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Electrical Digital Twin Market by Type, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030

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    Report

  • 277 Pages
  • February 2022
  • Region: Global
  • Allied Market Research
  • ID: 5578321
Description Jump to:
The global electrical digital twin market was valued at $149.10 million in 2020, and is projected to reach $556.4 million by 2030, registering a CAGR of 12.7% from 2021 to 2030.



Electrical digital twin enables utilities to simplify the data maintenance and data exchange process. A digital twin is a virtual representation of an object or system that spans its lifecycle, is updated from real-time data, and also uses simulation, machine learning and reasoning to help decision-making.

The scope of the report discusses potential opportunities for the market players to enter the global electrical digital twin market. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. The report features strategies adopted by key market players to maintain their foothold in the market.

The electrical digital twin market 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.

The key players profiled in the report include General Electric, ABB, Emerson, Siemens, AVEVA, Schneider, SAP, IBM, Oracle Corporation, and Microsoft. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.

These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration to enhance their market penetration.

KEY BENEFITS FOR STAKEHOLDERS

  • This study includes analytical depiction of the electrical digital twin market forecast along with current trends and future estimations to determine the imminent investment pockets
  • The report presents information regarding key drivers, restraints, and opportunities in the electrical digital twin market analysis
  • The electrical digital twin market trends are quantitatively analyzed from 2020 to 2028 to highlight the financial competency of the industry
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry

KEY MARKET SEGMENTS


By Type

  • Product Digital Twin
  • Process Digital Twin
  • System Digital Twin

By Application

  • Asset Performance Management
  • Business & Operations Optimization

By End User

  • Utilities
  • Grid Infrastructure Operators

By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

 

Please note:

  • Online Access price format is valid for 60 days access. Printing is not enabled.
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Table of Contents

Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.3. Porter’S Five Forces Analysis
3.4. Patent Analysis
3.4.1. By Region (2020–2030)
3.4.2. By Applicant
3.5. Market Dynamics
3.5.1. Drivers
3.5.1.1. Rising Demand in Healthcare Sector to Cover Real-Time Aspects.
3.5.1.2. Rising Use of Digital Twin for Predictive Maintenance to Avoid Unexpected Interruption.
3.5.2. Restraint
3.5.2.1. High System Complexities
3.5.3. Opportunity
3.5.3.1. The Growing Adoption of Advanced Technologies for Implementation of Digital Twin Applications
3.1. Covid Impact
3.1.1. Impact on Market Size
3.1.2. End-user Trends, Preferences, and Budget Impact
3.1.3. End-user Trends, Preferences, and Budget Impact
3.1.4. Parent Industry Impact
3.1.5. Key Player Strategies to Tackle Negative Impact
3.1.5.1. Limiting Cuts to R&D Expense:
3.1.5.2. Focusing on Next-Generation Products
3.1.5.3. Shifting Toward Agile Supply Chain Model
3.1.6. Opportunity Window
Chapter 4: Electric Digital Twin Market, by Type
4.1. Overview
4.2. Product Digital Twin
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis, by Country
4.3. Process Digital Twin
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
4.4. System Digital Twin
4.4.1. Key Market Trends, Growth Factors and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis, by Country
Chapter 5: Electric Digital Twin Market, by Applicaton
5.1. Overview
5.2. Asset Performance Management (Apm)
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Analysis, by Country
5.3. Business & Operations Optimization
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Analysis, by Country
Chapter 6: Electric Digital Twin Market, by End-user
6.1. Overview
6.2. Utilities
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Region
6.2.3. Market Analysis, by Country
6.3. Grid Infrastructure Operators
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Region
6.3.3. Market Analysis, by Country
Chapter 7: Electric Digital Twin Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast, by Type
7.2.3. Market Size and Forecast, by Application
7.2.4. Market Size and Forecast, by End-user
7.2.5. Market Analysis, by Country
7.2.5.1. U. S.
7.2.5.1.1. Market Size and Forecast, by Connectivity
7.2.5.1.2. Market Size and Forecast, by Application
7.2.5.1.3. Market Size and Forecast, by End-user
7.2.5.2. Canada
7.2.5.2.1. Market Size and Forecast, by Type
7.2.5.2.2. Market Size and Forecast, by Application
7.2.5.2.3. Market Size and Forecast, by End-user
7.2.5.3. Mexico
7.2.5.3.1. Market Size and Forecast, by Type
7.2.5.3.2. Market Size and Forecast, by Application
7.2.5.3.3. Market Size and Forecast, by End-user
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast, by Type
7.3.3. Market Size and Forecast, by Application
7.3.4. Market Size and Forecast, by End-User
7.3.5. Market Analysis, by Country
7.3.5.1. Uk
7.3.5.1.1. Market Size and Forecast, by Type
7.3.5.1.2. Market Size and Forecast, by Application
7.3.5.1.3. Market Size and Forecast, by End-user
7.3.5.2. Germany
7.3.5.2.1. Market Size and Forecast, by Type
7.3.5.2.2. Market Size and Forecast, by Application
7.3.5.2.3. Market Size and Forecast, by End-user
7.3.5.3. France
7.3.5.3.1. Market Size and Forecast, by Type
7.3.5.3.2. Market Size and Forecast, by Application
7.3.5.3.3. Market Size and Forecast, by End-user
7.3.5.4. Rest of Europe
7.3.5.4.1. Market Size and Forecast, by Type
7.3.5.4.2. Market Size and Forecast, by Application
7.3.5.4.3. Market Size and Forecast, by End-user
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast, by Type
7.4.3. Market Size and Forecast, by Application
7.4.4. Market Size and Forecast, by End-user
7.4.5. Market Analysis, by Country
7.4.5.1. China
7.4.5.1.1. Market Size and Forecast, by Type
7.4.5.1.2. Market Size and Forecast, by Application
7.4.5.1.3. Market Size and Forecast, by End-user
7.4.5.2. Japan
7.4.5.2.1. Market Size and Forecast, by Type
7.4.5.2.2. Market Size and Forecast, by Application
7.4.5.2.3. Market Size and Forecast, by End-user
7.4.5.3. India
7.4.5.3.1. Market Size and Forecast, by Type
7.4.5.3.2. Market Size and Forecast, by Application
7.4.5.3.3. Market Size and Forecast, by End-user
7.4.5.4. South Korea
7.4.5.4.1. Market Size and Forecast, by Type
7.4.5.4.2. Market Size and Forecast, by Application
7.4.5.4.3. Market Size and Forecast, by End-user
7.4.5.5. Rest of Asia-Pacific
7.4.5.5.1. Market Size and Forecast, by Type
7.4.5.5.2. Market Size and Forecast, by Application
7.4.5.5.3. Market Size and Forecast, by End-user
7.5. Lamea
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast, by Type
7.5.3. Market Size and Forecast, by Application
7.5.4. Market Size and Forecast, by End-user
7.5.5. Market Analysis, by Country
7.5.5.1. Latin America
7.5.5.1.1. Market Size and Forecast, by Type
7.5.5.1.2. Market Size and Forecast, by Application
7.5.5.1.3. Market Size and Forecast, by End-user
7.5.5.2. Middle East
7.5.5.2.1. Market Size and Forecast, by Type
