Clinical Trials Arena April 16, 2024
The digital twin market will be worth $154bn by 2030 having expanded at a compound annual growth rate of 35.6% since 2019, according to a new report.
The 2024 edition of GlobalData’s Digital Twins report explores the market for the technology and its impact on numerous industries. The report indicates that growth in the market will be predominantly driven by low-cost sensors used in internet of things devices, a decline in the cost of high-performance computing and improved cloud accessibility.
Digital twins are digital representations of physical assets, systems, people or processes. Creating a ‘live bridge’ between a physical asset and its virtual representation, they integrate data and information about the asset to provide insights that go beyond what can...
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