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The digital twin market is registering a CAGR of 34.48% over the forecast period. The surge in adoption of 3D printing technology, the increasing demand for digital twins in the healthcare and pharmaceutical industries, and the growing propensity toward the adoption of IoT solutions across various industries are anticipated to drive the adoption of such solutions during the forecast period. The application of digital twins lies in improving collaboration and workflows across different types of groups, like product design, sales and maintenance teams, and engineering disciplines.