Information Technology Frost Radar™: Digital Twin Platforms, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines


RELEASE DATE
01-Aug-2023
REGION
Global
DELIVERABLE TYPE
Frost Radar

RESEARCH CODE
K8CA-01-00-00-00
SKU
TEMP_2023_43
Yes
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Frost Radar™: Digital Twin Platforms, 2023
Published on: 01-Aug-2023 | SKU: TEMP_2023_43

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A digital twin is a virtual copy of a physical entity, which can be a product, system, component, or network of more complex systems. While a physical entity typically refers to tangible objects, a digital twin can also replicate a process, simulating and analyzing its performance. Thus, a digital twin can serve as a tool to virtually replicate and monitor various aspects of a physical system, including its design, performance, and maintenance.

Digital twins allow companies to simulate the operations of assets or systems in real time under different operational scenarios without making changes in the real world. This technology, once reserved for equipment and machinery, is becoming more appealing to a broader range of applications, speci?cally in the IoT domain, owing to improvements in computational power and advancements in AI-driven analytics. Digital twins are now being used to represent more complex entities or networks of connected entities, presenting ample growth opportunities for any business.

The core idea of using a digital twin for studying a physical object began decades ago. NASA pioneered the use of digital twin technology in the 1960s during space exploration missions when it replicated each voyaging spacecraft in an earthbound version for study and simulation purposes by NASA personnel serving on flight crews.

The digital twin platform market is fragmented and comprises multiple stakeholders, including cloud providers, technology companies, industrial automation companies, and software vendors. This Frost Radar™ provides a comprehensive analysis of the digital twin platform solutions of cloud providers and technology companies.

In a ?eld of hundreds of industry participants, Frost & Sullivan independently plotted in this Frost Radar™ analysis the top 10 companies that excel in digital twin platform sales and ability to drive visionary innovation in the past year. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.

Digital Twin Platforms 2023

  • Digital Twin Platforms

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
Speak directly with our analytics experts for tailored recommendations.

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A digital twin is a virtual copy of a physical entity, which can be a product, system, component, or network of more complex systems. While a physical entity typically refers to tangible objects, a digital twin can also replicate a process, simulating and analyzing its performance. Thus, a digital twin can serve as a tool to virtually replicate and monitor various aspects of a physical system, including its design, performance, and maintenance. Digital twins allow companies to simulate the operations of assets or systems in real time under different operational scenarios without making changes in the real world. This technology, once reserved for equipment and machinery, is becoming more appealing to a broader range of applications, speci?cally in the IoT domain, owing to improvements in computational power and advancements in AI-driven analytics. Digital twins are now being used to represent more complex entities or networks of connected entities, presenting ample growth opportunities for any business. The core idea of using a digital twin for studying a physical object began decades ago. NASA pioneered the use of digital twin technology in the 1960s during space exploration missions when it replicated each voyaging spacecraft in an earthbound version for study and simulation purposes by NASA personnel serving on flight crews. The digital twin platform market is fragmented and comprises multiple stakeholders, including cloud providers, technology companies, industrial automation companies, and software vendors. This Frost Radar™ provides a comprehensive analysis of the digital twin platform solutions of cloud providers and technology companies. In a ?eld of hundreds of industry participants, Frost & Sullivan independently plotted in this Frost Radar™ analysis the top 10 companies that excel in digital twin platform sales and ability to drive visionary innovation in the past year. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.
More Information
Deliverable Type Frost Radar
Industries Information Technology
No Index No
Is Prebook No
Keyword 1 Digital Twin In Industry
Keyword 2 Digital Twin Application
Keyword 3 Industrial Digital Twin
Podcast No
WIP Number K8CA-01-00-00-00

Frost Radar™: Digital Twin Platforms, 2023

$4,950.00

Special Price $3,712.50 save 25 %

In stock
SKU
TEMP_2023_43