DIGITAL TWIN MARKET ANALYSIS
Digital Twin Market: Regional Insights
The global digital twin market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The market for digital twin in North America accounted for the largest share in 2016. This is attributed to increasing adoption of IoT in a single smart interface of smartphones, PCs, and tablets. According to Coherent Market Insights analysis, in 2015, about 15.4 billion IoT installed base were there, globally. Also, rising cybercrimes is another factor expected to fuel demand for integrated IoT security solutions for application in various sectors such as government, defense, and healthcare. For instance, in May 2017, the WannaCry Ransomware attack affected number of computers from Taiwan to the U.K. and the U.S. Therefore, increasing cyber threat demands IoT security solutions. This is expected to accelerate growth of regional IoT market, which will have a positive impact on the global digital twin market growth.
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