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Electricity MarketIoTDigital Twin

PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1035810

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PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1035810

Electrical Digital Twin Market by Twin Type (Gas & Steam Power Plant, Wind Farm, Digital Grid, Others), Usage Type (Product, Process, System), Deployment Type (Cloud, On-Premises), End User, Application, and Geography - Global Forecast to 2026

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Table of Contents

The electrical digital twin market is projected to reach USD 1.3 billion by 2026 from an estimated USD 0.8 billion in 2021, at a CAGR of 12.2% during the forecast period. The global electrical digital twin market is driven by the reduction in unplanned downtime and operation & maintenance costs and the increase in efficiency and optimization of operations of power sector owing to the use of electrical digital twins. Growing demand to achieve network-level optimization and the increasing adoption of advanced technologies for the implementation of digital twin applications are expected to offer lucrative opportunities for the electrical digital twin market during the forecast period

"The cloud segment, by deployment type, is expected to be the fastest-growing market from 2021 to 2026"

The deployment type segment is categorized as cloud and on-premise. The cloud segment of the electrical digital twin market is expected to grow at the fastest rate during the forecast period, as cloud-based solutions offer various advantages, such as scalability, adaptability, cost-effectiveness, and low energy consumption, due to which their adoption rate is increasing at a significant rate across organizations.

"The digital gas & steam power plant segment, by twin type, is expected to be the largest market from 2021 to 2026"

The digital gas & steam power plant segment held the largest share of the electrical digital twin market as power sector operators globally are gradually planning to implement digital twins of gas and steam power plants to reduce emission and fuel consumption of gas and steam turbine assets. The digital twins of gas and steam power plants can also help operators optimize their strategies, improve machine and equipment health, and increase reliability through performance management.

"North America: The largest and the fastest-growing region in the electrical digital twin market."

North America is expected to dominate the global electrical digital twin market between 2021-2026. North America has aging power infrastructures, which may increase the risk of a widespread blackout. Therefore, governments of different countries in this region are actively focusing on upgrading and replacing aging infrastructures for improved grid reliability and resilience, along with enabling smart electricity networks. Digital twin technologies help utilities in the region analyze and model their power generation operations amid the ever-changing generation resource mix.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%

By Designation: C-Level- 30%, D-Level- 25%, and Others- 45%

By Region: North America- 33%, Europe- 27%, Asia Pacific- 20%,- 4%, and South America-12%, Middle East & Africa- 8%

Note: "Others" include sales managers, engineers, and regional managers

The tiers of the companies are defined based on their total revenue as of 2019: Tier 1: >USD 1 billion, Tier 2: USD 500 million-1 billion, and Tier 3: <USD 500 million

The electrical digital twin market is dominated by a few major players that have a wide regional presence. The leading players in the electrical digital twin market are ABB (Switzerland), General Electric (US), Siemens (Germany), Emerson (US), and AVEVA Group (UK). Some of the other major players include Schneider Electric (France), Microsoft (US), Wipro (India), SAS Institute (US), SAP (Germany), IBM (US), ANSYS (US), Bentley Systems (US), and others.

Study Coverage:

The report defines, describes, and forecasts the electrical digital twin market, by twin type, usage type, deployment type, end user, application, and geography. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the electrical digital twin market.

Key Benefits of Buying the Report

1. The report identifies and addresses the key markets for electrical digital twin operations and services, which would help electrical digital twin providers review the growth in demand.

2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.

3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.

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Product Code: EP 7212

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 STUDY OBJECTIVES
  • 1.2 DEFINITION
  • 1.3 INCLUSIONS AND EXCLUSIONS
    • 1.3.1 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION
  • 1.4 MARKET SCOPE
    • 1.4.1 ELECTRICAL DIGITAL TWIN MARKET: SEGMENTATION
    • 1.4.2 GEOGRAPHIC SCOPE
  • 1.5 YEARS CONSIDERED
  • 1.6 CURRENCY
  • 1.7 LIMITATIONS
  • 1.8 STAKEHOLDERS
  • 1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY

