From real estate to pharma and retail: digital twins across industries
On an enterprise level, digital twin technology can cut costs, facilitate collaboration, and reduce manual maintenance and workforce requirements in smart buildings and factories.
For instance, in real estate, EY reports that digital twins can help reduce operating costs by up to 35%, lower carbon emissions, improve user experience, and create healthier workplaces.
They allow engineers, builders, and property managers to simulate, predict, and optimise every aspect of a facility, and enable automated progress monitoring, resource planning and logistics, and quality assessments.
Similarly, facility management and construction can tap the technology to enhance record-keeping, and performance testing and monitoring.
For example, on Temasek Polytechnic’s campus, a digital twin is set to be deployed to pinpoint faults, anticipate risks, and forecast facility conditions. This will come in the form of a digitally integrated facilities management services platform with 3,000 sensors providing real-time data to the copy.
In retail, the technology can improve the customer experience through better security, in-store planning, and energy management. It can also help retailers explore the interaction of different store layouts, customer journeys, schedules, and team movements.
The pharmaceutical industry also uses the technology to simulate, test, and optimise manufacturing processes. For instance, a digital twin created by Siemens, Atos, and GlaxoSmithKline that models a pharmaceutical process reduces time to market, cuts costs by 20% through waste reduction and increases product margins by up to 10% by improving product quality.
Elsewhere in the manufacturing industry, digital twins help keep equipment in optimal working condition, allowing for real-time monitoring and data collection and comparisons between actual versus expected performance.