Electrical Digital Twin Market Research Report by Twin Type, Usage Type, Deployment Type, End User, Application, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19

The Global Electrical Digital Twin Market size was estimated at USD 917.72 million in 2021 and expected to reach USD 1,068.41 million in 2022, and is projected to grow at a CAGR 16.67% to reach USD 2,315.14 million by 2027.

Market Statistics:
The report provides market sizing and forecast across 7 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 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as 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, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, 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.

Cumulative Impact of 2022 Russia Ukraine Conflict:
We continuously monitor and update reports on political and economic uncertainty due to the Russian invasion of Ukraine. Negative impacts are significantly foreseen globally, especially across Eastern Europe, European Union, Eastern & Central Asia, and the United States. This contention has severely affected lives and livelihoods and represents far-reaching disruptions in trade dynamics. The potential effects of ongoing war and uncertainty in Eastern Europe are expected to have an adverse impact on the world economy, with especially long-term harsh effects on Russia.This report uncovers the impact of demand & supply, pricing variants, strategic uptake of vendors, and recommendations for Electrical Digital Twin market considering the current update on the conflict and its global response.

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?

1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Ongoing trend of decentralization of distributed energy resources
5.1.1.2. Rising efficiency and optimization of operations of power sector
5.1.1.3. Emerging integration of variable renewable energy
5.1.2. Restraints
5.1.2.1. Availability of advanced mathematical models coupled with system complexities
5.1.3. Opportunities
5.1.3.1. Rapid adoption of advanced technologies for implementation of electrical digital twin
5.1.3.2. Growing digitalization in power sector
5.1.3.3. High demand for protection of electrical data management
5.1.4. Challenges
5.1.4.1. Dearth of skilled and experienced workforce
5.2. Cumulative Impact of COVID-19

6. Electrical Digital Twin Market, by Twin Type
6.1. Introduction
6.2. Digital Gas & Steam Power Plant
6.3. Digital Grid
6.4. Digital Hydropower Plant
6.5. Digital Wind Farm
6.6. Distributed Energy Resources

7. Electrical Digital Twin Market, by Usage Type
7.1. Introduction
7.2. Process Digital Twin
7.3. Product Digital Twin
7.4. System Digital Twin

8. Electrical Digital Twin Market, by Deployment Type
8.1. Introduction
8.2. Cloud
8.3. On-premises

9. Electrical Digital Twin Market, by End User
9.1. Introduction
9.2. Grid Infrastructure Operators
9.3. Utilities

10. Electrical Digital Twin Market, by Application
10.1. Introduction
10.2. Asset Performance Management
10.3. Business & Operations Optimization

11. Americas Electrical Digital Twin Market
11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Electrical Digital Twin Market
12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Electrical Digital Twin Market
13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape
14.1. FPNV Positioning Matrix
14.1.1. Quadrants
14.1.2. Business Strategy
14.1.3. Product Satisfaction
14.2. Market Ranking Analysis, By Key Player
14.3. Market Share Analysis, By Key Player
14.4. Competitive Scenario
14.4.1. Merger & Acquisition
14.4.2. Agreement, Collaboration, & Partnership
14.4.3. New Product Launch & Enhancement
14.4.4. Investment & Funding
14.4.5. Award, Recognition, & Expansion

15. Company Usability Profiles
15.1. ABB Ltd.
15.1.1. Business Overview
15.1.2. Key Executives
15.1.3. Product & Services
15.2. ACPD Services Ltd
15.2.1. Business Overview
15.2.2. Key Executives
15.2.3. Product & Services
15.3. Altair Engineering Inc
15.3.1. Business Overview
15.3.2. Key Executives
15.3.3. Product & Services
15.4. Ansys, Inc.
15.4.1. Business Overview
15.4.2. Key Executives
15.4.3. Product & Services
15.5. AVEVA GROUP
15.5.1. Business Overview
15.5.2. Key Executives
15.5.3. Product & Services
15.6. Bentley Systems, Inc.
15.6.1. Business Overview
15.6.2. Key Executives
15.6.3. Product & Services
15.7. DNV GL
15.7.1. Business Overview
15.7.2. Key Executives
15.7.3. Product & Services
15.8. Emerson Electric Co.
15.8.1. Business Overview
15.8.2. Key Executives
15.8.3. Product & Services
15.9. Etteplan Sweden AB.
15.9.1. Business Overview
15.9.2. Key Executives
15.9.3. Product & Services
15.10. Fujitsu Limited
15.10.1. Business Overview
15.10.2. Key Executives
15.10.3. Product & Services
15.11. General Electric Company
15.11.1. Business Overview
15.11.2. Key Executives
15.11.3. Product & Services
15.12. International Business Machines Corporation
15.12.1. Business Overview
15.12.2. Key Executives
15.12.3. Product & Services
15.13. Microsoft Corporation
15.13.1. Business Overview
15.13.2. Key Executives
15.13.3. Product & Services
15.14. Oracle Corporation
15.14.1. Business Overview
15.14.2. Key Executives
15.14.3. Product & Services
15.15. PhDsoft Tecnologia Limitada
15.15.1. Business Overview
15.15.2. Key Executives
15.15.3. Product & Services
15.16. SAP SE
15.16.1. Business Overview
15.16.2. Key Executives
15.16.3. Product & Services
15.17. SAS INSTITUTE
15.17.1. Business Overview
15.17.2. Key Executives
15.17.3. Product & Services
15.18. Schneider Electric SE
15.18.1. Business Overview
15.18.2. Key Executives
15.18.3. Product & Services
15.19. Siemens AG
15.19.1. Business Overview
15.19.2. Key Executives
15.19.3. Product & Services
15.20. Wipro Products Limited
15.20.1. Business Overview
15.20.2. Key Executives
15.20.3. Product & Services

16. Appendix
16.1. Discussion Guide
16.2. License & Pricing