  • 2.1 RESEARCH DATA
    • FIGURE 1 ELECTRICAL DIGITAL TWIN MARKET: RESEARCH DESIGN
  • 2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
    • FIGURE 2 DATA TRIANGULATION METHODOLOGY
    • 2.2.1 SECONDARY DATA
      • 2.2.1.1 Key data from secondary sources
    • 2.2.2 PRIMARY DATA
      • 2.2.2.1 Key data from primary sources
      • 2.2.2.2 Breakdown of primaries
  • 2.3 MARKET SIZE ESTIMATION
    • 2.3.1 BOTTOM-UP APPROACH
    • FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
    • 2.3.2 TOP-DOWN APPROACH
    • FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    • 2.3.3 DEMAND SIDE METRICS
    • FIGURE 5 MAIN METRICS CONSIDERED FOR ANALYSING AND ASSESSING DEMAND FOR ELECTRICAL DIGITAL TWINS
      • 2.3.3.1 Demand side calculations
      • 2.3.3.2 Assumptions for demand side analysis
    • 2.3.4 SUPPLY SIDE ANALYSIS
    • FIGURE 6 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF ELECTRICAL DIGITAL TWINS
    • FIGURE 7 ELECTRICAL DIGITAL TWIN MARKET: SUPPLY SIDE ANALYSIS
      • 2.3.4.1 Supply side calculations
      • 2.3.4.2 Assumptions for supply side
    • 2.3.5 FORECAST

3 EXECUTIVE SUMMARY

    • TABLE 1 ELECTRICAL DIGITAL TWIN MARKET SNAPSHOT
    • FIGURE 8 NORTH AMERICA DOMINATED ELECTRICAL DIGITAL TWIN MARKET IN 2020
    • FIGURE 9 DIGITAL GAS & STEAM POWER PLANT SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, FROM 2021 TO 2026
    • FIGURE 10 SYSTEM DIGITAL TWIN SEGMENT TO LEAD ELECTRICAL DIGITAL TWIN MARKET DURING FORECAST PERIOD
    • FIGURE 11 ON-PREMISE SEGMENT TO HOLD LARGER SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, DURING FORECAST PERIOD
    • FIGURE 12 UTILITIES SEGMENT TO ACCOUNT FOR LARGER SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY END USER, DURING FORECAST PERIOD
    • FIGURE 13 ASSET PERFORMANCE MANAGEMENT SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, FROM 2021 TO 2026

4 PREMIUM INSIGHTS

  • 4.1 ATTRACTIVE OPPORTUNITIES IN ELECTRICAL DIGITAL TWIN MARKET
    • FIGURE 14 INTEGRATION OF RENEWABLE ENERGY INTO ELECTRIC DISTRIBUTION AND TRANSMISSION SYSTEMS AND DECENTRALIZATION OF DISTRIBUTED ENERGY RESOURCES TO DRIVE GROWTH OF ELECTRICAL DIGITAL TWIN MARKET BETWEEN 2021 AND 2026
  • 4.2 ELECTRICAL DIGITAL TWIN MARKET, BY REGION
    • FIGURE 15 NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
  • 4.3 NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE AND COUNTRY
    • FIGURE 16 DIGITAL GAS & STEAM POWER PLANT SEGMENT AND US HELD LARGEST SHARES OF NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET IN 2020
  • 4.4 ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE
    • FIGURE 17 DIGITAL GAS & STEAM POWER PLANT SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE, BY TWIN TYPE, BY 2026
  • 4.5 ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE
    • FIGURE 18 SYSTEM DIGITAL TWIN SEGMENT TO DOMINATE ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, IN 2026
  • 4.6 ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE
    • FIGURE 19 CLOUD TO BE FASTEST-GROWING SEGMENT OF ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, BY 2026
  • 4.7 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION
    • FIGURE 20 ASSET PERFORMANCE MANAGEMENT SEGMENT TO DOMINATE ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, IN 2026
  • 4.8 ELECTRICAL DIGITAL TWIN MARKET, BY END USER
    • FIGURE 21 UTILITIES SEGMENT TO DOMINATE ELECTRICAL DIGITAL TWIN MARKET, BY END USER, IN 2026

