Product Code: GVR-2-68038-494-9
Digital Twin Market Growth & Trends:
The global digital twin market size is projected to reach USD 155.84 billion by 2030, registering a CAGR of 34.2% from 2025 to 2030, according to a new study by Grand View Research Inc. Increasing public and private investments in digital transformation solutions, rising significance of smart factories, and global proliferation of cloud-based platforms are collectively contributing to market growth. The digital twin facilitates enterprises to efficiently reduce expenses and increase revenue. Various factors, such as social media, cloud computing, and process automation, also contribute to the use of digital twins to increase process efficiency and propel market expansion.
The emergence of advanced technologies, such as robotic process automation (RPA), the Internet of Things (IoT), artificial intelligence (AI), cloud computing, and big data analytics is creating a positive outlook for the market. Implementing IoT in manufacturing allows electronic devices to communicate with each other without any human interference within a prevailing internet infrastructure. Therefore, IoT could have a profound impact on the digital twin industry. IoT allows connected devices to interact with each other and exchange critical notifications, such as defective or damaged ping, supporting market growth. Several industries have adopted digital twin technology.
For instance, a new packaging machine can be tested virtually before being introduced commercially. At the same time, a fan motor of an industrial HVAC unit can also be tested virtually before it is installed. Digital twins enable end-users to conduct tests on the product while enhancing the digital world's decision-making capabilities. Digital twins are rapidly gaining momentum in the healthcare, automotive, and manufacturing industries. Various digital twin platform-developing companies have launched different solutions to cater to specific business areas. High demand for automation in various industries is anticipated to trigger market growth over the forecast period.
Digital Twin Market Report Highlights:
- In terms of solution, the process segment is anticipated to grow at the fastest CAGR of 36.2% from 2025 to 2030. The digital twin technique can be applied to several tasks, including tracking device performance, anticipating maintenance needs, and identifying potential issues, all of which will contribute to the segment's growth
- The cloud-based deployment segment is expected to register the significant CAGR from 2024 to 2030. Cloud-based systems lower maintenance costs and installation expenses for physical equipment, giving businesses greater flexibility and cost-effectiveness
- The small and medium enterprises segment is expected to register the significant CAGR from 2025 to 2030. SMEs are increasingly using digital twin technologies to reduce expenses associated with product development and to easily access reasonably priced solutions
- The product design & development segment dominated the market and accounted for a revenue share of nearly 38.0% in 2024, owing to the increasing demand for faster innovation cycles, enhanced product customization, and reduced time-to-market.
- Automotive & transport dominated the market and accounted for a revenue share of over 21.0% in 2024. The automotive and transport industries use digital twin solutions to maximize vehicle performance while reducing maintenance costs and downtime
- Asia Pacific is expected to register the highest CAGR from 2025 to 2030. The market is growing due to the substantial entry of international competitors, use of digital twin technologies in the industrial sector, and the spread of cloud platforms
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Methodology segmentation & scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Digital Twin Variables, Trends & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.4. Digital Twin Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Digital Twin Market: Solution Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Digital Twin: Solution Movement Analysis, 2024 & 2030 (USD Billion)
- 4.3. Component
- 4.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Process
- 4.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. System
- 4.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Digital Twin Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Digital Twin: Deployment Movement Analysis, 2024 & 2030 (USD Billion)
- 5.3. Cloud
- 5.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. On-premise
- 5.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Digital Twin Market: Enterprise Size Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Digital Twin: Enterprise Size Movement Analysis, 2024 & 2030 (USD Billion)
- 6.3. Large Enterprises
- 6.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Small and Medium Enterprises (SMEs)
- 6.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Digital Twin Market: Application Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Digital Twin: Application Movement Analysis, 2024 & 2030 (USD Billion)
- 7.3. Product Design & Development
- 7.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4. Predictive Maintenance
- 7.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Business Optimization
- 7.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6. Others
- 7.6.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Digital Twin Market: End Use Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Digital Twin: End Use Movement Analysis, 2024 & 2030 (USD Billion)
- 8.3. Manufacturing
- 8.3.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4. Agriculture
- 8.4.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5. Automotive & Transport
- 8.5.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6. Energy & Utilities
- 8.6.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.7. Healthcare & Life Sciences
- 8.7.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.8. Residential & Commercial
- 8.8.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.9. Retail & Consumer Goods
- 8.9.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.10. Aerospace
- 8.10.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.11. Telecommunication
- 8.11.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.12. Others
- 8.12.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 9. Digital Twin Market: Regional Estimates & Trend Analysis
- 9.1. Digital Twin Share, By Region, 2024 & 2030 (USD Billion)
- 9.2. North America
- 9.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.2.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.2.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.2.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.2.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.2.7. U.S.
