Use our mobile site at: m.ITbriefing.net    Follow ITbriefing.net: Follow ITbriefing on Twitter   Follow ITbriefing via Facebook   Follow ITbriefing via RSS 
Digital Twin Market - Industrial Internet Revolution to Boost Growth | Technavio


 Tags:   Internet & business IT                This was published: 13 Jan 2018 - 03:46 pm         Print article: Printer friendly page
          

Digital Twin Market - Industrial Internet Revolution to Boost Growth | Technavio - on DefenceBriefing.net

The global digital twin market is expected to grow at a CAGR of close to 33% during the period 2017-2021, according to a new market research study by Technavio.



This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180113005020/en/

Technavio has published a new market research report on the global digital twin market 2017-2021 und ...

Technavio has published a new market research report on the global digital twin market 2017-2021 under their ICT library. (Graphic: Business Wire)

The report categorizes the global digital twin market by deployment (on-premises and cloud-based) and by end-user (aerospace, automotive, energy, home automation, and manufacturing). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Market driver: developments in sensor technologies and communication devices

Innovations in science and engineering along with advances in technology related to sensors have led to the development of different types of sensors. As these sensors have various advantages such as low power consumption and prices, there is an increase in the demand for these sensors. IT has become an integral part of industrial automation because of the automation of several industrial processes. Opportunities for IT players will be significant as industries embrace the internet of things (IoT).

According to Amrita Choudhury, a lead analyst at Technavio for IT security research, “Sensors help in achieving enterprise mobility, remote monitoring, and remote controlling of systems in an industrial setup. This paves the way for significant cost savings and therefore, increases revenues. As a result, more industries across the globe have embraced different types of sensors and hence, enabled IoT to become a viable possibility.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: industrial internet revolution

Industrial Internet of Things (IIoT) is a combination of big data analytics and IoT. It provides huge opportunities to organizations across sectors such as agriculture, healthcare, manufacturing, mining, oil and gas, and transportation. Currently, these sectors account for 60% of the global economy. Industrial Internet has created new job opportunities and a shift toward the integration of digital and human workforces. IIoT is in an early stage and is poised for tremendous growth. The increase in the number of sensors shipped has fueled the global IIoT market. Large companies and governments have taken initiatives to support industrial Internet.

Market challenge: interoperability issues among existing systems

Interoperability issues among existing systems increase the complexity and cost of industrial internet deployments. The existing operational technology systems lack the integrational capability and work in isolation. However, there is a need for a fully functional digital workflow that requires effective data sharing between machines and other systems from varied manufacturers.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Some of the vendors in the market

  • Siemens
  • General Electric
  • PTC
  • Microsoft

The global digital twin market is in early developmental stages and is expected to grow at an exponential rate. The market is dominated by some large vendors however, the competitive environment is expected to further intensify with the entry of many new vendors, innovations in technology, and forging of partnerships. There is no single vendor with the capabilities to offer end-to-end digital twin solutions in the market.

Get a sample copy of the global digital twin market report free of cost

Access Technavio’s continuously growing IT security research library and find expert analysis on hundreds of markets.

Article source - Business Wire, all right reserved. Copyright 2018
Trademarks, logos, pictures and other items may be copyright of firms mentioned in this article.



 


Other related articles, tagged Internet & business IT

· A Resilient and Caring City of the Future   (04/25/18)
· Document Management Software Procurement Research – Market Trends and Spend Analysis by SpendEdge   (04/25/18)
· Global GaN RF Devices Market 2018-2022 - GaN-on-Diamond Will be a Key Trend Driving Market Growth - ResearchAndMarkets.com   (04/25/18)
· Cable ONE to Host Conference Call to Discuss First Quarter 2018 Results   (04/25/18)
· Citrix Reports First Quarter 2018 Financial Results   (04/25/18)
· Technology Executive Dennis Woodside Joins ServiceNow Board of Directors; Company Founder Fred Luddy to Become New Board Chair   (04/25/18)
· PayPal Reports First Quarter 2018 Results   (04/25/18)
· Zoom® Telephonics Schedules Conference Call to Discuss First Quarter 2018 Financial Results   (04/25/18)
· AT&T Reports First-Quarter Results   (04/25/18)
· F5 Announces New Application Services Offering for Multi-Cloud Environments   (04/25/18)

>>>More articles  >>>

Latest tech videos:



· ForeSee Brings Government CX Leaders Together For Customer Experience Forum (2018-04-25 16:26)
ForeSee Brings Government CX Leaders Together For Customer Experience Forum - on DefenceBriefing.net

ForeSee, the pioneer of Voice of Customer (VOC) solutions, today announced its annual DC Forum dedicated to the public sector customer experience (CX). The 2018 CX Forum will feature a keynote on the state of CX from Forrester Principal Analyst Rick Parrish and brings together CX experts and champions from public sector organizations and departments. This year’s Forum will take place on June 13, 2018 at the J.W. Marriott in Washington, DC.


