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Market Research Report

Digital Twins and AI Deliver the Energy System of Tomorrow

Published by Navigant Research Product code 910751
Published Content info 20 Pages; 5 Tables, Charts & Figures
Delivery time: 1-2 business days
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Digital Twins and AI Deliver the Energy System of Tomorrow
Published: September 10, 2019 Content info: 20 Pages; 5 Tables, Charts & Figures
Description

There is much confusion surrounding the concept of digital twin. Most vendors will have their own idea of what a digital twin is. Often, this definition is reflected by the vendor's own product set. Much that is said of digital twin is pure hype. Artificial intelligence (AI) is experiencing similar publicity. However, this should not detract enterprises from investigating either concept. In fact, the two go hand in hand.

This report cuts through the digital twin hype by proposing six maturity dimensions for the digital twin, which can be as basic as one datum. The report emphasizes the fact that digital twins are nothing new; rather, they change the conversation regarding data management. But this data management approach opens the door for new analytics-based business processes that can save companies millions of dollars. Efficiency is a major market driver, and savvy vendors will adopt tools that streamline data management.

This Navigant Research Strategy Insight report discusses workable definitions of digital twins and AI. It includes perspective on why there are so many definitions for each technology and how to frame them optimally. This report offers suggestions for selecting the right kind of digital twin for different needs. It also provides recommendations for asset-based companies on how to choose the best iteration of digital twin for their respective needs.

Key Questions Addressed

  • What is a digital twin?
  • How does digital twin technology differ from digital twin thinking?
  • Why is digital twin thinking more important than any technology?
  • How important is information management in a digital twin strategy?
  • How does digital twin help in the use of analytics and artificial intelligence (AI)?

Who Needs This Report

  • Digital twin vendors
  • Systems integrators
  • Machine learning and AI and analytics vendors
  • Grid and generation asset owners
  • Electricity suppliers
  • Smart home and building vendors
  • Smart cities
  • Investor community
Table of Contents
Product Code: SI-DTEO-19

Table of Contents

Spark

Context

Recommendations

Digital Twin: More Mindset Than Technology

  • A Digital Twin Has Surprisingly Few Prerequisites
  • Navigant Research's Digital Twin Maturity Dimensions Help Mitigate Confusion
    • Digital Twin Technology Is Different from Digital Twin Thinking
    • Oil Refiner MOL Exemplifies the Power of Digital Twin Thinking
    • Digital Twin Is a New Badge for Existing Technology
    • Digital Twin Maturity Is Multidimensional
    • Richness of Data
    • Visualization
  • Select the Right Approach for Enterprisewide Digital Twin Requirements
    • Select the Right Digital Twin Toolset for Specific Requirements
    • A Network Connectivity Model Needs Constant Management
  • Accurate Network Connectivity Models Are Important
    • Digital Twins Can Be Just About Improving Visibility
    • A Common Language Is Essential for a Digital Twin

Digital Twins Enable Enterprisewide Analytics Strategies

  • Analytics Improve Data Quality in a Digital Twin
  • Predictive Maintenance
    • FirstEnergy's Digital Twin Approach Ensured High Quality Outputs from Its Predictive Maintenance Program
  • Network Planning
  • Digital Twins Make Self-Aware Grids Possible

What Do We Recommend?

  • Ignore The Hype: Companies Already Digital Twins
  • Digital Twin Thinking Is the Most Important Aspect for Implementation
  • Start Small and Use Navigant Research's Maturity Dimension to Grow
  • Pick the Lowest Hanging Fruit
  • Data Quality Is Essential

List of Charts and Figures

  • Digital Twin Maturity Dimensions
  • Growth of Devices in the Fractal Grid
  • CAD Representations of Digital Twins
  • ABB Ability Digital Enterprise
  • Deep Self-Modeling
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