7.5.5.2.2. Market Size and Forecast, by Application
7.5.5.2.3. Market Size and Forecast, by End-user
7.5.5.3. Africa
7.5.5.3.1. Market Size and Forecast, by Type
7.5.5.3.2. Market Size and Forecast, by Application
7.5.5.3.3. Market Size and Forecast, by End-user
Chapter 8: Competitive Landscape
8.1. Introduction
8.1.1. Market Player Positioning, 2019
8.1.2. Top Winning Strategies
8.2. Competitive Dashboard
8.3. Competitive Heatmap
Chapter 9: Company Profiles
9.1. Abb Group
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Operating Business Segments
9.1.5. Product Portfolio
9.1.6. R&D Expenditure
9.1.7. Business Performance
9.1.8. Key Strategic Moves and Developments
9.2. Aveva
9.2.1. Company Overview
9.2.2. Key Executives
9.2.3. Company Snapshot
9.2.4. Product Portfolio
9.2.5. Business Performance
9.2.6. Key Strategic Moves and Developments
9.3. Emerson
9.3.1. Company Overview
9.3.2. Key Executives
9.3.3. Company Snapshot
9.3.4. Operating Business Segments
9.3.5. Product Portfolio
9.3.6. R&D Expenditure
9.3.7. Business Performance
9.3.8. Key Strategic Moves and Developments
9.4. General Electric
9.4.1. Company Overview
9.4.2. Key Executives
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.4.6. R&D Expenditure
9.4.7. Business Performance
9.4.8. Key Strategic Moves and Developments
9.5. Ibm Corporation
9.5.1. Company Overview
9.5.2. Key Executives
9.5.3. Company Snapshot
9.5.4. Operating Business Segments
9.5.5. Product Portfolio
9.5.6. Business Performance
9.5.7. Key Strategic Moves and Developments
9.6. Microsoft Corporation
9.6.1. Company Overview
9.6.2. Key Executives
9.6.3. Company Snapshot
9.6.4. Operating Business Segments
9.6.5. Product Portfolio
9.6.6. R&D Expenditure
9.6.7. Business Performance
9.7. Oracle Corporation
9.7.1. Company Overview
9.7.2. Key Executive
9.7.3. Company Snapshot
9.7.4. Operating Business Segments
9.7.5. Product Portfolio
9.7.6. R&D Expenditure
9.7.7. Business Performance
9.7.8. Key Strategic Moves and Developments
9.8. Sap
9.8.1. Company Overview
9.8.2. Key Executives
9.8.3. Company Snapshot
9.8.4. Product Portfolio
9.8.5. R&D Expenditure
9.8.6. Business Performance
9.9. Schneider Electric
9.9.1. Company Overview
9.9.2. Key Executives
9.9.3. Company Snapshot
9.9.4. Operating Business Segments
9.9.5. Product Portfolio
9.9.6. R&D Expenditure
9.9.7. Business Performance
9.9.8. Key Strategic Moves and Developments
9.10. Siemens AG
9.10.1. Company Overview
9.10.2. Key Executives
9.10.3. Company Snapshot
9.10.4. Operating Business Segments
9.10.5. Product Portfolio
9.10.6. R&D Expenditure
9.10.7. Business Performance
9.10.8. Key Strategic Moves and Developments
List of Tables
Table 01. Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 02. Electric Digital Twin Market Revenue for Product Digital Twin, by Region 2020–2030 ($Million)
Table 03. Electric Digital Twin Market Revenue for Process Digital Twin, by Region 2020–2030 ($Million)
Table 04. Electric Digital Twin Market Revenue for System Digital Twin, by Region 2020–2030 ($Million)
Table 05. Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 06. Electric Digital Twin Market Revenue for Asset Performance Management, by Region 2020–2030 ($Million)
Table 07. Electric Digital Twin Market Revenue for Business & Operations Optimization, by Region 2020–2030 ($Million)
Table 08. Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 09. Electric Digital Twin Market Revenue for Utilities, by Region 2020–2030 ($Million)
Table 10. Electric Digital Twin Market Revenue for Grid Infrastructure Operators, by Region 2020–2030 ($Million)
Table 11. Electric Digital Twin Market Revenue, by Region 2020–2030 ($Million)
Table 12. North American Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 13. North American Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 14. North American Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 15. U.S Electric Digital Twin Market, by Type, 2017–2025 ($Million)
Table 16. U.S Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 17. U.S Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 18. Canada Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 19. Canada Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 20. Canada Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 21. Mexico Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 22. Mexico Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 23. Mexico Electric Digital Twin Market, by End-user, 2017–2025 ($Million)
Table 24. Europe Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 25. Europe Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 26. Europe Electric Digital Twin Market, by End-User, 2020–2030 ($Million)