5 MARKET OVERVIEW

  • 5.1 INTRODUCTION
  • 5.2 COVID-19 HEALTH ASSESSMENT
    • FIGURE 22 GLOBAL PROPAGATION OF COVID-19
    • FIGURE 23 PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES
  • 5.3 COVID-19 ECONOMIC ASSESSMENT
    • FIGURE 24 REVISED GDP FOR SELECTED G20 COUNTRIES IN 2020
  • 5.4 MARKET DYNAMICS
    • FIGURE 25 ELECTRICAL DIGITAL TWIN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
    • 5.4.1 DRIVERS
      • 5.4.1.1 Integration of variable renewable energy and decentralization of distributed energy resources using electrical digital twins
    • FIGURE 26 GLOBAL POWER GENERATION, BY SOURCE, 2010-2020
      • 5.4.1.2 Increase in efficiency and optimization of operations of power sector
      • 5.4.1.3 Reduction in unplanned downtime and operation & maintenance costs
    • 5.4.2 RESTRAINTS
      • 5.4.2.1 System complexities and availability of accurate mathematical models
      • 5.4.2.2 Data privacy and security concerns due to use of IoT and cloud platforms
    • 5.4.3 OPPORTUNITIES
      • 5.4.3.1 Emergence of Energy 4.0 and adoption of advanced technologies for implementation of digital twin applications
      • 5.4.3.2 Achieving network-level optimization
      • 5.4.3.3 Accelerated digital transformation across power sector due to COVID-19
    • 5.4.4 CHALLENGES
      • 5.4.4.1 Limited support for deployment from stakeholders
      • 5.4.4.2 Lack of skilled workforce
      • 5.4.4.3 Uncertainty of cost benefits involved in adoption of electrical digital twins
  • 5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS
    • 5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR ELECTRICAL DIGITAL TWIN PROVIDERS
    • FIGURE 27 REVENUE SHIFT FOR ELECTRICAL DIGITAL TWIN PROVIDERS
  • 5.6 MARKET MAP
    • FIGURE 28 MARKET MAP: ELECTRICAL DIGITAL TWIN MARKET
  • 5.7 VALUE CHAIN ANALYSIS
    • FIGURE 29 VALUE CHAIN ANALYSIS: ELECTRICAL DIGITAL TWIN MARKET
    • 5.7.1 RESEARCH, DESIGN, AND DEVELOPMENT
    • 5.7.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
    • 5.7.3 ELECTRICAL DIGITAL TWIN SOLUTION/SOFTWARE/SERVICE PROVIDERS
    • 5.7.4 END USERS
  • 5.8 TECHNOLOGY ANALYSIS
    • 5.8.1 ELECTRICAL DIGITAL TWINS BASED ON DIFFERENT TECHNOLOGIES
      • 5.8.1.1 Cloud/Software as a Service
      • 5.8.1.2 Internet of Things (IoT) and Industrial Internet of Things (IIoT)
      • 5.8.1.3 Blockchain
      • 5.8.1.4 Artificial Intelligence (AI) and Machine Learning (ML)
      • 5.8.1.5 Augmented Reality (AR)
      • 5.8.1.6 5G
  • 5.9 ELECTRICAL DIGITAL TWIN MARKET: CODES AND REGULATIONS
    • TABLE 2 ELECTRICAL DIGITAL TWIN: CODES AND REGULATIONS
  • 5.10 INNOVATIONS AND PATENT REGISTRATIONS
    • TABLE 3 ELECTRICAL DIGITAL TWIN: INNOVATIONS AND PATENT REGISTRATIONS, NOVEMBER 2016-SEPTEMBER 2021
  • 5.11 PORTER'S FIVE FORCES ANALYSIS
    • FIGURE 30 PORTER'S FIVE FORCES ANALYSIS FOR ELECTRICAL DIGITAL TWIN MARKET
    • TABLE 4 ELECTRICAL DIGITAL TWIN MARKET: PORTER'S FIVE FORCES ANALYSIS
    • 5.11.1 THREAT OF SUBSTITUTES
    • 5.11.2 BARGAINING POWER OF SUPPLIERS
    • 5.11.3 BARGAINING POWER OF BUYERS
    • 5.11.4 THREAT OF NEW ENTRANTS
    • 5.11.5 INTENSITY OF COMPETITIVE RIVALRY
  • 5.12 CASE STUDY ANALYSIS
    • TABLE 5 ELECTRICAL DIGITAL TWIN MARKET: CASE STUDY ANALYSIS

