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The number of urban Digital Twins to exceed 500 by 2025, and that implementation will expand beyond limited pilots to widespread multi-purpose deployments, according to ABI Research
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 US$3.8bn in 2019, to US$35.8bn per year by 2025, at a CAGR of 45.4%, according to Markets & Markets Digital Twin report.
Dominique Bonte, vice-president, End Markets at ABI Research, said, “Real-time 3D models of cities-built environment allow scenario analysis through the simulation of the potential impact of natural disasters like flooding, generative design principles for new city developments (which optimize) energy savings and solar capacity, and saving costs by operating cities more efficiently and effectively.”
“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.
Michael Jansen, CEO and founder of Chicago based Cityzenith who are currently raising capital through Regulation A+ crowdfunding, 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.”