Digital twins market value
ENTERPRISE IT
“ Given the increased availability and democratisation of technologies required for building digital twins , it is a valuable tool for meeting ESG mandates ”
DR PHANI BHUSHAN SISTU IOT SOLUTIONS LEAD , HITACHI VANTARA
for building digital twins , it ’ s a valuable tool for improving business infrastructure , products , and processes – both existing and new – to meet ESG mandates ,” explains Dr Phani Bhushan Sistu , IoT Solutions Lead at Hitachi Vantara .
Sustainability has been on the public agenda for years with comparatively little progress being made given the risks . The introduction of ambitious sustainability goals by governments around the world have , however , pushed the topic to the top of the corporate and government agenda , adds Kevin Macnish , Digital Ethics Consulting Manager at Sopra Steria .
“ While there is no silver bullet to the sustainability issues we ’ re currently facing , technology , particularly digital twins , has already played a vital role in helping reduce emissions ,” Macnish explains . “ Digital twins can create sustainable value across a diverse , expansive range of applications and contexts ; when it comes to sustainability efforts , they ’ re already helping reduce the greenhouse gas emissions and carbon footprint of buildings by up to 50 %, with
Digital twins market value
With Gartner predicting it to be one of the trends of the decade , the digital twin market will likely reach $ 183bn in revenue by 2031 . Product leaders must build ecosystems and libraries of prebuilt function and vertical market templates to drive competitiveness .
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