Global Digital Twin Market Projected to Register

New York, USA, Oct. 05, 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global digital twin market is projected to register a revenue of $1,25,717.4 million and grow at 39.48% CAGR in the 2021-2030 analysis timeframe. The extensive report provides a concise layout of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints, and various opportunities during the predicted timeframe of 2021-2030. The report also provides all the market figures to help new participants analyze the market easily.

Dynamics of the Digital Twin Market

Drivers: The increasing integration of the digital twin technology with other advanced technologies like IoT, cloud computing, machine learning, etc. along with the growing demand for this new technology by several industry verticals like manufacturing, construction, automotive, energy & utilities, etc. are the major driving factors for the global digital twin market during the forecast period.

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Opportunities: The rising utilization of digital twin technology especially by the healthcare professionals and scientists during the covid-19 catastrophe to improve care delivery through effective patient monitoring is the major factor to offer ample growth opportunities for the global digital twin market during the forecast years. Additionally, increasing strategic alliances among prominent market players to integrate 3D printing skills with the digital twin technology is also predicted to boost the market development by 2030.

Restraints: Huge initial investments for installation and high maintenance expenditure are the two prime hampering factors for the market growth.

Covid-19 Impact on the Digital Twin Market

The global digital twin market has been positively impacted by the covid-19 pandemic outbreak mostly due to increased…