Dublin, April 08, 2025 (GLOBE NEWSWIRE) -- The "Digital Twin Financial Services and Insurance Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The digital twin financial services and insurance market size has grown rapidly in recent years. It will grow from $5.1 billion in 2024 to $6.07 billion in 2025 at a compound annual growth rate (CAGR) of 19%. The growth in the historic period can be attributed to increased volume of financial data, advances in data analytics and simulation technologies, regulatory compliance and risk management needs, digital transformation in financial services, growth in insurtech innovations.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. North America was the largest region in the digital twin financial services and insurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The digital twin financial services and insurance market size is expected to see rapid growth in the next few years. It will grow to $12.03 billion in 2029 at a compound annual growth rate (CAGR) of 18.7%. The growth in the forecast period can be attributed to adoption of blockchain for transparent financial transactions, expansion of personalized financial planning solutions, increased use of digital twins for fraud detection, emphasis on real-time analytics in financial services, rise of tokenization and digital assets in financial services. Major trends in the forecast period include integration of artificial intelligence in digital twins, simulation-based scenario planning in finance, digital twins for customer journey mapping in insurance, cybersecurity simulation and threat detection, integration of digital twins with robotic process automation (RPA).
The rising urbanization around the world is expected to propel the growth of the digital twin financial services and insurance market going forward. For instance, according to the United Nations Department of Economic and Social Affairs, a US-based government agency, 68% of the global population is expected to live in urban areas by 2050. Therefore, the rising urbanization and increasing disposable income is driving the digital twin financial services and insurance market growth.
Increase in cloud adoption is expected to propel the digital twin financial services and insurance market going forward. For instance, in April 2023, according to G2. com, a USA-based business software and services provider company, 85% of organizations is expected to have adopted cloud by 2025. 4 out of 5 enterprises plan to increase their cloud investment despite economic uncertainties and 75% of enterprises are focusing on developing cloud-native applications in 2023. Therefore, increase in cloud adoption will drive the digital twin financial services and insurance market.
The increasing adoption of cloud technologies is a key trend gaining popularity in the digital twin financial services and insurance market. For instance, in 2022, according to hybrid cloud adoption study conducted by Hornetsecurity, surveyed 900 IT professionals primarily based in North America and Europe, found that 93% of businesses were adopting a hybrid of cloud and on-premise solutions or migrating fully to the cloud within 5 years.
Major companies in the digital twin financial services and insurance market focused on developing innovative products such as Digital Twin solution to sustain their position in the market. For instance, in September 2023, Matera, a US-based payment solutions company launched a Digital Twin solution which enables banks and credit unions to accelerate their digital transformation while lowering operating expenses by utilizing on-premise cloud technologies. With built-in redundancy and the ability to run on any cloud or database provider, the Digital Twin solution offers financial institutions a low-risk, straightforward route to the cloud. It also offers a secure and adaptable platform, removing the risk associated with depending on a single provider. Banks can select the cloud infrastructure that best meets their requirements thanks to this flexibility, which also guarantees the dependability and accessibility of their digital transactions.
Report Scope
Markets Covered:
1) By Type: System Digital Twin; Process Digital Twin
2) By Technology: IoT and IIoT; Artificial Intelligence and Machine Learning; 5G; Big Data Analytics; Blockchain and Augmented Reality; Virtual Reality; Mixed Reality
3) By Deployment: Cloud; On-Premises
4) By Application: Bank Account Funds Checking; Digital Fund Transfer Checks; Policy Generation; Other Applications
Subsegments:
1) By System Digital Twin: Infrastructure Models; IT System Simulations; Application Performance Monitoring
2) By Process Digital Twin: Customer Journey Mapping; Risk Management Simulations; Operational Process Modeling
Key Companies Profiled: International Business Machines Corporation; Atos SE; Microsoft Corporation; Capgemini SE; Ansys Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Reasons to Purchase:
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Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $6.07 Billion |
| Forecasted Market Value (USD) by 2029 | $12.03 Billion |
| Compound Annual Growth Rate | 18.7% |
| Regions Covered | Global |
Major Companies Featured in this Digital Twin Financial Services and Insurance Market Report
- International Business Machines Corporation
- Atos SE
- Microsoft Corporation
- Capgemini SE
- Ansys Inc.
- NVIDIA Corporation
- Accenture plc
- Infosys Limited
- Wipro Limited
- Cognizant Technology Solutions Corporation
- DXC Technology Company
- Tata Consultancy Services Limited
- Genpact Limited
- HCL Technologies Limited
- Mindtree Limited
- Larsen & Toubro Infotech Limited
- Virtusa Corporation
- Zensar Technologies Limited
- Mphasis Limited
- Hexaware Technologies Limited
- Tech Mahindra Limited
- Fidelity National Information Services Inc.
- Fiserv Inc.
- Mastercard Incorporated
- Visa Inc.
- American Express Company
For more information about this report visit https://www.researchandmarkets.com/r/de9is7
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