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Global Building Twin Market by Offering (Software Solutions, Services), Application (Facility Management, Predictive Maintenance, Safety & Security Management, Energy Management), End User (Commercial, Industrial) and Region - Forecast to 2029

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    Report

  • 232 Pages
  • July 2024
  • Region: Global
  • Markets and Markets
  • ID: 5988296
The building twin market is expected to grow from USD 2.1 billion in 2024 to USD 13.3 billion by 2029, at a CAGR of 44.7% during the forecast period. The growth of the building twin market is driven mainly by the growing focus on cost reduction and reducing environmental impact; and growing focus on predictive maintenenace are driving the market for building twin.

The building twin market for the commercial end user segment is expected to grow at the highest CAGR during the forecast period

The building twin market for the commercial end user segment is expected to grow at the highest CAGR during the forecast period. This growth is driven by a rising demand for effective building management, cost efficiency, and sustainability practices specifically tailored for commercial properties. Digital twin technology offers significant advantages such as real-time monitoring, predictive maintenance, and optimized space utilization, which are particularly valuable in commercial environments. Furthermore, businesses increasingly emphasize improving tenant experiences and meeting regulatory standards, which further promotes the adoption of digital twins. By integrating IoT and AI technologies, commercial enterprises can leverage advanced analytics and automation to enhance operational efficiency and decision-making processes. These factors collectively contribute to the rapid expansion of the building twin market within the commercial sector.

Facility Management application segment is expected to dominate the building twin market throughout the forecast period

The Facility Management application is expected to account for the largest size of the building twin market throughout the forecast period. The growth is driven by its critical role in improving building performance through real-time monitoring, and effective management of building systems. Advanced analytics and IoT technologies further boost efficiency, reduce downtime and prolong the lifespan of building assets. In addition, increasingly complex building systems and a focus on sustainability are also driving the adoption of these solutions, ensuring compliance with regulations while enhancing comfort and safety for occupants. As organizations prioritize cost-efficiency and operational excellence, the demand for facility management applications continues to increase, underscoring their importance in modern building management practices.

Building twin market in North America region to register highest CAGR between 2024 and 2029

The building twin market in North America is expected to grow at the highest CAGR during the forecast period. The growth is driven by several factors, such as the region's adoption of advanced technologies such as IoT, AI, and cloud computing, which are crucial for effective building twin solutions and supported by a robust infrastructure. Regulatory priorities on sustainability and energy efficiency further incentivize the adoption of building twin technologies, enhancing operational efficiency and environmental sustainability in smart buildings. North America's innovation ecosystem, bolstered by major technology companies, continually advances, building twin capabilities like real-time monitoring and predictive maintenance. This diverse industry landscape, encompassing commercial and industrial, offers ample opportunities for tailored building twin solutions, reinforcing North America's global leadership in shaping the future of building management practices.

Breakdown of primaries

In determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the building twin market space. The break-up of primary participants for the report has been shown below:
  • By Company Type: Tier 1 - 35%, Tier 2 - 40%, and Tier 3 - 25%
  • By Designation: C-level Executives - 30%, Managers - 35%, and Others - 35%
  • By Region: North America - 40%, Europe - 30%, Asia Pacific - 20%, and Rest of the World - 10%
Key players in the building twin market are Microsoft (US), Siemens (Germany), Amazon (US), Dassault Systèmes (France), Robert Bosch GmbH (Germany), ANSYS, Inc (US), IBM (US), Autodesk Inc. (US), SAP (Germany), Oracle (US), and Bentley Systems, Incorporated (US) and others.

The building twin market has been segmented into offering, application, end user, and region. The building twin market has been studied in North America, Europe, Asia Pacific, and the Rest of the World.

