How Digital Twins Can Save the Global Mobility Market from Expensive Errors

Digital twins can optimize decision-making,predict supply chain disruptions,and unlock new revenue streams,says Frost & Sullivan

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 analysisondigital 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.

Digital Twin Model Car

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"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 Mobilityis 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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