Electrical Digital Twin Market by Type (Product Digital Twin, Process Digital Twin, and System Digital Twin), Application (Asset Performance Management, and Business & Operations Optimization) and End User (Utilities, and Grid Infrastructure Operators): Global Opportunity Analysis and Industry Forecast, 2021-2030
The global electrical digital twin market size was valued at $149.10 million in 2020, and is projected to reach $556.4 million by 2030, registering a CAGR of 14.2% from 2021 to 2030.
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The rising demand in healthcare sector to cover real time aspects, and rising use of digital twin for predictive maintenance to avoid unexpected interruption are expected to fuel the electrical digital twin market growth. Moreover, the growing adoption of advanced technologies for implementation of digital twin applications is also expected to boost the market during the forecast period.
Segmentation
The electrical digital twin market share is analyzed on the basis of type, application, end user and region. By type, the market is divided into product digital twin, process digital twin, and system digital twin. By application, it is classified into asset performance management, and business & operations optimization. By end user, it is categorized into utilities, and grid infrastructure operators. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
Top Impacting Factors
Rising demand in healthcare sector to cover real-time aspects
Higher System complexities
Key Benefits for Stakeholders
- This study comprises analytical depiction of the electrical digital twin market size, opportunity along with current trends and future estimations to depict imminent investment pockets.
- The overall electrical digital twin market analysis is determined to understand profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The electrical digital twin market outlook forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates potency of buyers and the market share of key vendors.
- The report includes the trends and the electrical digital twin market share of key vendors.
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Electrical Digital Twin Market Report Highlights
Aspects | Details |
---|---|
BY TYPE | PRODUCT DIGITAL TWINPROCESS DIGITAL TWINSYSTEM DIGITAL TWIN |
BY APPLICATON | ASSET PERFORMANCE MANAGEMENTBUSINESS & OPERATIONS OPTIMIZATION |
BY END USER | UTILITIESGRID INFRASTRUCTURE OPERATORS |
BY REGION | NORTH AMERICA (U.S, Canada, Mexico)EUROPE (UK, Germany, France, Rest of Europe)ASIA-PACIFIC (China, Japan, India, South Korea, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa) |
Key Market Players | ABB GROUP, AVEVA, EMERSON, GENERAL ELECTRIC, IBM CORPORATION, MICROSOFT CORPORATION, ORACLE CORPORATION, SAP, SCHNEIDER ELECTRIC, SIEMENS AG |
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