Global Digital Twin Outlook and Growth Drivers

Digital Twin is a technology that digitally models physical objects or spaces to create a virtual counterpart reflecting real-world systems, integrating various sensors for real-time monitoring, analysis, and optimization. It has become a tool for enhancing operational efficiency across various sectors such as manufacturing, healthcare, and smart cities, with estimated revenues projected to reach around $110.1 billion by 2028. This signifies the remarkable growth Digital Twin will experience amidst the ongoing digital innovations across industries.

Implementation of Digital Twin by Global Enterprises

29% of global manufacturing companies have already fully or partially implemented digital twin strategies. This indicates companies' recognition of the value of digital twins in improving management and production processes by virtually replicating physical systems and environments.

Growth Drivers of Global Digital Twin

• Emergence of Industry 4.0
  : The emergence of Industry 4.0 has accelerated the adoption of Digital Twin, particularly in the manufacturing sector. Traditional production methods have been digitized and automated, facilitating the establishment of smart factories. Utilizing Digital Twin, which digitally replicates the physical layout of factories, enables real-time monitoring and optimization of production processes.
  
  
• Integration and Synergy with IoT
  : The synergy between Digital Twin and IoT has brought innovation across industries. Connected IoT devices and sensors provide real-time data, enhancing the comprehensive understanding within Digital Twin. This enables deep insights into physical environments and supports data-driven decision-making. For instance, in manufacturing, sensor data allows swift detection and resolution of issues on production lines.
  
  
• Advancements in AI and Machine Learning
  : Digital Twin has advanced through integration with artificial intelligence (AI) and machine learning (ML). AI and ML algorithms analyze Digital Twin data, performing predictive analytics and anomaly detection, contributing to market growth. Furthermore, by reducing human intervention in production processes, Digital Twin enhances productivity and cost-effectiveness.

360 Photo-Based Digital Twin Solution: Beamo

Digital Twin Beamo is an enterprise solution that captures real-world sites and enables collaboration in a 360-degree virtual space. With a simple setup comprising a 360-degree camera, smartphone, and tripod, various industrial sites can be captured and it is automatically captured by walking through the site, so even beginners can easily operate it. Additionally, stitching images captured by the 360-degree camera creates a 360-view, rapidly generating digital twin compared to LiDAR or 3D scanners. Another advantage is the ease of reflecting changes in specific areas, making it particularly useful for industries with frequent updates like construction sites.

Digital twin serves as a crucial tool for companies to progress sustainably. It optimizes production processes, improves workflows, reduces energy consumption, and optimizes resource usage, facilitating the achievement of sustainability goals. Moreover, digital twins enable remote sensor monitoring in complex spaces and facilities without the need for physical presence. Positioned on innovation and change, Digital twin establishes itself as a major trend in future industries, expected to expand and evolve through its application and technological advancements.