Green Digital Twin Market: Current Analysis and Forecast (2023-2030)

The Green Digital twin market is growing at a propelling rate owing to the rising green digital technology that helps in reducing carbon emissions and ensuring energy efficiency of technological infrastructure, responsible for the use of resources, and the promotion of sustainable behaviors through digital applications and services. Further, green tech can make existing industries more efficient by moving in-house operations to the cloud.

The soaring need to reduce carbon emissions in end-user industries across the globe and focus on maximizing the lifespan of products through the repair, reuse, and recycling of materials is increasing the adoption of green and digital technology market demand.

Moreover, various key players in the market are adopting green digital twins in the value chain of the manufacturing sector to minimize carbon footprints, reduce cost, and wastage and escalate the maximum flexibility in designing parts for repair and re-manufacturing.

Based on the deployment type, the market is segmented into on-premise and cloud. The cloud segment caters to the highest share of the green digital twin market. It is mainly due to the cloud capability to provide a scalable and flexible infrastructure for implementing digital twins. It offers advantages such as cost savings, accessibility, and powerful computing capabilities.

Based on the applications, the market is segmented into predictive maintenance, product design & development, business optimization, inventory management, and performance monitoring. Among these predictive maintenance holds a significant in the market. This is due to the desire to move from reactive or preventive maintenance approaches to more proactive and cost-effective strategies.

Based on the end-user, the green digital twin is segmented into building and construction, manufacturing, mining, energy, etc. The energy segment catered to a significant share and witnessed an uptick in growth in the forecasted period. As a digital twin obtains information about energy consumption across facilities in different regions, including weather data and distribution trends, grid operators can communicate in real-time with nearby cities to coordinate shortages or excesses in energy.

For a better understanding of the market adoption of green digital twin the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. The green digital twin market in North America caters significant share owing to the growing investment in green and digital technologies across various industries. In particular, North America is striving to reduce carbon emissions and achieve sustainability goals, which is driving demand for green digital twin solutions.

Additionally, the region boasts advanced manufacturing industries such as aerospace, automotive, and electronics, which are adopting digital twin technology to improve operations, detect anomalies, and make better decisions. This can lead to cost savings and increased productivity.

Some of the major players operating in the market include: IBM, Dassault Systemes, Siemens, Autodesk, Schneider Electric, Bentley Systems, Ansys, AVEVA, Parametric Technology Corporation, and Cognite.