Digital Twin in Finance Market worth $0.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 27, 2023 /PRNewswire/ -- The global Digital Twin in Finance Market size is projected to grow from USD 0.1 billion in 2023 to USD 0.5 billion by 2028, at a CAGR of 34.8% during the forecast period, according to a new report by MarketsandMarkets™. The growing adoption of industry 4.0 and need to test new market scenarios in real time to reduce risks will drive the growth of digital twin in financial market. In the banking sector, Industry 4.0 technologies have unlocked new dimensions. With Industry 4.0, new banking services and opportunities can be launched to improve business performance and end customer experiences.

Browse in-depth TOC on "Digital Twin in Finance Market"

102 - Tables
44 - Figures
161 - Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54154446

By offering, service segment is expected to grow with the highest CAGR during the forecast period

Digital twin services provide a range of benefits to companies by utilizing digital technologies to create a virtual replica of a physical asset or system. These services can be used during the design and engineering phase to simulate various scenarios and test different configurations, as well as for real-time monitoring and management of physical assets to identify potential issues and optimize performances.

By end-use industry, the BFSI segment is expected to have largest market share during the forecast period

Banks and financial institutions face multiple challenges from different sources, which compels them to adopt innovative and new approaches. One of the biggest challenges that they face is managing the massive volumes of data across businesses. This data comes from various sources, including customer transactions, market data, and internal operations. There is also ongoing uncertainty about who owns this data and where it should be stored, particularly with the rise of cloud computing and other digital technologies.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=54154446

Asia Pacific is expected to have the highest growth rate during the forecast period

The Asia Pacific has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. Many Asia Pacific countries have seen a rise in the number of FinTech startups, which has led to disruptions in the digital banking ecosystem. However, to keep up with this rapid pace of advancements, traditional systems and processes involved in financial operations are undertaking digital transformation projects. Strong banking capabilities, including digital offerings, strong financial positions, and digital structures, are expected to drive the growth of the Digital Twin in Finance Market in the Asia Pacific region.

Market Players

The major players in the Digital Twin in Finance Market are IBM (US), Microsoft (US), Capgemini (France), SAP (Germany), Ansys (US), Altair (US), NVIDIA (US), NTT Data (Japan), Oracle (US), Deloitte (UK), Verisk (US), Cosmo Tech (France), NayaOne (UK), VSOptima (US), Merlynn (US), Piprate (Ireland), and TADA (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the Digital Twin in Finance Market.

Browse Adjacent Market: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

Browse Other Reports:

Green Technology and Sustainability Market - Global Forecast to 2027

Traffic Management Market - Global Forecast to 2027

Intelligent Process Automation Market - Global Forecast to 2027

Smart Building Market - Global Forecast to 2026

Digital Lending Market - Global Forecast to 2026

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Research Insight:  https://www.marketsandmarkets.com/ResearchInsight/digital-twin-in-finance-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/digital-twin-in-finance.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg