Organizational factors
The adoption of Digital Twins by industrial giants will drive a key digital transformation in these companies. They will become software companies of some sort. This phenomenon can already be seen in many large industrial giants in the last 5–7 years. Let's take a look at the examples of companies such as Honeywell, GE, Siemens, ABB, Hitachi, Bosch, Schneider Electric, and more:
- Honeywell: In July 2019, Darius Adamczyk, the CEO of Honeywell, said that the company is moving toward "a premier software-industrial company, with connected software sales continuing to grow at a double-digit rate organically." It created the Honeywell Connected Enterprise (HCE) unit to focus on such digital technologies as Industrial IoT (IIoT) software solutions.
- GE: GE decided to become a digital industrial company in the mid-2010s. GE's vision of a digital industrial company can be viewed in an infographic, which can be downloaded at https...