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Asia Pacific Digital Twin Market Size, Share & Trends Analysis Report By Type (System, Process and Product), By Application, By Industry, By Country and Growth Forecast, 2023 - 2030

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    Report

  • 167 Pages
  • March 2024
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5345503
The Asia Pacific Digital Twin Market would witness market growth of 42.3% CAGR during the forecast period (2023-2030).

The China market dominated the Asia Pacific Digital Twin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15,937.9 million by 2030. The Japan market is exhibiting a CAGR of 41.4% during (2023 - 2030). Additionally, The India market would experience a CAGR of 43.3% during (2023 - 2030).



Automotive companies are simulating and optimizing vehicle design, manufacturing, and maintenance with the aid of digital twins. For example, digital twins can simulate a car's performance under different driving conditions, allowing engineers to make design changes to improve fuel efficiency and safety. They can also predict maintenance needs and proactively schedule repairs, reducing downtime and costs for vehicle owners. With the expansion of the industry, the adoption of digital twin technology will increase as well. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of registrations or sales of new passenger cars was 57,485,378 in Q1-Q4 2022. The highest contributor to this number was Asia/Oceania/Middle East with 37,504,121, followed by Europe with 12,640,455.

Additionally, the aerospace and defense industry reported revenues of more than $700 billion in 2022 and over $65 billion in operating profit. According to industry experts, the highest-performing companies in 2022 generally had significant commercial aftermarket exposure. For 2022, the International Air Transport Association (IATA) reports that revenue passenger kilometers (RPKs) reached approximately 70% of pre-pandemic levels and recovered to about 80% by December.

Korea is also investing heavily in technology development, particularly in 3D printing. The Ministry of Science and ICT raised the R&D investment target to $70 million in 2023. This investment is expected to drive innovation and growth in the 3D printing industry, highlighting Korea's commitment to advancing manufacturing technologies. The Asia Pacific region's increasing demand for digital twin technology is fueled by a strong commitment to advancing manufacturing capabilities, fostering innovation, and remaining competitive in the market.

Based on Type, the market is segmented into System, Process and Product. Based on Application, the market is segmented into Predictive Maintenance & Performance Monitoring, Business Optimization, Inventory Management, Product Design & Development and Others. Based on Industry, the market is segmented into Automotive & Transportation, Energy & Utilities, Residential & Commercial, Healthcare & Lifesciences, Agriculture, Manufacturing, Retail & Consumer Goods, Aerospace, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

  • Honeywell International, Inc.
  • SAP SE
  • PTC, Inc.
  • General Electric Company
  • IBM Corporation
  • Oracle Corporation
  • Siemens AG
  • Robert Bosch GmbH
  • Microsoft Corporation
  • ABB Group

