Market Share of Digital Twin Industry
The digital twin market is fragmented with major players like ANSYS Inc., Cal-Tek SRL, Cityzenith Inc., General Electric Company, and IBM Corporation. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their service offerings and gain sustainable competitive advantage.
In June 2023, Mevea announced delivering digital twins, simulation software, and training simulators to Siemens. Siemens integrates these solutions within its open and modular SIMOCRANE Remote Control Systems (RCOS) to remotely control all relevant crane types like STS, Cantilever ARMG, end loading ASC, and RTG. The digital twins are used in crane automation, software testing & development, and operator training.
In March 2023, ANSYS Inc. and L&T Technology Services Limited signed an MOU to establish the LTTS-Ansys Center of Excellence (CoE) for Digital Twin. The center will support LTTS in demonstrating industry use cases, developing future-facing solutions, and enabling its customers to optimize design, manufacturing, and supply chain processes. Ansys' Twin Builder solution will further allow LTTS to expand its market share in digital twin areas.
Digital Twin Market Leaders
ANSYS Inc.
Cal-Tek SRL
Cityzenith Inc.
General Electric Company
IBM Corporation
*Disclaimer: Major Players sorted in no particular order
