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Find out how digital twin technology is being used for real-time process visibility. In this article a research of StartUs Insights identifies the top 10 use cases across industries, based on analysis of over 700 companies.

Digital twins use historical and real-time data to visualise critical assets and processes, eliminating data silos and increasing visibility. Their applications span multiple industries, including construction, manufacturing, financial services, oil and gas, and more. This data-driven report provides insights from the analysis of 741 startups and technologies, ensuring you stay informed about emerging digital twin examples.

These solutions enable real-time process modelling and data-driven decision making, impacting 10 different industries.

StartUs Insights Tree Map highlights leading applications of digital twin technology across industries According to the Innovation Map, the tree map below illustrates the standout examples of digital twin technology in 2023 and 2024 across various industries.

Key use cases include process and asset optimisation, applicable to the construction, manufacturing, energy, oil and gas, automotive and aerospace sectors. Automotive and aerospace manufacturers also use digital twins for engineering decision support.

Impact of Digital-Twin-in-startups-Tree-Map

Transportation companies are using digital twins to improve logistics planning, while healthcare organisations are using them to deliver personalised care. Climate change modelling and carbon offset project tracking are other applications. In the financial sector, digital twins play a role in reducing financial fraud and improving cyber risk management.

Top 10 examples of digital twins in 2023-2024

1. Construction
Construction companies have traditionally used building information modelling (BIM) systems, but digital twins provide real-time information on ongoing projects, focusing on the interaction between people and space to improve design and project planning. Sensat, a UK-based startup, offers digital twin software to analyse the built environment and optimise project tracking and coordination.

2. Manufacturing
Digital twins integrated into manufacturing workflows increase visibility, identify process inefficiencies and improve maintenance planning. Quick Algorithm, an Italian startup, offers an AI-based computerised maintenance management system (CMMS) for digital twins in manufacturing to optimise asset management and reduce operational costs.

3.Energy Digital twins in the energy industry stress test and monitor assets, visualise fluctuations in power demand, and enable virtual power plants. SEKAI, a Swiss startup, provides digital twin software for wind turbines, automating testing and predictive maintenance.

4. Transport Digital twins optimise routes, improve maintenance planning and increase safety in transport. Swarm Logistics, a German startup, offers an AI-powered digital twin solution for controlling transport fleets, reducing planning costs and increasing efficiency.

5. Automotive Digital twins in the automotive sector improve maintenance planning, real-time visibility and simulation for different scenarios. Fabrik, an Indian startup, provides live streaming of manufacturing data for automotive companies, optimising equipment effectiveness and reducing production time.

6. Healthcare Digital twins enable remote asset visibility, personalised healthcare and surgical planning in the healthcare sector. Verto Health, a Canadian startup, provides a digital twin orchestration platform for healthcare institutions to improve patient outcomes and scheduling.

7. Aerospace Aerospace manufacturers use digital twins to visualize production processes, identify quality issues, and optimize design decisions. Miura Simulation, a French startup, provides real-time simulation twins for aircraft manufacturing, reducing material costs and production time.

8. Environment & Climate Digital twins model climate change, track environmental conditions, and aid in carbon offsetting strategies. ClimaTwin, a US-based startup, offers climate risk intelligence for infrastructure development, ensuring compliance and minimizing environmental impact.

9. Finance Digital finance twins simulate customer profiles, enhance security, and improve risk management in the finance sector. TODAQ, a Canadian startup, enables peer-to-peer trading using decentralized digital twin agents, streamlining digital asset trade.

10. Oil & Gas Digital twins in oil and gas enable remote monitoring, early detection of equipment failure, and data-driven decision-making. Dinur Soft, a UK-based startup, improves oil and gas well management through machine learning, predictive analytics, and digital twins.

By exploring these examples, businesses can harness the power of digital twin technology across diverse industries for improved efficiency and decision-making.

→ Source: https://www.startus-insights.com/innovators-guide/digital-twin-startups