Table 27. Uk Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 28. Uk Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 29. Uk Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 30. Germany Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 31. Germany Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 32. Germany Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 33. France Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 34. France Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 35. France Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 36. Rest of Europe Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 37. Rest of Europe Electric Digital Twin Market, by Application, 2017–2025 ($Million)
Table 38. Rest of Europe Electric Digital Twin Market, by End-user, 2017–2025 ($Million)
Table 39. Asia-Pacific Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 40. Asia-Pacific Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 41. Asia-Pacific Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 42. China Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 43. China Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 44. China Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 45. Japan Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 46. Japan Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 47. Japan Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 48. India Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 49. India Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 50. India Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 51. South Korea Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 52. South Korea Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 53. South Korea Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 54. Rest of Asia-Pacific Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 55. Rest of Asia-Pacific Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 56. Rest of Asia-Pacific Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 57. Lamea Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 58. Lamea Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 59. Lamea Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 60. Latin America Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 61. Latin America Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 62. Latin America Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 63. Middle East Electric Digital Twin Market, by Type, 2020–2030 ($Million)
Table 64. Middle East Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 65. Middle East Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 66. Africa Electric Digital Twin Market, by Connectivity, 2020–2030 ($Million)
Table 67. Africa Electric Digital Twin Market, by Application, 2020–2030 ($Million)
Table 68. Africa Electric Digital Twin Market, by End-user, 2020–2030 ($Million)
Table 69. Abb Group: Key Executives
Table 70. Abb Group: Company Snapshot
Table 71. Abb Group: Operating Segments
Table 72. Abb Group: Product Portfolio
Table 73. Aveva: Key Executives
Table 74. Aveva: Company Snapshot
Table 75. Fitbit Product Portfolio
Table 76. Aveva. : Key Strategic Moves and Developments
Table 77. Emerson Electric Co. :Key Executives
Table 78. Emerson Electric Co. : Company Snapshot
Table 79. Emersonelectric Co. : Operating Segments
Table 80. Emersonelectric Co. : Product Portfolio
Table 81. Emersonelectric Co. : Key Strategic Moves and Developments
Table 82. General Electric: Key Executives
Table 83. General Electric. : Company Snapshot
Table 84. General Electric Operating Segments
Table 85. General Electric Product Portfolio
Table 86. Ibm Corporation: Key Executives
Table 87. Ibm Corporation: Company Snapshot
Table 88. International Business Machines Corporation: Operating Segments
Table 89. International Business Machines Corporation: Product Portfolio
Table 90. Microsoft Corporation: Key Executives
Table 91. Microsoft Corporation: Company Snapshot
Table 92. Microsoft Corporation: Operating Segments
Table 93. Microsoft Corporation: Product Portfolio
Table 94. Oracle Corporation: Key Executive
Table 95. Oracle Corporation: Company Snapshot
Table 96. Oracle Corporation: Operating Segments
Table 97. Oracle Corporation: Product Portfolio
Table 98. Sap Se: Key Executives
Table 99. Sap Se: Company Snapshot
Table 100. Sap Se: Product Portfolio
Table 101. Schneider Electric: Key Executives
Table 102. Schneider Electric: Company Snapshot
Table 103. Schneider Electric: Operating Segments
Table 104. Schneider Electric: Product Portfolio
Table 105. Siemens Ag: Key Executives
Table 106. Siemens Ag: Company Snapshot
Table 107. Siemens Ag: Operating Segments
Table 108. Siemens Ag: Product Portfolio
List of Figures
Figure 01. Key Market Segments
Figure 02. Executive Summary
Figure 03. Executive Summary
Figure 04. Top Impacting Factors
Figure 05. Top Investment Pockets
Figure 06. High Bargaining Power of Suppliers
Figure 07. High Threat of New Entrants
Figure 08. High Threat of Substitutes
Figure 09. Moderate Intensity of Rivalry
Figure 10. Moderate Bargaining Power of Buyers
Figure 11. Patent Analysis, by Country
Figure 12. Patent Analysis, by Applicant
