Forrester Lists Neewee Amongst Digital Twin Service Providers in 2022 Report

Neewee is honored to have been named on a vendor list of Digital Twin Service Providers published in the prestigious Forrester report. Read to find out how the digital twin adds value to your manufacturing!

In the recent report published by Forrester, Now Tech: Digital Twin Service Providers, Q1 2022, which analyses the digital twin service provider market, vendors were listed based on market presence and functionality. The overview provides a list of digital twin service providers. All have been segmented into three categories based on digital twin solutions revenue—large established players (>$1,000 million in Annual Category Revenue), midsize players ($100 million to $1,000M in ACR), and smaller players (<$100M in ACR). Also, as per functionality, the market is divided into three segments. 

Neewee is honored to have been listed as a small vendor in the digital twin operator primary functionality segment with a vertical market focus on chemicals, pharmaceuticals, metals, aerospace, food, and beverage. Neewee is also proud to have provided information for the research, too.  

Tech execs must read Forrester’s full report now published here (available to Forrester subscribers and for purchase)

For those who would like to learn more about the digital twin, read on!

What Is a Digital Twin?

According to the Forrester Now Tech report, a digital twin is “a digital representation of a physical thing’s data, state, relationships, and behavior.” [1]

All the data of the physical counterpart—its state, relationships, and behavior—is taken in to create a virtual model. The link that forms the bidirectional loop of data between the physical manufacturing system and its digital model is called the Golden Thread. A cleverly deployed digital twin can turn your manufacturing towards productive and efficient processes.

Neewee’s Process Digital Twin

Industry 4.0. is all about the digital transformation of the manufacturing industry. However, for a holistic digital transformation of an entire facility, we need to consider the entire manufacturing value chain as a set of connected processes. Propagating connectivity is at the foundation of Neewee’s philosophy. To enable seamlessly efficient manufacturing, Neewee accordingly developed the AI apps. 

When a digital replica gets created, every manufacturing process—not just the assets—from start to finish get connected to provide an end-to-end view of every step in the workflow. Staying ahead of the curve, Neewee successfully innovated the Process Digital Twin for integrating data by mapping different processes in the manufacturing value chain. A digital twin is created for five different dimensions of the interacting parameters—process parameters, product parameters, asset, work centre, and external factors. Then each gets connected, from upstream to downstream activities, supply chain, etc., to simulate the overall outcome. 

The Value Manufacturers Can Expect from a Digital Twin Service Provider 

The digital twin is an Artificial Intelligence (AI) technology used for data-driven simulation and testing of various scenarios before publishing the actual production plan. It helps manufacturers monitor batches and make decisions about optimum utilization of their resources and the efficiency of their processes. They can also be used for training purposes, where employees can learn how to handle process variations and even predict problems before occurrence in reality.

By aligning digital twin AI solutions to your organization’s needs, you can tackle a host of business challenges: 

  1. Integrated data analytics can power the digital twin to identify important parameters influencing the process workflows or smooth functioning of an asset fleet. It simplifies the analysis of the root cause for variations. 
  2. The digital twin can detect the risk of accidents and predict unplanned asset downtime. Thus, it helps prevent bottlenecks and pile-up of WIP.  
  3. Real-time simulation of production processes provides end-to-end visibility to the planners across the organization and improves process control.   
  4. The digital twin allows the integration of legacy factory equipment into a digital environment. Thereby facilitating the collection of data that would otherwise have gone non-measured. That is useful in meeting the increasing need for adopting Lean manufacturing methods in Industry 4.0.
  5. Digital twin data can enable the production team to gain insights and make timely decisions for process correction and ensure quality at the same time. Saving the manufacturer lot of time and money that could be wasted in trial and error. 
  6. Product Prototyping and Quality Control Management are two massive manufacturing challenges that the digital twin helps overcome.
  7. A digital twin operator will not only provide tools for customers to build digital twins, but it also runs, analyses, and optimizes the digital twin for the customer. 

According to the Forrester report, you can improve operational effectiveness by engaging the services of a digital twin operator. With the help of a digital twin service provider, tech execs can derive the following benefits [2]:

  • Realize returns on digital twin investment more quickly.
  • Get to focus more on your business requirements and less on the undifferentiated heavy lifting or maintenance of the digital twin.
  • Extract insight from both IT and operational technology (OT) data silos.

The concept of the digital twin was first published in David Gelernter’s book ‘Mirror Worlds’ in 1991. Michael Grieves of the Florida Institute of Technology went forth and introduced the concept to the manufacturing industry in 2002. However, NASA used it first to create digital simulations of space capsules and craft for testing. Finally, in a 2010 Roadmap Report, John Vickers of NASA gave the concept its name. [3] And there’s been no looking back ever since! 

Digital Twin market size exceeded USD 5 billion in 2020 and is expected to grow at a 35% CAGR between 2021 and 2027. Increasing adoption of IoT, big data analytics, and the advent of AI/Machine Learning technologies in manufacturing sectors ranging from Automobile and Aerospace to Pharmaceutical & Healthcare are likely to fuel the industry’s growth. [4]

With the advent of AI, rolling out the digital twin is a proud pleasure for a digital twin service provider like Neewee and a joy to experience for the manufacturer. 

As always, feel free to contact us and schedule a demo’ now!

References:

[1] and [2] Miller, P., Matzke, P., Kortenska, E., & Barton, J. (2022, February 17). Now Tech: Digital Twin Service Providers, Q1 2022. Forrester. https://www.forrester.com/report/now-tech-digital-twin-service-providers-q1-2022/RES177089

[3] TWI. (n.d.). What is Digital Twin Technology and How Does it Work? Www.twi-Global.com. Retrieved February 24, 2022, from https://www.twi-global.com/technical-knowledge/faqs/what-is-digital-twin#WhatChallengeshasitSolved

[4] Digital Twin Market Size, Growth Forecast Report 2027. (2021, July). Global Market Insights Inc. https://www.gminsights.com/industry-analysis/digital-twin-market

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