Market Size And Forecast: Digital Twins For Industrial Facilities 2021-2026 (Global)
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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.
Table of contents
Forecasting The Digital Twins For Industrial Facilities MarketThe 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
Table of figures
Figure 1. 2021 Digital Twins For Industrial Facilities Market Size By RegionFigure 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)
Organisations mentioned
A/S Norske Shell, Accenture, Akselos, Alan Turing Institute, Aluminium of Greece, AspenTech, AVEVA, Bentley Systems, Black & Veatch, BP, Buildmedia, Cognite, Commonwealth Scientific and Industrial Research Organisation (CSIRO), Cosmo Oil, Data Gumbo, Emerson, Equinor, Eserv, Fugro, GE Digital, IBM, International Monetary Fund (IMF), Itus Digital, Kongsberg Digital, Neptune Energy, OMV, Organisation for Economic Co-operation and Development (OECD), Siemens, SP Energy Networks, TetraSpar, UK Department for Business, Energy and Industrial Strategy, University of Cambridge, US Food and Drug Administration (FDA), Victoria State Government, Wellington City Council, WoodAbout the authors
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