Description
At its core, the digital twins market is comprised of virtual items that are mapped to a physical thing such as equipment, robot, or virtually any connected business asset. This mapping of the digital world to real-world assets 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. Mind Commerce 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.
Digital Twins Market Dynamics
There are many potential use cases within the digital twins market including monitoring, simulation, and remote control of physical assets with virtual objects. Solutions focus on Part, Product, Process, and System Twinning. Mind Commerce sees digital twinning playing a key role in many IoT operations processes including IoT application development, testing and control.
High ROI Cyber-to-Physical Solutions for Leading Industries to Drive Digital Twins Market
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. The digital twins market will therefore be especially important in the case of mission-critical applications.
Digital Twins Market Report
This report evaluates the digital twins market including 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 digital twins market forecasts covering solutions in many market segments and use cases including manufacturing simulations, predictive analytics, and more from 2021 to 2026 with global, regional, and major country forecasts.
