Digital Twins is the new hot tech market

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Digital twins—digital representations of real-world entities such as sensors, devices, machines, systems, and even people—have evolved from a niche concept to an integral part of the industrial landscape.

It is a fast-growing tech market as well: ABI Research forecasts that the industrial digital twin market will grow from $3.5 billion in 2021 to $33.9 billion in 2030, at a 29 per cent Compound Annual Growth Rate (CAGR), according to a report by ABI released on Thursday.

Clearly there is a need for digital twins, and the demand is driven by their performance.

A physical sensor stores data, and a person has to come and extract that data to use it. But the digital twin of that sensor stores the data in a way that permits real-time access. This means that it can be coupled directly to other computers and devices to generate actions or to deliver solutions much faster, according to the report.

+INFO: Cyprus Mail

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