Digital Twins Market - Forecast (2023 - 2028)

The global Digital Twins Market is estimated to surpass $16.7 billion marks by 2026 growing at an estimated CAGR of more than 24.7% during the forecast period 2021 to 2026. Companies find various use cases to utilize the technology as there will be billions of connected devices in next few years, thereby billions of digital twins can be represented. These digital representations of real devices will lead to new opportunities like remote periodic checkup and maintenance of all devices, new product development based on user preference, service upgrade, safety and better customer experience. To get a competitive advantage, companies look at digital twin as the opportunity to understand the customer needs, improve the existing products or services and to develop new products, thereby enhancing the customer experience. Not just in Smart cities and Factory 4.0, digital twin concept has penetrated health care in telemedicine technology to create personalized solutions to anticipate and prevent disease.



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