You have a twin
Digital twins enable architects and engineers to simulate both the design and operating phases of physical structures, machines and complex systems. Similar to IoT, digital twins are not a singular technology and combine software, data analytics, semiconductors, and system integrators to build the solution. For this reason, tracking the technology is not straightforward, but the expected acceleration for engineering and design software revenues provides a strong proxy for the trend. To read more about the outlook for digital twins and adjacent technologies, please see our recent paper, 5 digital innovations to shape a new era of growth.
Source: Bloomberg, IDC, 2023