Market insight

Three live examples of the digital twin concept

| Author / Editor: Ahlam Rais / Ahlam Rais

At least half of the manufacturers with annual revenues greater than 5 billion dollars will have at least one digital twin initiative for either products or assets by 2020.
At least half of the manufacturers with annual revenues greater than 5 billion dollars will have at least one digital twin initiative for either products or assets by 2020. (Source: Deposit Photos)

The digital twin technology is not new infact it has been extensively used by a few leading organisations for some time now. Machine Market International offers an insight into some of these firms and also projects the growth of this innovative technology in the near future.

Manufacturers are always on the lookout for more advanced technologies that help them to optimise production and reduce costs. Especially in today’s digital world, production processes have to become smarter and more efficient. This is where digital twin comes in. A 2018 survey by Gartner revealed that 48 % of organisations that implement Internet of Things (IoT) are already using, or intend to make use of the digital twin technology.

It also mentioned that the number of participating organisations i.e. 202 respondents across China, U.S., Germany and Japan that will make use of the digital twin concept will triple by 2022. This shows the magnitude of this innovative concept. Gartner also reported that at least half of the manufacturers with annual revenues greater than 5 billion dollars will have at least one digital twin initiative for either products or assets by 2020. It also predicted that the concept should reach widespread adoption within the next five or 10 years.

Experience ‘umati’ at EMO Hannover

Industry trend

Experience ‘umati’ at EMO Hannover

22/07/2019 - EMO Hannover is the world’s most important show for the metalworking industry. Held every alternate year, the trade fair offers an insight into the latest technological happenings in the industry and this year is no different. At EMO 2019, visitors can witness the live demonstration of the universal machine tool interface - umati which has recently gained huge popularity amongst industry players. More than 50 companies from seven different countries will be participating at the live demo to showcase the advantages of this unique solution. read...

Companies implementing the digital twin technology

The American multinational conglomerate General Electric Company has developed about a million digital twins globally and this comprises of various assets from industries such as power, energy, aviation, and healthcare as well as assets from its own factories and processes.

In the automotive field, Tesla, one of the major players producing has a digital twin for every car it manufactures. The firm identifies the digital twin for each vehicle based on the car’s vehicle identification number (VIN). With the assistance of the technology, data is constantly sent back and forth from the car to the factory.

The machine tool wave

Industry perspective

The machine tool wave

13/01/2018 - The machine tool sector will be growing further, with new trends and technological advancements emerging. Be excited to read on about this expanding market and its role in two of the pioneer countries of the sector China and Germany. read...

Lastly, one of the leading energy companies Chevron Corporation is using digital twins for its oil fields and refineries in order to predict maintenance problems at these sites. The company also has plans to adopt this technology for its high-value equipment and for this purpose, intends to install sensors on the equipment by 2024.

All the above mentioned companies have saved millions of dollars with the use of the digital twin technology in their processes and hence, showcase the huge potential of this concept across diverse industrial sectors. Digital twin technology is the need of the hour!

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