Siemens has embarked on a significant journey towards realizing the potential of the industrial metaverse, starting with a firm commitment to its announced €2 billion investment strategy. As part of this venture, the company is directing around €1 billion towards enhancing Germany’s innovation prowess, significantly boosting the country’s technological advancement of an industrial metaverse.
The industrial metaverse, a virtual realm that mirrors real-world industry operations, is making solid waves in the modern tech landscape. It provides a photorealistic, physics-based, real-time representation of real-world manufacturing processes, creating a digital twin of factories and equipment. The industrial metaverse enables more sustainable, adaptable, and advanced manufacturing capabilities using AI and integrating real-time physical data.
Global R&D Hub for the Industrial Metaverse
In the presence of German Chancellor Olaf Scholz, commitment to this emerging field was demonstrated recently when the company declared its plans to set up a new Technology Campus in Erlangen, Germany.
With a planned investment of around €500 million, Siemens is expanding its development and manufacturing capabilities at this site. The aim is to transform Erlangen into a global research and development hub, serving as the epicentre of global technology activities for the industrial metaverse. This strategic initiative will catalyze Siemens’ growth, propel innovation, and bolster its resilience.
Investing in the Future of Advanced Manufacturing
The investment Siemens announced forms part of a broader global investment strategy unveiled last month, which mainly focuses on expanding manufacturing capacities, establishing innovation labs, creating education centres, and further fortifying Siemens’ locations worldwide. This strategy highlights Siemens’ allegiance to the Nuremberg metropolitan region.
Currently, the Erlangen location employs approximately 3,500 individuals. It is home to a world-class factory producing critical industrial automation and digitalization products. The manufacturing processes in Erlangen are already highly automated, with human and robotic forces working collaboratively. Through this recent investment, Siemens aims to create a blueprint for the industrial metaverse, laying a foundation for the future of high-tech manufacturing that is sustainable and flexible in responding to market changes.
A Digital Leap Towards Sustainable Manufacturing
In the words of German Chancellor Olaf Scholz, “This investment is a strong signal for Germany as a location for innovation and production. The leading-edge manufacturing facility built in Erlangen is a good example of how our economy is moving toward a climate-neutral future – a strong industrial country with good sustainable jobs.”
Roland Busch, President and Chief Executive Officer of Siemens AG, reaffirmed the company’s commitment by saying, “Siemens is banking on innovation in Germany and launching the next stage of digitalization: we’re laying the foundation for the industrial metaverse in the Nuremberg metropolitan region. Here, on the new campus, we’re combining the real and the digital worlds.”
With the upcoming Technology Campus, constructed in the west of Erlangen, Siemens continues to stride confidently into the future of the industrial metaverse, shaping the next phase of high-tech manufacturing and setting new standards in sustainable industry practices.