Reasons to buy the report:

The report will help the market leaders/new entrants with information on the closest approximate revenues for the building twin and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Analysis of key drivers (growing focus on cost reduction and reducing environmental impact, enhancing real-time data visualization and streamlining the design process, growing focus on predictive maintenance, and government initiatives for digitization), restraints (high initial investment to implement building twin technology, susceptibility of building twin technology to cyberattacks), opportunities (advancements in AL & ML powered predictions, growing preference towards smart cities), and challenges (complexities associated with integrating a large amount of data and early stage technology and limited awareness).
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the building twin market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the building twin market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the building l twin market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Microsoft (US), Siemens (Germany), Amazon (US), Dassault Systèmes (France), Robert Bosch GmbH (Germany), ANSYS, Inc (US), IBM (US), Autodesk Inc. (US), SAP (Germany), Oracle (US), and Bentley Systems, Incorporated (US), among others.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Inclusions and Exclusions
1.3.3 Years Considered
1.4 Currency Considered
1.5 Limitations
1.6 Stakeholders
1.7 Recession Impact
2 Research Methodology
2.1 Research Data
2.1.1 Secondary and Primary Research
2.1.2 Secondary Data
2.1.2.1 List of Key Secondary Sources
2.1.2.2 Key Data from Secondary Sources
2.1.3 Primary Data
2.1.3.1 Intended Participants and Key Opinion Leaders in Primary Interviews
2.1.3.2 Key Data from Primary Sources
2.1.3.3 Key Industry Insights
2.1.3.4 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Estimate Market Size Using Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach to Estimate Market Size Using Top-Down Analysis (Supply Side)
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Parameters Considered to Analyze Impact of Recession on Building Twin Market
2.6 Research Limitations
2.7 Risk Analysis
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Building Twin Market
4.2 Building Twin Market, by Offering
4.3 Building Twin Market, by Application
4.4 Building Twin Market, by End-user
4.5 Building Twin Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Pressing Need to Mitigate Environmental Impact
5.2.1.2 Rising Adoption of Improved Real-Time Data Visualization Tools in Building Operations
5.2.1.3 Rising Focus on Predictive Maintenance to Ensure Safety and Reliability of Building Operations
5.2.1.4 Government-Led Initiatives to Boost Digital Infrastructure
5.2.2 Restraints
5.2.2.1 High Cost of Establishing Building Twins
5.2.2.2 Susceptibility to Cyberattacks
5.2.3 Opportunities
5.2.3.1 Integration of Building Twin Technology with Advanced Sensors and IoT Technologies
5.2.3.2 Emergence of AI- and ML-Powered Building Twins
5.2.3.3 Growing Initiatives to Develop Smart Cities
5.2.4 Challenges
5.2.4.1 Complexities Associated with Integrating Large Amount of Data
5.2.4.2 Lack of Standardization in Building Twin Technology
5.3 Trends/Disruptions Impacting Customers’ Businesses
5.4 Pricing Analysis
5.4.1 Average Selling Price Trend of Building Twin Solutions, by Key Player
5.5 Value Chain Analysis
5.6 Ecosystem Analysis
5.7 Investment and Funding Scenario
5.8 Technology Analysis
5.8.1 Key Technologies
5.8.1.1 IoT and IIoT
5.8.1.2 Building Information Modeling
5.8.1.3 3D Modeling
5.8.2 Complimentary Technologies
5.8.2.1 AI and ML
5.8.2.2 AR, VR, and Mr
5.8.2.3 Cloud Computing and Edge Computing
5.8.3 Adjacent Technologies
5.8.3.1 Blockchain
5.8.3.2 5G
5.9 Patent Analysis
5.10 Trade Analysis
5.10.1 Import Data (HS Code 851769)
5.10.2 Export Data (HS Code 851769)
5.11 Key Conferences and Events, 2023-2024
5.12 Case Study Analysis
5.12.1 Temple University Developed Digital Twin Ecosystem with Azure IoT to Optimize Operations
5.12.2 AWS Provided John Holland with AWS IoT Twinmaker to Enhance Asset Development and Management
