The global digital twins market is projected to grow at a CAGR of 30% till 2035, claims Roots Analysis

3
health-fitness

Summary

Given the potential of digital twins to replicate the physical world in a digital layout, as well as their ability to provide real-time outputs, while gathering constant inputs from the real-world, such products have generated significant interest within the healthcare domain

Press Release

Amazon Music Disney Promo

Roots Analysis has announced the addition of “Digital Twins Market, 2022-2035” report to its list of offerings.

 Since the first application of the digital twin concept for manufacturing in 2002, it has emerged as a crucial component for companies to achieve higher efficiency in their production processes. According to the US-based Digital Twin Consortium, digital twins hold the potential to reduce clinical trial expenditure, turnaround times, staffing expenses and plan medical intervention. Digital twin technology companies are currently engaged in the development of products which are intended for numerous applications, such as asset / process management, personalized treatment and surgical planning.

To request a sample copy / brochure of this report, please visit this https://www.rootsanalysis.com/reports/digital-twins-market/request-sample.html

 

Key Market Insights

 

Over 35 digital twins are presently available in this market space

More than 60% of the digital twins offered by industry players are body part twins; these products are primarily intended for asset / process management, personalized treatment and surgical planning. Further, majority of the products that are currently under development are focused on the treatment of indications, such as cardiovascular disorders, metabolic disorders, and neurological disorders.

 

More than 30 players currently claim to be engaged in the digital twin domain

Majority of the players engaged in this industry are small firms (11-50 employees, 37%), followed by very large players (10,000+ employees, 22%), large players (501-10,000 employees, 19%), mid-sized players (51-500 employees, 13%) and very small companies (2-10 employees, 9%). Additionally, nearly 70% of the developers are based in Europe, followed by those based in North America (28%).

 

Partnership activity for digital twins witnessed a CAGR of over 15%, in the past three years

More than 50% of the partnerships have been signed since January 2020; of these, four partnerships were inked in the year 2022. Technology integration agreements have emerged as the most popular (30%) type of partnership model in the market, followed by technology utilization agreements (23%).

 

Nearly USD 6 billion invested across the globe to advance digital twins focused initiatives

A steady increase has been observed in funding activity since 2020, with the maximum number of instances (10) being reported in the year 2021. In fact, more than 90% of the total investment (in terms of the amount invested) was made in the last two years alone (2021- 2022). Of the amount raised in 2022, about USD 4.2 billion was contributed by the IPO of Babylon.

 

For additional details, please visit https://www.rootsanalysis.com/reports/digital-twins-market.html or email [email protected]