Smart Cities Market Boom: 500 Urban Areas to Adopt Digital Twin Technology by 2025
Over 500 urban areas around the world are expected to adopt Digital Twin technology by 2025, a research has revealed.
The increased demand for Digital Twin Technology is said to be driven by the COVID-19 outbreak which has led to the rising demand for the establishment of smart building infrastructure to ensure optimum energy consumption around the globe.
According to ABI Research, the need to increase resilience and optimise resource management in light of COVID-19 will be among the key drivers for the growth of Digital Twins over the next five years.
The global tech market advisory firm expects the number of urban Digital Twins to exceed 500 by 2025, and that implementation will expand beyond limited pilots to widespread multi-purpose deployments.
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The latest quarterly report from ABI Research entitled Smart Cities and Smart Spaces positions Cityzenith alongside Bentley Systems and Microsoft as businesses best placed to capitalise in this expanding market.
It is estimated that the Digital Twin market will grow from $3.8 billion in 2019, to $35.8 billion per year by 2025, at a CAGR of 45.4%.
The Vice President, End Markets at ABI Research, Dominique Bonte, said: “Real-time 3D models of cities-built environment allow scenario analysis through the simulation of the potential impact of natural disasters like flooding, [adoption of] generative design principles for new city developments [which optimise] energy savings and solar capacity, and saving costs by operating cities more efficiently and effectively.”
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He noted that since the first Digital Twins were deployed in cities such as Singapore around three years ago, features have quickly expanded to enable a much wider range of application areas including infrastructure coverage planning and green infrastructure management. Boston is one city to have already employed the use of Digital Twins, alongside Helsinki, Jaipur and Dublin.
“The Digital Twin ecosystem system activity is growing quickly with more suppliers announcing more deployments in more cities,” said Bonte.
“Vendors like Dassault Systèmes and others are paving the way for extending urban Digital Twins to marketplaces and opening access to key metrics and dashboards to the citizens themselves, increasing their overall involvement and helping gain approval of city government decisions and policies.”
In order to help cities achieve carbon neutrality, Cityzenith announced in October 2020 that it will donate its Digital Twin software to up to 10 cities over the next year as part of their Clean Cities – Clean Future campaign. Additionally, Bentley Systems partnered with Microsoft to integrate Azure IoT Digital Twins and Azure Maps into its iTwins platform.
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The CEO and founder of Chicago based Cityzenith, Michael Jansen, said “We at Cityzenith welcome this news and are delighted to be a part of the growing Digital Twin industry. We believe our Clean Cities – Clean Future campaign can be a key component of this global effort towards cleaner cities and a safer environment.”
By Peace Obi