Press release
Electrical Digital Twin Market worth $1.3 Billion by 2026
According to the new market research report "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", published by MarketsandMarkets™, The Electrical Digital Twin Market size will grow to USD 1.3 billion by 2026 from USD 0.8 billion in 2021, at a CAGR of 12.2% during the forecast period.Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=192874390
The integration of variable renewable energy with the grid and increasing decentralization of distributed energy resources using electrical digital twins are the driving factors for the Electrical Digital Twin Market, globally. Utilities and grid infrastructure operators across regions are increasingly looking toward digital technologies, including electrical digital twins, to help streamline the integration of the growing share of renewable energy technologies into their operational mix. The emergence of Energy 4.0 and the increasing adoption of advanced technologies for implementation of digital twin applications creates ample opportunities for growth of the market.
The utilities segment is expected to be the largest segment of the electrical digital twin market, by end user, during the forecast period.
The utilities segment held a larger share of the electrical digital twin market. Power utilities are rapidly investing in the deployment of electrical digital twins as they aid operators in achieving efficiency in terms of workforce optimization and enhance plant operations by reducing unplanned downtime. To clearly understand the impacts of distributed energy resources (DERs) on the grid, utilities need to streamline interconnection application processes and create digital network analysis models from the existing geographic information system (GIS) network data using electrical digital twins.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=192874390
North America likely to emerge as the largest electrical digital twin market
In this report, the electrical digital twin market has been analyzed for six regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. The growth of the North American market is driven by the increasing investments for the deployment of advance digital technology to upgrade to aging power generation and distribution infrastructure. Furthermore, the increasing need to deliver clean, reliable energy, and a strong focus on renewable energy generation are among a few major factors driving investments in digital technologies such as electrical digital twin. The increased R&D in the field of cloud, big data analytics, IoT and IIoT and increasing demand for efficient and cost-effective technologies to improve assets performance and optimize business operations are also supporting the regional market growth. The governments in US and Canada have also made several policy reforms to accelerate the decarbonization of the power sector. Thus, North America dominated the Electrical Digital Twin Market during the forecasted period.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Electrical Digital Twin Market. Some of the key players are General Electric (US), Siemens (Germany), ABB (Switzerland), Emerson (US), and AVEVA Group (UK). The leading players are adopting various strategies to increase their share in the electrical digital twin market.
Content Source: https://www.marketsandmarkets.com/PressReleases/electrical-digital-twin.asp
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
About MarketsandMarkets™:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electrical Digital Twin Market worth $1.3 Billion by 2026 here
News-ID: 2459533 • Views: …
More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for…

With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth.
Download PDF Brochure @…

Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing…

Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of…
More Releases for Digital
Introducing Digital Sales Pro, Inc: Revolutionizing Digital Sales in the Digital …
Digital Sales Pro, Inc. is a company that helps content creators and publishers make money from content and reach a larger audience with their craft.
In today's world, it can be tough for content creators and publishers to make money and connect with their audience.
At, Digital Sales Pro, Inc. we understand these challenges and have created a suite of solutions that help our clients build a strong online presence, monetize…
Digital Twin in Healthcare Market Analysis By Type - Product Digital Twins, Proc …
Introduction
The healthcare industry has seen significant growth and development over the years, with technology playing a critical role in transforming patient care. One such innovative technology that has emerged in recent years is the Global Digital Twin in Healthcare Market. This technology allows healthcare professionals to create a virtual replica of a patient's physical self, enabling them to monitor and analyze patient data in real-time. The Global Digital Twin in…
Digital Twin in Healthcare Market Analysis By Type - Product Digital Twins, Proc …
In 2021, the market for Digital Twin in Healthcare worldwide was worth $6.75 billion US dollars. AMR Group projects that the market will reach US$ 96.5 billion by 2031, growing at a CAGR of 40 percent between 2022 and 2031.
Industry Overview
Digital twins are virtual copies of physical objects or things that data scientist & IT professionals can use to compute simulations prior to developing and deploying the original devices. Digital…
Digital Therapeutics Market, Digital Therapeutics Market Size, Digital Therapeut …
The global digital therapeutics market is expected to reach US$ 8,941.1 Mn by 2025 from US$ 1,993.2 Mn in 2017. The market is estimated to grow with a CAGR of 20.8% during the forecast period from 2018 to 2025.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant…
Digital Advertising on Mobil Market Analysis 2019 Top Growing Companies: Adverti …
Digital Advertising on Mobil Market
Digital Advertising on Mobile Market is a type of advertising that shows that mobile devices such as smart phones and tablets have wireless connectivity. For mobile devices with fewer lenses than computers or laptops, digital media formats are often the most suitable for small displays through outputs. Telephone advertising is the communication of products or services of mobile devices and consumers. Telephone announcements range from…
Digital Display Market Future Growth with Worldwide Players (Digital Virgo, Digi …
Digital Display Industry 2019 Global Market 2025 research report represents the historical overview of current Market situation, size, share, trends, growth, supply, outlook and manufacturers with detailed analysis. It also focuses on Digital Display volume and value at global level, regional level and company level. From a global perspective, this report represents overall Digital Display market size by analyzing historical data and future prospect.
Get Sample Copy of this Report -…