5.12.3 Unity Helped Orlando with 3D Digital Twin for Urban Planning Through Real-Time Visualization and Scenario Testing
5.12.4 Singapore Land Authority Implemented Digital Twin for Effective Urban Planning and Transportation Management
5.13 Regulatory Landscape
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Standards
5.14 Porter's Five Forces Analysis
5.14.1 Threat of New Entrants
5.14.2 Threat of Substitutes
5.14.3 Bargaining Power of Buyers
5.14.4 Bargaining Power of Suppliers
5.14.5 Intensity of Competitive Rivalry
5.15 Key Stakeholders and Buying Criteria
5.15.1 Key Stakeholders in Buying Process
5.15.2 Buying Criteria
6 Types of Building Twins
6.1 Introduction
6.2 Descriptive Twins
6.3 Informative Twins
6.4 Predictive Twins
6.5 Comprehensive Twins
6.6 Autonomous Twins
7 Building Twin Market, by Offering
7.1 Introduction
7.2 Software Solutions
7.2.1 Integration of Real-Time Sensor Data and Static Information to Offer Lucrative Growth Opportunities
7.2.2 Platform as a Service (PaaS)
7.2.3 Software as a Service (SaaS)
7.3 Services
7.3.1 Increasing Complexities of Modern Building Projects to Boost Demand
8 Building Twin Market, by Application
8.1 Introduction
8.2 By Application
8.2.1 Facility Management
8.2.1.1 Rising Trend of Smart Buildings to Boost Adoption
8.2.2 Predictive Maintenance
8.2.2.1 Ability to Monitor Equipment Performance and Detect Failures to Accelerate Demand
8.2.3 Energy Management
8.2.3.1 Integration of Renewable Energy Sources to Offer Lucrative Growth Opportunities
8.2.4 Safety & Security Management
8.2.4.1 Increasing Need to Monitor Security Breaches to Spur Demand
8.2.5 Others
8.3 Design & Construction (Qualitative)
9 Building Twin Market, by End-user
9.1 Introduction
9.2 Commercial
9.2.1 Office Buildings
9.2.1.1 Increasing Demand for Virtual Tours and Interactive Maps to Drive Market
9.2.2 Retail Space
9.2.2.1 Rising Demand for Innovative and Data-Driven Solutions for Operational Efficiency to Accelerate Demand
9.2.3 Hospitality Industry
9.2.3.1 Growing Emphasis on Providing Personalized Guest Experiences to Spur Demand
9.2.4 Hospitals
9.2.4.1 Ability to Simulate Disaster Scenarios for Planning Effective Responses to Foster Segmental Growth
9.2.5 Educational Institutions
9.2.5.1 Increasing Demand for Optimizing Classroom Layouts to Boost Adoption
9.2.6 Airport & Transportation Hubs
9.2.6.1 Rising Need to Streamline Airport Operations to Enhance Passenger Experiences to Drive Market
9.3 Industrial
9.3.1 Growing Need to Boost Productivity and Lower Operational Costs to Drive Market
10 Building Twin Market, by Region
10.1 Introduction
10.2 North America
10.2.1 Impact of Recession on Building Twin Market in North America
10.2.2 US
10.2.2.1 Growing Adoption of Digital Technology in Infrastructure Sector to Drive Market
10.2.3 Canada
10.2.3.1 Increasing Adoption of Green Building Practices to Spur Demand
10.2.4 Mexico
10.2.4.1 Government-Led Initiatives Promoting Digitalized Infrastructure to Create Lucrative Growth Opportunities
10.3 Europe
10.3.1 Impact of Recession on Building Twin Market in Europe
10.3.2 Germany
10.3.2.1 Increasing Focus on Crafting 3D Model of Nation to Foster Market Growth
10.3.3 France
10.3.3.1 Rising Emphasis on Modernizing Industrial Sector to Drive Market
10.3.4 UK
10.3.4.1 Growing Emphasis on Establishing 5G Network to Offer Lucrative Growth Opportunities
10.3.5 Rest of Europe
10.4 Asia-Pacific
10.4.1 Impact of Recession on Building Twin Market in Asia-Pacific
10.4.2 China
10.4.2.1 Increasing Development of Digital Twin Cities to Boost Demand
10.4.3 Japan
10.4.3.1 Implementation of Digital Twin Technology to Enhance Urban Planning, Disaster Management, and Customer Engagement to Drive Market
10.4.4 India
10.4.4.1 Growing Application of AI and 5G in Infrastructure Planning and Designing to Spur Demand
10.4.5 South Korea
10.4.5.1 Rising Focus on Promoting R&D Initiatives for IoT to Drive Market
10.4.6 Rest of Asia-Pacific
10.5 RoW
10.5.1 Impact of Recession on Building Twin Market in RoW
10.5.2 South America
10.5.2.1 Ongoing Development of Infrastructure and Communication Networks to Foster Market Growth
10.5.3 Middle East
10.5.3.1 Growing Partnerships Among Industry Vendors and Consultants to Spur Demand
