Industrial Transformation Blog

The Digital Twin market is evolving fast – yes, it affects strategies of independent software vendors and automation vendors. But, it also has significant implications for field service providers, engineering, procurement, and construction (EPC), and process licensors. It’s quite surprising to see how many different types of companies could be or are already involved with Digital Twin.

Every year LNS Research puts forth predictions around the key trends in Industrial Transformation. Dan Miklovic’s 2018 forecast focused on the evolution of asset performance management (APM) 4.0 with the shift in messaging to business-driven benefits, the growth of Digital Twins, autonomous device support, and the evolving vendor landscape. In our 2018 Report card, I noted that the Digital Twin is evolving to include the physical and process aspects of the twin. This evolution is happening primarily at two levels, in the design and engineering space, and in the operations space. However, there is still a lack of general industry understanding of what constitutes a Digital Twin.