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Home Industry Verticals Manufacturing

Industry modernisation benefits from IIoT

FutureCIO Editors by FutureCIO Editors
June 10, 2021
Photo by ThisIsEngineering from Pexels

Photo by ThisIsEngineering from Pexels

Manufacturers need a range of capabilities to deploy digital twins, including CAD modelling, connectivity, cloud computing, IIoT software platforms, remote monitoring, hardware for shop-floor workers (tablets, AR glasses), physics-based simulation, machine learning, and systems integration.

This is because digital twins are not a technology, but a composition of solutions aimed at bridging the physical and digital worlds, from design through simulation, manufacturing, assembly, and after-sales service and support.

ABI Research forecasts the industrial digital twin market will grow from US$3.5 billion in 2021 to US$33.9 billion in 2030 at a 29% CAGR.

According to Ryan Martin, research director, ABI Research, digital twins are no longer a niche concept but rather becoming mainstream with the help of IIoT dashboards and near real-time reporting.

“The biggest changes in the last 12 months include pandemic response uplift alongside new requirements such as increased factory and shop floor automation; greater data transparency; real-time planning and change management; and better worker augmentation and remote support,” he added.

Market size

ABI Research estimates average global adoption of digital twins will reach 34.9% by 2026, supporting more than 10 million frontline workers in manufacturing.

The United States currently leads in both the adoption of digital twins and in products manufactured using digital twins. However, China has the potential to overtake the United States in terms of products manufactured using digital twins by 2024 under current conditions.

“Many vendors provide a few of the core products and services for digital twins very well, but few provide a customizable end-to-end solution,” continued Martin.

He identified some companies as providing the most complete solutions. These include Dassault Systèmes, Hitachi Vantara, PTC, and Siemens.

“Other companies with a prominent position are Ansys, Autodesk, GE Digital, and Microsoft, due to their work on standards through organizations like the Digital Twin Consortium (DTC),” he added.

There is rising interest in solutions that can be deployed and configured versus built from the ground up.

“Eventually, this will lead to the rise of standards and model libraries/digital twin marketplaces that accelerate and ease the deployment process,” concluded Martin.

Related:  There is a future for industrial blockchain – really!
Tags: ABI ResearchautomationIndustrial IoT
FutureCIO Editors

FutureCIO Editors

Strategic Insights for Chief Information Officers

FutureCIO is about enabling the CIO, his team, the leadership and the enterprise through shared expertise, know-how and experience - through a community of shared interests and goals. It is also about discovering unknown best practices that will help realize new business models.

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