A digital twin is a virtual representation of a process, a person or a physical asset. Think of it as the next-generation computer-aided design (CAD) models, which have long been used to create 3D replicas of buildings. A key difference between the two, however, comes down to IoT technology, which enables digital twins to be dynamic and up-to-date replicas of their matching physical asset. Manufacturing has been an early adopter of leveraging digital twins to improve supply chain operations, predict maintenance needs, and reduce operating costs. Now, organizations across multiple industries are embracing this technology innovation, and as a result the digital twin market is expected to grow from $6.9 billion in 2022 to $73.5 billion by 2027
How Digital Twins Help CRE Leaders Promote and Operate Space
In the commercial real estate sector, digital twins that consist of a 3D building information model as well as IoT data analytics can provide a real-time virtual representation of the physical building, as well as all of the information about the assets and spaces in the building. By centralizing data from across different areas into one shared environment, digital twins enable engineering, construction, IT and facilities management teams to more easily model the impact of performance, financial and environmental considerations before taking action. This is one reason why digital twins are gaining traction as a valuable tool at all stages of the commercial real estate lifecycle.
When it comes to promoting spaces, digital twins can make it easier to match prospects with the right facility without the need to conduct physical tours. Social distancing mandates in 2020 inspired CRE leaders to make virtual business practices the new normal, and digital twins provide investors, occupiers, developers, and asset managers with a ‘touchless’ means of viewing spaces safely and efficiently. When it comes to building out spaces, information about HVAC units, lighting systems, and more can be embedded in digital twins, making it easier for owners get more accurate bids, and for contractors to more efficiently plan and complete projects. And by integrating real-time system usage data, digital twins can improve operations by maximizing the efficiency of lighting, temperature, airflow, etc.
Digital twins are also getting a lot of attention for their ability to help reduce the environmental impact of real estate, which is a key priority for Investors, owners and occupiers given that the built environment is responsible for nearly 40% of global carbon emissions. A report from the Capgemini Research Institute revealed that organizations across major sectors, including commercial real estate, are looking to digital twins to not only improve operational performance, but also to understand and predict their energy consumption and emissions. Collectively, the report revealed that those that have already begun implementing digital twin technology are realizing an average improvement of 16% in sustainability metrics.
Infrastructure Supports Cutting-Edge CRE Applications
The right network infrastructure can make it easier to adopt new technologies and applications – including digital twins. In smart buildings, for example, connected devices such as lights, security, HVAC, and AV converge on the IP network where these systems communicate with each other, collect actionable data, and fuel efficiencies. High-performing, highly reliable networks rely on Panduit infrastructure solutions to connect devices and deliver voice and data wherever they are needed. Our standards-compliant solutions help meet sustainability goals, are widely available, install quickly and easily, and are engineered to outlive the network.
Download our solution guide, Network Infrastructure for Commercial Real Estate, to learn more about robust, reliable solutions for commercial real estate environments.
For more information on how Panduit infrastructure can help deliver seamless connectivity and the latest technology, check out the commercial real estate section of our website.
