Asia-Pacific Predictive Twin Market to Record Substantial Growth By 2020

July 17, 2020

According to the research report titled ‘Asia Pacific Predictive Twin Market Analysis, 2020’, available with Market Study Report LLC, Asia-Pacific predictive twin market is expected to register significant growth during 2020-2025.

Rapid digitalization of various industry verticals along with rising adoption of IoT technologies in energy, automotive, and manufacturing sector are key factors driving the growth of predictive twin market in Asia-Pacific. Introduction of government initiative such as Make in India and Made in China 2025 are also aiding the market expansion, cites the study.

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Based on product type, Asia-Pacific predictive twin industry is bifurcated into system twin, process twin, product twin and parts twin.

In terms of deployment type, the market is segmented into hybrid, on-premise, and cloud. According to the report, the cloud deployment segment held a considerable market share in 2019 and is expected to register consistent growth in the subsequent years.

Elaborating on the application spectrum, the industry is classified into dynamic optimization, predictive maintenance and machine & equipment health monitoring segments. The report cites that the machine & equipment health monitoring segment accounted for a majority share in the overall market in 2019. Increasing focus towards reducing unplanned downtime in order to ensure smooth flow of operations and growing demand for time and cost saving solutions are fueling the demand for predictive twin solutions for machine & equipment health monitoring applications.

The end-user scope of Asia-Pacific predictive twin market comprises of aerospace & defense, energy & utilities, automotive & transportation, agriculture, and healthcare & pharma.

Considering the geographical landscape, Asia-Pacific predictive twin industry is divided into Japan, South Korea, China, and others. The report states that China accounted for a substantial share in the overall market in the year 2019 and is expected to grow significantly during the forecast period. Rapid industrialization and growing inclination towards digitizing various industrial and manufacturing processes are augmenting the regional demand.

The prominent companies operating in Asia-Pacific predictive twin market are SAP SE, Oracle Corp., Microsoft Corp., Ansys Inc., IBM Corp., Dassault Systèmes SE, Siemens AG, PTC Inc., and General Electric Co. among others.

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