Frost & Sullivan
06/14/2022 | Press release | Distributed by Public on 06/14/2022 03:42
How Digital Twins Can Save the Global Mobility Market from Expensive Errors
San Antonio -June 14, 2022- Digital twins (DTs) have accelerated innovation and unlocked new business models in the mobility sector, according to Frost & Sullivan´s latest analysis on digital twins in global mobility. DTs assist original equipment manufacturers (OEMs) in designing and validating new products and features in the virtual environment before creating a physical prototype. Additionally, the COVID-19 pandemic and increasing digitalization have highlighted the importance of DTs as they enable remote monitoring and control (RMC) in manufacturing.
For further information on this analysis, Growth Opportunities for Digital Twins in Global Mobility,please click here.
"Cutting-edge technologies, such as artificial intelligence, machine learning, augmented reality, and virtual reality, make digital twinning possible," said Sandhya Jesu, Mobility Industry Analyst at Frost & Sullivan. "Additionally, with technology integration, DTs have enabled the simulation of entire production facilities, supply chains, and product offerings, avoiding expensive errors and opening the arena to new entrants."
Jesu added: "Several innovative business models are emerging based on the large amounts of data that DTs generate. OEMs can use that information to create a continuous flow of revenue. Further, DT-based data-driven techniques help optimize decision-making, ensuring a smooth supply chain and manufacturing."
The proliferation of the use of digital twinning in the automotive sector presents massive opportunities for market participants, including:
- Integrated product life cycle (PLC) using a DT: Integration of the entire PLC helps create a data thread holding all product information, including design and maintenance.
- DTs can be effective against geopolitical disturbances: This solution can predict supply chain disruptions, determine the extent of the impact, and identify alternate supplies and logistics beforehand.
- Monetize DT-generated data: Data-derived insights could facilitate targeted ads, cross-selling, and upselling by players in different industries.
Growth Opportunities for Digital Twins in Global Mobility is the latest addition to Frost & Sullivan's Mobility research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Growth Opportunities for Digital Twins in Global Mobility
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Sol Curet
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About Sol Curet
Sol Curet is a Corporate Communications and Marketing Executive at Frost & Sullivan covering Automotives, Industrial and Information, Communication & Technology (ICT) topics. She is responsible for PR management, media relations, and communication campaigns.
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← Previous PostSol Curet is a Corporate Communications and Marketing Executive at Frost & Sullivan covering Automotives, Industrial and Information, Communication & Technology (ICT) topics. She is responsible for PR management, media relations, and communication campaigns.