The global digital twin market is expected to reach $15 billion by 2023, with a compound annual growth rate (CAGR) of 37 percent between 2017 and 2023. Major companies such as General Electric, IBM, and Microsoft are using digital twin technology to optimize products and services, perform predictive maintenance and health monitoring, and design new products. Gartner named digital twins as one of the top 10 technology trends for 2019, noting that the focus of this technology will be in IoT.