Published on 29th December 2022
The digital twin concept is based on a virtual representation of the physical world, with the virtual copy or twin mirroring a physical product, process, system, etc.
In recent times, digital twin technology has ushered in a wave of digital transformation across aerospace, defense, energy and power, healthcare, pharmaceutical, and other industries.
A digital replica is not merely a copy of a physical object—it is the catalyst that drives advanced integration, analysis, and visualization of hundreds of disparate data streams. In addition, a digital twin provides data scientists, engineers, and other professionals with contextual, meaningful data.
Furthermore, a digital twin makes a huge difference to timely, effective decision-making because it syncs with its physical counterpart by updating and upgrading automatically as the original asset evolves and provides actionable insights into asset performance.
Whether the objective is to establish a smart city or achieve excellence in manufacturing operations, the digital twin model has progressed over time to merge human connection with tech innovation.
Several automation, platform, and technology providers are transforming the digital twin landscape. Now, let us look at the top 10 companies dominating the digital twin market.
Here are the top 10 leading digital twin companies (listed alphabetically):
Founded: 1970
Location: Canonsburg, Pennsylvania, United States
Ansys is a global leader in designing and developing engineering simulation and testing software for aerospace, automotive, construction, defense, healthcare, and other industry verticals.
Ansys Twin Builder is a powerful digital twin platform, which helps users model, simulate, and analyze virtual prototypes of real-world systems. Implementing this solution is beneficial for improving top-line revenue, managing bottom-line costs, and sustaining a competitive advantage.
Ansys’ physics-based simulation (reinforced with analytics) allows companies to predict future product performance accurately with a close assessment of virtual twin development.
Founded: 1886
Location: Gerlingen, Germany
The Bosch Group’s core family of products and services is known as the Bosch IoT Suite, which enables advanced AIoT (Artificial Intelligence of Things) solutions.
Bosch’s Eclipse Ditto is a modular structure framework that builds a crucial connection between real-world devices in the IIoT (industrial internet of things) space and their virtual twins. Eclipse Ditto powers Bosch IoT Things and helps devices communicate directly and efficiently over an API.
Additionally, Bosch Rexroth AG’s (a wholly owned subsidiary of Robert Bosch GmbH) ctrlX IPC focuses on industrial PC-based automation for smart processes and enables companies to deal with increasing volumes of data through strong edge computing.
Founded: 1984
Location: San Jose, California, United States
Cisco Systems is a globally renowned leader in IT and networking. The company invests in new digital twin opportunities toward empowering businesses with improved quality control, increased profit opportunities, and shorter sales cycles.
A digital twin network offers key benefits, such as designing network optimization solutions, performing what-if analysis, and planning network upgrades. As a robust network controller and management dashboard, the Cisco DNA Center helps configure a variety of network devices quickly.
On the other hand, the Cisco Kinetic IoT platform and Field Network Director enable enhanced production control. Moreover, Cisco’s industrial infrastructure can be used to devise an extremely intelligent, reliable, and secure connectivity solution within a manufacturing facility, plant, or production space.
Founded: 1981
Location: Vélizy-Villacoublay, France
Dassault Systèmes’ integrated 3DEXPERIENCE® platform enables engineers to develop a virtual twin solution, which helps:
In addition, the platform accelerates sustainable operations in the manufacturing industry by enabling manufacturers to rely more on data-driven analysis and less on manual input. Moreover, this cloud-based platform can be used to model and test the human body safely apart from other products like airplanes and cars.
Dassault Systèmes also offers Structure Simulation Software to simulate how assemblies and products behave under real-world loading and temperature conditions. Using this set of solutions, simulation experts and software developers get cutting-edge tools to improve real-world performance.
Founded: 1892
Location: Boston, Massachusetts, United States
General Electric (GE) is an American multinational conglomerate with many subsidiaries, including GE Digital, GE Healthcare, GE Power, and GE Renewable Energy. GE Digital is also a founding member of the Digital Twin Consortium and provides software essential to modern plant operations.
As a pioneer in the digital twin environment, GE’s disruptive services and solutions are known for improving production, increasing reliability, and reducing maintenance costs and faster time to value.
GE Predix OPM (Operations Performance Management) is a complete on-premises, control-to-cloud analytics solution that provides real-time visibility and insights into operations execution metrics and improves the performance of generation portfolios, plants, and sites.
Founded: 1911
Location: Armonk, New York, United States
IBM’s portfolio of products and services includes AI (artificial intelligence), cloud computing, cyber security, IoT (the Internet of Things), and IT infrastructure. IBM uses digital twin technology for the virtual creation, testing, and monitoring of processes and products.
Customers can download, manage, and purchase digital twins at IBM’s Digital Twin Exchange. Downloadable digital twin types include a bill of materials, building information models, engineering manuals, and 3D CAD files.
In addition, the IBM Engineering Lifecycle Management (ELM) solution and the IBM Engineering Systems Design Rhapsody (Rational Rhapsody) and its family of products reduce feedback loop latency and support system engineers in design, development, and test environments.
Founded: 1975
Location: Redmond, Washington, United States
Microsoft’s Azure Digital Twins is a next-generation IoT solution that helps create digital representations of business processes, people, places, and real-world objects.
The platform-as-a-service (PaaS) offering also enables the development of knowledge graphs based on digital models of complete environments. As a result, customers can create better products, optimize costs and operations, and improve customer experiences.
In combination with AI and IoT platforms, Azure Digital Twins creates data-driven workspaces and is suitable for all environments, including banks, factories, hospitals, offices, parks, schools, smart grids, stadiums, and warehouses.
