The future of simulation is here! Imagining developing a product with the power of simulation is creating ready-to-go products and catered further is the power of Digital Twin. Digital twin lately is bringing a new simulation reality which is ahead fostering Industry 4.0. Today Digital twin is not just used in manufacturing but sharing its potential in emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Cognitive Technologies and Data Analytics. In this article, we will try to define and explore the benefits of Digital Twin and how India is behaving towards this miracle technology.
What is Digital Twin?
A digital replication and mock-up of a physical design or object simulated to help develop it easily and dynamically is a Digital Twin. A technology which laid its foundation in National Aeronautics and Space Administration(NASA) helping develop simulated space ships and space crafts to easily identify glitches is now changing every aspect of technology. The potential is still nascent as every sector in future is said to be using Digital twin some or the other way. The digital twin is developed to receive input from sensors gathering data from a real-world counterpart enabling to simulate the physical object in real-time deriving advanced performances and address the real problems in research or sometimes end product.
Benefits of Digital Twin
Design Prototypes to Real Products: The major benefit of the digital twin is that it enables to design a prototype of physical products and migrate it to in the virtual world helping solve real-time glitches.
Product Feedback: Digital Twin can also provide feedback as the product gets into the development process and even build a prototype before its physical existence. The power of IoT which has made Digital Twin flourish and a reality today for modern products is helping it gather data and also making it more accessible and also affordable.
Pre-Operation Efficiency: Now with the power of Digital Twin pre-operations, efficiency and discovering issues are at your fingertips addressing the real-world problems. To further understand the limitless power of Digital Twin, businesses should also recognize their efficiency accordance and the perfect strategy to be competitive in this digital-crony world.
Digital Twin with the Power of Internet of Things
Real-Time Solution: As known that digital twins can give real-time solutions to practical problems to any equipment, product or physical asset, the power of IoT can help analyse not just data but connect you to solve problems remotely and to connect various systems interacting to solve the problem.
Industries Allying with the Power of Digital Twin: IoT with Digital twin for quite a time now has been helpful in manufacturing to reduce maintenance issues and ensure optimal production output. Not to forget the healthcare industry has been opting this technology to enhance patient care. Few experts have stated that it is regularly updated with sensor data, often through IIoT connectivity to detect anomalies and improve model accuracy.
Digital Twin Growth Trajectory
In 2019, large enterprises were the largest digital twin market category. With the increasing adoption of IIoT, the global digital twin market share is expected to witness a 31.9% CAGR between 2020 and 2030 (forecast period). At this rate, the revenue generated in the industry would rise from $3,645.1 million in 2019 to $73,245.4 million by 2030 reports P&S Intelligence. Organizations are utilizing this technology to automate operations, gather real-time information, schedule maintenance, and forecast downtime. Further, cloning a product digitally helps users in making their operations more efficient. With digital transformation, large companies are using digital twins for predicting faults at an early stage, developing better products, and scheduling timely maintenance. Asia-Pacific (APAC) would grow at the highest pace in the digital twin market till 2030. This is attributed to the surging investments in the IT sector, economic prosperity, increasing number of government initiatives promoting the deployment of artificial intelligence (AI) and IoT, and technological advancements. The automotive division is expected to experience the fastest growth in the digital twin market during the forecast period. The automotive industry quickly is embracing Industry 4.0 standards, which is why it is increasingly using data in the manufacturing process.
Digital Twin for the Indian Market
The Indian market can be aberrant though today housing massive Startups and Enterprises. Digital Twin can become an interesting catalyst. Resiliency and exploring opportunities with the power of technology are renaming ‘New India’. Revamping and recreating will be the key and perfect strategies on board to adopt and assimilate newer technologies to be competitive in the global market will some or the other way oblige digital-driven steps. Manufacturers are already benefiting from digital twins. For example, manufacturers of passenger vehicles create digital twins of the vehicles sold. While vehicles are simulated in factories, data transmitted via sensors from vehicles on the road are interpreted by artificial intelligence (AI) to evaluate their functioning.