Smart Innovators: Digital Twins For Industrial Facilities
25 Jun, 2019
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Executive Summary
Digital twins are part of the Industry 4.0 megatrend and are primarily used today for equipment design and testing. Only in the past two years has the concept of facility-wide digital twins gathered momentum due to the complexity involved in modelling and simulating the performance of industrial facilities. Reflecting the relative newness of this technology in the industrial space, vendors offer digital twin software at five different levels of sophistication – from digital twins that integrate data from various sources to one capable of acting autonomously. Verdantix expects the market for plant-level digital twins to grow slowly over the next five to 10 years with high-risk, asset-intensive industries being the early adopters. This report provides buyers of digital twin software at industrial facilities with an overview of the current state of the market and an assessment of different vendors who offer digital twin value propositions.
Smart Innovators: Digital Twins For Industrial Facilities
The Digital Twin Concept Forms Part Of The Industry 4.0 Megatrend
Four Technology Capabilities Underpin Digital Twin Software For Industrial Facilities
Technology Vendors Offer Digital Twins At Five Different Levels Of Sophistication
Digital Twins Deliver Enhanced Value Propositions To Multiple Stakeholders
Digital Twin Software Must Overcome Adoption Hurdles To Increase Market Penetration
Technology Executives At Industrial Firms Must Overcome Five Barriers To Digital Twin Success
Crossing The Chasm Requires A Concerted Effort To Find Digital Twin Innovators
The Digital Twin Concept Forms Part Of The Industry 4.0 Megatrend
Four Technology Capabilities Underpin Digital Twin Software For Industrial Facilities
Technology Vendors Offer Digital Twins At Five Different Levels Of Sophistication
Digital Twins Deliver Enhanced Value Propositions To Multiple Stakeholders
Digital Twin Software Must Overcome Adoption Hurdles To Increase Market Penetration
Technology Executives At Industrial Firms Must Overcome Five Barriers To Digital Twin Success
Crossing The Chasm Requires A Concerted Effort To Find Digital Twin Innovators
Figure 1. Digital Twins For Industrial Facilities – Levels of Sophistication
Figure 2. Digital Twins For Industrial Facilities – Relevance For Key Stakeholders
Figure 3. Digital Twins For Industrial Facilities – Uptake By Asset Type
Figure 2. Digital Twins For Industrial Facilities – Relevance For Key Stakeholders
Figure 3. Digital Twins For Industrial Facilities – Uptake By Asset Type
Accenture, ABB, GE Aviation, Boeing, Tesla, OpenStreetMap, Rio Tinto, Chevron, Whirlpool, Covestro, VisiumKMS, Airbus, RiskPoynt, Petrofac, Oracle, Google Maps, Bentley Systems, Akselos, Wolters Kluwer, DNV GL, Llama Zoo, Cority, GE, Schlumberger, Royal Dutch Shell, Volkswagen, RAP International, Seebo, AspenTech, ANSYS, Sphera, AVEVA, Worley Parsons, eVision, IBM, GE Digital, IBM Services, Hexagon PPM, Siemens, Petrotechnics, Autodesk, PTC, TenForce, Deloitte, Tata Consultancy Services, Dassault Systèmes, Abu Dhabi National Oil Company, Emerson, Rolls-Royce, Esri
About the Authors
Malavika Tohani
Research Director, Industrial Transformation
Malavika leads the Verdantix Industrial Transformation practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins…
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David Metcalfe
CEO and Co-Founder
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 st…
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