10.5.3.2 GCC
10.5.3.3 Rest of Middle East
10.5.4 Africa
10.5.4.1 Increasing Demand for Smart Connectivity to Boost Adoption
11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies/Right to Win, 2022-2024
11.3 Revenue Analysis, 2019-2023
11.4 Market Share Analysis, 2023
11.5 Company Valuation and Financial Metrics
11.6 Brand/Product Comparison
11.7 Company Evaluation Matrix, 2023
11.7.1 Stars
11.7.2 Emerging Leaders
11.7.3 Pervasive Players
11.7.4 Participants
11.7.5 Company Footprint: Key Players, 2023
11.7.5.1 Company Footprint
11.7.5.2 Offering Footprint
11.7.5.3 End-user Footprint
11.7.5.4 Application Footprint
11.7.5.5 Region Footprint
11.8 Company Evaluation Matrix: Startups/SMEs, 2023
11.8.1 Progressive Companies
11.8.2 Responsive Companies
11.8.3 Dynamic Companies
11.8.4 Starting Blocks
11.8.5 Competitive Benchmarking: Startups/SMEs, 2023
11.8.5.1 Detailed List of Key Startups/SMEs
11.8.5.2 Competitive Benchmarking of Key Startups/SMEs
11.9 Competitive Scenario and Trends
11.9.1 Product Launches
11.9.2 Deals
11.9.3 Others
12 Company Profiles
12.1 Key Players
12.1.1 Siemens
12.1.1.1 Business Overview
12.1.1.2 Products/Solutions/Services Offered
12.1.1.3 Recent Developments
12.1.1.3.1 Product Launches/Developments
12.1.1.3.2 Deals
12.1.1.4 Analyst's View
12.1.1.4.1 Key Strengths/Right to Win
12.1.1.4.2 Strategic Choices
12.1.1.4.3 Weaknesses/Competitive Threats
12.1.2 Microsoft
12.1.2.1 Business Overview
12.1.2.2 Products/Solutions/Services Offered
12.1.2.3 Recent Developments
12.1.2.3.1 Deals
12.1.2.4 Analyst's View
12.1.2.4.1 Key Strengths/Right to Win
12.1.2.4.2 Strategic Choices
12.1.2.4.3 Weaknesses/Competitive Threats
12.1.3 Robert Bosch GmbH
12.1.3.1 Business Overview
12.1.3.2 Products/Solutions/Services Offered
12.1.3.3 Recent Developments
12.1.3.3.1 Product Launches/Developments
12.1.3.3.2 Deals
12.1.3.4 Analyst's View
12.1.3.4.1 Key Strengths/Right to Win
12.1.3.4.2 Strategic Choices
12.1.3.4.3 Weaknesses/Competitive Threats
12.1.4 Dassault Systèmes
12.1.4.1 Business Overview
12.1.4.2 Products/Solutions/Services Offered
12.1.4.3 Recent Developments
12.1.4.3.1 Product Launches/Developments
12.1.4.3.2 Deals
12.1.4.4 Analyst's View
12.1.4.4.1 Key Strengths/Right to Win
12.1.4.4.2 Strategic Choices
12.1.4.4.3 Weaknesses/Competitive Threats
12.1.5 Amazon Web Services, Inc. (AWS)
12.1.5.1 Business Overview
12.1.5.2 Products/Solutions/Services Offered
12.1.5.3 Recent Developments
12.1.5.3.1 Product Launches/Developments
12.1.5.3.2 Deals
12.1.5.4 Analyst's View
12.1.5.4.1 Key Strengths/Right to Win
12.1.5.4.2 Strategic Choices
12.1.5.4.3 Weaknesses/Competitive Threats
12.1.6 Autodesk Inc.
12.1.6.1 Business Overview
12.1.6.2 Products/Solutions/Services Offered
12.1.6.3 Recent Developments
12.1.6.3.1 Product Launches/Developments
12.1.6.3.2 Deals
12.1.7 IBM
12.1.7.1 Business Overview
12.1.7.2 Products/Solutions/Services Offered
12.1.7.3 Recent Developments
12.1.7.3.1 Deals
12.1.8 Oracle
12.1.8.1 Business Overview
12.1.8.2 Products/Solutions/Services Offered
12.1.8.3 Recent Developments
12.1.8.3.1 Product Launches/Developments
12.1.8.3.2 Deals
12.1.8.3.3 Others
12.1.9 Ansys, Inc.
12.1.9.1 Business Overview
12.1.9.2 Products/Solutions/Services Offered
12.1.9.3 Recent Developments
12.1.9.3.1 Product Launches/Developments
12.1.9.3.2 Deals
12.1.10 SAP
12.1.10.1 Business Overview
12.1.10.2 Products/Solutions/Services Offered
12.1.10.3 Recent Developments
12.1.10.3.1 Deals
12.1.11 Bentley Systems, Incorporated
12.1.11.1 Business Overview
12.1.11.2 Products/Solutions/Services Offered
12.1.11.3 Recent Developments
12.1.11.3.1 Deals
12.2 Other Key Players
12.2.1 Matterport Inc.
12.2.2 Trimble Inc.
12.2.3 ABB
12.2.4 Johnson Controls
12.2.5 Schneider Electric
12.2.6 Esri
12.2.7 Navvis
12.2.8 Novacene IoT Ltd.
12.2.9 Apriori
12.2.10 Software AG
12.2.11 Integrated Environmental Solutions Limited
12.2.12 Twinsity GmbH
12.2.13 Twinzo
12.2.14 Cityzenith
13 Adjacent and Related Markets
13.1 Introduction
13.2 Digital Twin Market, by Enterprise
13.3 Large Enterprises
13.3.1 Growing Deployment of Blockchain Technology in Healthcare Sector to Drive Demand
13.4 Small & Medium Enterprises (SMEs)
