Tuesday, 26 December 2017

Global Digital Twin Market expected to see Robust growth of 32% in next three Years

A new research document with title ‘Global Digital Twin Market 2017-2021’covering detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes important players/vendors such as ANSYS, Bosch Software Innovations, and SAP etc The report will help user gain market insights, future trends and growth prospects for forecast period of 2017-2021.
Digital twins integrate technologies such as machine learning, M2M, artificial intelligence (AI), predictive analytics, and sensor telemetry to create digital clones of physical machines and idealized digital simulation models that evolve based on the data collected from real-world instances. Digital twins are digital copies of physical assets including all their modeled characteristics and behaviors. This can also include the effects of aging and repeated usage on a physical object over a period of time. A digital twin is designed by 3D modeling a physical object, which is activated using sensors that have data collected from sensors of the physical object.
“HTF’s analysts forecast the global digital twin market to grow at a CAGR of 32.73% during the period 2017-2021”
HTF recognizes the following companies as the key players in the global digital twin market: General Electric, Microsoft, PTC, and Siemens
Other Prominent Vendors in the market are: Oracle, IBM, ANSYS, Bosch Software Innovations, and SAP.
Commenting on the report, an analyst from HTF’s team said: “The latest trend gaining momentum in the market is Industrial Internet revolution. IIoT is a combination of big data analytics and IoT. It offers huge opportunities to organizations across sectors such as agriculture, healthcare, manufacturing, mining, oil and gas, and transportation. Currently, these sectors account for 60% of the global economy. Industrial Internet has created new job opportunities and a shift toward the integration of digital and human workforces.”
According to the report, one of the major drivers for this market is Developments in sensor technologies and communication devices. Innovations in science and engineering, as well as advances in technology related to sensors, has led to the development of different types of sensors. As these sensors have various advantages such as low power consumption and prices, their demand is increasing. IT has become an integral part of industrial automation because of automation of several industrial processes. Opportunities for IT players will be significant as industries embrace IoT.
Place a Purchase Order For Market Study (Single User License) at:  https://www.htfmarketreport.com/buy-now?format=1&report=852526
Further, the report states that one of the major factors hindering the growth of this market is High costs of implementation. The initial investment in IoT infrastructure is huge. The high cost of deployment and implementation of M2M and IoT can act as a growth inhibitor for some organizations, especially SMEs. IoT implementation takes longer, and most IT projects come with a lengthy project lifetime from system planning to retirement. M2M systems generally have a lifetime of more than 10 years. The setup and building phase alone can take a year or more.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
PART 01: EXECUTIVE
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
• Market outline
PART 05: MARKET LANDSCAPE
• Market ecosystem
• Market characteristics
• Market segmentation analysis
PART 06: MARKET SIZING
• Market definition
• Market sizing 2016
• Market size and forecast 2016-2021
PART 07: FIVE FORCES ANALYSIS
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
PART 08: MARKET SEGMENTATION BY DEPLOYMENT
• Segmentation by deployment
• Comparison by deployment
• On-premises – Market size and forecast 2016-2021
• Cloud-based – Market size and forecast
….Continued

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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