< Key Hightlight >

The Global Electrical Digital Twin Market size was estimated at USD 789.98 million in 2020 and expected to reach USD 917.72 million in 2021, at a CAGR 16.60% to reach USD 2,315.14 million by 2027.

Market Statistics:

The report provides market sizing and forecast across five major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2018 and 2019 are considered historical years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2027 are considered the forecast period.

Market Segmentation & Coverage:

This research report categorizes the Electrical Digital Twin to forecast the revenues and analyze the trends in each of the following sub-markets:

Based on Twin Type, the market was studied across Digital Gas & Steam Power Plant, Digital Grid, Digital Hydropower Plant, Digital Wind Farm, and Distributed Energy Resources. 

Based on  Usage Type, the market was studied across Process Digital Twin, Product Digital Twin, and System Digital Twin. 

Based on  Deployment Type, the market was studied across Cloud and On-premises. 

Based on End User, the market was studied across Grid Infrastructure Operators and Utilities. 

Based on Application, the market was studied across Asset Performance Management and Business & Operations Optimization. 

Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. The Europe, Middle East & Africa is further studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom. 

Cumulative Impact of COVID-19:

COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward. The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Electrical Digital Twin Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

Competitive Scenario:

The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The competitive scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected help vendor to understand the gaps in the marketplace and competitor’s strength and weakness thereby, providing insights to enhance product and service.

Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Electrical Digital Twin Market, including ABB Ltd., ACPD Services Ltd, Altair Engineering Inc, Ansys, Inc., AVEVA GROUP, Bentley Systems, Inc., DNV GL, Emerson Electric Co., Etteplan Sweden AB., Fujitsu Limited, General Electric Company, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, PhDsoft Tecnologia Limitada, SAP SE, SAS INSTITUTE, Schneider Electric SE, Siemens AG, and Wipro Products Limited. 

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of  the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Electrical Digital Twin Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Electrical Digital Twin Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Electrical Digital Twin Market?

4. What is the competitive strategic window for opportunities in the Global Electrical Digital Twin Market?

5. What are the technology trends and regulatory frameworks in the Global Electrical Digital Twin Market?

6. What is the market share of the leading vendors in the Global Electrical Digital Twin Market?

7. What modes and strategic moves are considered suitable for entering the Global Electrical Digital Twin Market?