P&S Intelligence published a new research report, titled, “Digital Twin Market: Global Industry Analysis and Forecast till 2030, the biggest trend currently being witnessed in the digital twin market is the rising usage of a common platform for device simulation. For instance, companies dealing with multiple jet engines are utilizing a common platform for digital clones, creating a separate twin for each engine. This technique is helping these companies in collecting data from all the systems at one place, in order to improve manufacturing analytics.
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This method allows the study and analysis of similar patterns and trends more efficiently and quickly, which further helps the companies derive important insights that can aid them in their growth. Globally, North America recorded the highest adoption of the digital twin technology during the historical period. This is primarily attributed to the presence of advanced information technology (IT) infrastructure and digital twin software providers, huge technological improvements, and early adoption of industry 4.0 standards in the region.
The Asia-Pacific (APAC) region is expected to witness the fastest growth in the utilization of the technology in the years to come, owing to economic growth, soaring IT investments, and increasing government support aimed at the integration of IoT and IT in the industrial sector in the region. Thus, it can be undoubtedly said that owing to the rising adoption of IoT in numerous industries and burgeoning need for intelligent maintenance methods, the demand for digital twin will observe huge growth in the coming years.
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This market research report provides a comprehensive overview of the digital twin market
- Historical and the present size of the digital twin market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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