Altair Survey Reveals Digital Twin May Make Physical Prototyping Obsolete Soon
Global survey finds adoption of digital twins across industries, delivering transformative business impact in product development, risk assessment and sustainability.
September 16, 2022
Altair has released results from an independent, international survey, which confirms a surge in worldwide adoption of digital twin technology. The survey of more than 2,000 professionals gauged digital twin technology adoption and assessed how organizations across all industries are using it, its business benefits and environmental impact.
Though the survey confirmed many of digital twin technology's expected benefits, such as more accurate and accelerated product development, it also revealed this prediction: Two in three respondents (67%) expect digital twin solutions to make the need for physical prototypes obsolete within the next 6 years.
Respondents reported a strong connection between digital twins and the drive for sustainability. A significant 85% of respondents' organizations are currently using or plan to use digital twin technology to reach their overall sustainability goals.
“There's little doubt data gleaned from using digital twins gives organizations a world of new insight, helping teams work faster, create better products, generate less waste, and find their next big breakthrough,” says James R. Scapa, founder and chief executive officer, Altair. “But as this study confirms, we are just seeing the tip of the iceberg. The evolution toward a smart, connected everything is changing the world, and as businesses realize the untapped benefits of taking digital twins to the next level, including the convergence of simulation technology, high-performance computing, and AI, the possibilities for revolutionizing industries, business processes, and scientific research are endless.”
More key findings from the survey include:
Breakneck Adoption Rates
- Nearly three in four (69%) organizations are already leveraging digital twins.
- 71% of those businesses began investing in the technology in just the past year.
- Of those organizations not using digital twins, nearly half expect their company to adopt the technology within 3 years.
The survey found digital twins are simulating the way to a net zero future, as 92% of respondents indicated the technology has improved sustainability within their organization.
Organizations use digital twin technology for various functions and reasons, with top use cases including:
- 95% to better inform new product development
- 51% to create smart objects
- 50% to monitor real-world objects in real time
Respondents reported where they see the greatest impacts of digital twin technology:
- More accurate risk assessments, faster time to market and improved customer satisfaction (73%)
- Reduced maintenance and warranty costs (62%)
- Nearly three in four respondents (73%) said the technology has made their products or processes more energy-efficient and/or less wasteful.
- Helping companies reach their sustainability goals in the efficient use of resources (76%), energy savings and saving on operating costs (74%), and waste reduction (60%)
Respondents from the consumer electronics, architecture, engineering and construction (AEC), and industrial equipment sectors were the most likely to say their organizations lowered maintenance and warranty costs using digital twin technology.
Altair conducted the global survey between May 4 and May 24 and drew 2,007 responses from professionals employed throughout several target industries who have job functions ranging from data science, the Internet of Things (IoT) and analytics, software engineering, research and development, engineering, information technology (IT)/information systems (IS), product development and executive management. The sample consists of participants from 10 countries: the United States, China, France, Germany, India, Italy, Japan, South Korea, Spain and the United Kingdom.
Sources: Press materials received from the company and additional information gleaned from the company’s website.