Digital Twin Market to Grow by USD 114.1 Billion from 2024-2028, Driven by Industry 4.0 and IoT, Report on Market Evolution Powered by AI – Technavio | PR Newswire [Video]

, /PRNewswire/ — Report on how AI is driving market transformation – The global digital twin market size is estimated to grow by USD 114.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  64.1%  during the forecast period. Industry 4.0 and industrial iot is driving market growth, with a trend towards increasing traction in healthcare sector. However, high cost of deployment and complex architecture of digital twin  poses a challenge.Key market players include ANSYS Inc., Dassault Systemes SE, DNV Group AS, General Electric Co., Hexagon AB, Honeywell International Inc., International Business Machines Corp., Johnson Controls International Plc., Kongsberg Gruppen ASA, Microsoft Corp., Oracle Corp., PTC Inc., Robert Bosch GmbH, SAP SE, ScaleOut Software Inc., Siemens AG, Software AG, SWIM Inc., Veerum Inc., and Wipro Ltd..

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Market Driver

The Digital Twin market is experiencing significant growth as …