Indian MSMEs, which employ millions of people and contribute 30% of the country's GDP, are the backbone of the economy and encompass industries like pharmaceuticals, technology, electronics, textiles, petrochemicals, and automobiles. Many, nevertheless, have trouble competing and growing. Market research helps SMEs develop strategies for long-term success by offering insightful information about trends, competition, and demand.
The global Digital Twin market is projected to expand from $21.1 billion in 2024 to $119.8 billion by 2029, achieving a remarkable CAGR of 41.6%. Digital twins, driven by advancements in IoT, AI, and cloud computing, are revolutionizing manufacturing, healthcare, energy, and smart cities through predictive analytics and real-time optimization.
The Smart Factory represents the future of manufacturing, integrating advanced technologies like IoT, AI, and robotics to enhance productivity, quality, and sustainability. With real-time data and automation, these factories drive efficiency, adaptability, and environmental responsibility, positioning manufacturers for global competitiveness.