6 ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE

  • 6.1 INTRODUCTION
    • FIGURE 31 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY TWIN TYPE, 2020 (%)
    • TABLE 6 ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019-2026 (USD MILLION)
  • 6.2 DIGITAL GAS & STEAM POWER PLANT
    • 6.2.1 GROWING NEED TO ENHANCE EFFICIENCY AND REDUCE FUEL CONSUMPTION AND ENVIRONMENTAL EMISSIONS TO INCREASE IMPLEMENTATION OF DIGITAL GAS & STEAM POWER PLANTS
    • TABLE 7 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL GAS & STEAM POWER PLANT, BY REGION, 2019-2026 (USD MILLION)
  • 6.3 DIGITAL WIND FARM
    • 6.3.1 GROWING NEED FOR ENHANCING TURBINE UPTIME TO DRIVE GROWTH OF DIGITAL WIND FARMS
    • TABLE 8 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL WIND FIND, BY REGION, 2019-2026 (USD MILLION)
  • 6.4 DIGITAL GRID
    • 6.4.1 RISING NEED FOR INTEGRATING RENEWABLES WITH GRIDS TO BOOST DEMAND FOR PROCESS DIGITAL TWINS
    • TABLE 9 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL GRID, BY REGION, 2019-2026 (USD MILLION)
  • 6.5 DIGITAL HYDROPOWER PLANT
    • 6.5.1 INCREASING FOCUS ON MAINTAINING INTEGRITY OF ASSETS TO DRIVE DEMAND FOR DIGITAL HYDROPOWER PLANTS
    • TABLE 10 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL HYDROPOWER PLANT, BY REGION, 2019-2026 (USD MILLION)
  • 6.6 DISTRIBUTED ENERGY RESOURCES
    • 6.6.1 GROWING NEED FOR REAL-TIME MONITORING, CONTROLLING, AND OPTIMIZATION OF DISTRIBUTED ENERGY SOURCES TO BOOST GROWTH OF SEGMENT
    • TABLE 11 ELECTRICAL DIGITAL TWIN MARKET FOR DISTRIBUTED ENERGY RESOURCES, BY REGION, 2019-2026 (USD MILLION)

7 ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE

  • 7.1 INTRODUCTION
    • FIGURE 32 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY USAGE TYPE, 2020 (%)
    • TABLE 12 ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019-2026 (USD MILLION)
  • 7.2 PRODUCT DIGITAL TWIN
    • 7.2.1 GROWING NEED FOR ASSET MONITORING AND PERFORMANCE MANAGEMENT TO INCREASE IMPLEMENTATION OF ELECTRICAL PRODUCT DIGITAL TWINS
    • TABLE 13 PRODUCT ELECTRICAL DIGITAL TWIN MARKET, BY REGION, 2019-2026 (USD MILLION)
  • 7.3 PROCESS DIGITAL TWIN
    • 7.3.1 GROWING NEED FOR ENHANCING WORKFLOW EFFICIENCY AND PROCESS OPTIMIZATION TO DRIVE GROWTH OF PROCESS DIGITAL TWIN SEGMENT
    • TABLE 14 PROCESS ELECTRICAL DIGITAL TWIN MARKET, BY REGION, 2019-2026 (USD MILLION)
  • 7.4 SYSTEM DIGITAL TWIN
    • 7.4.1 GROWING NEED FOR ACHIEVING NETWORK-LEVEL OPTIMIZATION TO FUEL DEMAND FOR SYSTEM DIGITAL TWINS
    • TABLE 15 SYSTEM ELECTRICAL DIGITAL TWIN MARKET, BY REGION, 2019-2026 (USD MILLION)

8 ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE

  • 8.1 INTRODUCTION
    • FIGURE 33 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY DEPLOYMENT TYPE, 2020
    • TABLE 16 ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019-2026 (USD MILLION)
  • 8.2 ON-PREMISE
    • 8.2.1 SECURITY CONCERNS RELATED TO SENSITIVE DATA TO FUEL DEMAND FOR ON-PREMISE DEPLOYMENT TYPE
    • TABLE 17 ELECTRICAL DIGITAL TWIN MARKET FOR ON-PREMISE DEPLOYMENT, BY REGION, 2019-2026 (USD MILLION)
  • 8.3 CLOUD
    • 8.3.1 EASE OF DEPLOYMENT, COST-EFFECTIVENESS, AND SCALABILITY TO DRIVE DEMAND FOR CLOUD DEPLOYMENT OF ELECTRICAL DIGITAL TWINS
    • TABLE 18 ELECTRICAL DIGITAL TWIN MARKET FOR CLOUD DEPLOYMENT, BY REGION, 2019-2026 (USD MILLION)

