The automation industry is at the forefront of developing and implementing new and creative technology to improve efficiency and limit financial expenditures while delivering high-quality products and services. Digital twins are an integral part of the present and future of research and development.
Previously, manufacturers were stuck in the physical world when they wanted to create something new or redesign an existing product. They had to build models using raw materials and were required to build new models as they changed the concept. Digital twins takes planning and execution into a virtual environment that allows for quicker adjustments, changing of variables, and immediate cost analysis without using, and potentially wasting, physical resources.
There are many opportunities with digital twin technology, but there are also roadblocks to implementation, including integration with legacy systems, data quality, security, cost, regulatory compliance and workforce training. Addressing these roadblocks requires a comprehensive approach involving technology investments, organizational changes, skill development, and collaboration among stakeholders, including manufacturers, technology providers, regulators, and industry associations.
Below are recommendations for the manufacturing industry on how to best address the roadblocks to digital twin adoption:
Optimize Costs and Complexity
The goal of any technology is to provide cost savings while improving product quality and safety. According to a recent article by Andrew Burak, CEO and founder at Relevant Software, digital twins can increase efficiency by as much as 15% and reduce maintenance costs by 13%. Before recognizing these savings, a company must invest financial resources into creating a platform. According to a January 2024 article by RisingMax, the average cost of setting up a platform is between $45,000 and $60,000. Also stated in the article, factors such as the size of the business, outsourcing areas of the project, coding languages, and the complexity of the platform can increase the cost.
Read these recommendations in full in our Integr8 Playbook, “Diving into The Digital Realm: Harnessing the Power of Digital Twins,” here.