- 9.2.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.7.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.2.7.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.2.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.2.7.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.2.7.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.2.8. Canada
- 9.2.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.8.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.2.8.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.2.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.2.8.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.2.8.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.2.9. Mexico
- 9.2.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.9.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.2.9.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.2.9.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.2.9.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.2.9.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.3. Europe
- 9.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.3.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.3.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.3.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.3.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.3.7. UK
- 9.3.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.7.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.3.7.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.3.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.3.7.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.3.7.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.3.8. Germany
- 9.3.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.8.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.3.8.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.3.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.3.8.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.3.8.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.3.9. France
- 9.3.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.9.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.3.9.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.3.9.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.3.9.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.3.9.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.4. Asia Pacific
- 9.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.4.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.4.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.4.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.4.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.4.7. China
- 9.4.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.7.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.4.7.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.4.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.4.7.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.4.7.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.4.8. India
- 9.4.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.8.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.4.8.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.4.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.4.8.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.4.8.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.4.9. Japan
- 9.4.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.9.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.4.9.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.4.9.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.4.9.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.4.9.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.4.10. Australia
- 9.4.10.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.10.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.4.10.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.4.10.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.4.10.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.4.10.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.4.11. South Korea
- 9.4.11.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.11.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.4.11.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.4.11.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.4.11.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.4.11.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.5. Latin America
- 9.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.5.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.5.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.5.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.5.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.5.7. Brazil
- 9.5.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.7.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.5.7.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.5.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.5.7.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.5.7.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.6. Middle East & Africa
- 9.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.6.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.6.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.6.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.6.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.6.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.6.7. Saudi Arabia
- 9.6.7.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.6.7.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.6.7.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.6.7.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.6.7.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.6.7.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.6.8. UAE
- 9.6.8.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.6.8.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.6.8.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.6.8.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.6.8.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.6.8.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
- 9.6.9. South Africa
- 9.6.9.1. Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.6.9.2. Market estimates and forecast by solutions, 2018 - 2030 (USD Billion)
- 9.6.9.3. Market estimates and forecast by deployment, 2018 - 2030 (USD Billion)
- 9.6.9.4. Market estimates and forecast by enterprise size, 2018 - 2030 (USD Billion)
- 9.6.9.5. Market estimates and forecast by application, 2018 - 2030 (USD Billion)
- 9.6.9.6. Market estimates and forecast by end use, 2018 - 2030 (USD Billion)
Chapter 10. Competitive Landscape
- 10.1. Recent Developments & Impact Analysis by Key Market Participants
- 10.2. Company Categorization
- 10.3. Company Market Share Analysis
- 10.4. Company Heat Map Analysis
- 10.5. Strategy Mapping
- 10.5.1. Expansion
- 10.5.2. Mergers & Acquisition
- 10.5.3. Partnerships & Collaborations
- 10.5.4. New Product Launches
- 10.5.5. Research And Development
- 10.6. Company Profiles
- 10.6.1. ABB
- 10.6.1.1. Participant's Overview
- 10.6.1.2. Financial Performance
- 10.6.1.3. Product Benchmarking
- 10.6.1.4. Recent Developments
- 10.6.2. Amazon Web Enterprise size, Inc.
- 10.6.2.1. Participant's Overview
- 10.6.2.2. Financial Performance
- 10.6.2.3. Product Benchmarking
- 10.6.2.4. Recent Developments
- 10.6.3. ANSYS, Inc.
- 10.6.3.1. Participant's Overview
- 10.6.3.2. Financial Performance
- 10.6.3.3. Product Benchmarking
- 10.6.3.4. Recent Developments
- 10.6.4. Autodesk Inc.
- 10.6.4.1. Participant's Overview
- 10.6.4.2. Financial Performance
- 10.6.4.3. Product Benchmarking
- 10.6.4.4. Recent Developments
- 10.6.5. AVEVA Group Limited
- 10.6.5.1. Participant's Overview
- 10.6.5.2. Financial Performance
- 10.6.5.3. Product Benchmarking
- 10.6.5.4. Recent Developments
- 10.6.6. Bentley Systems, Incorporated
- 10.6.6.1. Participant's Overview
- 10.6.6.2. Financial Performance
- 10.6.6.3. Product Benchmarking
- 10.6.6.4. Recent Developments
- 10.6.7. Dassault Systemes
- 10.6.7.1. Participant's Overview
- 10.6.7.2. Financial Performance
- 10.6.7.3. Product Benchmarking
- 10.6.7.4. Recent Developments
- 10.6.8. General Electric Company
- 10.6.8.1. Participant's Overview
- 10.6.8.2. Financial Performance
- 10.6.8.3. Product Benchmarking
- 10.6.8.4. Recent Developments
- 10.6.9. Hexagon AB
- 10.6.9.1. Participant's Overview
- 10.6.9.2. Financial Performance
- 10.6.9.3. Product Benchmarking
- 10.6.9.4. Recent Developments
- 10.6.10. IBM Corporation
- 10.6.10.1. Participant's Overview
- 10.6.10.2. Financial Performance
- 10.6.10.3. Product Benchmarking
- 10.6.10.4. Recent Developments
- 10.6.11. Microsoft
- 10.6.11.1. Participant's Overview
- 10.6.11.2. Financial Performance
- 10.6.11.3. Product Benchmarking
- 10.6.11.4. Recent Developments
- 10.6.12. PTC
- 10.6.12.1. Participant's Overview
- 10.6.12.2. Financial Performance
- 10.6.12.3. Product Benchmarking
- 10.6.12.4. Recent Developments
- 10.6.13. Robert Bosch GmbH
- 10.6.13.1. Participant's Overview
- 10.6.13.2. Financial Performance
- 10.6.13.3. Product Benchmarking
- 10.6.13.4. Recent Developments
- 10.6.14. Rockwell Automation
- 10.6.14.1. Participant's Overview
- 10.6.14.2. Financial Performance
- 10.6.14.3. Product Benchmarking
- 10.6.14.4. Recent Developments
- 10.6.15. SAP
- 10.6.15.1. Participant's Overview
- 10.6.15.2. Financial Performance
- 10.6.15.3. Product Benchmarking
- 10.6.15.4. Recent Developments
- 10.6.16. Siemens
- 10.6.16.1. Participant's Overview
- 10.6.16.2. Financial Performance
- 10.6.16.3. Product Benchmarking
- 10.6.16.4. Recent Developments