Building the Industrial Metaverse on Open Digital Twins - Panel Discussion - ARC Forum 2023

Global process manufacturers will share their vision for open-asset digital twins and the Industrial Metaverse. This vision promotes innovation and value creation, readily integrates twins, affords access to leading-edge twin capability and performance, and improves the sustainability of twins after project handover and across the entire lifecycle of assets. Open twins are needed to accommodate various applications and business processes in the largely underserved operate and maintain phase of an asset lifecycle. The implications for this new initiative are far-reaching into process manufacturers' operating and business systems and their technology suppliers and service providers.

The current versions of digital twins have improved some business performance but need a significant overhaul to promote innovation, value creation, and sustainability. In the future, twins will be open, standards-based, and use a common federated data model to normalize data from diverse data types or sources and vendors for aggregation and contextualization via the industrial metaverse consumption platforms. A standard set of definitions of the data sets is required. Twins will contain a level of intelligence in the data model.

ARC Advisory Group is the leading technology research and advisory firm for industry, infrastructure and cities. Our coverage of technology and trends extends from business systems to product and asset lifecycle management, Industrial IoT, Industry 4.0, supply chain management, operations management, energy optimization and automation systems. Our analysts and consultants have the industry knowledge and the first-hand experience to help find the best answers to the complex business issues facing organizations today.