Market Size And Forecast: Digital Twins For Industrial Facilities 2021-2026 (Global)
Hugo Fuller
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Executive Summary
In this report, Verdantix provides detailed analysis of the current market size and future prospects of the digital twins for industrial facilities applications market. This study finds that the market is worth $5.1 billion in 2021 and will grow to $13.9 billion in 2026, at a CAGR of 18%. Oil and gas, infrastructure and renewable power generation will be leading areas for increased spend. Growth will be driven by firms looking for technology to boost operational efficiency, modernize their approach to remote working and overhaul their efforts to meet sustainability goals. To amplify growth, solutions providers for industrial facility digital twins should (1) evangelize about successful implementations; (2) target the infrastructure segment, as governments ramp up digital twin programmes; and (3) lower the barrier to entry through an ecosystem of partners.The 2021 Digital Twins For Industrial Facilities Market Captures Spending Across Multiple Segments
The Digital Twins For Industrial Facilities Market Is Worth $5.1 Billion In 2021
Internal And External Pressure To Digitize Operations Will Drive Market Expansion
The Digital Twins For Industrial Facilities Market Will Reach $13.9 Billion In 2026
Digital Twin Software Suppliers Can Expand Market Share In Three Ways
Figure 2. 2021 Digital Twins For Industrial Facilities Market Size By Industry
Figure 3. Digital Twins For Industrial Facilities Market Forecast (2021-26)
Figure 4. Digital Twins For Industrial Facilities Market Forecast By Region (2021-26)
Figure 5. Digital Twins For Industrial Facilities Market Forecast By Industry (2021-26)
About the Authors
Hugo Fuller
Senior Analyst
Hugo is a Senior Analyst in the Verdantix Industrial Transformation practice. His current research agenda explores the technologies within the industrial asset management soft...
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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