The deployment of digital twin technology assists in the visualization of the infrastructure assets in an efficient manner, presenting the entire lifecycle of the asset, tracking change and performing analysis for optimizing asset performance. The infrastructure buildings segment is expected to soar, owing to the integration of the Internet of Things (IoT), reality data and engineering data; access to holistic data enabling surveillance of infrastructure below and above the ground is possible.The utilization of digital twin technology aids significantly in decision-making and, consequently, better outcomes, advancing Europe’s digital twin technology market share.
Leading industry players have been contributing toward Europe’s digital twin market growth by offering advanced solutions to the construction industry. For instance, in December 2020, Microsoft announced its global partnership with Ireland-based Johnson Controls to integrate two digital platforms, Azure Digital Twins and OpenBlue Digital Twins. The collaboration seeks to surround the entire ecosystem of the building and device management technologies with digital cloud technologies.
Since Italy is continuously exploring the application of the technology across electricity grids, in addition to the maritime and logistics industries, it appears to be a highly promising geographical segment of the Europe digital twin market over the coming years. Recent developments across the nation have been setting the stage for the expansion of Europe’s digital twin technology. market size.
For instance, Ericsson has been utilizing a digital twin engine to recreate the Livorno Port area in real time. Digitalized 3D models of the general cargo freights and the storage space enable accurate localization of goods, fundamental to the optimization of the space. They also enable faster retrieval of an object at the right time, ensuring smoother loading of cargo at the port.
Along the same lines, digital twin technology is being used in the form of digitalized 3D models of the electricity grid in the identification of single components, as well as their state of operation using multiple sensors across the grid.