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Sensor and Digital Twins Conference
January 23 - January 24
Sensor technology has set its’ way to uplift the ability of IoT in today’s Information Age, championing the emerging scene of Industrial 4.0 into the industries masses. MarketsandMarkets states that the smart sensor market is expected to grow from US$18.58 Billion in 2015 to US$57.77 Billion by 2022, at a CAGR of 18.1 per cent between 2016 and 2022. The revolutionising sensor ability will bring infinite outbreaks of technological innovation in the future.
The fast-growing demands of automation and intelligence technology has shaped the sensor system to fulfil the gap of growth especially in IoT. Matthias Rebellius, CEO of Siemens Building Technologies says “Enlighted has a strong footprint in revolutionizing building intelligence by developing a multi-sensor-based IoT platform, using the power of data”. He mentioned strong footprint indicates that the sensor’s variants will be the forefront towards the integrated future for both enterprises and industrials.
Furthermore, the immense growth of automation has paved its way towards digital visualization that opens the door for greater possibilities, Digital Twins has made its way into the picture. The digital twins’ market was valued at US$1.82 Billion in 2016 and is expected to reach USD 15.66 Billion by 2023, at a CAGR of 37.87 per cent during the forecast period. The base year considered for the study is 2016, and the forecast for the market size is provided for the period between 2017 and 2023. The unique technology is arrayed to create disruption in numerous industries around the globe.
Digital twins drive the impact of the Internet of Things (IoT) by providing a dynamic way to check and control assets and processes. Thomas Kaiser, SAP Senior Vice President of IoT, says, “Digital twins are becoming a business imperative, covering the entire life-cycle of an asset or process and forming the foundation for connected products and services. Companies that fail to respond will be left behind.” Hence, Digital Twins develop enhancements to existing products, operations, and services, and can help stimulate innovation into new businesses.
Championing the forefront innovations of predictive analytics and seamless asset maintenance through wide-ranging digital monitoring. Trueventus’ Sensor and Digital Twins conference provides the platform to acknowledge potentials in bringing significant values towards revamping the entire product value chain through digital layer, forming well-documented methods for producing and modifying the assets, making sure a long-term product life cycles, and to leverage data from numerous sources for business profitability.