The North America Supply Chain Digital Twin Market would witness market growth of 10.7% CAGR during the forecast period (2023-2030).
The concept of a digital twin, initially rooted in manufacturing and product design, has evolved and extended its reach into the complex and interconnected world of supply chain management. The market is experiencing a profound transformation, driven by the increasing need for visibility, agility, and resilience in global supply chains. The adoption of supply chain digital twins (SCDTs) has gained momentum across various industries due to their potential to revolutionize supply chain operations.
SCDTs provide a holistic view of these intricacies, enabling better decision-making. Modern consumers expect quick deliveries and accurate order tracking. SCDTs offer real-time visibility into inventory, shipments, and demand, helping companies meet customer expectations and maintain competitiveness. SCDTs allow companies to simulate and strategize for potential disruptions, enhancing resilience.
As per the Manufacturing Industry Statistics released by the United States National Institute of Standards and Technology, in 2021, manufacturing contributed $2.3 trillion to the U.S. GDP, amounting to 12.0 % of total U.S. GDP. Including direct and indirect (i.e., purchases from other industries) value-added, manufacturing contributed an estimated 24 % of GDP. In 2020, U.S. manufacturing imported 18.2 % of its intermediate goods/services, resulting in 10.6 % foreign output. Moreover, Canada's abundant natural resources, such as minerals, forestry products, and energy resources, have led to a robust processing and manufacturing industry. This includes wood and paper manufacturing, mining and metal processing, and petroleum refining. According to the data provided by the Government of Canada, manufacturing revenues reached $7.7 billion of total $8.3 billion in 2020. These factors will boost the demand for supply chain digital twin in the North America region.
The US market dominated the North America Supply Chain Digital Twin Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,307.6 million by 2030. The Canada market is experiencing a CAGR of 13.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 12.2% during (2023 - 2030).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Size Enterprises. Based on Component, the market is segmented into Hardware, Software and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Vertical, the market is segmented into Automotive, Aerospace & Defense, Manufacturing, Pharmaceuticals, Retail, Consumer Goods and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, SAP SE, Dassault Systemes SE, Kinaxis, Inc., Schneider Electric SE (AVEVA Group PLC), Siemens AG (Siemens Digital Industries Software), AnyLogic North America, LLC (The AnyLogic Company), Simio LLC and Logivations GmbH.
The concept of a digital twin, initially rooted in manufacturing and product design, has evolved and extended its reach into the complex and interconnected world of supply chain management. The market is experiencing a profound transformation, driven by the increasing need for visibility, agility, and resilience in global supply chains. The adoption of supply chain digital twins (SCDTs) has gained momentum across various industries due to their potential to revolutionize supply chain operations.
SCDTs provide a holistic view of these intricacies, enabling better decision-making. Modern consumers expect quick deliveries and accurate order tracking. SCDTs offer real-time visibility into inventory, shipments, and demand, helping companies meet customer expectations and maintain competitiveness. SCDTs allow companies to simulate and strategize for potential disruptions, enhancing resilience.
As per the Manufacturing Industry Statistics released by the United States National Institute of Standards and Technology, in 2021, manufacturing contributed $2.3 trillion to the U.S. GDP, amounting to 12.0 % of total U.S. GDP. Including direct and indirect (i.e., purchases from other industries) value-added, manufacturing contributed an estimated 24 % of GDP. In 2020, U.S. manufacturing imported 18.2 % of its intermediate goods/services, resulting in 10.6 % foreign output. Moreover, Canada's abundant natural resources, such as minerals, forestry products, and energy resources, have led to a robust processing and manufacturing industry. This includes wood and paper manufacturing, mining and metal processing, and petroleum refining. According to the data provided by the Government of Canada, manufacturing revenues reached $7.7 billion of total $8.3 billion in 2020. These factors will boost the demand for supply chain digital twin in the North America region.
The US market dominated the North America Supply Chain Digital Twin Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,307.6 million by 2030. The Canada market is experiencing a CAGR of 13.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 12.2% during (2023 - 2030).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Size Enterprises. Based on Component, the market is segmented into Hardware, Software and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Vertical, the market is segmented into Automotive, Aerospace & Defense, Manufacturing, Pharmaceuticals, Retail, Consumer Goods and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, SAP SE, Dassault Systemes SE, Kinaxis, Inc., Schneider Electric SE (AVEVA Group PLC), Siemens AG (Siemens Digital Industries Software), AnyLogic North America, LLC (The AnyLogic Company), Simio LLC and Logivations GmbH.
Scope of the Study
Market Segments Covered in the Report:
By Enterprise Size- Large Enterprises
- Small & Medium Size Enterprises
- Hardware
- Software
- Services
- On-premise
- Cloud
- Automotive
- Aerospace & Defense
- Manufacturing
- Pharmaceuticals
- Retail
- Consumer Goods
- Others
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Oracle Corporation
- SAP SE
- Dassault Systemes SE
- Kinaxis, Inc.
- Schneider Electric SE (AVEVA Group PLC)
- Siemens AG (Siemens Digital Industries Software)
- AnyLogic North America, LLC (The AnyLogic Company)
- Simio LLC
- Logivations GmbH
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Supply Chain Digital Twin Market by Enterprise Size
Chapter 6. North America Supply Chain Digital Twin Market by Component
Chapter 7. North America Supply Chain Digital Twin Market by Deployment Mode
Chapter 8. North America Supply Chain Digital Twin Market by Vertical
Chapter 9. North America Supply Chain Digital Twin Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- IBM Corporation
- Oracle Corporation
- SAP SE
- Dassault Systemes SE
- Kinaxis, Inc.
- Schneider Electric SE (AVEVA Group PLC)
- Siemens AG (Siemens Digital Industries Software)
- AnyLogic North America, LLC (The AnyLogic Company)
- Simio LLC
- Logivations GmbH
Methodology
LOADING...
