1 Introduction (Page No. – 15)
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. – 19)
2.1 Scope
2.2 Market Size Estimation
2.2.1 Demand-Side Analysis
2.2.1.1 Assumptions
2.2.2 Supply-Side Analysis
2.2.2.1 Calculation
2.2.3 Forecast
2.2.4 Some of the Insights of Industry Experts
3 Executive Summary (Page No. – 23)
4 Premium Insights (Page No. – 27)
4.1 Attractive Opportunities in the Electrical Digital Twin Market
4.2 Electrical Digital Twins Market, By Deployment Type
4.3 Electrical Digital Twins Market, By Twin Type
4.4 North American Electrical Digital Twins Market, By Application & Country
4.5 Electrical Digital Twins Market, By End-User
4.6 Electrical Digital Twins Market, By Region
5 Market Overview (Page No. – 30)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Improved Accuracy and Efficiency in Power Sector Operations
5.2.1.2 Streamlined Integration of Renewable Energy Technologies
5.2.1.3 Reduced Unplanned Downtime and Maintenance Costs
5.2.2 Restraints
5.2.2.1 Deployment Challenge and System Complexity
5.2.2.2 Data Privacy and Security Concerns
5.2.3 Opportunities
5.2.3.1 Growing Impact of Machine Learning and Ai on Digital Twin Applications
5.2.3.2 Network Level Optimization
5.2.4 Challenges
5.2.4.1 Limited Support for Implementation From Stakeholders
5.2.4.2 Lack of Skilled Talent and Workforce
6 Electrical Digital Twin Market, By Twin Type (Page No. – 36)
6.1 Introduction
6.2 Digital Gas & Steam Power Plant
6.2.1 Need to Reduce Fuel Consumption and Environmental Emissions is Driving the Market
6.3 Digital Grid
6.3.1 Ability to Integrate Greater Levels of Renewable Energy Resources is Driving the Market
6.4 Digital Wind Farm
6.4.1 Optimizing Operations and Improving the Performance of A Wind Turbine are Driving the Market
6.5 Digital Hydropower Plant
6.5.1 Improved Asset Life and Higher Operational Efficiency are Driving the Market
6.6 Distributed Energy Resources
6.6.1 Real-Time Optimization of Resources is Driving the Market
7 Electrical Digital Twin Market, By Application (Page No. – 44)
7.1 Introduction
7.2 Asset Performance Management
7.2.1 Rise in Need to Minimize Unplanned Outages on Assets is Expected to Drive the Asset Performance Management Segment
7.2.1.1 Equipment Health
7.2.1.2 Reliability Management
7.2.1.3 Maintenance Optimization
7.3 Business & Operations Optimization
7.3.1 Increase in Demand for Operational Excellence Across Power Utilities is Expected to Drive the Business & Operations Optimization Segment
7.3.1.1 Operational Flexibility
7.3.1.2 Outage Management
7.4 Digital Twin Aggregate
7.4.1 Continuous Monitoring of Power Plant Assets is Likely to Drive the Demand for Digital Twin Aggregate
8 Electrical Digital Twin Market, By Deployment Type (Page No. – 50)
8.1 Introduction
8.2 Cloud
8.2.1 Continuous Monitoring of Assets Through Cloud-Based Deployment is Driving the Market
8.3 On-Premises
8.3.1 Need for Increased Security is Driving the Market
9 Electrical Digital Twin Market, By End-User (Page No. – 54)
9.1 Introduction
9.2 Utilities
9.2.1 Growing Penetration of Digital Solutions is Expected to Drive the Utilities Segment
9.2.2 Federal Utilities
9.2.3 Independent Power Producers
9.3 Grid Infrastructure Operators
9.3.1 Rise in Need for Grid Digitalization is Expected to Drive the Grid Infrastructure Operators Segment
10 Electrical Digital Twin Market, By Region (Page No. – 58)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Investment in Digital Technologies and Need for Renewable Energy Integration are Driving the Market
10.2.2 Canada
10.2.2.1 Need for Better Outage Management and Reducing Cost of Operations are Driving the Market
10.2.3 Mexico
10.2.3.1 Investments in Renewable Energy Technologies and Need for Decarbonization are Expected to Drive the Market
