At 35.5% CAGR, Middle East & Africa Digital Twin Market is Projected to be Worth US$ 5,885.16 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa digital twin market was valued at US$ 518.36 million in 2023 and is expected to reach US$ 5,885.16 million by 2031, registering a CAGR of 35.5% from 2023 to 2031. Integration of AI, AR, VR, and other advanced technologies and large-scale digital transformation & industry 4.0 adoption across enterprises are among the critical factors attributed to drive the Middle East & Africa digital twin market growth.

Digital twins are the accurate replica build of a system, product, process, or gadget to use it for development, testing, and validation purposes. Monitoring machinery and plant environments in the physical and virtual worlds is a crucial aspect for businesses in sectors such as manufacturing, transportation, and energy, wherein large machinery and other equipment are at the core of operations. Integrating these tangible assets with IT applications and infrastructure is necessary to boost productivity, enhance customer support, and generate crucial business insights that offer businesses a competitive edge. Hence, businesses might benefit from digital twins, AR, and VR to automate and modernize their operations in line with Industry 4.0. Integrating technologies such as AI, machine learning, VR, and AR with digital twins enhances the decision-making capabilities of users and businesses. Virtual reality and augmented reality enable a more immersive experience, allowing users to interact with virtual models and thoroughly analyze all aspects related to them. Artificial intelligence and machine learning provide meaningful insights into the data generated from these simulations. This enables better decision-making while designing, developing, and optimizing complex industrial systems. For instance, Unilever has generated an AI-powered digital twin for approximately 300 plants to monitor their manufacturing closely, implement real-time changes, increase productivity, reallocate materials and reduce waste. Thus, the integration of advanced technologies such as AI, AR, and VR is expected to emerge as a significant digital twin market trend in the coming years.

On the contrary, high development cost hampers the growth of Middle East & Africa digital twin market.

Based on type, the Middle East & Africa digital twin market is segmented into asset twin, system twin, process twin, and parts/component twin. The asset twin segment held 42.0% share of Middle East & Africa digital twin market share in 2023, amassing US$ 217.63 million. It is projected to garner US$ 2,811.07 million by 2031 to register 37.7% CAGR during 2023–2031.

In terms of enterprise size, the Middle East & Africa digital twin market is bifurcated into large enterprises and SMEs. The large enterprises segment held 86.2% share of Middle East & Africa digital twin market in 2023, amassing US$ 447.03 million. It is anticipated to garner US$ 5,144.61 million by 2031 to expand at 35.7% CAGR during 2023–2031.

Based on end user, the Middle East & Africa digital twin market is categorized into manufacturing, automotive, aerospace & defense, healthcare, retail, and others. The manufacturing segment held 22.0% share of Middle East & Africa digital twin market in 2023, amassing US$ 113.93 million. It is predicted to garner US$ 1,379.77 million by 2031 to expand at 36.6% CAGR between 2023 and 2031.

Based on country, the Middle East & Africa digital twin market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 41.6% share of Middle East & Africa digital twin market in 2023. It was assessed at US$ 215.85 million in 2023 and is likely to hit US$ 2,738.06 million by 2031, registering a CAGR of 37.4% during 2023–2031.

Key players operating in the Middle East & Africa digital twin market are General Electric Co; Microsoft Corp; Siemens AG; Dassault Systemes SE; PTC Inc.; Robert Bosch GmbH; International Business Machines Corp; Oracle Corp; Ansys, Inc.; and Autodesk, Inc. among others.

• September-2023: Launch Dassault Systèmes launched an 'Emma' avatar for its digital twin technology to raise awareness regarding health research. A digital twin of a human is a virtual model that is designed to accurately reflect the characteristics of the physical being. The 'Emma Twin' was developed using anonymous health data with the express purpose of conducting an infinite number of tests to glean more insight into various diseases and therapies.
• January-2023: Long-term partners Dassault Systèmes and IBM extended their collaboration with the signature of a memorandum of understanding at the World Economic Forum in Davos. Combination of Dassault Systèmes' 3DEXPERIENCE platform and virtual twin experiences, and IBM's asset management, IoT platform and environmental intelligence suite delivers actionable insights and solutions for modernizing assets, optimizing operations, and accelerating sustainability outcomes.

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