Physical Meets Digital – How Digital Twins Help Future-proof Sectors
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Digital twins are increasingly gaining traction across a broad spectrum of business applications, given they can seamlessly connect data across physical and digital realms. They are virtual representations intended to accurately represent physical items such as assets, systems, and processes. They employ artificial intelligence (AI), real-time analytics, visualization, and simulation tools to identify, prevent, forecast, and optimize the physical environment. Its key benefits include increased inter-team collaboration, superior risk evaluation and production schedule, real-time remote monitoring, improved financial decision-making, and predictive analysis.
The digital twins thematic research report presents real-world innovation use cases and examples related to the implementation of digital twins by companies and startups across multiple sectors. It casts light on how tech-enabled innovations transform every segment of cross-sector use case applications.
Digital Twins – Classification
The main types of digital twins are component or part twins, asset twins, system or unit twins and process twins.
Component twins: These are the fundamental unit of a digital twin, representing the smallest example of a functional component.
Asset twins: Asset twins allow investigating the interplay of those components, resulting in a plethora of performance data that can be analyzed and transformed into meaningful insights.
System or unit twins: System twins give visibility into asset interactions and can identify the scope for performance improvements.
Process twins: They show how systems interact to produce a complete manufacturing facility. It assists in determining the specific timing schemes that impact overall effectiveness.
Digital Twins – Key Applications by Sector
Digital twins, paired with AI and machine learning (ML) capabilities, are increasingly becoming a powerful technology for businesses in various sectors to increase efficiency, mitigate risk, and enhance customer experience. Digital twins have applications in multiple sectors such as aerospace & defense, agriculture & forestry, automotive, construction & real estate, consumer, healthcare, industrial goods & machinery, oil & gas, power & utilities, retail, telecom, and transportation, infrastructure & logistics, among others.
Aerospace & Defense: Digital twins are used to scale earth and other celestial bodies, train personnel in operations and maintenance, simulate, weapons, analyze space weather, and inspect parts and structures.
Agriculture & Forestry: Digital twins are used to sustainably cultivate crops underwater, scale farmland and equipment, and help improve farming practices.
Automotive: Launch products in a decentralized environment, scale technologies for smart manufacturing, chassis diagnostics, and autonomous vehicles.
Leading Companies in the Digital Twins Theme
Some of the leading companies making their mark in the digital theme are Aforza, AgentRelay, Agronomeye, Blackshark, Cupix, Google, Hitachi Energy, Matterport, Mendix, Nokia, and Siemens among others.
For more insights on digital twins theme, download a free report sample
Digital Twins Overview
Key Classification | Component or Parts Twins, Asset Twins, System or Unit Twins and Process Twins |
Key Application by Sectors | Aerospace & Defense, Agriculture & Forestry, Automotive, Construction & Real Estate, Consumer, Healthcare, Industrial Goods & Machinery, Oil & Gas, Power & Utilities, Retail, Telecom, and Transportation, Infrastructure & Logistics, and Others |
Leading Companies | Aforza, AgentRelay, Agronomeye, Blackshark, Cupix, Google, Hitachi Energy, Matterport, Mendix, Nokia, and Siemens |
Scope
- Innovation Insights: innovation examples by each use cases segment of various sectors to present key trends.
- Vendor Map: represents a sample list of vendors in each use case highlighted in the report.
Reasons to Buy
- No surprise that technology has been a driving force in business transformation for years, but the term ‘emerging technologies’ has all of the sudden become the key catalyst to drive the next wave of innovation across sectors.
- The sense of urgency weighs different across different sectors, where the direct customer-facing sectors are at the forefront compared to other capital-intensive sectors. Companies in one sector can take cues from successful innovations in other sectors to either draw analogies with existing products, services, and processes or transfer strategic approaches for a revolutionary transformation.
- Against this backdrop, enterprises need to understand which emerging technologies are impacting their sector and how various companies are implementing them to meet various challenges.
- The innovation landscape report on digital twins published by GlobalData covers some of the key trends, use cases, and real-world examples related to the implementation of emerging technologies across several cross-sector applications.
AgentRelay
Agronomeye
AkerBP
Alder Hey
Amaury Sport Organisation
Amazon Web Services
Arvizio
ASO
Assai
Atos
Autodesk
Aveva
AWS
Bentley Systems
Blackshark
BMW
BP
China Mobile
CSIRO
Cupix
DeLorean
Diageo
DOW
EMA
Energy Market Authority
Eugenie
GlaxoSmithKline
GSK
GUESS
H&M
Halliburton
Hitachi Energy
Indian Oil Corporation Limited
IOCL
KLM
Kraft Heinz
Kroger
LeBLANC
Lumea
Mackevision
Manufacturing x Digital
Matterport
Maxar
Microsoft
MxD
NavVis
Nemo’s Garden
Nexar
NEXR
NFT IQ
Nippon Telegraph and Telephone Corporation
Nokia
NTT
Nvidia
Porsche
Regen
Schneider Electric
Sharper Shape
Siemens
SiteAware
SiteSee
Slingshot Aerospace
SP Group
Spinview
Streamwise
Synkrato
TfL
Tour de France
Transport for London
Twin Health
Unlearn
US Air Force Research Laboratory
Verge
vHive
Vizzio
Waabi
Table of Contents
Frequently asked questions
-
What are digital twins?
Digital twins are virtual representations intended to accurately represent physical items such as assets, systems, and processes.
-
What are the different types of digital twins?
The main types of digital twins are component or part twins, asset twins, system or unit twins and process twins.
-
What are the key application areas of digital twins?
Digital twins have applications in sectors such as aerospace & defense, agriculture & forestry, automotive, construction & real estate, consumer, healthcare, industrial goods & machinery, oil & gas, power & utilities, retail, telecom, and transportation, infrastructure & logistics, among others.
-
Which are the leading companies impacting the digital twins theme?
Some of the leading companies making their mark in the digital theme are Aforza, AgentRelay, Agronomeye, Blackshark, Cupix, Google, Hitachi Energy, Matterport, Mendix, Nokia, and Siemens among others.
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