About Digital Thread
Digital Thread refers to the framework which connects the data flow and integrated view of the asset’s data throughout its lifecycle. It represents the full end to end business process linking data and information throughout a product. Digital Thread connects digital twins, digital models of physical assets or groups of assets. This allows business to continue connecting through the digital thread which improves on-time delivery, advance customer satisfaction, increase profitability, derive incremental productivity and generate revenue. Digital Thread helps in delivering the right information at the right time and at the right place.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Digital Thread market is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet their needs. Thus, constantly introducing innovations in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.The Players having a strong hold in the market are GE, PTC, Siemens, Dassault Systèmes, IBM. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Digital Thread market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Electric (United States), PTC (United States), Siemens (Germany), Dassault Systèmes (France), IBM Corporation (United States), ANSYS (United States), Microsoft Corporation (United States), Oracle Corporation (United States), SAP SE (Germany) and Robert Bosch GmbH (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Digital Thread market by Type (Parts and System), Application (Aerospace & Defense, Automotive & Transportation, Machine Manufacturing, Energy & Utilities and Others) and Region.
On the basis of geography, the market of Digital Thread has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Digital Twin Platform will boost the Digital Thread market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Innovation in The Field Of Virtual Reality and Augmented Reality
Market Growth Drivers:
Rising Demand For IOT In Various Industries, Digital Thread Provides The Analytical Framework For Organizing Output From High-Fidelity, Physics-Based Models Across The Entire Life Cycle and Need Of Reduction In The Manufacturing Process Time And Cost
Challenges:
Lack Of Skilled Force and Technical Knowledge
Restraints:
Risk Associated With Data Security
Opportunities:
Rising Demand For Digital Twin Technology in The Automobile and Aerospace Industries
Market Leaders and their expansionary development strategies
On October 27, 2023, Siemens announced the acquisition of Brightly Software, a provider of cloud-based construction management software. This acquisition will help Siemens expand its offerings for the Digital Thread in the construction industry.
On November 15, 2023, GE Digital launched the Predix APM Suite, a new suite of software applications for asset performance management. The Predix APM Suite is designed to help industrial companies improve the reliability and uptime of their assets.
Key Target Audience
Digital Thread Manufacturers, Digital Thread Distributors/Traders/Wholesalers, Digital Thread Subcomponent Manufacturers, Industry Association and Downstream Vendors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.