Market Research Report
Leveraging Digital Twin Approach for Sustainable Manufacturing
|Published by||Navigant Research||Product code||912243|
|Published||Content info||14 Pages
Delivery time: 1-2 business days
|Leveraging Digital Twin Approach for Sustainable Manufacturing|
|Published: September 25, 2019||Content info: 14 Pages||
Efficiency in operations and product design optimization have become strategic imperatives in manufacturing. In addition, pressure from consumers, investors, and regulators to adopt sustainable business practices makes it more difficult for manufacturing companies to maintain their bottom line. Although digital twin technology is often marketed as the silver bullet for manufacturing, offering to increase inefficiencies in operations, facilitate innovative product design, and promote sustainable practices, digital twins are simply a tool. The reality is that obtaining the technology does not guarantee success-companies need to know how to effectively leverage it to achieve their sustainability goals. And successful implementation requires changes at the organizational level.
The digital twin approach presents many advantages for manufacturing companies. Employing the breadth and depth of the information afforded through the use of digital twins enables companies to not only defend their position in the market by increasing efficiency in operations but also grow their market share by optimizing product development and innovation. Implementing digital twins does not necessarily require new tools but rather a new approach for managing and using data.
This Navigant Research Strategy Insight report discusses the concept of digital twins. The study analyzes definitions of digital twin and how the technology can be used to help meet sustainability and efficiency goals. It delves into the philosophy, basics, and potential development of digital twin technology as demand for operational efficiency grows. The report also includes recommendations for market players that want to optimize digital twin potential.