9 ELECTRICAL DIGITAL TWIN MARKET, BY END USER

  • 9.1 INTRODUCTION
    • FIGURE 34 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY END USER, 2020 (%)
    • TABLE 19 ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
  • 9.2 UTILITIES
    • 9.2.1 GROWING ADOPTION OF RENEWABLE ENERGY AND ADVANCED DIGITAL TECHNOLOGIES TO DRIVE GROWTH OF UTILITIES SEGMENT
    • TABLE 20 ELECTRICAL DIGITAL TWIN MARKET FOR UTILITIES, BY REGION, 2019-2026 (USD MILLION)
  • 9.3 GRID INFRASTRUCTURE OPERATORS
    • 9.3.1 GROWING NEED FOR GRID MODERNIZATION TO BOOST GROWTH OF ELECTRICAL DIGITAL TWIN MARKET
    • TABLE 21 ELECTRICAL DIGITAL TWIN MARKET FOR GRID INFRASTRUCTURE OPERATORS, BY REGION, 2019-2026 (USD MILLION)

10 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION

  • 10.1 INTRODUCTION
    • FIGURE 35 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY APPLICATION, 2020 (%)
    • TABLE 22 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019-2026 (USD MILLION)
  • 10.2 ASSET PERFORMANCE MANAGEMENT
    • 10.2.1 GROWING NEED FOR CONTINUOUS MONITORING AND PREDICTIVE MAINTENANCE OF ASSETS TO DRIVE GROWTH OF ASSET PERFORMANCE MANAGEMENT SEGMENT
      • 10.2.1.1 Equipment health
      • 10.2.1.2 Reliability management
      • 10.2.1.3 Maintenance optimization
    • TABLE 23 ELECTRICAL DIGITAL TWIN MARKET FOR ASSET PERFORMANCE MANAGEMENT, BY REGION, 2019-2026 (USD MILLION)
  • 10.3 BUSINESS & OPERATIONS OPTIMIZATION
    • 10.3.1 GROWING NEED FOR OPERATIONAL FLEXIBILITY AND REDUCING DOWNTIME TO BOOST GROWTH OF BUSINESS & OPERATIONS OPTIMIZATION SEGMENT
      • 10.3.1.1 Operational flexibility
      • 10.3.1.2 Outage management
    • TABLE 24 ELECTRICAL DIGITAL TWIN MARKET FOR BUSINESS & OPERATIONS OPTIMIZATION, BY REGION, 2019-2026 (USD MILLION)

