The history of creating a replica of physical body dates back to yester years when miniatures were built before the actual development of products or buildings. The process was proven to be quite effective in the management of the development process. This, in turn, facilitated the development of different technologies such as 3D modeling, CAD/CAM, etc. As technology keeps on evolving, the era of digital reinvention has dawned upon us. From miniatures to a digital replica, we have come a long way and still have a long way ahead of us. Digital twin can rightly be named as one of the greatest achievements in our endeavor of digitization. It gives a digital identity to a physical embodiment and helps in the process of assessment, development, performance monitoring, etc. In a precise way, it is designed to increase the effectiveness of the product or process.
It has been assessed that large companies are already deploying the technology at a rapid pace. It is further anticipated to witness large-scale adoption over the next couple of years. The product can help these companies in achieving as high as 25% extra effectiveness with the use of digital twin technology. It ensures a connected and creative future of the organization. Digital twin, in conjunction with Internet of Things, is supposed to facilitate automation and digitization goals of organizations. It also points out at deviations from goals by providing real time data. These factors are motivating the management of large organizations to invest in the technology. The interoperability between physical and digital world is likely to catalyze the expansion of industry 4.0. This revolution in the industrial sector is supposed to be boosted by the developments in peripheral technologies such as sensors and artificial intelligence. So, right now, the trends indicate not only deployment but also developments. Talking about the technologies that are supposed to support the rising popularity of digital twin, one can never emphasize enough on the importance of big data analytics. The entire purpose is d creating a digital replica is to enhance performance. This is not possible without data. Thus, big data has a crucial role to play and its development is poised to influence the digital twin industry positively.
Industry Domains Investing in Digital Twin Technology
Some of the industry domains that are leveraging the technology to prompt own growth are as follows-
Building and Construction
The creation of a digital replica of the desired construction helps in saving time. It further facilitates in minimizing wastage, which has been paving the way for the technology to penetrate into the industry.
The automotive industry is seen to increase reliance over digital twin technology to increase efficiency. The developing regions are also expected to increase investments in the adoption of the technology in the near future.
Aerospace & Defense
The aerospace and defense industry is constantly endeavoring to bring innovations. The adoption of the technology is likely to gain momentum in the industry in the upcoming years.
Other industries that are witnessing a rise in investments in digital twin technology are – electrical and electronics, retail, healthcare, machine manufacturing, etc.
Geographical Representation of Adoption of Digital Twin Technology
North America is growing by leaps and bounds. The region is expected to witness an unprecedented rise in adoption of the technology due to the presence of both end users and vendors of the technology. Tech giants in the industry are projected to lead the popularity of the technology in the region. Europe is also anticipated to witness a growth in the adoption of the technology due to the rising use in automotive and other important industries.