Siemens Increases Investment in Industrial Metaverse by Double

Implementing these systems can lead to cost reduction by identifying inefficiencies in production lines, preventing equipment failures, and minimizing waste in product development cycles. For instance, manufacturers can virtually test different factory floor layouts before making physical changes, or simulate the performance of a new product under different conditions without the need for physical prototypes.

A recent study of 907 businesses in seven countries has shown a significant increase in investment in industrial virtual worlds in 2024, with 62% of global firms boosting their spending on this technology.

The study, conducted by S&P Global Market Intelligence 451 Research and Siemens, a German industrial automation and software company, indicates that 81% of firms are currently implementing, testing, or planning to deploy industrial metaverse technologies.

Manufacturing sector at the forefront of industrial metaverse adoption

Within the manufacturing sector, 38% of industrial products companies are already utilizing this technology, which integrates digital twins, AI, and IoT sensors to simulate and optimize production processes.

The adoption rates in the food and beverage sector and the electronics industry are at 26%, based on the study that surveyed companies in Australia, Canada, China, Germany, India, the UK, and the US.