Digital Twin remains a distant term even for many tech nerds. However, as we approach the second quarter of 2023, digital twins are gaining prominence by leaps and bounds, as their market is growing manifold.
Firstly, we must acknowledge that the advancements in the realm of technology are progressing way faster than it was predicted. It’s almost like the warning that appears on the front mirror of a car — ‘objects in the mirror are closer than they appear’.
Be it AI, where there’s a mad rush at present, something which started with OpenAI’s ChatGPT, or metaverse, things are changing quite rapidly. And in this regard, digital twins happen to be a very significant spot. Let’s delve deeper with the story and unravel the exciting aspects around it. Here we go!
The digital twin market seems very booming, as it was valued at USD $3.1 billion in 2020 and according to industry analysts, it is projected to reach around USD $48.2 billion by 2026. [Image Credit: Freepik]
Digital Twin: Engineering Changes, Building Lives
Digital twin is basically the virtual model of a particular object. It could be almost anything under the sun — right from a wind turbine to even an entire city. Real-time data sent from sensors on the concerned physical object is used to simulate the behavior and monitor operations.
To be precise, data about different aspects of the physical object’s performance, such as energy output, temperature, weather conditions and more, is collected. Then it is passed on to a processing system and applied to the digital copy.
Now, what’s the primary goal of creating digital twins? It allows one to run simulations and gain valuable insights about the real object, in the process. This helps one to oversee with precision, how the object is performing and locate vulnerabilities. Eventually, all these help into better decision-making, ensure enhanced maintenance of the object and strengthen its deliverables to a great extent.
It must not be confused with simulations, as unlike it this is a two-way traffic, where real-time data derived from the real object’s performance is used to better the digital twin and the insights mapped from the digital twin is used to strengthen the real-world object.
There are primarily four types of digital twin. These are namely, Component twins/Parts twins, Asset twins, System or Unit twins and Process twins. You would be amazed to know that various industries around the world are now using this incredible digital twin technology — construction, system engineering, energy, aircraft, automobile and even healthcare, where digital twins of human bodies are created to track how a patient might respond to a particular treatment.
The process in which digital twins work is quite critical and involves AI and Internet of Things. It is sort of revolutionizing businesses as well as scientific research, in terms of R & D, as one can anticipate many things and use those findings to increase efficiency.
Though the fundamental idea of digital twins dates back to 1991, when David Gelernter published Mirror Worlds, it was Dr. Michael Grieves who applied it to manufacturing in 2002. However, the term ‘digital twin’ came into being only in 2010, thanks to NASA’s John Vickers.
The digital twin market seems very booming, as it was valued at USD $3.1 billion in 2020 and according to industry analysts, it is projected to reach around USD $48.2 billion by 2026.
We will keep a close eye on the progress of digital twins and get back to you with exclusive updates. Till then, stay tuned with us for more top stories from the world of tech.
