Amazon Web Services (AWS), an Amazon.com, Inc. (AMZN) company revealed the launch of a new service: AWS IoT TwinMaker.
The newly launched service will include the built-in capabilities for creating digital twins, such as connecting to data across disparate sources, modeling physical environments, and visualization of data.
Digital twins mimic the structure, state, and behavior of the objects they represent. They are virtual representations of physical systems that are regularly updated with real-world data.
It will enable faster and easier creation of digital twins of real-world systems like buildings, factories, industrial equipment, and production lines.
This, in turn, will help clients build applications that mirror real-world systems, thereby enhancing operational efficiency and reducing downtime.
Notably, the new service does not have up-front commitments or fees to use the AWS IoT TwinMaker. Customers using AWS IoT TwinMaker include Carrier, Siemens, and Accenture, to name a few.
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Management Weighs In
Michael MacKenzie, GM at AWS IoT, commented, “Customers are excited about the opportunity to use digital twins to improve their operations and processes, but the work involved in creating a digital twin and custom applications for different use cases is complicated, expensive, and prohibitive for most.”
He added, “With today’s launch of AWS IoT TwinMaker, more customers can now have a holistic view of their industrial equipment, facilities, and processes to monitor and optimize all of their operations in real time.”
Analysts Recommendation
Morgan Stanley analyst Brian Nowak reiterated a Buy rating on Amazon with a price target of $4,000 (14.1% upside potential) on the stock.
Consensus among analysts is a Strong Buy based on 31 unanimous Buys. The average Amazon.com price target of $4,095 implies 16.76% upside potential to current levels.
Amazon scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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