The Asia Pacific Supply Chain Digital Twin Market would witness market growth of 12.3% CAGR during the forecast period (2023-2030).
SCDTs provide real-time visibility into transportation routes, shipment tracking, and warehouse operations, leading to optimized routes, reduced transportation costs, and improved delivery times. Enhanced supplier collaboration is possible through shared access to the digital twin, streamlining communication and coordination across the supply chain. Digital twins can monitor product quality and identify defects or deviations in real time, ensuring adherence to quality standards. SCDTs can help assess the environmental impact of supply chain decisions, supporting sustainability initiatives and reducing the carbon footprint.
Furthermore, increasing integration of artificial intelligence (AI) and machine learning algorithms into SCDTs enhances predictive capabilities, allowing companies to identify patterns, optimize processes, and make data-driven decisions. Blockchain technology has made supply networks more transparent and traceable. Combined with SCDTs, it can provide an immutable record of transactions and product movement. Edge computing facilitates real-time data processing and analysis near the data source. This capability allows Smart City Data Technologies to efficiently capture and analyze data from Internet of Things (IoT) devices and sensors.
As per the factsheet published by the Indian Ministry of Heavy Industries, in the automobile industry in India, two-wheelers and passenger cars accounted for 77% and 18% market share, respectively, during the year 2021-22. Small and midsized cars dominate passenger car sales. The export of automobiles increased from 4,134,047 in 2020-21 to 5,617,246 in 2021-22, showing a growth rate of 35.9%. India has set a target to increase the size of its automobile industry to Rs. 15 lakh crores by 2024, effectively doubling its current size. There has been an FDI inflow of $33.77 billion in the industry from April 2000 to September 2022, around 5.48% of the total FDI inflows in India during the same period. Owing to these factors, the demand for supply chain digital twin will increase in the Asia Pacific region.
The China market dominated the Asia Pacific 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 $412.4 million by 2030. The Japan market is registering a CAGR of 11.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 13% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Supply Chain Digital Twin Market is Predict to reach $5.3 Billion by 2030, at a CAGR of 11.5%
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.
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