DUBLIN--(BUSINESS WIRE)--The "Digital Twins Market by Technology, Twinning Type, Cyber-to-Physical Solutions, Use Cases and Applications in Industry Verticals 2023 - 2028" report has been added to ResearchAndMarkets.com's offering.
This report evaluates digital twinning technology, solutions, use cases, and leading company efforts in terms of R&D and early deployments.
The report assesses the digital twin product and service ecosystem including application development and operations. This includes consideration of use cases by industry vertical.
The report also analyzes technologies supporting and benefiting from digital twinning. The report also provides detailed forecasts covering digital twinning solutions in many market segments and use cases including manufacturing simulations, predictive analytics, and more from 2023 to 2028 with global, regional, and major country forecasts.
Select Report Findings:
- We found 47% of IT decision makers have never heard of digital twins
- Digital twin supported solutions in smart cities will reach $5.2 billion by 2028
- Over 94% of all IoT Platforms will contain some form of digital twinning capability by 2028
- Digital twinning will become standard feature/functionality for IoT Application Enablement by 2028
- Leading digital twin solutions involve Asset Twinning, Component Twinning, System Twinning, Process and Workflow Twinning
- Over 96% of vendors recognize the need for IIoT APIs and platform integration with digital twinning functionality for industrial verticals
- Over 42% of executives across a broad spectrum of industry verticals understand the benefits of digital twinning and 59% of them plan to incorporate within their operations by 2028
A digital twin is a virtual object representation of a real-world item in which the virtual is mapped to physical things in the real world such as equipment, robots, or virtually any connected business asset. This mapping in the digital world is facilitated by IoT platforms and software that is leveraged to create a digital representation of the physical asset.
The digital twin of a physical asset can provide data about its status such as its physical state and disposition. Conversely, a digital object may be used to manipulate and control a real-world asset by way of teleoperation. The publisher of this report sees this form of cyber-physical connectivity, signaling, and control as a key capability to realize the vision for Industry 4.0 to fully digitize production, servitization, and the `as a service` model for products.
There are many potential use cases for digital twinning including monitoring, simulation, and remote control of physical assets with virtual objects. Solutions focus on Part, Product, Process, and System twinning. Leading digital twin solutions involve Asset Twinning, Component Twinning, System Twinning, Process and Workflow Twinning. We see digital twinning playing a key role in many related IoT operations processes including IoT application development, testing, and control.
The implementation of digital twins will also enable distributed remote control of assets, which will place an increasingly heavy burden on IoT Identity management, authentication, and authorization. IoT authentication market solutions are also important in support of the "things" involved in IoT, which vary from devices used to detect, actuate, signal, engage, and more. This will become particularly important with respect to digital twin solution integration.
As reflected by the Digital Twin Consortium, we see some of the key industries to lead cyber-to-physical integration and solutions include aerospace, healthcare, manufacturing, military, natural resources, and public safety sectors. In terms of integrating digital twin technology and solutions with telecommunications and enterprise infrastructure, we see a need for careful planning from a systems integration, testing, and implementation perspective. This will be especially important in the case of mission-critical applications.
Companies Mentioned
- ABB
- Allerin Tech Pvt. Ltd.
- Altair Engineering, Inc.
- Amazon Web Services
- ANSYS
- Aucotec AG
- Autodesk Inc.
- Bentley Systems, Incorporated
- CADFEM GmbH
- Cisco Systems
- Cityzenith
- Cosmo Tech
- Dassault Systems
- Digital Twin Consortium
- Digital Twin Technologies
- DNV GL
- DXC Technology
- Eclipse Foundation
- Emerson
- Emesent
- Faststream Technologies
- FEINGUSS BLANK GmbH
- Flowserve
- Forward Networks
- General Electric
- Hitachi Ltd.
- Honeywell
- HP
- IBM
- Industrial Internet Consortium
- Intellias
- Invicara
- KBMax
- Lanner Electronics
- Microsoft
- National Instruments
- NavVis
- Oracle
- PETRA Data Science
- Physical Web
- Pratiti Technologies
- Prodea System Inc.,
- PTC
- QiO Technologies
- Robert Bosch
- SAP
- Schneider
- SenSat
- Siemens
- Sight Machine Inc.
- Simplifa GmbH
- Softweb Solutions Inc.
- Sogeti Group
- SWIM.AI
- Synavision
- Sysmex Corporation
- TIBCO Software
- Toshiba Corporation
- UrsaLeo
- Virtalis Limited
- Visualiz
- Wipro Limited
- XenonStack
- Zest Labs
Key Topics Covered:
1.0 Executive Summary
2.0 Introduction
2.1 Overview
2.2 Related Technologies and Impact on Digital Twinning
2.3 Potential Application and Outcome Analysis
2.4 Digital Twinning Service Ecosystem
3.0 Digital Twins Company Assessment
4.0 Digital Twins Market Analysis and Forecasts 2023 to 2028
5.0 Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/5xr8un
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