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2022
Electrical Digital Twin Market

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

A15736
Pages: 277
Feb 2022 | 481 Views
   
Author(s) : Aishwarya Rajvaidya and Asavari Patil
Tables: 108
Charts: 81
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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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.

Electrical digital twin enables utilities to simplify the data maintenance and data exchange process. A digital twin is basically 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 in decision-making.    

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.

In the coming years, the electrical digital twin industry is expected to generate cash output with the investments in development, research, and tests. However, the electrical digital twin market is nearing the maturing stage, and is expected to generate modest revenue for key players in the coming years.

Factors such as 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 act as major barriers and hamper the market growth. Furthermore, the growing adoption of advanced technologies for implementation of digital twin applications are expected to offer lucrative opportunities for the electrical digital twin market players.

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.

COVID-19 Impact Analysis

The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.

Electrical Digital Twin Market
By Type

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System Digital Twin segment generated the highest revenue in 2020.

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The COVID-19 pandemic has impacted the society and overall economy across the globe. The impact of this outbreak increased day-by-day that affected the supply chain. This has created uncertainty in the stock market; decreased business confidence, slowed supply chain, and increased panic among customers. European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19, which led to decrease in growth of the electrical digital twin market in 2020.

According to the electrical digital twin market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.

Electrical Digital Twin Market
By Application

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Asset Performance Management segment generated the highest revenue in 2020.

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Emergence of COVID-19 declined the growth of the electrical digital twin market revenue in 2020, and is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdown across various countries globally is the prime reason for decline in growth rate of the market. As industries were temporarily shut, it reduced the need for maintenance from various industries.

Top Impacting Factors

The significant factors that impact the global electrical digital twin market include rising demand in healthcare sector to cover real time aspects, and rising use of digital twin for predictive maintenance to avoid unexpected interruption. In addition, higher system complexities is the key hurdle for the market growth. Moreover, the growing adoption of advanced technologies for implementation of digital twin applications has affected the market growth to a certain extent. Each of these factors is anticipated to have a definite impact on the global electrical digital twin market during the forecast period. These factors are expected to offer lucrative opportunities for the market growth in the coming years.

Electrical Digital Twin Market
By End User

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Utilities segment generated the highest revenue in 2020.

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Rising demand in healthcare sector to cover real-time aspects

Many industry verticals including healthcare sector, are implementing digital twin to improve and optimize their operations. Digital Twin embraces four technologies such as IoT, Extended Reality (XR), Cloud, and Artificial Intelligence (AI) to create visual representation, capture, store, analyze data and provide valuable insights. Moreover, it is widely adopted in healthcare sector as it is dynamic and get real-time updates from physical asset, system, or process. Digital twin helps to capture continuous data from the individual about various vitals, medical condition, and response to the drug, therapy, and surrounding. Also, it models many dimensions of hospital facility including the movement of doctors, patients and more with real-time location tracking of systems, assets, and people. These factors are driving the growth of the market.

Higher System complexities

The development of an electrical digital twin requires multiple inputs from operators such as facility managers, design engineers, electrical engineers, and other parties, it adds complexity to the deployment. Also, obtaining the asset data pose a challenge. Another challenge is the complexity of the physical item that is to be replicated for instance, processes such as customer relationship management, service delivery funnels, and more. In addition, any modification made to the physical system requires similar changes to its digital model and algorithms and the risk of errors may escalate with the increasing levels of complexity. Moreover, it includes software, hardware and process, which increases system complexity. These factors are the key hurdle for the market growth.

Electrical Digital Twin Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 15.4% during 2020-2030

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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.

Key Market Segments

  • BY TYPE
    • PRODUCT DIGITAL TWIN
    • PROCESS DIGITAL TWIN
    • SYSTEM DIGITAL TWIN
  • BY APPLICATON
    • ASSET PERFORMANCE MANAGEMENT
    • BUSINESS & OPERATIONS OPTIMIZATION
  • BY END USER
    • UTILITIES
    • GRID 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
 

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 (%)


 
 

The electrical digital twin market is highly competitive, owing to strong presence of existing vendors. Electrical digital twin technology vendors who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the global market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.

The electrical digital twin market exhibits high growth potential in automobile, healthcare, utility, commercial and industrial sectors. The current business scenario is witnessing an increase in demand for energy, particularly in developing regions such as China and India, owing to surge in population and rise in demand for energy. Companies in this industry are adopting various innovative techniques, such as mergers and acquisitions to strengthen their business position in the competitive matrix.

The market growth is supplemented by proactive industrialization efforts and surge in manufacturing output, owing to technological advancements. These factors have allowed emerging markets to evolve as largest markets during the forecast period both from the demand as well as the supply side. Public & private organizations have substantially invested in R&D activities and fabrication techniques to develop cost-effective electrical digital twins. North America is the major revenue contributor to the global market, followed by Europe. The market growth in Asia-Pacific and Europe is expected to significantly increase during the forecast period. The electrical digital twin market provides numerous growth opportunities to the market players such as General Electric, ABB, Emerson, Siemens, AVEVA, Schneider, and others. These companies are engaged in the process of product innovation, collaboration, and acquisition to expand their services across various regions.

 

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