Digital Twins for Business Growth: How it Helps with Overall Development
Published: 2024-05-09 05:42:42


![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/0uuo1tfx6tbexd911ylt.png)
> The digital twin technology is an innovative technology that includes the creation of virtual replicas of physical assets. A few products, machines, or the entire ecosystem may include the virtual counterparts. The Digital twins for business growth include advanced technologies like AI, ML, and IoT. Read this blog to learn how digital twins are transforming businesses across industries.

One of the best [digital twin technology](https://www.tntra.io/blog/ai-ml-iot-in-manufacturing/) examples is the IntelligentEngine program by Rolls Royce. It is to reduce the downtime and improve the reliability of the products. There will be no costly breakdowns by using digital twin models.

Rolls Royce has used one of the most important digital twin use cases in the Aviation industry. Rolls Royce used Eagle Engines for the first time in 1919, and it took two British pilots, Arthur Brown, and John Alcock, on their first transatlantic flight. Over many years, Rolls-Royce aviation has taken a 360-degree turn with the emergence of electric systems and the efficient working of gas turbines. 

One of their new digital twin technology solutions is the IntelligentEngine program, which will solve issues related to civil aviation. It will help address the immediate needs of the aviation industry. Moreover, future demands related to passenger travel and air transportation can be sorted by creating virtual prototypes to remove any flaws during manufacturing. This digital twin technology application under the IntelligentEngine program helps bring together the varying expertise of [product engineering](https://www.tntra.io/engineering) to the aftermarket services.

Along with IFS, Rolls Royce is working towards seamless implementation of digital twin solutions, and making necessary predictions when launching engines or addressing the component failures immediately. This smart program by the company will help improve the way after-sales support is provided to end users. The Intelligent Engine program is now used everywhere, from testing, maintenance, assessments, and diagnosis.

**Source**: [Rolls Royce](https://www.rolls-royce.com/media/our-stories/discover/2020/intelligentengine-explainer.aspx)

## Digital Twins for Business Growth: An Insight into the Statistical Approach

The digital twin insights include using [AI](https://www.tntra.io/blog/future-of-generative-ai-and-new-economy/), [IoT](https://www.tntra.io/iot-development-services), and [ML technologies](https://www.tntra.io/blog/big-data-machine-learning-optimize-supply-chain-decision-making/) alongside the digital twin technology to upscale how businesses perform their daily function. Companies provide smart [technology consulting solutions](https://www.tntra.io/technology-consulting) to increase the focus on predictive maintenance. Hence, [the digital twins’ market will grow to $110.1 billion](https://www.marketsandmarkets.com/Market-Reports/digital-twin-market-225269522.html) by 2028 from the present $10.1 billion. It will grow at a CAGR of 61.3%. 

![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/9x7mpc8w4jgf638uew5v.png)
**(Source:** [https://www.marketsandmarkets.com/Market-Reports/digital-twin-market-225269522.html](https://www.marketsandmarkets.com/Market-Reports/digital-twin-market-225269522.html))
The corporates will be [adding almost $30 trillion in revenue](https://www.mckinsey.com/industries/industrials-and-electronics/our-insights/digital-twins-the-key-to-smart-product-development) using the applications of digital twins technology in their companies. It will help them launch new products without wasting money or time. 75% of the companies will be [working towards digitization and will be using the digital transformation strategy](https://www.tntra.io/blog/importance-of-digital-transformation-in-todays-world/). Computing analytics and AI will help improve product development outcomes.

According to the [Gartner report](https://emt.gartnerweb.com/ngw/globalassets/en/publications/documents/2023-gartner-top-strategic-technology-trends-ebook.pdf), over 40% of businesses will use digital twins technology. 94% of the CEOs and Executives are working towards applying [digital transformation strategy and engineering concepts.](https://www.tntra.io/engineering) It will help maximize the data value and create secure business foundations. IoT implementation and automation will be encouraged, and there will be digital acceleration. 

## How does Digital Twin Technology Support Business Growth?

How do digital twins improve business? If you are searching for the answer, below is how this technology drives business growth. 

 

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**Operational Efficiency**

Various organizational sectors use the digital twin concept, such as manufacturing, retail, defense, retail, [healthcare](https://www.tntra.io/healthcare-software-solutions), etc. This technology helps to enhance efficiency and identify bottlenecks or remove repetitive tasks. Moreover, employees can focus on the high-value tasks that will drive overall productivity in an organization. It is one of the major digital twin technology benefits that will optimize your organizational performance and reduce downtime.

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**Supports Real-Time Decision Making**

[Digital transformation solutions](https://www.tntra.io/digital-transformation-services) are predominantly used in enterprises to empower the digitization process. The digital twin technology empowers the real-time decision-making process. This technology provides real-time solutions in nearly every sector, including healthcare, manufacturing, retail, etc. Organizations can adjust their plans according to the flaws recorded in the product’s digital twin. The product can be rectified before being launched into the market dynamics.

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**Leverages the Data for Profitability**

Let’s say the healthcare company is using some device remotely on patients. It will collect data about patients. How do we leverage particular data for a healthcare business’s growth? This is where the visual representation curated using Digital Twin technology will work. 

The data will be collected using a digital twin of that product. It will be carefully analyzed and synchronized according to the business’s operations. Companies can integrate modern software product engineering solutions and the digital twin for more accurate results. The proper results will help the companies remove bottlenecks and push themselves towards growth.

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**Cost and Time Saver**

Customized products in software engineering and digital twins in enterprises are changing how modern businesses work. The digital twin technology can help reduce costs and unnecessary waste and enhance productivity. Moreover, the right resources will be provided for the final product. It will save time for the company and the manufacturing department in particular. This way, employees can focus on other important tasks.

## Partner with the Right Software Solution Provider!

Digital transformation consulting is the key to integrating the digital twin concept into organizations or large enterprises. It will help companies save more on their cost and reduce any wastage that will further lead to increased downtime. The right software product solution provider like Tntra Engineering can help you. We at [Tntra](https://www.tntra.io/) understand the modern-day concepts of innovation and digital transformation. Our experts will help you curate a visual representation of your products without hassle.

[Call Tntra](https://www.tntra.io/contact-us) specialists today to understand how we can bring the desired changes and help you achieve business growth!