· Roku Video Ads Are 67% More Effective Per Exposure Than Linear TV Ads, New Study Finds (2018-04-25 16:26)

Video ads on the Roku OTT platform are 67 percent more effective per exposure at driving purchase intent than ads on broadcast and cable television, according to a new landmark study conducted by MAGNA, IPG Media Lab and Roku Inc. (NASDAQ-NMS: ROKU). Applebee’s, H&M, McCormick and Truvia participated in the research.


· Innovium Closes $77M in Series D Funding to Drive Commercial Volume Ramps and Innovative Product Roadmaps (2018-04-25 16:26)
Innovium Closes $77M in Series D Funding to Drive Commercial Volume Ramps and Innovative Product Roadmaps - on DefenceBriefing.net

Innovium, Inc. a leading provider of networking solutions for data centers, announced $77 Million in Series D funding today. The new round, which brings Innovium’s total financing since inception to over $160M included investment from venture capital firms Greylock Partners, Walden Everbright, Walden Riverwood Ventures, Paxion Capital, Capricorn Investment Group, Redline Capital, S-Cubed Capital and Qualcomm Ventures. The new funding will be used to drive production and ramp of Innovium’s TERALYNX™ 12.8Tbps and 6.4Tbps data-center optimized switch family, along with market expansion and product roadmap innovation.


· ams Introduces Sensor Reference Design for Blood Pressure, Vital Signs for Smart Health and Wearables (2018-04-25 16:26)
ams Introduces Sensor Reference Design for Blood Pressure, Vital Signs for Smart Health and Wearables - on DefenceBriefing.net

ams (SIX: AMS), a leading worldwide supplier of high performance sensor solutions, today announced the release of the first integrated vital sign sensor reference design based on its AS7024. The solution can perform accurate, fast and convenient 24/7 cuffless blood pressure measurement.


· Convergys Schedules Release of First Quarter 2018 Financial Results and Webcast of Investor Conference Call (2018-04-25 16:06)
Convergys Schedules Release of First Quarter 2018 Financial Results and Webcast of Investor Conference Call - on DefenceBriefing.net

Convergys Corporation (NYSE: CVG), a global leader in customer management, plans to announce its first quarter 2018 financial results after market close on Tuesday, May 8th. The Company also plans to webcast a conference call with investors to discuss results on Wednesday, May 9th at 9:00 AM, Eastern Time. The webcast is live and recorded for availability through June 8th via this link: 1Q18 Conference Call.


· Anesthesia Business Consultants to Exhibit and Attend the Advanced Institute for Anesthesia Practice Management 2018 (2018-04-25 15:46)
Anesthesia Business Consultants to Exhibit and Attend the Advanced Institute for Anesthesia Practice Management 2018 - on DefenceBriefing.net

Anesthesia Business Consultants (ABC), a leading provider in billing and practice management for the anesthesia and pain management specialty, is pleased to announce they will be exhibiting and attending the Advanced Institute for Anesthesia Practice Management (AIAPM), being held this weekend, April 28th – April 30th, 2018, at The Cosmopolitan of Las Vegas. Join experts in the field of anesthesia billing and practice management in “Securing the Future for Anesthesia Practices.” The 2018 AIAPM is the only anesthesia conference in the marketplace that focuses on practice management issues with the goal of enlightening attendees on broader group strategy issues, including numerous talks on billing, coding and compliance.


