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Oct 2017 - IDC Perspective - Doc # AP43126917

Siemens Analyst Conference 2017 — The Role of Digital Twins in Driving Business Model Transformations

Authors: Sampath Kumar Venkataswamy, Jeffrey Hojlo, Heather Ashton, John Santagate, Lorenzo Veronesi, Max Pepper

Abstract

This IDC Perspective provides updates on Siemens' industry offerings presented during Siemens' annual analyst advisory event held on September 5–8, 2017 in Boston. The event showcased Siemens' strategy around its acquisition of Mentor Graphics, updates about MindSphere (the IoT cloud-based platform) and its capabilities in monitoring product performance through digital twins, and providing data hosting and analytics options to the manufacturing community.

"Siemens was one of the first software vendors to espouse the value of applying digital twins broadly in an organization, beyond design and engineering. This is the third Siemens analyst event in a row in which applying simulation broadly in the organization through digital twins was discussed. This persistence may begin paying dividends. In the past year, we have seen increased interest from manufacturers in digital twins, at least to understand how they could be applied to their businesses, from design to development, supply chain, and manufacturing," says Jeffrey Hojlo, program director, IDC Manufacturing Insights.

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