Global Digital Twin Market: Key Highlights
Global Digital Twin Market: Key Market Dynamics
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Global Digital Twin Market: Regional Overview
The Digital Twin market in the North American region is projected to witness to grow with highest CAGR during forecast period. Increasing adoption of wireless technologies, communication technologies, and early adoption of technological infrastructure will have impacted positively on the growth rate of the region. The presence of global players such as General Electric Company, Microsoft, Oracle, Cisco Systems Inc. are expected to increase the market share of digital twin market in North America.
Europe is expected to dominate the market during forecast period. Increasing manufacturing industry, developments in automotive industry, and adoption of latest technologies in healthcare industry will create many opportunities for digital twin market during forecast period. Presence of global players such as SAP SE, Siemens, and ABB will provide latest product, services, and software in digital twin market for operating organizations with trending technologies.
Global Digital Twin Market: Key Players Overview
The company engages in the provision of products, services, and solutions in electrification, industrial automation, motion technologies, robotics & discrete automation. In September 2019, ABB Robotics launched PickMaster Twin, a digital twin software to shorten commissioning times from days to hours and cut changeover periods from hours to minutes. Digital twin technology allows customers to test out robotic configurations on virtual production lines before physical lines are built.
The company provide various software, solutions, and services in Artificial Intelligence, Cloud, Digital Twin, Edge, Extended Reality, and IIoT for various end user industries such as chemicals, food and beverage, cpg, infrastructure, life sciences, marine, mining, oil and gas, power and utilities, pulp and paper, steel fabrication, and water and wastewater. In July 2020, DORIS, AVEVA and Schneider Electric are entered into agreement to create digital twin for oil & gas industry.
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