Automotive Digital Twin Technologies Market, 2022: Frost Radar™ Report

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Geopolitical tensions arising as a result of the COVID-19 pandemic, trade disputes, wars between countries, and other factors have prompted automakers and their suppliers to employ digital technologies to minimize operational disruptions, reduce costs and resource utilization, remove geographical constraints, optimize performance, and enhance product offerings.

Digital twinning now has a role in product design, supply chain modeling, manufacturing, sales, and after-sales services. The technology has become even more relevant to the automotive industry with the emergence of connected, autonomous, shared, and electric vehicles that generate vast amounts of data. Services for the automotive industry are in the emerging phase as clients and potential customers continue to explore the technique’s diverse benefits. Digital twinning is the common underlying concept but its application across the different areas of the automotive value chain varies widely and demands diverse expertise.

The metaverse and artificial intelligence are significant in this space: the metaverse could become the common tool/platform in which digital twins are created; artificial intelligence is a fundamental component in the creation of a digital twin. Developments in Industry 4.0/5.0 technologies also have a direct effect in this area.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. The research team analyzes numerous companies in an industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned.