The global Digital Twin Market in terms of revenue was estimated to be worth $10.1 billion in 2023 and is poised to reach $110.1 billion by 2028, growing at a CAGR of 61.3% during the forecast period. Key Market Players The digital twin companies have implemented various types of organic and inorganic growth strategies, such as product launches,
Gartner clients can read more in "Survey Analysis: COVID-19 Use Cases Are Driving IoT Adoption, Powered by Innovations Like AI and Digital Twins." Additional analysis on current and future trends of AI will be presented during Gartner IT Symposium/Xpo 2020, the world''s most important conferences for CIOs and other IT
And it''s not like this sector is slowing down. The latest research from Gartner indicates that the digital twin market will cross the chasm in 2026 to reach $183 billion in revenue by 2031, with composite digital
Why Digital Twins Is a Top 10 Trend. Where Digital Twins Fits in the Top 10. Digital Twins Could Exist for Billions of Things. Digital Twin of an Organization. Actions. Appendix: The Other Top Strategic Technology Trends for 2019. Overview. Analysts: David Cearley, Brian Burke, Alfonso Velosa, Marc Kerremans.
Published: 28 January 2022 Summary Digital twins in oil and gas are emerging as the hub of next-generation digital asset operations. CIOs should develop modular architectures, integration skills and governance processes to make composite digital twins viable as enablers of business value.
Join your peers for the unveiling of the latest insights at Gartner conferences. Well-designed digital twins based on business priorities have the potential to significantly improve enterprise decision making. Enterprise architecture and technology innovation leaders must factor digital twins into their Internet of Things architecture and strategy.
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rated by Gartner, digital twins are recognised by public organisations as an effective tool to city planning and management. This paper presents our views on the benefits of digital
A digital twin is a dynamic software model of a physical thing or system that relies on sensor data to understand its state, respond to changes, improve
The use of AI-driven technology in the form of a digital twin is helping companies worldwide reduce costs as they start to re-open after the COVID-19 lockdown, according to a report from Gartner. The paper looks at how digital twins are being used in rail transport, the oil and gas industry, healthcare and supply chain industries to drive
Digital twins of the customer (DToC) is an emerging technology that will have a transformational impact on supply chain''s ability to mitigate risk, manage supply and demand, and enhance customer experience. Chief supply chain officers (CSCOs) must accelerate supply chain investment and engage in its development.
Access new research on digital twins from Gartner in Emerging Tech: Tech Innovators for Digital Twins – ET/OT Providers (Engineering technology and operational technology providers). Download the report to discover: Gartner, Emerging Tech: Tech Innovators for Digital Twins — ET/OT Providers, Alfonso Velosa, Eric Goodness, Scot Kim, 11 May 2023.
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Digital Twin is attracting attention from practitioners and scholars alike. Today, the technology is used across many industries to provide accurate virtual
Gartner defines a digital twin as a virtual counterpart of a real object, meaning it can be a product, structure, facility or system. Gartner predicts that, by 2020, at least 50 percent of manufacturers with annual revenues in excess of
A digital twin ingests data and replicates processes so you can predict possible performance outcomes and issues that the real-world product might undergo.". IBM (Reference 2) says "A digital twin is
Summary. Coordinating interdependencies within and across digital business transformation initiatives is challenging yet key to success. A digital twin of an organization helps enterprise architecture and technology innovation leaders prioritize, guide, plan, monitor, analyze and scale complex initiatives.
Summary. Widespread IoT adoption is driving increased deployment of digital twins. Application leaders should understand how to source COTS digital twin templates and digital-twin-enabling technologies. They should recognize the trade-offs in effort, time-to-deployment and flexibility.
Join this complimentary Gartner leadership webinar as a Gartner expert explores how product leaders can utilize digital twins of the customer to establish a long-term differentiated market position and enhance the customer experience. You will walk away from this session with answers to your vital questions, a copy of the research slides and
A digital twin of an organization (DTO) is a dynamic software model of any organization that relies on operational and contextual data to understand how an organization operationalizes its business model, connects with its current state, responds to changes, deploys resources and delivers customer value. How these categories and markets are
Digital twins in oil and gas are emerging as the hub of next-generation digital asset operations. CIOs should develop modular architectures, integration skills
Major asset manufacturers are launching digital business units. These units are subject matter experts in their domains and oftentimes have team members with experience building physical plants and infrastructure.However, these units are still developing their informatio n technology and digital twin portfolio, and often lack critical
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Summary. Gartner has identified 21 best practices from a range of successful digital twin implementations and divided them into three categories. This research will help CIOs in the manufacturing sector avoid the pitfalls that may await those pursuing digital twin projects.
The digital twin market will cross the chasm in 2026 to reach $183 billion in revenue by 2031, with composite digital twins presenting the largest opportunity.
Join your peers for the unveiling of the latest insights at Gartner conferences. Well-designed digital twins based on business priorities have the potential to significantly improve enterprise decision making. Enterprise architecture and technology innovation leaders must factor digital twins into their Internet of Things architecture and
Gartner surveyed 380 supply chain leaders in January 2023 and found that while 60% are piloting or plan to implement a digital supply chain twin (DSCT), just 27% were also planning to incorporate a DToC as part of their digital strategy.
Coordinating interdependencies within and across digital business transformation initiatives is challenging yet key to success. A digital twin of an