13.4.1 Increasing Demand for Subscription-based Digital Twin Services to Boost Segmental Growth
14 Appendix
14.1 Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledgestore: The Subscription Portal
14.4 Customization Options
List of Tables
Table 1 Indicative Pricing Trend of Building Twin Products Offered By Key Players, 2019-2023 (USD)
Table 2 Roles of Companies in Building Twin Market Ecosystem
Table 3 List of Applied/Granted Patents Related to Building Twins, 2023-2024
Table 4 Building Twin Market: List of Conferences and Events
Table 5 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 6 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 7 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Global Standards Related to Building Twins
Table 10 Building Twin Market: Porter's Five Forces Analysis
Table 11 Influence of Key Stakeholders on Buying Process, by End-user (%)
Table 12 Key Buying Criteria, by End-user
Table 13 Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 14 Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 15 Software Solutions: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 16 Software Solutions: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 17 Software Solutions: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 18 Software Solutions: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 19 Services: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 20 Services: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 21 Services: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 22 Services: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 23 Building Twin Market, by Application, 2020-2023 (USD Million)
Table 24 Building Twin Market, by Application, 2024-2029 (USD Million)
Table 25 Facility Management: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 26 Facility Management: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 27 Facility Management: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 28 Facility Management: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 29 Predictive Maintenance: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 30 Predictive Maintenance: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 31 Predictive Maintenance: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 32 Predictive Maintenance: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 33 Energy Management: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 34 Energy Management: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 35 Energy Management: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 36 Energy Management: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 37 Safety & Security Management: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 38 Safety & Security Management: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 39 Safety & Security Management: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 40 Safety & Security Management: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 41 Others: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 42 Others: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 43 Others: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 44 Others: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 45 Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 46 Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 47 Commercial: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 48 Commercial: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 49 Commercial: Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 50 Commercial: Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 51 Commercial: Building Twin Market, by Application, 2020-2023 (USD Million)
Table 52 Commercial: Building Twin Market, by Application, 2024-2029 (USD Million)
