The global digital twin market generated revenue of $3,210.1 million in 2020, and it is expected to reach $184,517.4 million by 2030, advancing at a CAGR of 50.0% during the forecast period. The growing adoption of the internet of things (IoT), artificial intelligence (AI), 5G, and machine learning (ML) technologies, increasing penetration of Industry 4.0 standards, and rising demand for cloud services are supporting the growth of the market.

The global digital twin market generated revenue of $3,210.1 million in 2020, and it is expected to reach $184,517.4 million by 2030, advancing at a CAGR of 50.0% during the forecast period. The growing adoption of the internet of things (IoT), artificial intelligence (AI), 5G, and machine learning (ML) technologies, increasing penetration of Industry 4.0 standards, and rising demand for cloud services are supporting the growth of the market.