With the advent of Internet of Things (IoT) and data analytics, digital twins have become cost effective to implement and is even more efficient, making it as one of the top technologies sorted out. Companies find various innovative use cases to utilize the technology as there will be billions of connected devices in next few years, thereby billions of digital twins can be represented.
To get a competitive advantage, companies need to look at digital twin as the opportunity to understand the customer needs, improve the existing products or services and to develop new products, thereby enhancing the customer experience. The possibility to design, develop and repair products with the data-driven simulations will be a game changer for companies who provide analytics, simulations, IoT solutions, operational technology providers and sensing device manufacturers.
Market trends affecting the technology
Current applications and potential use cases to consider
Technology adoption in various industries
Key concerns to address and Market opportunities for the players