PR Newswire
13 Sep 2022, 18:10 GMT+10
Global survey finds widespread adoption of digital twins across industries, delivering transformative business impact in product development, risk assessment, and sustainability
TROY, Mich., Sept. 13, 2022 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), today 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 utilizing it, its business benefits, and environmental impact.
Video: Say goodbye to the crash test dummy?
While the survey confirmed many of digital twin technology's expected benefits, such as more accurate and accelerated product development, it also revealed this surprising prediction: Two in three respondents (67%) expect digital twin solutions to make the need for physical prototypes obsolete within the next six years.
Additionally, respondents reported an overwhelmingly strong connection between digital twins and the drive for sustainability. 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," said 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."
Respondents also believe digital twin technology will reshape the way products are developed in the future:
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 ten countries: the United States, China, France, Germany, India, Italy, Japan, South Korea, Spain, and the United Kingdom.
Click here to learn more about the survey and view infographics that contain standout insights: https://altair.com/one-total-twin.
Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world - all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.
Media contacts | |
Altair Corporate | Altair Investor Relations |
Jennifer Ristic | Monica Gould, The Blueshirt Group |
+1.216.849.3109 | +1 212.871.3927 |
Altair Europe/The Middle East/Africa | |
Charlotte Hartmann | |
+49 7031 6208 0 | |
Video - https://www.youtube.com/watch?v=DkOcQr3Fqow
SOURCE Altair
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