Dassault Systèmes, the technology arm of Paris-based Dassault Group, on Monday that it was expecting a revenue of $1 billion from India by 2027.
Responding to a query on the company’s business focus on India, Dassault Systemes CEO Pascal Daloz said, ‘‘India is a fast-growing market for virtual twins and in the virtual world, we can simulate and evaluate the impact of our actions before making them real.’‘
He also said the company has a revenue target of $1 billion from the Indian market by 2027. Dassault Systemes globally posted a revenue of close to 7 billion euros in 2023.
Dassault Systemes offers virtual twin technology for a wide range of industries including airplane manufacturing, drug, clinical trial, and medical devices and healthcare, automotive/EV manufacturing, education and consumer goods. Virtual twin enables multiple iterations of a product, solution or platform to perfect it without requiring to spend much money,human labour and time.
A twofold increase in virtual twin implementations post-pandemic: study
A study jointly released by Dassault Systemes and Nasscom among 130 mid-sized (with annual recurring revenue (ARR) of $500 million and above) enterprises across India as well as across Europe and APAC found that there was a twofold increase in virtual twin implementations post-pandemic.
Presenting the highlights of the report, Sangeeta Gupta, Senior Vice President and Chief Strategy Officer, Nasscom said virtual twin adoption in India could be crucial in accelerating the design-to-realisation process, helping organisations achieve their sustainability and circularity goals across the value chain.
Some 57% of enterprises in the country allocate less than 30% of technology spending to digital spend; over 50% of the enterprises also indicate patchy digitalisation, with only the key functions digitalised, but in silos, thereby limiting effective ROI realisation, it found.
Interestingly, some 63% of Indian companies deploy virtual twins at the product or process level and 40% of those companies are at the product level in using virtual twins, 23% at the process level. Precision in product-market fit came as one of the top three objectives for implementing virtual twins. As per the report, 75% of virtual twin implementations in India take between 12-24 months of deployment time at each level of product, process, or system virtual twin, according to the report.
This report is based on a The survey that spans four major industry segments: continuous manufacturing, discrete manufacturing, public infrastructure and smart cities, and life sciences and healthcare. Some 33% of the virtual twin initiatives in life sciences are driven by top leadership (CXOs), compared to just 22% on average.