Table 53 Commercial: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 54 Commercial: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 55 Office Buildings: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 56 Office Buildings: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 57 Retail Space: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 58 Retail Space: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 59 Hospitality Industry: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 60 Hospitality Industry: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 61 Hospitals: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 62 Hospitals: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 63 Educational Institutions: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 64 Educational Institutions: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 65 Airport & Transportation Hubs: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 66 Airport & Transportation Hubs: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 67 Industrial: Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 68 Industrial: Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 69 Industrial: Building Twin Market, by Application, 2020-2023 (USD Million)
Table 70 Industrial: Building Twin Market, by Application, 2024-2029 (USD Million)
Table 71 Industrial: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 72 Industrial: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 73 Building Twin Market, by Region, 2020-2023 (USD Million)
Table 74 Building Twin Market, by Region, 2024-2029 (USD Million)
Table 75 North America: Building Twin Market, by Country, 2020-2023 (USD Million)
Table 76 North America: Building Twin Market, by Country, 2024-2029 (USD Million)
Table 77 North America: Building Twin Market, by Application, 2020-2023 (USD Million)
Table 78 North America: Building Twin Market, by Application, 2024-2029 (USD Million)
Table 79 North America: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 80 North America: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 81 North America: Building Twin Market for Commercial, by End-user, 2020-2023 (USD Million)
Table 82 North America: Building Twin Market for Commercial, by End-user, 2024-2029 (USD Million)
Table 83 North America: Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 84 North America: Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 85 Europe: Building Twin Market, by Country, 2020-2023 (USD Million)
Table 86 Europe: Building Twin Market, by Country, 2024-2029 (USD Million)
Table 87 Europe: Building Twin Market, by Application, 2020-2023 (USD Million)
Table 88 Europe: Building Twin Market, by Application, 2024-2029 (USD Million)
Table 89 Europe: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 90 Europe: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 91 Europe: Building Twin Market for Commercial, by End-user, 2020-2023 (USD Million)
Table 92 Europe: Building Twin Market for Commercial, by End-user, 2024-2029 (USD Million)
Table 93 Europe: Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 94 Europe: Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 95 Asia-Pacific: Building Twin Market, by Country, 2020-2023 (USD Million)
Table 96 Asia-Pacific: Building Twin Market, by Country, 2024-2029 (USD Million)
Table 97 Asia-Pacific: Building Twin Market, by Application, 2020-2023 (USD Million)
Table 98 Asia-Pacific: Building Twin Market, by Application, 2024-2029 (USD Million)
Table 99 Asia-Pacific: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 100 Asia-Pacific: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 101 Asia-Pacific: Building Twin Market for Commercial, by End-user, 2020-2023 (USD Million)
Table 102 Asia-Pacific: Building Twin Market for Commercial, by End-user, 2024-2029 (USD Million)
Table 103 Asia-Pacific: Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 104 Asia-Pacific: Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 105 RoW: Building Twin Market, by Region, 2020-2023 (USD Million)
Table 106 RoW: Building Twin Market, by Region, 2024-2029 (USD Million)
Table 107 RoW: Building Twin Market, by Application, 2020-2023 (USD Million)
Table 108 RoW: Building Twin Market, by Application, 2024-2029 (USD Million)
Table 109 RoW: Building Twin Market, by End-user, 2020-2023 (USD Million)
Table 110 RoW: Building Twin Market, by End-user, 2024-2029 (USD Million)
Table 111 RoW: Building Twin Market for Commercial, by End-user, 2020-2023 (USD Million)
