Market Size And Forecast: Digital Twins For Industrial Facilities 2020 - 2040
Sebastian Winter
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Executive Summary
This report provides detailed analysis of the current market size and prospects of the digital twins for industrial facilities market. The analysis provides executives at digital twin solution providers, practice managers in systems integration services firms, and financial investors, with market data to inform business planning and strategy. Based on a bottom-up analysis of 196 vendors alongside survey data of 284 corporate decision-makers, Verdantix finds that the digital twins for industrial facilities market received $787 million of spend in 2020 and will grow to $27.6 billion in 2040. To take advantage of this opportunity vendors need to promote oil and gas client success stories, build lightweight offerings for the manufacturing segment, target the infrastructure segment, and develop productized offerings and new revenue models targeted at other asset classes.Forecasting The Digital Twins For Industrial Facilities Market
The 2020 Digital Twins For Industrial Facilities Market Reflects Spending From Multiple Categories
The Digital Twins For Industrial Facilities Market Is Worth $787 Million In 2020
The Digital Twin For Industrial Facilities Market Will Boom Over The Next 20 Years
Technology Adoption Algorithms Provide The Framework For The Digital Twin Market Forecast
Operational Excellence Initiatives Will Drive Growth For Industrial Facility Digital Twins
In 2040 The Global Market For Industrial Facility Digital Twins Will Reach $27.6 Billion
Vendors Must Evolve Their Offerings To Match Customer Needs
Figure 2. 2020 Digital Twins For Industrial Facilities Market By Industry ($ Million)
Figure 3. Digital Twins For Industrial Facilities Forecast And CAGR 2020—2025
Figure 4. Digital Twins For Industrial Facilities Forecast By Industry 2020—2025
About the Authors
Sebastian Winter
Industry Analyst
Sebastian is an Industry Analyst in the Verdantix Operational Excellence practice. His research agenda covers digital twins for industrial facilities, asset management softwar...
Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef...
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