Digital Twin Market Projection, Technological Innovation And Emerging Trends 2030

The global digital twin market size, which was $3,210.1 million in 2020, will likely reach $184,517.4 million by 2030, witnessing a 50% CAGR between 2020 and 2030, according to P&S Intelligence.

In the coming years, the fastest growth within the technology segment of the digital twin market will be seen in the IoT category. The adoption of IoT and focus on sensor-powered product development are increasing around the world, which is why digital twins are being used to simulate IoT-based machines.