With the increasing adoption of advanced technologies in almost everything around us, various industries like healthcare, automotive, aerospace, and military & defense, etc. have bid adieu to the conventional manufacturing processes and accepted new digital methods that can assist in running industrial operations smoothly. Besides AI, ML, and augmented reality, digital twin technology is yet another booming smart technique that’s transforming processes like ideation, production, and optimization.
What is Digital Twin?
A digital twin is a digital representation of any physical object, service, or process or replication of any process or element in the physical world that can collect data to predict its performance in the future. This technology uses machine learning, reasoning, and simulation to measure its lifespan which also helps in preventing the actual physical object or service from upcoming problems if any.
Digital twin technology is like a computer program that obtains information from the real world to generate simulations and examine the product’s performance. AI, big data, IoT, and software analytics are some of the key aspects that are integrated with this technology. Research Dive’s report on the global digital twin market states that the market is predicted to register a revenue of $125,717.4 million by 2030 and grow at 39.48% CAGR during the 2021-2030 forecast period.
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How are Manufacturing and Engineering Industries the Most Benefitted from This Technology?
The digital twin technology is widely used in multiple industries like healthcare- for predicting the outcome of surgical intervention, automotive sector- to capture the operations and behavioral data, and others. However, the manufacturing and engineering industries are specifically the most benefitted ones from the technology since they consist of complex and intense processes that require a simple representation for better understanding. Here’s a list of some projects that fall under the manufacturing and engineering industries that specifically require digital twin technology:
- Mechanically complex projects that include aircraft, automobiles, jet turbines, etc. Digital twin technology can improve the efficiency of complex and huge engines.
- Physically large projects like bridges, buildings, etc. that are built with strict engineering rules. The technology can estimate the lifespan of such projects and can prevent future damages.
- Manufacturing projects that require streamlined processes with greater efficiency. Digital twin technology can improvise the production line and monitor the overall process cycle.
Therefore, large-scale projects like building construction, automobile manufacturing, aircraft production, railcar design, etc. can achieve huge success with digital twins.
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Advantages of Digital Twins
Here are some major advantages of integrating digital twin technology with industrial operations:
- Enhanced Efficiency
After a new product goes into production, digital twins can replicate and control production systems to achieve peak efficiency throughout the manufacturing process.
- Improved Research & Development
Digital twins help in better research and development of products and use abundant data for estimating performance outcomes. The technology also offers insights that can help companies to initiate refinements before the production process.
- Reusing End-of-life Products
Digital twins also help manufacturers in deciding the potential use of products that have reached the end of their lifespan. Digital twins of such products can determine which materials should be harvested.
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Future of Digital Twin
Integrating digital twin technology can reinvent the asset-intensive industries that offer a real plus digital view of many complex processes, facilities, and equipment. Digital twins are capable of continuously learning new skills that can easily provide insights to the manufacturing companies for making products and processes more efficient.
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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