Siemens AG and MIT Technology Review release research report on emergent Industrial Metaverse

• Research report explores how the Industrial Metaverse will help businesses and economies become more efficient, resilient, and sustainable.
• Report points out how decision-makers can enable the Industrial Metaverse and harness its potential.
• Industrial Metaverse market is estimated to increase nearly 10 times by 2030, according to ABI Research.
• Siemens Xcelerator digital business platform will play a crucial role in leveraging the potential of the Industrial Metaverse.

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The Industrial Metaverse will be a digital world that mirrors and simulates real machines, factories, buildings, and entire cities and transportation systems. The seamless integration of the real and digital worlds will empower people and companies to solve real-world problems. 
The report explores the building blocks of the Industrial Metaverse, its use cases, and the effects it will have on businesses, economies, and everyday life. Moreover, it points out the challenges that decision-makers in businesses and society face to enable this digital world – and how they can harness its tremendous potential.
“Through the Industrial Metaverse, businesses can develop sustainable products faster, easier, and cheaper. They can use it to make machines, factories, buildings, and entire cities and traffic systems more efficient, resilient, and sustainable,” said Peter Körte, Chief Technology Officer and Chief Strategy Officer of Siemens AG. “This research shows that building this digital world is about leveraging and integrating powerful technologies. However, it requires, at least as importantly, openness, collaboration, and strong ecosystems.”
The Industrial Metaverse will result from the evolution and convergence of technologies such as artificial intelligence, blockchain, and cloud and edge computing. A key building block of the Industrial Metaverse will be the digital twin, which simulates the behavior of its real-world counterparts and is already revolutionizing product development, infrastructure management, manufacturing, and training measures. Future digital twins will provide photorealistic simulations of the real world and enable real-time interaction between people and machines.

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