Founded: 1977
Location: Austin, Texas, United States
Oracle’s product portfolio includes cloud-engineered systems, enterprise software products, and tools (such as Oracle Big Data Discovery). Oracle assists businesses in developing physical asset and device representations in the cloud.
The Oracle IoT digital twin simulator allows users to create simulated devices without connecting and setting up hardware. In addition, it is possible to generate configurable alerts, events, and live data for these simulated devices.
Oracle IoT Digital Twin Implementation consists of three key components: virtual twin, predictive twin, and twin projections.
While a virtual twin uses a JSON (JavaScript Object Notation)-based model to create a virtual representation of a physical asset or device in the cloud, ML techniques facilitate the development of a robust analytical model in the predictive twin. Furthermore, twin projections generate insights and predictions for precise monitoring.
Founded: 1985
Location: Boston, Massachusetts, United States
PTC (formerly Parametric Technology Corporation) is a software and services company with a portfolio spanning AR, CAD, IoT, and PLM technologies.
Howden (a global engineering business and a provider of mission-critical air- and gas-handling products) has partnered with PTC to use digital twin technology to improve the uptime of deployed products and, thereby, reduce business risk for customers.
Furthermore, the PTC Reality Lab creates a digital twin of place by integrating multiple data sets and spatial analysis. By providing a bird’s eye and detailed views of a factory floor, this integration helps make data-driven recommendations for improving processes and performance.
PTC’s digital copy use cases demonstrate how industrial enterprises now have more powerful analytics and simulation tools for ROI-increasing functionality and flexibility.
Founded: 1847
Location: Munich, Germany
Siemens AG includes data analytics, machine learning, multi-physics simulation, and other skills to demonstrate the impact of design changes and environmental conditions on digital twin development.
Siemens AG offers product digital twins to develop new products and support manufacturing and production planning. Additionally, the company’s performance digital twins analyze, capture, and act on operational data.
In July 2020, Siemens introduced Simatic Real-time Locating Systems (RTLS) solution plus SieTrace software to connect employees quickly and efficiently using real-time location data and control manufacturing processes.
In addition, the Siemens Digital Enterprise Suite coordinates integrated automation and software solutions for industrial companies.
Offers RobotStudio—a digital twin with offline programming to create, simulate, and test a full robot installation without disturbing the production line.
Provides Allvision Virtual Rail Inspector (VRI)—a digital twin platform that uses sensors for data collection and maps the entire rail network to prevent catastrophes by sending instant alerts to rail operators.
AWS IoT TwinMaker makes it easier to digitally replicate buildings, manufacturing facilities, industrial equipment, etc. Enterprises use AWS IoT TwinMaker to accelerate production output, improve equipment performance, optimize building operations, and more.
AVEVA’s enhanced digital twin combines robust document control and wearable scanning to deliver greater time and value gains for capital operations and projects and provide deeper contextualization and enhanced visualization.
Provides DCW for construction companies—a digital twin integration platform to facilitate construction progress monitoring, speed up project completion, and simplify downtime management.
Provides immersive digital twins to predict asset lifecycles and deviations, monitor production parameters in real time, and send preventive alerts to minimize downtimes.
NVIDIA Omniverse™ is an extensible platform based on USD (Universal Scene Description) that enables individuals and teams to create and operate metaverse applications.
Artists, developers, or enterprises can use this platform to build custom 3D pipelines and simulate large-scale virtual worlds faster than ever.
Rockwell’s Emulate3D digital twin software enables customers to see how a machine runs, discover control issues, and even transport personnel to a virtual world to train on twin software systems.
Provides digital twins for insights (such as monitoring tunneling in real time and predicting anomalies in construction processes) into asset utilization, quality standards, and safety protocol management in tunnel construction projects.
Unity Pro is a dynamic real-time 3D platform that powers the world’s digital twins to decrease machinery downtime, drive better remote collaboration, extract better value from digital data, increase revenue, simulate operations, and train personnel.
A single source of truth across the entire utility IT landscape is essential to achieve optimal system performance and maintain operational excellence. This is where the electrical digital twin simplifies the data maintenance and exchange process for utilities and helps plan, operate, and maintain grids with a digitalized model of the physical world.
Blackridge Research & Consulting’s Global Electrical Digital Twin Market report provides deep insights into the current and future state of the electrical digital twin industry supply chain, structure, and key company profiles.
Furthermore, the report offers a meticulous analysis of the competitive landscape, market drivers and restraints, market segments, significant commercial developments, and more.
Contact expert analysts for custom research services and free report customization.
Digital models can effectively control, simulate, and monitor physical assets, processes, systems, and more using real-time data gathered from several IoT sensors.
For example, the process digital twin uses AI, high-performance computing, and mixed reality to optimize not only equipment but also the manufacturing process.
The possibilities are truly incredible—from creating a data-driven digital twin of a city’s transport infrastructure to integrating with the IIoT (to provide the complex industrial environment with scalable and resilient digital twins).
The steady growth of the digital twin market shows that companies worldwide are willing to invest in digital twin projects and leverage a digital twin solution-powered business environment.
In this context, digital twin service providers are helping customers increase overall productivity and optimize business lifecycles.
Furthermore, digital twin solutions have a significant impact on reducing operational costs, risks, and time-to-market.
Various industries use multiple digital twins, including asset twins and process twins, for different purposes, such as:
As the world evolves rapidly with next-gen technologies, digital twin companies are creating unique opportunities for business growth and digital transformation.
