{"id":55307,"date":"2019-04-09T15:51:27","date_gmt":"2019-04-09T14:51:27","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=55307"},"modified":"2022-10-19T14:55:10","modified_gmt":"2022-10-19T13:55:10","slug":"digital-twin-increase","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/digital-twin-increase\/55307\/","title":{"rendered":"Study: Digital twin increase fuelled by AI and machine learning"},"content":{"rendered":"

A new study from\u00a0Juniper Research<\/a>\u00a0has found that revenues from digital twins will reach $13bn by 2023, as artificial intelligence and machine learning innovation increases<\/h2>\n

The latest $13bn forecast is considerably higher than the $9.8bn estimation for 2019.<\/p>\n

The research found that increased deployments of advanced sensors to capture data, and technological advances such as machine learning<\/a>, AI and high-performance computing are enhancing the advantages of using digital twins.<\/p>\n

The leaders in digital twins<\/h3>\n

Juniper ranked the leading players in the market and identified those companies that have bolstered their digital twin offerings by combining in-house industrial IoT expertise, strong market reach and close collaborations with technology companies.<\/p>\n

The leading players are (in no particular order):<\/p>\n

    \n
  1. General Electric<\/a><\/li>\n
  2. Siemens<\/a><\/li>\n
  3. IBM<\/a><\/li>\n
  4. PTC<\/a><\/li>\n
  5. Microsoft<\/a><\/li>\n
  6. Bosch<\/a><\/li>\n<\/ol>\n

    Digital twins enable staff to deliver human aspects of operations effectively<\/h3>\n

    The new research found that advanced digital twin operations will help human workers focus on maximising productivity in areas that the technology cannot address, such as customer service.<\/p>\n

    Manufacturing accounts for $3.3bn digital twin increase<\/h3>\n

    The research\u00a0forecasts that digital twin revenues from manufacturing will reach an estimated $4.5bn in 2023, up from $1.4bn in 2019. Manufacturing, as the fastest growing sector, will account for over 34% of total digital twin revenue in 2023. Two other sectors leading growth in net incremental revenues over the forecast period include:<\/p>\n

      \n
    • Transportation \u2013 by $2.5bn<\/li>\n
    • Energy and utilities \u2013 by $1.1bn.<\/li>\n<\/ul>\n

      Research author, Elson Sutanto said: \u201cIn future, we will see numerous trials combining IoT, digital twins and AI to justify time and investment in deploying the technology within and between enterprises. This holds true for multi-location operating industries such as supply chain.\u201d<\/p>\n

      \n<\/div>","protected":false},"excerpt":{"rendered":"

      A new study from\u00a0Juniper Research\u00a0has found that revenues from digital twins will reach $13bn by 2023, as artificial intelligence and machine learning innovation increases.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[141293],"tags":[428,688,172720],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-55307","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-digital-construction-news","7":"tag-bim","8":"tag-digital-construction","9":"tag-digital-twins"},"acf":[],"yoast_head":"\nStudy: Digital twin increase fuelled by AI and machine learning<\/title>\n<meta name=\"description\" content=\"A new study 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