Increasing demand for digital twin from the healthcare industry; and growing focus on predictive maintenance further drives the growth of digital twin market.


Global Digital twin market report share is projected to reach USD 73.5 billion by 2027 at a CAGR of 60.6% during the forecast period.


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Impact in healthcare industry:


In October 2021, Dell (US) partnered with the i2b2 tranSMART Foundation (US), an open-source open-date community for enabling collaboration for precision medicine, to create privacy-preserving digital twins to treat the long-haul symptoms of COVID-19 patients. The study aims to enhance care for the 5% of COVID-19 patients who experience chronic health problems.


North America is one the early adopters of digital twin technology and most of the digital twin providers are located in the North American region, including Microsoft (US), IBM (US), Amazon (ASW) (US), and General Electric (US). National Aeronautics and Space Administration (NASA) was the early adopter of digital twin in North America. The region is concentrated with aerospace companies such as Bell Flight (US), Bye Aerospace (US), Lockheed Martin (US), and Boeing (US) who constantly invest in digital twin technology and carry out huge R&D with the technology to optimize their production and reduce the downtime and operational cost.


The presence of major digital twin providers in the region such as General Electric (US), Bentley Systems (US), IBM (US), Emerson (US), Microsoft (US), ANSYS (US), Amazon Web Services (US), Altair (US), and Oracle (US) also raises the demand and awareness regarding digital twin solutions. These vendors are investing significantly in the market.