11 GEOGRAPHIC ANALYSIS

  • 11.1 INTRODUCTION
    • FIGURE 36 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY REGION, 2020 (%)
    • FIGURE 37 NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET TO REGISTER HIGHEST CAGR FROM 2021 TO 2026
    • TABLE 25 ELECTRICAL DIGITAL TWIN MARKET, BY REGION, 2019-2026 (USD MILLION)
  • 11.2 NORTH AMERICA
    • FIGURE 38 SNAPSHOT: NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET
    • TABLE 26 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019-2026 (USD MILLION)
    • TABLE 27 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019-2026 (USD MILLION)
    • TABLE 28 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019-2026 (USD MILLION)
    • TABLE 29 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • TABLE 30 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019-2026 (USD MILLION)
    • TABLE 31 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY, 2019-2026 (USD MILLION)
    • 11.2.1 US
      • 11.2.1.1 Initiatives to upgrade aging infrastructure and increasing federal and private investments to drive growth of US electrical digital twin market
    • TABLE 32 US ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.2.2 CANADA
      • 11.2.2.1 Growing adoption of renewables and advanced technologies to boost demand for electrical digital twins in Canada
    • TABLE 33 CANADA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.2.3 MEXICO
      • 11.2.3.1 Increasing investments in renewables and decarbonization of Mexican power sector to fuel demand for electrical digital twins
    • TABLE 34 MEXICO ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
  • 11.3 EUROPE
    • FIGURE 39 SNAPSHOT: EUROPEAN ELECTRICAL DIGITAL TWIN MARKET
    • TABLE 35 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019-2026 (USD MILLION)
    • TABLE 36 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019-2026 (USD MILLION)
    • TABLE 37 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019-2026 (USD MILLION)
    • TABLE 38 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • TABLE 39 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019-2026 (USD MILLION)
    • TABLE 40 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY, 2019-2026 (USD MILLION)
    • 11.3.1 GERMANY
      • 11.3.1.1 Growing need to ensure grid stability to drive growth of German market
    • TABLE 41 GERMANY ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.3.2 UK
      • 11.3.2.1 Growing demand for wind energy to increase deployment of electrical digital twins in UK
    • TABLE 42 UK ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.3.3 FRANCE
      • 11.3.3.1 Digitalization of legacy infrastructure and growing need for improving operational efficiency to boost demand for electrical digital twins in France
    • TABLE 43 FRANCE ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.3.4 NORDIC COUNTRIES
      • 11.3.4.1 Growing preference for real-time and remote monitoring of wind farms to boost market growth
    • TABLE 44 THE NORDIC COUNTRIES ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.3.5 REST OF EUROPE
    • TABLE 45 REST OF EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
  • 11.4 ASIA PACIFIC
    • TABLE 46 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019-2026 (USD MILLION)
    • TABLE 47 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019-2026 (USD MILLION)
    • TABLE 48 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019-2026 (USD MILLION)
    • TABLE 49 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • TABLE 50 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019-2026 (USD MILLION)
    • TABLE 51 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY, 2019-2026 (USD MILLION)
    • 11.4.1 CHINA
      • 11.4.1.1 Increasing renewable capacity addition and development of electric vehicle charging infrastructure to fuel market growth
    • TABLE 52 CHINA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.4.2 JAPAN
      • 11.4.2.1 Increasing private and public investments in renewable capacity addition to drive growth of electrical digital twin market in Japan
    • TABLE 53 JAPAN ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.4.3 AUSTRALIA
      • 11.4.3.1 Increasing demand for grid reliability and energy security to boost market growth in Australia
    • TABLE 54 AUSTRALIA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.4.4 REST OF ASIA PACIFIC
    • TABLE 55 REST OF ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
  • 11.5 SOUTH AMERICA
    • TABLE 56 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019-2026 (USD MILLION)
    • TABLE 57 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019-2026 (USD MILLION)
    • TABLE 58 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019-2026 (USD MILLION)
    • TABLE 59 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • TABLE 60 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019-2026 (USD MILLION)
    • TABLE 61 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY, 2019-2026 (USD MILLION)
    • 11.5.1 BRAZIL
      • 11.5.1.1 Increasing government-led investments to improve reliability of power generation, transmission, and distribution assets to fuel market growth
    • TABLE 62 BRAZIL ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.5.2 ARGENTINA
      • 11.5.2.1 Growing demand for renewable energy and need for improving operational efficiency to fuel demand for electrical digital twins in Argentina
    • TABLE 63 ARGENTINA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.5.3 REST OF SOUTH AMERICA
    • TABLE 64 REST OF SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
  • 11.6 MIDDLE EAST & AFRICA
    • TABLE 65 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019-2026 (USD MILLION)
    • TABLE 66 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019-2026 (USD MILLION)
    • TABLE 67 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019-2026 (USD MILLION)
    • TABLE 68 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • TABLE 69 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019-2026 (USD MILLION)
    • TABLE 70 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY, 2019-2026 (USD MILLION)
    • 11.6.1 SAUDI ARABIA
      • 11.6.1.1 Grid modernization and digitalization initiatives to boost market growth in Saudi Arabia
    • TABLE 71 SAUDI ARABIA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.6.2 UAE
      • 11.6.2.1 Rising investments in renewable energy and grid expansion projects to create demand for electrical digital twins in Argentina
    • TABLE 72 UAE ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.6.3 SOUTH AFRICA
      • 11.6.3.1 Growing need to prevent outages and improve energy efficiency to fuel growth of electrical digital twin market in South Africa
    • TABLE 73 SOUTH AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)
    • 11.6.4 REST OF MIDDLE EAST & AFRICA
    • TABLE 74 REST OF MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019-2026 (USD MILLION)

