The article presents the analysis findings of the conceptual approaches by various scientists as per the digital platforms development in industry. Such platforms and technologies make a specific cluster of digital economy responsible for generating competencies that contribute to the development of markets and different economic sectors. The authors single out and make a case for three key approaches to the understanding of the idea behind the digital platforms, i.e. a digital platform as a complex of technologies, a digital platform as a business model and a digital platform as an enterprise providing for the mutually beneficial cooperation between the venders, producers and customers. The study has shown that while researching the conceptual basis of digital platforms development in industry a major role is played by digital twins. The analysis of Gartner Hype Cycle has proven the role of digital twins in the industrial IoT development. At the same time, the authors define the barriers in the industrial IoT development common for the industrial facilities in Russia. Additionally, it has been concluded that it is necessary to develop a single integrated digital platform for the needs of industry taking into account sector-specific issues. Networking is considered to be an effective strategy for the industry development. The implementation of digital design and modeling of smart digital twin is aimed at the transition of the industrial sector to technological paradigms V and VI.