Figure 13. Electric Digital Twin Market Share, by Type, 2020–2030 (%)
Figure 14. Comparative Share Analysis of Electric Digital Twin Market for Product Digital Twin, by Country, 2020–2030(%)
Figure 15. Comparative Share Analysis of Electric Digital Twin Market for Process Digital Twin, by Country, 2020 & 2030 (%)
Figure 16. Comparative Share Analysis of Electric Digital Twin Market for System Digital Twin, by Country, 2020 & 2030 (%)
Figure 17. Electric Digital Twin Market Share, by Application, 2020–2030 (%)
Figure 18. Comparative Share Analysis of Electric Digital Twin Market for Asset Performance Management, by Country, 2020–2030(%)
Figure 19. Comparative Share Analysis of Electric Digital Twin Market for Business & Operations Optimization, by Country, 2020 & 2030 (%)
Figure 20. Electric Digital Twin Market Share, by End-user, 2020–2030 (%)
Figure 21. Comparative Share Analysis of Electric Digital Twin Market for Utilities, by Country, 2020 & 2030 (%)
Figure 22. Comparative Share Analysis of Electric Digital Twin Market for Grid Infrastructure Operators, by Country, 2020 & 2030 (%)
Figure 23. Electric Digital Twin Market, by Region, 20120-2030 (%)
Figure 24. Comparative Share Analysis of Electric Digital Twin Market, by Country, 2020–2030 (%)
Figure 25. U. S. Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 26. Canada Electric Digital Twin Market, 2020–2025 ($ Million)
Figure 27. Mexico Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 28. Comparative Share Analysis of Electric Digital Twin Market, by Country, 2020–2030 (%)
Figure 29. Uk Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 30. Germany Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 31. France Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 32. Rest of Europe Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 33. Comparative Share Analysis of Electric Digital Twin Market, by Country, 2020–2030(%)
Figure 34. China Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 35. Japan Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 36. India Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 37. South Korea Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 38. Rest of Asia-Pacific Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 39. Comparative Share Analysis of Electric Digital Twin Market, by Country, 2020–2030(%)
Figure 40. Latin America Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 41. Middle East Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 42. Africa Electric Digital Twin Market, 2020–2030 ($ Million)
Figure 43. Market Player Positioning, 2019
Figure 44. Top Winning Strategies, by Year, 2018–2021
Figure 45. Top Winning Strategies, by Year, 2018–2021
Figure 46. Top Winning Strategies, by Company, 2018–2021
Figure 47. Competitive Dashboard
Figure 48. Competitive Heatmap of Key Players
Figure 49. Abb Group, 2018–2020 ($ Million)
Figure 50. Abb Group: Revenue, 2018–2020 ($ Million)
Figure 51. Abb Group: Revenue Share by Segment, 2020 (%)
Figure 52. Abb Group: Revenue Share by Region, 2020 (%)
Figure 53. Aveva: Revenue, 2019–2021 ($ Million)
Figure 54. Aveva: Revenue Share, by Region, 2021 (%)
Figure 55. Emersonelectric Co: R&D Expenditure, 2018–2020 ($ Million)
Figure 56. Emersonelectric Co: Revenue, 2018–2020 ($ Million)
Figure 57. Emersonelectric Co: Revenue Share, by Segment, 2020 (%)
Figure 58. Emersonelectric Co: Revenue Share, by Region, 2020 (%)
Figure 59. General Electric: R&D Expenditure, 2018–2020 ($ Million)
Figure 01. General Electric: Revenue Share, by Segment, 2020 (%)
Figure 02. General Electric: Revenue Share, by Region, 2020 (%)
Figure 60. Ibm Corporation: Revenue, 2018–2020 ($ Million)
Figure 61. Ibm Corporation: Revenue Share by Segment, 2020 (%)
Figure 62. Ibm Corporation: Revenue Share by Region, 2020 (%)
Figure 63. Microsoft Corporation: R&D Expenditure, 2018–2020 ($ Million)
Figure 64. Microsoft Corporation: Revenue, 2018–2020 ($ Million)
Figure 65. Microsoft Corporation: Revenue Share, by Segment, 2020 (%)
Figure 66. Microsoft Corporation: Revenue Share, by Region, 2020 (%)
Figure 67. R&D Expenditure, 2018–2020 ($ Million)
Figure 68. Oracle Corporation: Revenue, 2018–2020 ($ Million)
Figure 69. Figure 05. Oracle Corporation: Revenue Share by Segment, 2020 (%)
Figure 70. Oracle Corporation: Revenue Share by Region, 2020 (%)
Figure 71. R&D Expenditure, 2018–2020 ($ Million)
Figure 72. Sap Se: Revenue, 2018–2020 ($ Million)
Figure 73. Sap Se: Revenue Share by Region, 2020 (%)
Figure 74. Schneider Electric, 2018–2020 ($ Million)
Figure 75. Schneider Electric: Revenue, 2018–2020 ($ Million)
Figure 76. Schneider Electric: Revenue Share by Segment, 2020 (%)
Figure 77. Schneider Electric: Revenue Share by Region, 2020 (%)
Figure 78. Siemens Ag: R&D Expenditure, 2018–2020 ($ Million)
Figure 79. Siemens Ag: Revenue, 2018–2020 ($ Million)
Figure 80. Siemens Ag: Revenue Share, by Segment, 2020 (%)
Figure 81. Siemens Ag: Revenue Share, by Region, 2020 (%)

