionable insights that are based on trusted data. We are excited to create and use these new, powerful and trusted AI solutions to deliver a force multiplier for B2B marketing.”
Cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) recently announced the general availability of its AI Gateway platform, dubbed as a unified interface for managing and scaling the generative AI workloads of clients. Since its beta launch in September 2023, AI Gateway has handled over 500 million requests and is now ready for full client use.
The general availability release followed upon another Cloudflare announcement of a collaboration with Hugging Face, the leading open and collaborative platform for AI builders, for a one-click-simple global deployment for AI applications. With its Workers AI platform now generally available, Cloudflare became the first serverless inference partner integrated on the Hugging Face Hub for deploying models, enabling developers to quickly, easily, and affordably deploy AI globally, without managing infrastructure or paying for unused compute capacity.
“Workers AI is one of the most affordable and accessible solutions to run inference,” said Matthew Prince, CEO and co-founder, Cloudflare. “With Hugging Face and Cloudflare both deeply aligned in our efforts to democratize AI in a simple, affordable way, we’re giving developers the freedom and agility to choose a model and scale their AI apps from zero to global in an instant.”
Reporting impressive generative AI revenues in its latest Q3 2024 fiscal results has caused shares of Accenture plc (NYSE: ACN) to jump this week, reporting more than $900 million in generative AI bookings in the latest quarter alone.
“Our actions to stay laser-focused on the needs of our clients are clear in our third quarter results,” said Julie Sweet, Chair and CEO of Accenture. “We… achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology.”
Prior to the financial report, Accenture announced its intent to acquire Italian-based network services company, Fibermind, which specializes in fiber and mobile 5G networks deployment, as well as infrastructure engineering services. Together, Accenture and Fibermind will offer clients network engineering capabilities, deep industry knowledge, and technology assets powered by automation, robotics, data and AI.
Prior to its surge into the position as the world’s most valuable publicly-traded company, NVIDIA Corporation (NASDAQ: NVDA) made a pair of announcements, further cementing its role in the AI revolution.
The first was the announcement of its NVIDIA Omniverse Cloud Sensor RTX, a set of microservices that enable physically accurate sensor simulation to accelerate the development of fully autonomous machines of every kind, allowing developers to test sensor perception and associated AI software at scale in physically accurate, realistic virtual environments prior to real-world deployment.
The second announcement was the NVIDIA AI Computing by HPE, a portfolio of AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI, co-developed with Hewlett Packard (HP).
“Generative AI and accelerated computing are fueling a fundamental transformation as every industry races to join the industrial revolution,” said Jensen Huang, Founder and CEO of NVIDIA. “Never before have NVIDIA and HPE integrated our technologies so deeply – combining the entire NVIDIA AI computing stack along with HPE’s private cloud technology – to equip enterprise clients and AI professionals with the most advanced computing infrastructure and services to expand the frontier of AI.”
All NVIDIA AI Computing offerings by HPE will be available through a combined marketing strategy involving sales teams, channel partners, and training. This strategy includes a global network of system integrators such as Deloitte, HCLTech, Infosys, TCS, and Wipro. These integrators will assist enterprises across various industries in running complex AI workloads.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 
CONTACT:
USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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2024 World Intelligence Expo Begins with a Grand Opening in Tianjin

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TIANJIN, China, June 21, 2024 /PRNewswire/ — On June 20th, Tianjin hosted the opening of the 2024 World Intelligence Expo (WIE). Under the theme “Intelligence: Expansive Development Space, Sustainable Growth Driver,” the event was co-organized by the people’s governments of the Tianjin and Chongqing municipalities.

Chinese President Xi Jinping sent a congratulatory letter to the expo, pointing out that AI, as an important driving force for a new round sci-tech revolution and industrial transformation, will have a far-reaching impact on global economic and social development and human civilization progress. In his letter, Xi also noted that China has attached great importance to the development of AI, actively driven the deep integration of the Internet, big data and AI with real economy to cultivate and build the intelligent industry, accelerate the development of new quality productivity, and provide new momentum for high-quality development.
Chen Min’er, secretary of the CPC Tianjin Committee, addressed the opening ceremony of the expo. Wan Gang, chairman of China Association for Science and Technology, delivered the keynote speech. Hu Henghua, mayor of Chongqing; Wu Zhaohui, vice president of Chinese Academy of Sciences; Liu Liehong, head of the National Data Administration; Long Teng, vice minister of the Ministry of Science and Technology; and Shan Zhongde, vice minister of the Ministry of Industry and Information Technology, addressed the expo, respectively. Tianjin Mayor Zhang Gong presided over the opening ceremony.
In his speech, Chen Min’er pointed out that Tianjin has been adhering to sci-tech innovation and industrial innovation at the same time, actively propelling exploration and practical applications in the realm of AI, and accelerating the development of new quality productivity to better empower its high-quality development and living. Chen added, “Leading sci-tech innovation with intelligence, Tianjin will rev up the R&D and application of some key core technologies, vigorously develop the sci-tech service sector, streamline the supply and demand channels for sci-tech achievements, boost sci-tech and innovation parks to improve their quality and efficiency, and accelerate the inter-sector application of AI to help innovation and breakthroughs in the fields of life science, low-carbon technology, and future research.
According to Hu Henghua, Chongqing is speeding up in digital industrialization and industrial digitization to build itself into a new digital economy highland. The 2025 World Intelligence Expo is scheduled to be held in Chongqing. Hu invited everyone to delineate a new AI landscape together, share golden opportunities during the digitization of Chongqing, and co-build a promising future in the AI era.
Wu Zhaohui suggested strengthening the inter-discipline cooperation to consolidate the AI research foundation, enriching AI scenarios with applets, and deepening industry-institute interactions to build an AI innovation ecosystem.
Zeng Yi, chairman of China Electronics Corporation; Chen Zhongyue, chairman of China Unicom; Yang Yuanqing, chairman and CEO of Lenovo; and Zhou Hongyi, founder of Qihoo 360 delivered speeches.
Contact: Xing MeiqiTel: 0086-22-28209030E-mail: [email protected]
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