The insights for the Europe Digital Twin Market are estimated to grow in a significant way over the forecast period. It is estimated that the target market in this region is going to grow at a CAGR of 1.23%.
A digital twin, a replica of living or non-living physical entity, refers to a digital model of potential and actual physical assets, processes, people, places, systems and devices that can be used for various purposes.
The digital twin technology comprises two crucial features, namely the connection between the physical model and the corresponding virtual model, and the connection is established by generating real-time data using sensors. The concept of the digital twin is almost similar to other concepts like cross-reality environments or co-spaces and mirror models, which mainly aims to synchronize part of the physical world with its cyber representation.
The growth of the Europe digital twin market is attributed to the rising adoption of the IoT and IIoT, which are because of increasing internet penetration along with the proliferation of smartphones in the European region. Also, the growing demand for decreasing asset downtime, optimizing process time, and improving operational efficiency is boosting the growth of the target market in this region.
Microsoft Corp. and WalkMe have announced their strategic partnership to enable enterprise organizations to quickly deploy the WalkMe's Digital Adoption Platform on top of Microsoft Dynamics 365. This is estimated to offer their employees the power to utilize technology in an efficient and productive manner.
Wipro Limited has partnered with Skybox, which is a computer security company, to improve and unify its organization security management in convergent, hybrid IT-OT networks.
The support of government initiatives regarding the construction of smart cities and energy-efficient intelligent buildings in nations like Germany, UK, France, and others are the key drivers of the Europe Digital Twin Market.
And the presence of the finest automobile manufacturers in European countries like Germany and Italy is immensely contributing to the target market in Europe, which is likely to expand in a significant way over the foreseen period.
Market Segmentation of Europe Digital Twin Market with evaluated size and forecast until 2025.
By Technology: IoT & IIoT, Blockchain, Artificial Intelligence & Machine Learning, Augmented Reality, Virtual Reality, & Mixed Reality, Big Data Analytics, and 5G.
By Type: Product Digital Twin, Process Digital Twin, and System Digital Twin.
By Industry: Aerospace & Defense, Automotive & Transportation, Home & Commercial, Healthcare, Energy & Utilities, Oil & Gas, and Others.
By Region: UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe. In the regional analysis of the Europe Digital Twin Market, Germany and Italy are the majorly contributing countries in the market's revenue. The growth of the digital twin market in these countries is due to the presence of the major automobile manufacturers and the robust automotive industry within the area. The increasing adoption of technological advancements also fuels the development in the regional business.
The key players of the Europe Digital Twin Market include Accenture plc, Capgemini SE, IBM Corporation, Infosys Limited, Microsoft Corporation, Oracle Corporation, PTC Inc., SAP SE, SAS Institute, TIBCO Software Inc., Wipro Limited, ABB Group, Ansys Inc., Autodesk, Inc., AVEVA Group plc, Bentley Systems, Incorporated, Dassault Systèmes, General Electric Company, Robert Bosch GmbH, Rockwell Automation, Schneider Electric SE, Siemens AG.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By End - Industry
5.1.2 Aerospace & Defense
5.1.3 Energy & Utilities
5.1.4 Home & Commercial
5.1.5 Automotive & Transportation
5.1.7 Oil & Gas
5.1.8 Y-o-Y Growth Analysis
5.1.9 Market Attractiveness Analysis
5.1.10 Market Share Analysis
5.2 By Type
5.2.5 Y-o-Y Growth Analysis
5.2.6 Market Attractiveness Analysis
5.2.7 Market Share Analysis
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By End-Industry
22.214.171.124 By Type
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By End-Industry
184.108.40.206 By Type
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By End-Industry
22.214.171.124 By Type
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 ABB Group
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 PTC, Inc.
8.3 AVEVA Group plc
8.4 Schneider Electric SE
8.5 Hexagon Geosystems AG
8.6 Dassault Systemes
8.7 SAP SE
8.8 Siemens AG
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, Collaborations, and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
The segment-level analysis in terms of By Type, By End-use industry, and along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Europe Digital Twin Market By Region, From 2019-2024 ( USD Billion )
Europe Digital Twin Market By End Industry, From 2019-2024 ( USD Billion )
Europe Aerospace & Defence Market By Region, From 2019-2024 ( USD Billion )
Europe Energy & Utilities Market By Region, From 2019-2024 ( USD Billion )
Europe Home and Commercial Market By Region, From 2019-2024 ( USD Billion )
Europe Healthcare Market By Region, From 2019-2024 ( USD Billion )
Europe Oil & Gas Market By Region, From 2019-2024 ( USD Billion )
Europe Digital Twin Market By Type, From 2019-2024 ( USD Billion )
Europe Process Market By Region, From 2019-2024 ( USD Billion )
Europe System Market By Region, From 2019-2024 ( USD Billion )
Europe Product Market By Region, From 2019-2024 ( USD Billion )