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Potential business scenarios of the XGEN-DigiTwin technology

As a part of the X-GEN project (active 2022-2023), three potential business scenarios were preliminary identified and analyzed. These scenarios were identified for the later commercialization phase of the project. The scenarios were based on the early discussions with the involved companies, different mentors and the research team as well as a variety of recent research findings were utilized while defining the scenarios.

All scenarios have basis on the digitalization and scalable business model and thus respond to the exponential growth of the global digital twin market. Below in more detail about each potential business scenario of the XGEN-DigiTwin technology:

1. Simulation software-based business scenario

  • The simulation technology as a commercialized software product is probably the most well-known approach to provide simulation technology to the markets and customers. It is also easiest to discuss, present, and justify to the potential customers and partners.
  • From the customers’ side, the software-based business scenario is relatively easy to understand, and customers can utilize the software quite freely for their specific purposes, depending on the pricing model, active functions, and features of the customer.

2. Application and featured-based business scenario

  • Application and feature-based business scenario combines simulation software and service-based business scenarios. It will have the strengths of both: close contact to the customers and high scalability of the solution. In the application-based business scenario, there will be more focus on industrial applications with single features dedicated to solving certain needs in customer business.
  • From a customer’s side, applications are easier to buy and deploy because the required investment from a customer is smaller and the application is easier to use. Due to this the time needed for adaptation as well as the time-to-market and payback time for the application is shorter compared to software solution.

3. Service-based business scenario

  • Service-based business scenario requires the most profound understanding on both the XGEN-DigiTwin technology and its applicability on the customer use case and operation environment as well as on the customer´s business.
  • Service based business scenario is demanding and probably the most resource- and knowledge-intensive of the three business scenarios, yet simultaneously, it enables the best customer understanding for further development.

See the contact information and more from the project page: X-GEN

 

Text written by: Mari Piimäkorpi