Swedish IT giant Hexagon surveyed 660 business executives from 11 industries around the world and found that companies using digital twins – computer models – experience an average 19% cost savings and 22% annual return on investment.
Although 96% of executives said that they recognise the value digital twins can bring to their organisation, only 16% plan to substantially increase their investment in the technology in the next two years.
Hexagon’s Digital Twin Industry Report says that artificial intelligence (AI) integration is driving further interest in digital twins.
“Leaders are realising that AI is not just a feature but the key to maximising the potential of digital twins,” said Hexagon chief technology officer Burkhard Boeckem. “From processing massive data sets to driving smarter decision making, AI has become a core component of digital twin strategies. Organisations embracing AI will reap the rewards in efficiency, innovation and long-term growth.”
Digital twins are also helping companies meet sustainability goals; 78% of respondents reported reduced carbon emissions due to adoption. On average, these companies see a 15% reduction in emissions.
One of the report’s key insights highlights the gap between expectations and reality.
While only one in five respondents without a digital twin believe that a digital twin could help with collaboration, 44% of those with a digital twin experience collaboration benefits.
The report is available via hexagon.com
