Smart Innovators: Digital Twins For Industrial Facilities
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Executive Summary
Digital twins are part of the Industry 4.0 megatrend and are primarily used today for equipment design and testing. Only in the past two years has the concept of facility-wide digital twins gathered momentum due to the complexity involved in modelling and simulating the performance of industrial facilities. Reflecting the relative newness of this technology in the industrial space, vendors offer digital twin software at five different levels of sophistication – from digital twins that integrate data from various sources to one capable of acting autonomously. Verdantix expects the market for plant-level digital twins to grow slowly over the next five to 10 years with high-risk, asset-intensive industries being the early adopters. This report provides buyers of digital twin software at industrial facilities with an overview of the current state of the market and an assessment of different vendors who offer digital twin value propositions.
Table of contents
Smart Innovators: Digital Twins For Industrial FacilitiesThe Digital Twin Concept Forms Part Of The Industry 4.0 Megatrend
Four Technology Capabilities Underpin Digital Twin Software For Industrial Facilities
Technology Vendors Offer Digital Twins At Five Different Levels Of Sophistication
Digital Twins Deliver Enhanced Value Propositions To Multiple Stakeholders
Digital Twin Software Must Overcome Adoption Hurdles To Increase Market Penetration
Technology Executives At Industrial Firms Must Overcome Five Barriers To Digital Twin Success
Crossing The Chasm Requires A Concerted Effort To Find Digital Twin Innovators
Table of figures
Figure 1. Digital Twins For Industrial Facilities – Levels of SophisticationFigure 2. Digital Twins For Industrial Facilities – Relevance For Key Stakeholders
Figure 3. Digital Twins For Industrial Facilities – Uptake By Asset Type
Organisations mentioned
ABB, Abu Dhabi National Oil Company, Accenture, Airbus, Akselos, ANSYS, AspenTech, Autodesk, AVEVA, Bentley Systems, Boeing, Chevron, Cority, Covestro, Dassault Systèmes, Deloitte, DNV GL, Emerson, Esri, eVision, GE, GE Aviation, GE Digital, Google Maps, Hexagon PPM, IBM, IBM Services, Llama Zoo, OpenStreetMap, Oracle, Petrofac, Petrotechnics, PTC, RAP International, Rio Tinto, RiskPoynt, Rolls-Royce, Royal Dutch Shell, Schlumberger, Seebo, Siemens, Sphera, Tata Consultancy Services, TenForce, Tesla, VisiumKMS, Volkswagen, Whirlpool, Wolters Kluwer, Worley ParsonsAbout the authors
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