The global digital twin financial services and insurance market grew from $3.6 billion in 2022 to $4.31 billion in 2023 at a compound annual growth rate (CAGR) of 19.6%. The digital twin financial services and insurance market is expected to grow to $8.28 billion in 2027 at a CAGR of 17.7%. The digital twin financial services and insurance refers to a technology used for assisting customers with loan management, mitigating risks, policy buying and management, and more. Different technologies such as IoT and IIoT, artificial intelligence and machine learning, 5G, big data analytics, blockchain, augmented reality, virtual reality, and mixed reality are deployed in the cloud and on-premises for various applications. The increasing adoption of cloud technologies is expected to propel the growth of the digital twin financial services and insurance market going forward.
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