Digitalization has provided the opportunity of reinvention of the industrial sector through the intelligent use of data and application of technologies from the fourth industrial revolution for better efficiency and operation control.
But how effectively can a complex industry like the steel industry change its operation to better management of assets, energy efficiency, and serious accident prevention? The solution may lie in the digital twin.
Digital Twin: Predict the Future
The digital twin is one of the technologies that quickly became popular thanks to its high applicability. It is through its use that industries can base their actions on refined data from a flow of contextualization. A digital twin is by definition the continuous flow of data from a real asset to its digital replica
It is thanks to the use of this technology that many industries have been able to deeply understand their processes and actively work to improve their performance, safety, and energy efficiency.
From the moment that decision-makers base their actions on a continuous flow of contextualized data, the visualization of elements, identification of anomalies, and loss of performance, become more assertive and efficient.
In addition, the application of Digital twin has added high value to operations thanks to its integration and interoperability with pre-existing systems in the operation, making the search for necessary documents for carrying out activities much faster.
Being aware of everything that happens within the operation is essential for greater safety, however, the digital twin can also acquire a predictive feature and not just a prescriptive one.
The use of machine learning in this technology is the starting point for Digital Twins not only to tell us what exactly is happening now in the operation but also to tell us the future.
According to data collected by markets and markets, the size of the global digital twin market was valued at $3.1 billion in 2020 and is projected to reach $48.2 billion by 2026. It is expected to grow at a CAGR of 58% during the forecast period.
Thus, we can conclude that the digital twin has generated high relevance amidst the strong industrial digitization process and could be the steel sector’s answer to the challenges that compromise its future.
If you want to better understand this technology, download the ebook using the form below