Table 112 RoW: Building Twin Market for Commercial, by End-user, 2024-2029 (USD Million)
Table 113 RoW: Building Twin Market, by Offering, 2020-2023 (USD Million)
Table 114 RoW: Building Twin Market, by Offering, 2024-2029 (USD Million)
Table 115 Middle East: Building Twin Market, by Country, 2020-2023 (USD Million)
Table 116 Middle East: Building Twin Market, by Country, 2024-2029 (USD Million)
Table 117 Key Player Strategies/Right to Win, 2022-2024
Table 118 Building Twin Market: Degree of Competition, 2023
Table 119 Building Twin Market: Ranking Analysis of Building Twin Platform Providers, 2023
Table 120 Building Twin Market: Offering Footprint
Table 121 Building Twin Market: End-user Footprint
Table 122 Building Twin Market: Application Footprint
Table 123 Building Twin Market: Region Footprint
Table 124 Building Twin Market: List of Key Startups/SMEs
Table 125 Building Twin Market: Competitive Benchmarking of Key Startups/SMEs
Table 126 Building Twin Market: Product Launches, February 2022-April 2024
Table 127 Building Twin Market: Deals, February 2022-April 2024
Table 128 Building Twin Market: Others, February 2022-April 2024
Table 129 Siemens: Company Overview
Table 130 Siemens: Products/Solutions/Services Offered
Table 131 Siemens: Product Launches/Developments
Table 132 Siemens: Deals
Table 133 Microsoft: Company Overview
Table 134 Microsoft: Products/Solutions/Services Offered
Table 135 Microsoft: Deals
Table 136 Robert Bosch GmbH: Company Overview
Table 137 Robert Bosch GmbH: Products/Solutions/Services Offered
Table 138 Robert Bosch GmbH: Product Launches/Developments
Table 139 Robert Bosch GmbH: Deals
Table 140 Dassault Systèmes: Company Overview
Table 141 Dassault Systèmes: Products/Solutions/Services Offered
Table 142 Dassault Systèmes: Products Launches/Developments
Table 143 Dassault Systèmes: Deals
Table 144 Amazon Web Services, Inc.: Company Overview
Table 145 Amazon Web Services, Inc.: Products/Solutions/Services Offered
Table 146 Amazon Web Services, Inc.: Products Launches/Developments
Table 147 Amazon Web Services, Inc.: Deals
Table 148 Autodesk Inc.: Company Overview
Table 149 Autodesk Inc.: Products/Solutions/Services Offered
Table 150 Autodesk Inc.: Products Launches/Developments
Table 151 Autodesk Inc.: Deals
Table 152 IBM: Company Overview
Table 153 IBM: Products/Solutions/Services Offered
Table 154 IBM: Deals
Table 155 Oracle: Company Overview
Table 156 Oracle: Products/Solutions/Services Offered
Table 157 Oracle: Products Launches/Developments
Table 158 Oracle: Deals
Table 159 Oracle: Others
Table 160 Ansys, Inc.: Company Overview
Table 161 Ansys, Inc.: Products/Solutions/Services Offered
Table 162 Ansys, Inc.: Products Launches/Developments
Table 163 Ansys, Inc.: Deals
Table 164 SAP: Company Overview
Table 165 SAP: Products/Solutions/Services Offered
Table 166 SAP: Deals
Table 167 Bentley Systems, Incorporated: Company Overview
Table 168 Bentley Systems, Incorporated: Products/Solutions/Services Offered
Table 169 Bentley Systems, Incorporated: Deals
Table 170 Matterport Inc.: Company Overview
Table 171 Trimble Inc.: Company Overview
Table 172 ABB: Company Overview
Table 173 Johnson Controls: Company Overview
Table 174 Schneider Electric: Company Overview
Table 175 Esri: Company Overview
Table 176 Navvis: Company Overview
Table 177 Novacene IoT Ltd.: Company Overview
Table 178 Apriori: Company Overview
Table 179 Software AG: Company Overview
Table 180 Integrated Environmental Solutions Limited: Company Overview
Table 181 Twinsity: Company Overview
Table 182 Twinzo: Company Overview
Table 183 Cityzenith: Company Overview
Table 184 Digital Twin Market, by Enterprise, 2019-2022 (USD Million)
Table 185 Digital Twin Market, by Enterprise, 2023-2028 (USD Million)
Table 186 Large Enterprises: Digital Twin Market, by Region, 2019-2022 (USD Million)
Table 187 Large Enterprises: Digital Twin Market, by Region, 2023-2028 (USD Million)
Table 188 Small & Medium Enterprises: Digital Twin Market, by Region, 2019-2022 (USD Million)
Table 189 Small & Medium Enterprises: Digital Twin Market, by Region, 2023-2028 (USD Million)
List of Figures
Figure 1 Building Twin Market Segmentation and Regional Scope
Figure 2 Building Twin Market: Research Design
