Virtual Twin Technology: Unlocking it’s Transformative Potential Across Industries
In an era where digital transformation is reshaping the business landscape, virtual twin technology emerge as a unprecedented force. Imagine having a digital replica of your entire operation—capable of simulating scenarios, optimizing processes, and driving sustainability. nasscom’s recent report delves into the transformative power of virtual twins, revealing how they can enhance operational efficiency, foster innovation, and support sustainable practices across various sectors.
The Evolution of Virtual Twins
Virtual twin technology has evolved significantly from its early iterations, which primarily focused on mirroring and monitoring individual assets. Today, it encompasses generative design, immersive experience modeling, and decision provenance, allowing organizations to emulate complex systems and their behaviors. This advancement enables real-time monitoring, diagnostics, and predictive maintenance, all within a low-cost and risk-free environment.
Unprecedented Insights and Control?
One of the standout features of virtual twins is their ability to provide unprecedented levels of insights and control. By facilitating “what-if” scenario-building, businesses can explore various outcomes and optimize processes in real-time. This capability is crucial for maintaining human-led process lines in manufacturing while also paving the way for sustainable, autonomous factories of the future.
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Addressing Sustainability Goals
As industries increasingly focus on sustainability, virtual twins play a vital role in creating circular product lifecycles. By ensuring data continuity and decision provenance, organizations can retrace digital shifts made throughout the value chain, ultimately leading to more sustainable practices. This technology not only helps in optimizing assets but also opens up expansive opportunities for future innovations.
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Current Adoption Trends
According to a McKinsey study, companies that have adopted virtual twins in Europe reported an average increase of up to 10% in topline revenue, a 50% faster go-to-market time, and a 25% improvement in product quality. Despite its transformative potential, the current adoption of virtual twins remains relatively limited. Challenges such as the integration of diverse data sources, interoperability of systems, and a shortage of skilled talent in simulation and modeling hinder widespread implementation. Additionally, a lack of clear leadership vision and success metrics further complicates the adoption process.
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The Crucial Role of Providers
Specialist suppliers of next-gen 3D simulation and experience capabilities are crucial in helping organizations understand and implement virtual twins effectively. By providing guidance on planning, preparation, and execution, these providers can assist businesses in identifying the most feasible and impactful applications of virtual twin technology.
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Looking Ahead
As organizations continue to navigate the complexities of digital transformation, embracing virtual twins will be essential for driving sustainable growth and innovation.Virtual twin technology stands at the forefront of a digital revolution, offering businesses the tools they need to optimize processes, enhance performance, and achieve sustainability goals.
nasscom ’s recent report “Virtual Twins: Emerging Opportunities in Global Adoption” is based on a comprehensive survey of 130 global enterprises across four major industry segments and five economic regions in Europe and Asia-Pacific. The findings reveal a growing potential of virtual twins, with many organizations eager to explore their capabilities. Click the link below to download
https://community.nasscom.in/communities/emerging-tech/virtual-twins-emerging-trends-global-adoption
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2 个月Absolutely agree with the insights shared here! Virtual twin technology indeed holds immense potential to transform how businesses operate by enabling real-time simulation and optimization. Its ability to drive sustainability and innovation makes it a key player in the digital transformation journey. However, addressing the challenges of data integration, system interoperability, and skill shortages is crucial for its widespread adoption. With the right approach, virtual twins can become an essential tool for businesses looking to grow and innovate.