A digital twin technology may sound futuristic and enigmatic; however, it’s just another method of Industry 4.0. Digital twin platforms gather the trendiest technologies into driving and engaging solutions with huge prospects across various sectors. The implementation of digital twins is increasing from healthcare to manufacturing to retail.
So what is digital twin technology?
The concept of a digital twin is not new. In simple terms, a digital twin represents a product, process, or service via many IoT devices. This convergence of the physical and the virtual world provides an analysis of data and monitoring systems to intercept difficulties before they appear, check downtime, and prepare for the future using simulations.
According to Gartner Research, “48% of companies using IoT are also using or propose to use digital twins in 2018. Furthermore, 50 % of large manufacturers will have at least one digital twin drive started by 2020, and the number of companies using them will triple by 2022.
How do Digital Twins work?
Digital twins, the virtual matches of the physical assets, are generated as digitized copies of equipment/machines or physical sites with sensors. These digital assets can be made even before an asset is made physically.
Firstly, smart components that use sensors to collect data regarding working conditions, real-time status, or location are integrated with a physical object. These parts are a cloud connected system that gets and processes all the data to monitor the sensors. This data is interpreted against industry and other contextual data. The constant data flow helps get the best potential insights and analysis about the asset, optimizing the business result. Therefore the digital twin will work as a simple form of physical equipment.
Digital Twins Applications:
The concept of a digital twin is the buzzword for most industries, which helps forecast the current status and future of physical assets by examining their digital counterparts. With Digital Twins, businesses can gain better insights on product execution, based on these observations, improve customer experience, and make better organizational and strategic decisions. We have begun discussing the significant applications of Digital Twins in the following sectors.
Digital Twin is poised to improve the current status of the manufacturing industry. The way products are designed, manufactured, and maintained is greatly affected by digital twins. It increases manufacturing performance and productivity while decreasing throughput times.
Digital Twins and IoT data can play a vital role in the healthcare industry from cost savings to patient monitoring, preventative maintenance, and personalized health care.
The automobile industry can use digital twins for building the virtual model of a connected vehicle. The vehicle’s behavioral and operational data can be captured and analyzes complete performance and related features. Apart from this, it assists in providing the customized services for the clients.
Now monitor, track, and manage industrial systems digitally with a digital twin’s implementation. Besides the operational data, the digital twins draw environmental data such as configuration, location, financial models, etc., which forecast movements and irregularities.
With the digital twin technology, businesses see opportunities as a blend of innovative and most influential tech trends coming up in the last years, representing the future of IoT Solutions and artificial intelligence. A digital twin can improve productivity, optimize methods, identify difficulties before they occur, and innovate for the future. If your company is interested in creating better business results and better results for everyone, digital twins are worth exploring.