Executive Summary

According to a recent report titled, “Electrical Digital Twin Market by Type, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global electrical digital twin market 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.

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 drive the growth of the market in the future. However, higher system complexities hinder the market growth. The growing adoption of advanced technologies for implementation of digital twin applications is expected to be opportunistic for the electrical digital twin market growth.

By type, it is fragmented into product digital twin, process digital twin, and system digital twin. The system digital twin segment was the highest revenue contributor accounting for $514 million in 2020, and is expected to witness the fastest growth at a CAGR of 11.0% during the forecast period.

By application, the market is divided into asset performance management, and business and operations optimization. The asset performance management segment was the highest revenue contributor accounting for $775.4 million in 2020 and is expected to witness the fastest growth at a CAGR of 11.3% during the forecast period.

By end user, the market is divided into utilities, and grid infrastructure operators. The grid infrastructure operators segment is expected to be the fastest growing segment registering a CAGR of 13.8% during the forecast period. However, the utilities segment is the highest revenue contributor that accounted for $710.6 million in 2020.

By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor that was valued at $436.7 million in 2020. This region is further expected to attain a market value of $ 1211.5 million by 2030 to grow at a CAGR of 10.8%.

COVID-19 Impact:

COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.

Demand from the IT & telecommunication segment is expected to increase, owing to factors such as rise in broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing for future optimization.

Some of the electrical digital twin manufacturers have witnessed temporary delays in production, increased costs, and revenue losses due to the pandemic.

The manufacturing sector witnessed severe loss, and thus, no new orders have been placed during the pandemic. In addition, this impact is estimated to continue till 2021. Moreover, international consumer electronics and electrical digital twin markets are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the electrical digital twin market is facing major obstacles from the emergence of COVID-19 pandemic.

The pandemic is impacting production process of several industries, including semiconductor and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced total lockdown and temporary shutdown of industries.

Key Findings Of The Study


  • By type, the system digital twin segment is expected to generate the highest revenue during the forecast period
  • By application, the asset performance management segment is expected to register the highest revenue during the forecast period
  • By end user, the grid infrastructure operators segment is expected to register the highest revenue during the forecast period
  • By region, North America is expected to register the highest revenue during the forecast period
  • The key players profiled in the report include General Electric, ABB, Emerson, Siemens, AVEVA, Schneider, SAP, IBM, Oracle Corporation, and Microsoft These key players have adopted several strategies, such as new product launch & development, acquisition, partnership & collaboration, and business expansion, to increase their footprint in the electrical digital twin industry during the forecast period

Companies Mentioned

  • ABB GROUP
  • AVEVA
  • EMERSON
  • GENERAL ELECTRIC
  • IBM CORPORATION
  • MICROSOFT CORPORATION
  • ORACLE CORPORATION
  • SAP
  • SCHNEIDER ELECTRIC
  • SIEMENS AG

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages277
PublishedFebruary 2022
Forecast Period2020 - 2030
Estimated Market Value ( USD ) in 2020 $ 168.32 million
Forecasted Market Value ( USD ) by 2030 $ 556.4 million
Regions CoveredGlobal
No. of Companies Mentioned10

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