Frost Radar™: Digital Twin Platforms, 2023

Frost Radar™: Digital Twin Platforms, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

A digital twin is a virtual copy of a physical entity, which can be a product, system, component, or network of more complex systems. While a physical entity typically refers to tangible objects, a digital twin can also replicate a process, simulating and analyzing its performance. Thus, a digital twin can serve as a tool to virtually replicate and monitor various aspects of a physical system, including its design, performance, and maintenance.

Digital twins allow companies to simulate the operations of assets or systems in real time under different operational scenarios without making changes in the real world. This technology, once reserved for equipment and machinery, is becoming more appealing to a broader range of applications, speci?cally in the IoT domain, owing to improvements in computational power and advancements in AI-driven analytics. Digital twins are now being used to represent more complex entities or networks of connected entities, presenting ample growth opportunities for any business.

The core idea of using a digital twin for studying a physical object began decades ago. NASA pioneered the use of digital twin technology in the 1960s during space exploration missions when it replicated each voyaging spacecraft in an earthbound version for study and simulation purposes by NASA personnel serving on flight crews.

The digital twin platform market is fragmented and comprises multiple stakeholders, including cloud providers, technology companies, industrial automation companies, and software vendors. This Frost Radar™ provides a comprehensive analysis of the digital twin platform solutions of cloud providers and technology companies.

In a ?eld of hundreds of industry participants, Frost & Sullivan independently plotted in this Frost Radar™ analysis the top 10 companies that excel in digital twin platform sales and ability to drive visionary innovation in the past year. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.