Digital Twin Adoption Set To Take Off Across Multiple Industries

Published 31 October 2019 by Dennis Callaghan & David Metcalfe &

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Executive Summary

This report provides an industry-level breakdown of the significance of digital twin simulations of plants and facilities for 284 managers responsible for operational excellence. Digital twins ranked as the most significant of nine digital innovations for operational excellence initiatives in 2020 and 2021, with 94% of survey respondents listing the technology as “very significant” or “significant.” Mining and infrastructure firms are most enthusiastic about digital twin adoption for the next two years, though oil and gas, transport, maritime and power utilities will also embrace the technology. To capitalize on this opportunity, digital twin software vendors will need to educate the market on the power and capabilities of digital twins for asset monitoring while partnering with service providers and network infrastructure providers to make digital twins a reality for customers.

Table of contents

Digital Twins Are The Most Significant Operational Excellence Digital Innovation For 2020
Opportunities And Pitfalls Await Digital Twin Software Vendors

Table of figures

Figure 1. Significance Of Digital Twin Strategies By Industry In 2020 and 2021

About the authors

Dennis Callaghan

Principal Analyst

Dennis is a Principal Analyst at Verdantix, contributing to both the Operational Excellence and Smart Buildings practices. His current research agenda focuses on covering asset performance management technologies across both industrial and smart buildings use cases, including Internet of Things monitoring and data analysis. Dennis has over 10 years’ experience in industry research and strategy. He previously worked at 451 Research, where he led that firm’s coverage of application performance management and IT service and asset management technologies. He has written about technology as a journalist, industry analyst or marketer for more than 20 years. Dennis holds a BA in journalism from Duquesne University.

David Metcalfe

CEO

David is the CEO of Verdantix and co-founded the firm in 2008. Based on his 20 years of experience in technology strategy and research roles he provides guidance on digital strategies to C-level executives at technology providers, partners at private equity firms and function heads at large corporations. His current focus is on helping clients understand their market opportunity tied to ESG investment trends and their impact on corporate sustainability strategies. During his 12 years running Verdantix – including 4 leading the New York office – he has helped dozens of clients grow their businesses through fund raising, acquisitions and international growth. David was previously SVP Research at Forrester and Head of Analysis & Forecasting at BT. He holds a PhD from Cambridge University and also worked as a Research Associate at the Harvard Business School.

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