According to a new report, published by KBV research, The Global Supply Chain Digital Twin Market size is expected to reach $5.3 billion by 2030, rising at a market growth of 11.5% CAGR during the forecast period.
The Large Enterprises segment led the Global Supply Chain Digital Twin Market by Enterprise Size in 2022; thereby, achieving a market value of $3.6 billion by 2030. Large enterprises often have extensive and intricate supply chains span multiple countries, regions, and product lines. SCDTs offer a comprehensive view of these complex supply chains, enabling better decision-making and control. Large enterprises require real-time visibility into their supply chains to proactively respond to disruptions and optimize operations in a rapidly changing business environment.
The Hardware segment is registering a CAGR of 10.8 % during the forecast period. The Internet of Things (IoT) has seen widespread adoption in supply chains, with sensors and IoT devices becoming integral for tracking and monitoring physical assets, such as shipments, inventory, and equipment. These sensors provide real-time data on the condition, location, and performance of assets, essential for creating accurate digital representations in SCDTs.
The On-premise segment is generating the maximum revenue share in the Global Supply Chain Digital Twin Market by Deployment Mode achieving a market value of $2.78 billion by 2030. Some organizations, particularly those operating in highly regulated industries such as healthcare, defense, or finance, deal with extremely sensitive data within their supply chain operations. Storing and managing this data on-premise provides greater control over security and compliance. On-premise deployments offer more control over data management and adherence to specific regulatory requirements.
The Automotive segment is growing at a CAGR of 10.5 % during the forecast period. The automotive industry relies on extensive global supply networks involving multiple suppliers, manufacturers, and logistics partners worldwide. Managing such complexity demands advanced digital tools like SCDTs. Automotive supply chains consist of various tiers of suppliers, each providing components and materials. SCDTs enable visibility and traceability across these tiers, helping in risk management. As a result, the demand will increase in the segment.
The North America region dominated the Global Supply Chain Digital Twin Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 billion by 2030. The Europe region is anticipated to grow at a CAGR of 11.1% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 12.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/supply-chain-digital-twin-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, SAP SE, Dassault Systemes SE, Kinaxis, Inc., Schneider Electric SE (AVEVA Group PLC), Siemens AG (Siemens Digital Industries Software), AnyLogic North America, LLC (The AnyLogic Company), Simio LLC and Logivations GmbH.
By Enterprise Size
By Component
By Deployment Mode
By Vertical
By Geography
Companies Profiled
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