«Clearly, the thing that’s transforming is not the technology — it’s the technology that is transforming you.»
— Jeanne W. Ross of MIT Sloan’s Center for Information Systems Research
It has been 20 years since the term Industry 4.0 was introduced. Since then, progress in digital twinning accompanied by networks specialized in data collection has grown exponentially and astonishingly.
Twinning is one of the main technological trends highlighted over the past years, by diverse businesses that seek to reduce expenses and increase efficiency in their processes.
According to Markets And Markets research, the global digital twin market is projected to reach USD 73.5 billion by 2027 at a CAGR of 60.6% during the forecast period. This rapid growth will be mainly driven by manufacturing industries with the use of digital twins to reduce costs and improve supply chain operations. In addition, the healthcare sector will play a significant role in the expansion of digital twins by using predictive maintenance.
Furthermore, the digital twin market will maintain the highest share in North America from 2022 to 2027, as it is a major hub for technological innovations that plays the role of an early adopter of digital twins and related technologies.
So, what is so fascinating about digital twins? This technology is born to create a trustworthy digital representation or models of real-life products, systems or processes.
Digital twins can provide endless posibilities and functionalities to your company. Its ace under the sleeve is the capability of combining traditional historical data with IOT and digital virtualisation, to provide a 360-degree view of a physical object along its life-cycle.
While this sounds like a sci-fi movie, for many companies twinning is already a reality.
It is all about data
The operating systems that complement digital twins are responsible for collecting data during the design, manufacturing process and performance, becoming a never-ending process of data collection and machine learning.
This compilation of information is possible through the installation of sensors and cameras to capture static or real-time data. Then, it send it to a data storage platform, which collects, processes and learns how to convert that data into information and generate a model out of it.
Therefore, a key factor of the Digital Twinning technology is to have a high-performance qualified data storage. A platform able to collect, track and analyze information pouring it onto a centralized repository where a virtual model or digital twin of a physical object allows us to run.
TREE is an open platform specialized on management of assets and data storage, allowing real-time collection of information. We use both cloud and on-premise architecture, providing flexibility, time reduction and data security to our clients, in a simple centralized solution.
It’s thanks to our platform that we are able to give way to the asset management digital transformation of the future of telecom industry, towards 100% digital operations, that can rise up to today’s technological challenges.
In some of our following articles, we’ll see new integrations with leading companies in the technology sector, supporting the concept of digital twins.