The Digital Twin concept is on the Gartner Top 10 Strategic Technology Trends for 2018. From this report:
In the context of IoT, digital twins are linked to real-world objects and offer information on the state of the counterparts, respond to changes, improve operations and add value. With an estimated 21 billion connected sensors and endpoints by 2020, digital twins will exist for billions of things in the near future. Potentially billions of dollars of savings in maintenance repair and operation (MRO) and optimized IoT asset performance are on the table.
In the short term, digital twins offer help with asset management, but will eventually offer value in operational efficiency and insights into how products are used and how they can be improved. Over time, digital representations of virtually every aspect of our world will be connected dynamically with their real-world counterparts and with one another and infused with AI-based capabilities to enable advanced simulation, operation and analysis.
Gartner recommendations: How to Use Digital Twins in Your IoT Strategy