12 COMPETITIVE LANDSCAPE

  • 12.1 KEY PLAYERS STRATEGIES
    • TABLE 75 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, JANUARY 2017-SEPTEMBER 2021
  • 12.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS
    • TABLE 76 ELECTRICAL DIGITAL TWIN MARKET: DEGREE OF COMPETITION
    • FIGURE 40 ELECTRICAL DIGITAL TWIN MARKET SHARE ANALYSIS, 2020
  • 12.3 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS
    • FIGURE 41 TOP PLAYERS IN ELECTRICAL DIGITAL TWIN MARKET FROM 2016 TO 2020
  • 12.4 COMPANY EVALUATION QUADRANT
    • 12.4.1 STAR
    • 12.4.2 PERVASIVE
    • 12.4.3 EMERGING LEADER
    • 12.4.4 PARTICIPANT
    • FIGURE 42 COMPETITIVE LEADERSHIP MAPPING: ELECTRICAL DIGITAL TWIN MARKET, 2020
    • TABLE 77 APPLICATION: COMPANY FOOTPRINT
    • TABLE 78 END USER: COMPANY FOOTPRINT
    • TABLE 79 REGION: COMPANY FOOTPRINT
    • TABLE 80 COMPANY FOOTPRINT
  • 12.5 COMPETITIVE SCENARIO
    • TABLE 81 ELECTRICAL DIGITAL TWIN MARKET: PRODUCT LAUNCHES, APRIL 2019-JULY 2021
    • TABLE 82 ELECTRICAL DIGITAL TWIN MARKET: DEALS, NOVEMBER 2019-JUNE 2021
    • TABLE 83 ELECTRICAL DIGITAL TWIN MARKET: OTHERS, DECEMBER 2018-SEPTEMBER 2021

