A New World is Emerging
Today, the world is being transformed by a convergence of physical and digital products, services, and environments. Existing businesses are being disrupted and new markets are being created by this convergence. Some proof? The world’s largest digital technology companies like Apple and Google are developing autonomous cars and thermostats, while the world’s largest industrial manufacturing companies like GE and Bosch are reinventing themselves as digital industrial companies.
Definition of Physical and Digital Convergence
What is Physical?
The physical world has existed forever, it is the world around us. It consists of the physical products, components, parts, equipment, and assets that companies create; the cities, worksites, and factories where these things exist; and the sensors and infrastructure that surround these physical things.
What is Digital?
The digital world emerged in the 1950's with the advent of the computer, creating the first wave of IT driven competition. Today the digital world includes CAD models, PLM, CRM, ERP and other enterprise data, consumer data like social media, and the increasing volume of IoT data generated by all the things around us.
What is Physical and Digital Convergence?
Convergence happens when these two worlds come together harmoniously to enhance each other; physical things are enhanced by digital insights, digital graphics are augmented on the physical world, etc. Today, examples of this convergence are everywhere, 3D printing, the Internet of Things (IoT), Smart Factories/Industry 4.0, and the emerging trend of Augmented Reality (AR), and PTC can help you unlock the value created by the physical and digital convergence.