Market Report Segmentation

By Type
  • System
  • Process
  • Product
By Application
  • Predictive Maintenance & Performance Monitoring
  • Business Optimization
  • Inventory Management
  • Product Design & Development
  • Others
By Industry
  • Automotive & Transportation
  • Energy & Utilities
  • Residential & Commercial
  • Healthcare & Lifesciences
  • Agriculture
  • Manufacturing
  • Retail & Consumer Goods
  • Aerospace
  • Others
By Country
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Digital Twin Market, by Type
1.4.2 Asia Pacific Digital Twin Market, by Application
1.4.3 Asia Pacific Digital Twin Market, by Industry
1.4.4 Asia Pacific Digital Twin Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.2.4 Geographical Expansion
4.3 Market Share Analysis, 2022
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Feb - 2023, Oct) Leading Players
4.5 Porter’s Five Forces Analysis
Chapter 5. Asia Pacific Digital Twin Market by Type
5.1 Asia Pacific System Market by Country
5.2 Asia Pacific Process Market by Country
5.3 Asia Pacific Product Market by Country
Chapter 6. Asia Pacific Digital Twin Market by Application
6.1 Asia Pacific Predictive Maintenance & Performance Monitoring Market by Country
6.2 Asia Pacific Business Optimization Market by Country
6.3 Asia Pacific Inventory Management Market by Country
6.4 Asia Pacific Product Design & Development Market by Country
6.5 Asia Pacific Others Market by Country
Chapter 7. Asia Pacific Digital Twin Market by Industry
7.1 Asia Pacific Automotive & Transportation Market by Country
7.2 Asia Pacific Energy & Utilities Market by Country
7.3 Asia Pacific Residential & Commercial Market by Country
7.4 Asia Pacific Healthcare & Lifesciences Market by Country
7.5 Asia Pacific Agriculture Market by Country
7.6 Asia Pacific Manufacturing Market by Country
7.7 Asia Pacific Retail & Consumer Goods Market by Country
7.8 Asia Pacific Aerospace Market by Country
7.9 Asia Pacific Others Market by Country
Chapter 8. Asia Pacific Digital Twin Market by Country
8.1 China Digital Twin Market
8.1.1 China Digital Twin Market by Type
8.1.2 China Digital Twin Market by Application
8.1.3 China Digital Twin Market by Industry
8.2 Japan Digital Twin Market
8.2.1 Japan Digital Twin Market by Type
8.2.2 Japan Digital Twin Market by Application
8.2.3 Japan Digital Twin Market by Industry
8.3 India Digital Twin Market
8.3.1 India Digital Twin Market by Type
8.3.2 India Digital Twin Market by Application
8.3.3 India Digital Twin Market by Industry
8.4 South Korea Digital Twin Market
8.4.1 South Korea Digital Twin Market by Type
8.4.2 South Korea Digital Twin Market by Application
8.4.3 South Korea Digital Twin Market by Industry
8.5 Singapore Digital Twin Market
8.5.1 Singapore Digital Twin Market by Type
8.5.2 Singapore Digital Twin Market by Application
8.5.3 Singapore Digital Twin Market by Industry
8.6 Malaysia Digital Twin Market
8.6.1 Malaysia Digital Twin Market by Type
8.6.2 Malaysia Digital Twin Market by Application
8.6.3 Malaysia Digital Twin Market by Industry
8.7 Rest of Asia Pacific Digital Twin Market
8.7.1 Rest of Asia Pacific Digital Twin Market by Type
8.7.2 Rest of Asia Pacific Digital Twin Market by Application
8.7.3 Rest of Asia Pacific Digital Twin Market by Industry
Chapter 9. Company Profiles
9.1 Honeywell International, Inc.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 SAP SE
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.6 SWOT Analysis
9.3 PTC, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent strategies and developments:
9.3.5.1 Partnerships, Collaborations, and Agreements:
9.3.5.2 Product Launches and Product Expansions:
9.3.5.3 Acquisition and Mergers:
9.3.6 SWOT Analysis
9.4 General Electric Company
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.5.2 Product Launches and Product Expansions:
9.4.6 SWOT Analysis
9.5 IBM Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Regional & Segmental Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.6 SWOT Analysis
9.6 Oracle Corporation
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Partnerships, Collaborations, and Agreements:
9.6.6 SWOT Analysis
9.7 Siemens AG
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expense
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.5.2 Product Launches and Product Expansions:
9.7.5.3 Acquisition and Mergers:
9.7.6 SWOT Analysis
9.8 Robert Bosch GmbH
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expense
9.8.5 Recent strategies and developments:
9.8.5.1 Product Launches and Product Expansions:
9.8.5.2 Geographical Expansions:
9.8.6 SWOT Analysis
9.9 Microsoft Corporation
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expenses
9.9.5 Recent strategies and developments:
9.9.5.1 Partnerships, Collaborations, and Agreements:
9.9.5.2 Product Launches and Product Expansions:
9.9.6 SWOT Analysis
9.10. ABB Group
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Research & Development Expense
9.10.5 Recent strategies and developments:
9.10.5.1 Partnerships, Collaborations, and Agreements:
9.10.5.2 Product Launches and Product Expansions:
9.10.6 SWOT Analysis

Companies Mentioned

  • Honeywell International, Inc.
  • SAP SE
  • PTC, Inc.
  • General Electric Company
  • IBM Corporation
  • Oracle Corporation
  • Siemens AG
  • Robert Bosch GmbH
  • Microsoft Corporation
  • ABB Group

Methodology

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