Global Digital Twin Market Size & Outlook, 2023-2030

The digital twin industry worldwide is expected to reach a projected revenue of US$ 155,839.7 million by 2030. A compound annual growth rate of 37.5% is expected of the worldwide digital twin industry from 2024 to 2030.
Revenue, 2023 (US$M)
$16,754.1
Forecast, 2030 (US$M)
$155,839.7
CAGR, 2024 - 2030
37.5%
Report Coverage
Worldwide

Global digital twin market highlights

  • The global digital twin market generated a revenue of USD 16,754.1 million in 2023 and is expected to reach USD 155,839.7 million by 2030.
  • The market is expected to grow at a CAGR (2024 - 2030) of 37.5% by 2030.
  • In terms of segment, manufacturing accounted for a revenue of USD 2,779.4 million in 2023.
  • Agriculture is the most lucrative end-use segment registering the fastest growth during the forecast period.
  • In terms of region, North America was the largest revenue generating market in 2023.
  • Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.


Global data book summary

Market revenue in 2023USD 16,754.1 million
Market revenue in 2030USD 155,839.7 million
Growth rate37.5% (CAGR from 2023 to 2030)
Largest segmentManufacturing
Fastest growing segmentAgriculture
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationManufacturing, Agriculture, Automotive & Transport, Energy & Utilities, Healthcare & Life Sciences, Residential & Commercial, Retail & Consumer Goods, Aerospace, Telecommunication


Other key industry trends

  • In terms of revenue, the North America accounted for 35.4% of the global digital twin market in 2023.
  • By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
  • By country, Brazil is the fastest growing regional market and is projected to reach USD 1,636.4 million by 2030.

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Digital Twin Market Scope

Digital twin market segmentation & scope
Manufacturing
Agriculture
Automotive & Transport
Energy & Utilities
Healthcare & Life Sciences
Residential & Commercial
Retail & Consumer Goods
Aerospace
Telecommunication
Others
Component
Process
System
Product Design & Development
Predictive Maintenance
Business Optimization
Others (Inventory Management, Performance Management)
Cloud
On-premise
Large Enterprise
Small and Medium Enterprises (SMEs)

Digital Twin Market Companies

Name Profile # Employees HQ Website

Global digital twin market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to digital twin market will help companies and investors design strategic landscapes.


Manufacturing was the largest segment with a revenue share of 16.59% in 2023. Horizon Databook has segmented the Global digital twin market based on manufacturing, agriculture, automotive & transport, energy & utilities, healthcare & life sciences, residential & commercial, retail & consumer goods, aerospace, telecommunication covering the revenue growth of each sub-segment from 2018 to 2030.


Innovation, global competition, and technological advances can be considered the key driving factors responsible for the expansion and growth of the digital twin market. The digital twin has provided businesses with additional means to effectively cut costs and augment profits.


Advantages associated with process automation, cloud computing, and social media, among others, encourage businesses to opt for digital twins and further boost the efficiency of their processes.

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Horizon Databook provides a detailed overview of global-level data and insights on the Global digital twin market , including forecasts for subscribers. This global databook contains high-level insights into Global digital twin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Global digital twin market size, by regions, 2018-2030 (US$M)

Top 10 countries: Digital twin market size, 2023 (US$M)

Global digital twin market share, by end-use, 2023 & 2030 (%, US$M)

Digital twin market: Opportunity assessment by country

Global digital twin market, by region, 2023 (US$M)

Global digital twin market size, by regions, 2018-2030 (US$M)

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