Figure 3 Building Twin Market: Research Approach
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: (Demand Side) Revenue Generated by Players in Building Twin Market
Figure 7 Data Triangulation
Figure 8 Software Solutions to Hold Larger Market Share in 2024
Figure 9 Facility Management Segment to Register Highest CAGR During Forecast Period
Figure 10 Commercial Segment to Record Higher CAGR During Forecast Period
Figure 11 North America Accounted for Largest Market Share in 2023
Figure 12 Increasing Focus on Predictive Maintenance to Fuel Market Growth
Figure 13 Software Solutions Segment to Hold Larger Market Share in 2029
Figure 14 Facility Management Segment to Dominate Market in 2029
Figure 15 Commercial Segment to Register Higher CAGR During Forecast Period
Figure 16 China to Record Highest CAGR in Global Building Twin Market During Forecast Period
Figure 17 Building Twin Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Building Twin Market: Impact Analysis of Drivers
Figure 19 Building Twin Market: Impact Analysis of Restraints
Figure 20 Building Twin Market: Impact Analysis of Opportunities
Figure 21 Building Twin Market: Impact Analysis of Challenges
Figure 22 Trends/Disruptions Impacting Customers’ Businesses
Figure 23 Indicative Pricing Trend of Key Players, by End-user (USD)
Figure 24 Indicative Pricing Trend of Building Twin Products Offered By Key Players, 2019-2023 (USD)
Figure 25 Average Selling Price Trend of Products/Solutions, by Region, 2019-2023 (USD)
Figure 26 Building Twin Market: Value Chain Analysis
Figure 27 Ecosystem Analysis: Building Twin Market
Figure 28 Investment and Funding Scenario
Figure 29 Number of Patents Applied and Granted for Building Twins, 2014-2023
Figure 30 Import Data for HS Code 851769-Compliant Products, by Country, 2018-2022 (USD Million)
Figure 31 Export Data for HS Code 851769-Compliant Products, by Country, 2018-2022 (USD Million)
Figure 32 Building Twin Market: Porter's Five Forces Analysis
Figure 33 Influence of Stakeholders on Buying Process, by End-user
Figure 34 Key Buying Criteria, by End-user
Figure 35 Building Twin Types
Figure 36 Building Twin Market, by Offering
Figure 37 Software Solutions Segment to Dominate Market in 2024
Figure 38 Facility Management Segment to Account for Largest Market Share in 2024
Figure 39 Building Twin Market, by End-user
Figure 40 Commercial Segment to Account for Larger Market Share in 2024
Figure 41 Building Twin Market, by Region
Figure 42 China to Register Highest CAGR in Global Building Twin Market During Forecast Period
Figure 43 North America to Dominate Global Building Twin Market in 2024
Figure 44 North America: Building Twin Market Snapshot
Figure 45 Europe: Building Twin Market Snapshot
Figure 46 Asia-Pacific: Building Twin Market Snapshot
Figure 47 Building Twin Market: Revenue Analysis of Top Companies, 2019-2023
Figure 48 Building Twin Market Share Analysis, 2023
Figure 49 Valuation of Key Players, 2023
Figure 50 Financial Metrics (EV/EBITDA), 2023
Figure 51 Brand/Product Comparison
Figure 52 Building Twin Market: Company Evaluation Matrix (Key Players), 2023
Figure 53 Building Twin Market: Company Footprint
Figure 54 Building Twin Market: Company Evaluation Matrix (Startups/SMEs), 2023
Figure 55 Siemens: Company Snapshot
Figure 56 Microsoft: Company Snapshot
Figure 57 Robert Bosch GmbH: Company Snapshot
Figure 58 Dassault Systèmes: Company Snapshot
Figure 59 Amazon Web Services, Inc.: Company Snapshot
Figure 60 Autodesk Inc.: Company Snapshot
Figure 61 IBM: Company Snapshot
Figure 62 Oracle: Company Snapshot
Figure 63 Ansys, Inc.: Company Snapshot
Figure 64 SAP: Company Snapshot
Figure 65 Bentley Systems, Incorporated: Company Snapshot

Companies Mentioned

  • Siemens
  • Microsoft
  • Robert Bosch GmbH
  • Dassault Systèmes
  • Amazon Web Services, Inc. (AWS)
  • Autodesk Inc.
  • IBM
  • Oracle
  • Ansys, Inc.
  • SAP
  • Bentley Systems, Incorporated
  • Matterport Inc.
  • Trimble Inc.
  • ABB
  • Johnson Controls
  • Schneider Electric
  • Esri
  • Navvis
  • Novacene IoT Ltd.
  • Apriori
  • Software AG
  • Integrated Environmental Solutions Limited
  • Twinsity GmbH
  • Twinzo
  • Cityzenith

Table Information