· VRstudios Expands Its Wireless, Multiplayer VR Product Line with New VRcade Atom (2018-04-25 15:26)
VRstudios Expands Its Wireless, Multiplayer VR Product Line with New VRcade Atom - on DefenceBriefing.net

VRstudios®, the leading provider of commercial-grade, wireless virtual reality (VR) turnkey solutions for Location-Based Entertainment (LBE) businesses, announced today the latest addition to its product line, the VRcade Atom™. The Atom sets a new standard for commercial-quality wireless VR systems built exclusively for LBE venues of all sizes. The system is very cost effective, easy to install and efficient to operate. Atoms have a small footprint, and like the other VRcade systems, do not require expensive facility changes or construction. It’s a turnkey system that includes everything an LBE needs to add room-scale, free-roaming, multiplayer VR attractions to their entertainment business.


· MEGA Unveils Enhanced Department of Defense Architecture Framework (DoDAF) Solution at Government Conference (2018-04-25 15:26)
MEGA Unveils Enhanced Department of Defense Architecture Framework (DoDAF) Solution at Government Conference - on DefenceBriefing.net

MEGA International will demo its newly updated DoDAF solution at the Defensive Cyber Operations Symposium hosted by Armed Forces Communications and Electronics Association (AFCEA) from May 15-17 in Baltimore, MD.


· Discovery Insure wins Celent Model Insurer Award in Boston, U.S.A. (2018-04-25 15:26)
Discovery Insure wins Celent Model Insurer Award in Boston, U.S.A. - on DefenceBriefing.net

Today, Discovery Insure’s Vitality drive Smartphone program was recognized with a Celent Model Insure Award in the Innovation and Emerging Technologies category. The awards ceremony was held in Boston and recognized best practice technology usage in various areas critical to success in insurance. Discovery Insure applied for this award with its long-standing technology partner – Cambridge Mobile Telematics (CMT).


· Zynga and BMW Put CSR Racing 2 Players Behind the Wheel of the New BMW M2 Competition (2018-04-25 15:26)

Zynga (NASDAQ-NMS: ZNGA), a leading social game developer, today announced their partnership with BMW for the launch of the new BMW M2 Competition in CSR Racing 2 (CSR2) with elevated AR capabilities and features. Starting today, players can enter the most exclusive drag racing experience on mobile and virtually drive the compact high-performance BMW M2 Competition before it appears on real-world roads.


· Comcast to Increase Internet Speeds for Some Video Customers in Oregon/SW Washington (2018-04-25 15:26)

Comcast today announced it is increasing the speeds of its Xfinity Internet service packages for millions of video and internet customers, including in Oregon and SW Washington.


· Wipro Limited Announces Results for the quarter and year ended March 31, 2018 under IFRS (2018-04-25 15:06)
Wipro Limited Announces Results for the quarter and year ended March 31, 2018 under IFRS - on DefenceBriefing.net

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) today announced financial results under International Financial Reporting Standards (IFRS) for its quarter and year ended March 31, 2018.


· Perfect Sense Announces Three New Leadership Hires (2018-04-25 15:06)
Perfect Sense Announces Three New Leadership Hires - on DefenceBriefing.net

Perfect Sense, Inc., provider of digital content management solutions and services through its platform, Brightspot, today announced it has made three strategic leadership hires to support growth and expansion of its Corporate, International, and Public Sector verticals.


· As Intelligent Customer Care Platforms Experience Rapid Growth, Convergys Introduces Conversational Virtual Assistant Technology to Leading North American Financial Institution (2018-04-25 14:46)
As Intelligent Customer Care Platforms Experience Rapid Growth, Convergys Introduces Conversational Virtual Assistant Technology to Leading North American Financial Institution - on DefenceBriefing.net

Convergys Corporation (NYSE: CVG), a global leader in customer management, recently completed a pilot implementation of a conversational virtual assistant solution at one of North America’s largest financial services companies. This solution resulted in an annual cost savings of $8.5 million, achieved by increasing the number of calls managed by the Interactive Voice Response (IVR) system by more than two million, decreasing misrouted calls by 67 percent, and creating a seamless conversational experience for self-service across all channels.


· Molex, Phoenix Digital Corporation Announce Marketing and Sales Agreement (2018-04-25 14:46)
Molex, Phoenix Digital Corporation Announce Marketing and Sales Agreement - on DefenceBriefing.net

Molex has entered into an agreement with Phoenix Digital Corporation (PDC), a manufacturer of industrial fiber optic communications systems, to market and provide complete and redundant high-availability communication network solutions for industrial automation markets.




© Website copyright Incandore Limited 2012. All rights reserved. All content copyrights / trademarks remain the property of their respective owners.