According to the “2023–2027 Digital Twin Market Report,” four significant trends are shaping the growth of the digital twin market.
Trend 1: Deploying Digital Twins to Achieve Sustainable Development Goals
Many companies are exploring digital twins to meet sustainable development goals. With the ability to simulate real-world conditions and provide real-time information, digital twins enable organizations to optimize resource usage, reduce carbon emissions, and enhance supply and transportation networks.
Trend 2: Digital Twins as Virtual Sensors in Complex Conditions
Digital twins serve as virtual sensors, capturing data that physical sensors may struggle to obtain due to impracticality, high costs, or safety concerns. Companies are increasingly building digital twin models to simulate hardware, calculate data based on various conditions, and gather insights from complex equipment. This not only allows for data collection from intricate devices but also enables operators to monitor equipment performance and predict maintenance and downtime.
Trend 3: Cloud-based Partnerships — Collaboration Between Large-scale Enterprises and OT and Simulation Experts
In recent years, major cloud providers like AWS and Microsoft have introduced digital twin platforms such as AWS IoT TwinMaker and Azure Digital Twins. These platforms facilitate the connection of various data sources and the construction of digital twin topologies. Recognizing the need for end-to-end solutions, these companies are collaborating with OT and simulation experts to enhance their networks.
Trend 4: Initiatives to Promote Digital Twin Interoperability Among Different Vendor Systems
Ensuring integration standards among various digital twin technology providers is crucial for building cross-system digital twins. Standards enable manufacturers to offer services applicable to other digital twin technologies and software. To address this need, several measures have been taken globally:
Industrial 4.0 platforms and CESMII
DTC Digital Twin Interoperability Framework
Collaboration between DTC and IDTA
Cooperation between DTC and OPC Foundation
This article was originally published by Ulink Media, the organizer of IOTE EXPO (IoT Expo in China).
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