Market observation: Industrial metaverse will drive the global smart manufacturing market to $540 billion

Trendforce, a market research institution, recently released a report that industrial metaverse will accelerate the development of relevant technologies in the global smart manufacturing market. It is expected that the annual compound growth rate of relevant market scale will reach 15.35% in the next five years and will exceed US $540 billion in 2025.

Trendforce points out that the metaverse concept can meet the rising market needs of remote operation, virtual reality and simulation operation, and smart manufacturing is also expected to take advantage of this upsurge to accelerate the development of relevant technologies. The main reasons are that the industrial application market is closed, the digitization of large industrial plants is generally high, and simulation technology can greatly reduce manpower Time cost and resource waste are added to the core of industry 4.0, that is, the cyber physical system (CPS), which makes the industry have the inherent advantages and motivation to build metaverse.

As for the mainstream diversified tools of smart manufacturing, it is regarded as the “digital twin” of industrial 4.0 application by many large manufacturers. It can simulate the physical world with digital data and bridge the characteristics and benefits of virtual and real, making it the key technology to build the prototype of metaverse. In the metaverse technology stack proposed by Microsoft, the modeling benefit provided by digital twins is a key link.

At present, digital twins are mostly digital simulations of a single product or production line. The main reason is that products must have sufficient data database to improve simulation reliability. For example, Boeing uses digital twin technology to build engine, Unilever analog production line to reduce waste, etc.

According to the report, metaverse’s promotion of digital twin industrial applications in the short and medium term is expected to focus on personnel training, remote maintenance, energy monitoring and predictive maintenance, including the strategic layout of Rockwell, Siemens, Advantech, Huahan and TSMC.

In the long run, a single manufacturer may be able to establish virtual factories on the common industrial metaverse platform, connect various factories in series and cooperate with cross enterprises. In this regard, large industrial plants with high industrialization 4.0 and multiple lighthouses are expected to become market pioneers, such as Bosch, Schneider Electric, Haier and Foxconn.