13 COMPANY PROFILES

  • 13.1 KEY PLAYERS
  • (Business and financial overview, Products offered, Recent developments, and MNM view)**
    • 13.1.1 ABB
    • TABLE 84 ABB: BUSINESS OVERVIEW
    • FIGURE 43 ABB: COMPANY SNAPSHOT
    • TABLE 85 ABB: PRODUCTS OFFERED
    • TABLE 86 ABB: PRODUCT LAUNCHES
    • TABLE 87 ABB: DEALS
    • 13.1.2 AVEVA GROUP
    • TABLE 88 AVEVA: BUSINESS OVERVIEW
    • FIGURE 44 AVEVA GROUP: COMPANY SNAPSHOT
    • TABLE 89 AVEVA GROUP: PRODUCTS OFFERED
    • TABLE 90 AVEVA GROUP: DEALS
    • 13.1.3 GENERAL ELECTRIC
    • TABLE 91 GENERAL ELECTRIC: BUSINESS OVERVIEW
    • FIGURE 45 GENERAL ELECTRIC: COMPANY SNAPSHOT
    • TABLE 92 GENERAL ELECTRIC: PRODUCTS OFFERED
    • TABLE 93 GENERAL ELECTRIC: PRODUCT LAUNCHES
    • TABLE 94 GENERAL ELECTRIC: DEALS
    • TABLE 95 GENERAL ELECTRIC: OTHERS
    • 13.1.4 SIEMENS
    • TABLE 96 SIEMENS: BUSINESS OVERVIEW
    • FIGURE 46 SIEMENS: COMPANY SNAPSHOT
    • TABLE 97 SIEMENS: PRODUCTS OFFERED
    • TABLE 98 SIEMENS: PRODUCT LAUNCHES
    • TABLE 99 SIEMENS: DEALS
    • 13.1.5 EMERSON
    • TABLE 100 EMERSON: BUSINESS OVERVIEW
    • FIGURE 47 EMERSON: COMPANY SNAPSHOT
    • TABLE 101 EMERSON: PRODUCTS OFFERED
    • TABLE 102 EMERSON: PRODUCT LAUNCHES
    • TABLE 103 EMERSON: DEALS
    • 13.1.6 ETTEPLAN
    • TABLE 104 ETTEPLAN: BUSINESS OVERVIEW
    • FIGURE 48 ETTEPLAN: COMPANY SNAPSHOT
    • TABLE 105 ETTEPLAN: PRODUCTS OFFERED
    • TABLE 106 ETTEPLAN: DEALS
    • TABLE 107 ETTEPLAN: OTHERS
    • 13.1.7 WIPRO
    • TABLE 108 WIPRO: BUSINESS OVERVIEW
    • FIGURE 49 WIPRO: COMPANY SNAPSHOT
    • TABLE 109 WIPRO: PRODUCTS OFFERED
    • TABLE 110 WIPRO: DEALS
    • TABLE 111 WIPRO: OTHERS
    • 13.1.8 MIRCOSOFT
    • TABLE 112 MICROSOFT: BUSINESS OVERVIEW
    • FIGURE 50 MICROSOFT: COMPANY SNAPSHOT
    • TABLE 113 MICROSOFT: PRODUCTS OFFERED
    • TABLE 114 MICROSOFT: PRODUCT LAUNCHES
    • TABLE 115 MICROSOFT: DEALS
    • 13.1.9 IBM
    • TABLE 116 IBM: BUSINESS OVERVIEW
    • FIGURE 51 IBM: COMPANY SNAPSHOT
    • TABLE 117 IBM: PRODUCTS OFFERED
    • TABLE 118 IBM: PRODUCT LAUNCHES
    • TABLE 119 IBM: DEALS
    • 13.1.10 SCHNEIDER ELECTRIC
    • TABLE 120 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
    • FIGURE 52 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
    • TABLE 121 SCHNEIDER ELECTRIC: PRODUCTS OFFERED
    • TABLE 122 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES
    • TABLE 123 SCHNEIDER ELECTRIC: DEALS
    • 13.1.11 SAP
    • TABLE 124 SAP: BUSINESS OVERVIEW
    • FIGURE 53 SAP: COMPANY SNAPSHOT
    • TABLE 125 SAP: PRODUCTS OFFERED
    • TABLE 126 SAP: PRODUCT LAUNCHES
    • TABLE 127 SAP: DEALS
    • 13.1.12 ANSYS
    • TABLE 128 ANSYS: BUSINESS OVERVIEW
    • FIGURE 54 ANSYS: COMPANY SNAPSHOT
    • TABLE 129 ANSYS: PRODUCTS OFFERED
    • TABLE 130 ANSYS: PRODUCT LAUNCHES
    • TABLE 131 ANSYS: DEALS
    • 13.1.13 BENTLEY SYSTEMS
    • TABLE 132 BENTLEY SYSTEMS: BUSINESS OVERVIEW
    • FIGURE 55 BENTLEY SYSTEMS: COMPANY SNAPSHOT
    • TABLE 133 BENTLEY SYSTEMS: PRODUCTS OFFERED
    • TABLE 134 BENTLEY SYSTEMS: PRODUCT LAUNCHES
    • TABLE 135 BENTLEY SYSTEMS: DEALS
    • 13.1.14 FUJITSU
    • TABLE 136 FUJITSU: BUSINESS OVERVIEW
    • FIGURE 56 FUJITSU: COMPANY SNAPSHOT
    • TABLE 137 FUJITSU: PRODUCTS OFFERED
    • TABLE 138 FUJITSU: PRODUCT LAUNCHES
    • TABLE 139 FUJITSU: OTHERS
    • 13.1.15 ACPD SERVICES
    • TABLE 140 ACPD SERVICES: BUSINESS OVERVIEW
    • TABLE 141 ACPD SERVICES: PRODUCTS OFFERED
  • 13.2 OTHER PLAYERS
    • 13.2.1 ORACLE
    • 13.2.2 SAS INSTITUTE
    • 13.2.3 ALTAIR ENGINEERING
    • 13.2.4 DNV
    • 13.2.5 PHDSOFT
  • *Details on Business and financial overview, Products offered, Recent developments, and MNM view might not be captured in case of unlisted companies.

14 APPENDIX

  • 14.1 INSIGHTS OF INDUSTRY EXPERTS
  • 14.2 DISCUSSION GUIDE
  • 14.3 NOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
  • 14.4 AVAILABLE CUSTOMIZATIONS
  • 14.5 RELATED REPORTS
  • 14.6 AUTHOR DETAILS
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