Global Digital Twin In Manufacturing Market Forecast To Reach $207.87 Billion By 2029 With 63.6% Annual Growth

The Business Research Company's Digital Twin In Manufacturing Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, May 27, 2025 /EINPresswire.com/ -- In recent years, the digital twin in the manufacturing market size has grown exponentially. It's expected to increase from $17.71 billion in 2024 to $29.03 billion in 2025, witnessing a compound annual growth rate CAGR of 63.9%. The growth over the historic period can be ascribed to increasing demand for data-driven manufacturing, greater adoption of 3D printing and internet of things IoT, and a surge in the number of approved biologics.

What's Fueling The Growth Of The Digital Twin In The Manufacturing Market Going Forward?

This exponential growth of the digital twin in manufacturing market size is anticipated to continue into the next few years, reaching an astounding $207.87 billion by 2029 at a CAGR of 63.6%. This forecasted growth can be attributed to numerous factors, including the growing number of biologics-related clinical trials, rising demand for real-time monitoring and predictive maintenance, burgeoning need for process optimization and operational efficiency, and surging investments in industry 4.0 and smart factories.

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What’s Driving The Digital Twin In The Manufacturing Market Growth?

A significant driver expected to propel this digital twin in the manufacturing market growth going forward is the increasing demand for military and defense. Military and defense capabilities, dedicated to safeguarding national security and countering geopolitical threats, are on the rise globally. The benefits and applications that the digital twin technology brings to this sector, such as real-time simulation, testing, and optimization of equipment and logistics, contribute to improved efficiency, cost reduction, and enhanced mission readiness. Indeed, globalization has had a direct impact on global defense spending, which reached USD 2.46 trillion, representing 1.9% of global GDP, up from 1.6% in 2022 and 1.8% in 2023.

What Key Player Strategies Are Digital Twin In The Manufacturing Market?
Major players, such as Amazon.com Inc., Microsoft Corporation, Siemens AG, General Electric Company, IBM Corporation, Cisco Systems Inc., Schneider Electric SE, and Honeywell International Inc., among others, dominate the digital twin in the manufacturing market. These key industry players, along with others, are focusing on innovative applications of digital twin technology, establishing strategic partnerships and collaborations, and upgrading their technology capabilities.

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What Are The Emerging Trends In The Digital Twin In The Manufacturing Market?

Trends in the industry indicate that companies are keen on developing open digital business platforms to enhance interoperability, streamline data integration, and optimize real-time monitoring of manufacturing processes. For instance, Siemens AG, a Germany-based technology solutions company, launched the Siemens Xcelerator, an open digital business platform that fosters collaboration across the manufacturing value chain, fast-tracking digital transformation.

How Is The Digital Twin In The Manufacturing Market Segmented?

Delineating the digital twin in the manufacturing market, the manufacturing arena can be segmented based on type, enterprise size, and application. Types include product and machine design software, computer-aided manufacturing software, manufacturing execution systems, and IoT analytics software. The market can also be segmented into small and medium enterprises, as well as large enterprises based on enterprise size. As for application, the market allows for product design, process optimization, quality management, predictive maintenance, and other applications.

What Are The Regional Insights In The Digital Twin In The Manufacturing Market?

North America was the largest region in the digital twin in manufacturing market in 2024. However, Asia-Pacific is set to outpace other regions and is anticipated to be the fastest-growing region in the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, South America, as well as the Middle East and Africa.

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The Business Research Company
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