Global Digital Twins Market Report 2021-2026 - Over 95% of Vendors Recognize the Need for IIoT APIs and Platform Integration with Digital Twinning Functionality

Dublin, April 21, 2021 (GLOBE NEWSWIRE) -- The "Digital Twins Market by Technology, Twinning Type, Cyber-to-Physical Solutions, Use Cases and Applications in Industry Verticals 2021 - 2026" report has been added to's offering.

This report evaluates digital twinning technology, solutions, use cases, and leading company efforts in terms of R&D and early deployments. The report assesses the digital twin product and service ecosystem including application development and operations. This includes consideration of use cases by industry vertical.

The report also analyzes technologies supporting and benefiting from digital twinning. The report also provides detailed forecasts covering digital twinning solutions in many market segments and use cases including manufacturing simulations, predictive analytics, and more from 2021 to 2026 with global, regional, and major country forecasts.

Select Report Findings:

  • Digital twin supported solutions in smart cities will reach $3.77 billion by 2026
  • Up to 91% of all IoT Platforms will contain some form of digital twinning capability by 2026
  • Digital twinning will become standard feature/functionality for IoT Application Enablement by 2028
  • Leading digit twin solutions involve Asset Twinning, Component Twinning, System Twinning, Process and Workflow Twinning
  • Over 95% of vendors recognize the need for IIoT APIs and platform integration with digital twinning functionality for industrial verticals
  • Over 40% of executives across a broad spectrum of industry verticals understand the benefits of digital twinning and 57% of them plan to incorporate within their operations by 2028

The digital twin of a physical asset can provide data about its status such as its physical state and disposition. Conversely, a digital object may be used to manipulate and control a real-world asset by way of teleoperation. The publisher of this report sees this form of cyber-physical connectivity, signaling, and control as a key capability to realize the vision for Industry 4.0 to fully digitize production, servitization, and the "as a service" model for products.

The implementation of digital twins will also enable distributed remote control of assets, which will place an increasingly heavy burden on IoT Identity management, authentication, and authorization. IoT authentication market solutions are also important in support of the "things" involved in IoT, which vary from devices used to detect, actuate, signal, engage, and more. This will become particularly important with respect to digital twin solution integration.

As reflected by the Digital Twin Consortium, we see some of the key industries to lead cyber-to-physical integration and solutions include aerospace, healthcare, manufacturing, military, natural resources, and public safety sectors. In terms of integrating digital twin technology and solutions with telecommunications and enterprise infrastructure, we see a need for careful planning from a systems integration, testing, and implementation perspective. This will be especially important in the case of mission-critical applications.

Report Benefits:

  • Digital twin solution forecasts 2021 - 2026
  • Understand the different types of digital twinning
  • Identify market challenges and opportunities for digital twinning
  • Understand the role of virtual twinning in development, simulations, and PLM
  • Understand how virtual objects (software programs) function as an abstract of real-world things
  • Understand how virtual reality will support digital twinning and vice versa for advanced simulations and control

Key Topics Covered:

1.0 Executive Summary

2.0 Introduction
2.1 Overview
2.1.1 Understanding Digital Twinning
2.1.2 Cognitive Digital Twining
2.1.3 Digital Thread
2.1.4 Convergence of Sensors and Simulations
2.1.5 IoT APIs
2.1.6 Software Modules and Elements
2.1.7 Types of Digital Twinning
2.1.8 Digital Twinning Work Processes
2.1.9 Role and Importance of Digital Twinning
2.2 Related Technologies and Impact on Digital Twinning
2.2.1 Industrial Internet and Industry 4.0
2.2.2 Pairing Technology
2.2.3 Cyber-to-Physical Systems
2.2.4 AR, VR, and Mixed Reality
2.2.5 Artificial Intelligence and Machine Learning
2.2.6 Additive Manufacturing and 3D Printing
2.3 Potential Application and Outcome Analysis
2.3.1 Maintenance, Repair and Overhaul Operation
2.3.2 Digital Avatar of Consumer Assets
2.3.3 Performance/Service Monitoring
2.3.4 Inspection and Repairs
2.3.5 Predictive Maintenance
2.3.6 Product Design & Development
2.3.7 Composite Assembling/Manufacturing
2.3.8 Potential Business Outcomes
2.4 Digital Twinning Service Ecosystem
2.4.1 Industrial IoT
2.4.2 Consumer IoT
2.4.3 Industry Development
2.4.4 Digital Twinning as a Service

3.0 Digital Twins Company Assessment

4.0 Digital Twins Market Analysis and Forecasts 2021 to 2026
4.1 Global Digital Twins 2021 - 2026
4.2 Digital Twins Market by Type of Twinning 2021 - 2026
4.3 Digital Twins Applications 2021 - 2026
4.4 Digital Twins by Industry 2021 - 2026
4.5 Digital Twins by Region 2021 - 2026

5.0 Conclusions and Recommendations

Companies Mentioned

  • ABB
  • Allerin Tech Pvt. Ltd.
  • Altair Engineering, Inc.
  • Amazon Web Services
  • Aucotec AG
  • Autodesk Inc.
  • Bentley Systems, Incorporated
  • Cisco Systems
  • Cityzenith
  • CoSMo Company SAS
  • Dassault Systems
  • Digital Twin Consortium
  • Digital Twin Technologies
  • DNV GL
  • DXC Technology
  • Eclipse Foundation
  • Emerson
  • Emesent
  • Faststream Technologies
  • Flowserve
  • Forward Networks
  • General Electric
  • Google
  • Hitachi Ltd.
  • Honeywell
  • HP
  • IBM
  • Industrial Internet Consortium
  • Intellias
  • Invicara
  • KBMax
  • Lanner Electronics
  • Microsoft
  • National Instruments
  • NavVis
  • Oracle
  • PETRA Data Science
  • Physical Web
  • Pratiti Technologies
  • Prodea System Inc.,
  • PTC
  • QiO Technologies
  • Robert Bosch (Germany)
  • SAP
  • Schneider
  • SenSat
  • Siemens
  • Sight Machine Inc.
  • Simplifa GmbH
  • Softweb Solutions Inc.
  • Sogeti Group
  • SWIM.AI (US).
  • Synavision
  • Sysmex Corporation
  • TIBCO Software
  • Toshiba Corporation
  • UrsaLeo
  • Virtalis Limited
  • Visualiz
  • Wipro Limited
  • XenonStack
  • Zest Labs

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