According to the Hexagon Digital Twin Industry Report 2024, based on surveys with 660 senior executives across 11 industries, 96% confirm that Digital Twins deliver tangible business value. What was once considered a futuristic concept has now become a strategic tool for driving efficiency, sustainability, and innovation.
Companies that have adopted Digital Twin technology are reporting impressive results:
Revenue growth & cost reduction: On average, +19% increase in revenue and –19% reduction in operating costs.
Operational excellence: Improved efficiency, proactive problem-solving, reduced risks, and better customer satisfaction.
Asset longevity: Extended lifecycle of systems and equipment, cutting maintenance costs.
Sustainability impact: 38% of organizations report significant carbon reduction, averaging 15% less emissions.
One striking finding: Digital Twins consistently deliver more value than leaders initially expect.
For example:
Only 19% of companies without a Digital Twin believed it could significantly boost collaboration.
In reality, 44% of adopters are already experiencing this benefit.
This gap highlights a simple truth: the true impact of Digital Twins only becomes clear once implemented.
The rise of AI is accelerating Digital Twin adoption. The report shows 80% of leaders became more interested in Digital Twins because of AI, which plays a key role in:
Building: Processing real-world data and filtering noise.
Updating: Cutting time and cost for data refreshes.
Accessibility: Making insights easier to use via visual dashboards or natural language queries.
Together, AI and Digital Twins form a powerful duo for digital transformation.
Digital Twins are no longer limited to global corporations. Small and mid-sized businesses (SMBs) are also gaining measurable benefits:
65% report improved efficiency.
Many achieve 21–30% annual ROI, often higher than larger peers.
This shows that company size is no barrier to unlocking Digital Twin value.
The two main challenges organizations face are:
Data quality (43%)
Integration and interoperability (42%)
Yet, even “imperfect” Digital Twins are creating substantial value. A step-by-step, phased approach is helping businesses prove value early and scale with confidence.
Digital Twin technology is no longer hype – it is a strategic foundation for companies that want to:
Boost performance and cut costs,
Ensure sustainable operations,
Prepare for a fully digital, AI-driven future.
At NEAX, we believe Digital Twins will empower both large enterprises and SMBs to compete and thrive in the next era of digital business.
