Digital transformation may be more critical than ever. Many enterprises had realised the fact on their investment into digital transformation prior to the pandemic are now in a much better position to continue operating smoothly. If businesses are going to be successful in the post-pandemic market, digital transformation will be the key.
As the spread of COVID-19 slows down and is contained across the country, a question looming on everyone’s minds on how their plans will evolve for the long term. What will start, stop, or continue after the crisis eases? And what would be the shape of the workplace will ultimately assume when the pandemic is over. Secondly, most of the enterprise networks are widening — with hybrid clouds, IoT devices and home offices — and attacks rapidly and automatically evolve, there has to be a radical new approach to cybersecurity.
A report estimates about the Digital Twin, which is a bridge among the digital and physical worlds, this market is expected to grow from $3.8 billion in 2019, to $35.8 billion per year by 2025, at a CAGR of 45.4%. As we have seen, Digital Twin software is already revolutionizing industries such as Healthcare, Architecture, Aerospace, Defence, and Automotive & Transportation.
The most sought technology that is Digital Twin is to take the center stage. Digital Twins are virtual replicas of buildings, infrastructure and physical assets, fully interconnected with the data in and around them that optimize project performance, and help predict and visualize future outcomes. Approximately $900 billion will be spent on digitization globally. 80%+ leaders believe analytics will be key for decision making in industrial manufacturing.
It is absolutely fact that the Digital Twin field is evolving faster than ever. digital twin is a virtual representation of physical buildings and assets but connected to all the data and information around those assets, so that machine learning and AI algorithms can be applied to them to help them operate more efficiently.
COVID-19 has disrupted life around the world, leading to a global crisis and significant effect on businesses. Manufacturing is unfortunately, one of the industries that has been impacted the most. Mired in between an agenda for transformation and legacy systems, the industry was not prepared for something like a global shutdown, and companies have been grappling with numerous challenges to continue critical operations under lockdown.
Going forward, both private sector and public sector tenders the world over now routinely call for Digital Twin solutions, including the new mega Smart City in Saudi Arabia, which plans to test 19 different Digital Twin use cases over the next two years, and the new capital city of Amaravati in Andhra Pradesh, India, will be the world’s first city “born as a digital twin.
