A new report from Navigant Research examines the concept of digital twins, or digital simulations of physical assets, and how the technology can be used to help manufacturers meet sustainability and efficiency goals.
Pressure from consumers, investors, the nongovernmental organization community, downstream clients, and regulators to adopt sustainable business practices makes it more difficult for manufacturing companies to maintain their bottom line. Digital twin technology, or digital simulations of physical assets, is often marketed as a breakthrough solution for manufacturing, offering to increase efficiencies in operations and facilitate innovative product design. Click to tweet: According to a new report from @NavigantRSRCH, effectively implemented, digital twins can also aid in companies’ sustainability efforts through better monitoring of energy, water consumption, and waste production in their manufacturing processes.
“The digital twin approach presents a multitude of advantages for manufacturing companies,” says Rafael Go, senior research analyst with Navigant Research. “Implementing digital twins does not necessarily require new tools but rather a new approach for managing and using data.”
For market players looking to leverage digital twin technology, Navigant Research recommends standardizing data management processes as a foundation for more straightforward interpretation and setting priorities and parameters to ensure manageable, focused pilot projects. Organizations should also align their approach with their sustainability goals, accounting for targets, risk management factors, and potential obstacles.
The report, Leveraging Digital Twin Approach for Sustainable Manufacturing, 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. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant – a Guidehouse company, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Leveraging Digital Twin Approach for Sustainable Manufacturing, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant – a Guidehouse company undertakes any obligation to update any of the information contained in this press release or the report.