The digital thread market is expected to be valued at USD 11.42 billion in 2024 and grow to USD 36.81 billion by 2030, with a CAGR of 21.5% during the forecast period. The rapid development of technologies such as IoT, Al, cloud computing, and big data analytics fuels the growth of the digital thread market; hence, every sector has adopted Digital Thread solutions.
PTC (US), IBM (US), Siemens (Germany), Dassault Systemes (France), Rockwell Automation (US), Autodesk, Inc. (US), Oracle (US), AVEVA Group Limited (UK), SAP (Germany), General Electric (US), Accenture (Ireland) are the leading global participants in the digital thread industry. The strategies adopted by major players to retain and enhance their market share include product development, collaborative collaborations, contractual agreements, and corporate expansions. These comprehensive organic and inorganic strategies have helped market players in global expansion by offering digital thread solutions.
Major Digital Thread companies include:
- PTC (US)
- IBM (US)
- Siemens (Germany)
- Dassault Systemes (France)
- Rockwell Automation (US)
- Autodesk, Inc. (US)
- Oracle (US)
- AVEVA Group Limited (UK)
- SAP (Germany)
- General Electric (US)
- Accenture (Ireland)
PTC is among the leading providers of computer software and services. The company offers a wide range of innovative products such as computer-aided design (CAD) modeling software, PLM, and service life cycle management (SLM) solutions. Various manufacturers use these solutions to create, operate, and service products. The company’s offering includes IoT solutions, which enable a secure connection with smart things, management and analysis of data, and quick creation of applications for customers.
IBM International Business Machines (IBM) Corporation provides integrated solutions that leverage IT and knowledge of business processes. The company operates its businesses through five segments—Software, Consulting, Infrastructure, Financing, and Others. The company provides software solutions that are designed to assist clients in becoming more data-driven, as well as automating, securing, and modernizing their environments. IBM offers digital thread solutions through its operation unit, Watsonx Internet of Things. IBM Watson IoT Platform connects IoT devices and aids in streaming a large volume of data to the cloud. IBM operates in more than 175 countries and is continuing to shift its business to the higher-value segments of enterprise IT.
Siemens is a global technology provider that specializes in manufacturing, infrastructure, transportation, and healthcare. Siemens operates through the following reportable business segments: Digital Industries, Smart Infrastructure, Siemens Healthineers, and Mobility. Focusing on electrification, automation, and digitalization, Siemens helps its customers connect the physical and digital worlds. Siemens provide digital thread solutions through its Digital Industries segment. Siemens operates in more than 200 countries. The company has a strong global presence, with R&D centers in more than 39 countries that focus on creating innovative solutions.
Dassault Systemes is a global software package that deals with 3D design, engineering, and product lifecycle management solutions. In fact, Dassault Systèmes is one of the major actors in the aerospace, automotive, manufacturing, and construction industrial sectors, providing vast software tools and platforms to aid in digital transformation and smooth product development processes. It provides software solutions that are based on the 3DEXPERIENCE platform to give businesses the power to create new breakthroughs in goods and services by virtue of experiencing them virtually.
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Rockwell Automation is the world's leading industrial automation and digital transformation company. Their more than a century of experience mixed with advanced technology and solutions will help businesses achieve more productivity, efficiency, and sustainability.The company services a wide variety of industries, including automotive, oil and gas, life sciences, food and beverage, and others. The company has three main business segments: Intelligent Devices, Software & Control, and Lifecycle Services. Rockwell Automation's digital thread offerings are fundamental to its Connected Enterprise strategy, and include solutions such as FactoryTalk InnovationSuite, MES, digital twin technologies, and comprehensive security.
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