10.3 Asia Pacific
10.3.1 China
10.3.1.1 Need for Smooth Grid Operations Due to Renewable Penetration and Electric Vehicles is Driving the Market
10.3.2 Japan
10.3.2.1 Need for Power Sector Optimization and Rising Cost of Power are Driving the Market
10.3.3 Australia
10.3.3.1 Grid Reliability and Energy Security are Driving the Market
10.3.4 Rest of Asia Pacific
10.3.4.1 Higher Renewable Penetration and Better Forecasting Needs are Driving the Market
10.4 Europe
10.4.1 Germany
10.4.1.1 Need to Incorporate Higher Renewable Penetration and Ensuring Stable Grid Operations are Driving the Market
10.4.2 UK
10.4.2.1 Integration Challenge of Renewables and Need to Reduce Volatile Energy Prices are Driving the Market
10.4.3 France
10.4.3.1 Grid Reliability and Increasing Shift Toward Renewable Energy are Driving the Market
10.4.4 The Nordic Countries
10.4.4.1 Need for Stable Interconnected Grid is Driving the Market
10.4.5 Rest of Europe
10.4.5.1 Need for Sustainable Energy and Grid Operations are Driving the Market
10.5 South America
10.5.1 Brazil
10.5.1.1 Increase in Electricity Consumption and Investments in Power Generation Sources are Driving the Market
10.5.2 Argentina
10.5.2.1 Focus on Reconstructing the Electricity Market is Driving the Market
10.5.3 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.1.1 Integrating Renewables to the Grid is Driving the Market
10.6.2 UAE
10.6.2.1 Increasing Investments in Renewable Energy are Likely to Drive the Market
10.6.3 South Africa
10.6.3.1 Rise in Demand for Asset Management is Expected to Drive the Market
10.6.4 Rest of Middle East & Africa
11 Competitive Landscape (Page No. – 91)
11.1 Introduction
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic
11.2.4 Emerging
11.3 Market Share Analysis
11.4 Competitive Scenario
11.4.1 New Product Developments
11.4.2 Mergers & Acquisitions
11.4.3 Contracts & Agreements
11.4.4 Expansions & Investments
11.4.5 Others
12 Company Profile (Page No. – 98)
(Business Overview, Products Offered, Recent Developments, and MnM View)*
12.1 ABB
12.2 AVEVA
12.3 Emerson
12.4 Etteplan
12.5 GE
12.6 Siemens
12.7 Wipro
12.8 SAS Institute
12.9 Acpd Services
12.10 Microsoft
12.11 IBM
12.12 Fujitsu
*Details on Business Overview, Products Offered, Recent Developments, and MnM View Might Not Be Captured in Case of Unlisted Companies
13 Appendix (Page No. – 124)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
Table 1 Investment in Digital Twin Technologies and Projects is the Major Determining Factor for the Electrical Digital Twin Market
Table 2 Market Snapshot
Table 3 Market Size, By Twin Type,2017–2024 (USD Million)
Table 4 Digital Gas & Steam Power Plant: Market Size, By Region, 2017–2024 (USD Million)
Table 5 Digital Grid: Market Size, By Region, 2017–2024 (USD Million)
Table 6 Digital Wind Farm: Market Size, By Region, 2017–2024 (USD Million)
Table 7 Digital Hydropower Plant: Market Size,By Region, 2017–2024 (USD Million)
Table 8 Distributed Energy Resources: Market Size, By Region, 2017–2024 (USD Million)
Table 9 Electrical Digital Twin Market Size, By Application, 2017–2024 (USD Million)
Table 10 Asset Performance Management: Market Size, By Region, 2017–2024 (USD Million)
Table 11 Business & Operations Optimization: Market Size, By Region, 2017–2024 (USD Million)
Table 12 Digital Twin Aggregate: Market Size, By Region, 2017–2024 (USD Million)
Table 13 Market Size, By Deployment Type,2017–2024 (USD Million)
Table 14 Cloud: Market Size, By Region, 2017–2024 (USD Million)
Table 15 On-Premises: Market Size, By Region, 2017–2024 (USD Million)
Table 16 Market Size, By End-User, 2017–2024 (USD Million)
Table 17 Utilities: Market Size, By Region, 2017–2024 (USD Million)
Table 18 Grid Infrastructure Operators: Market Size, By Region, 2017–2024 (USD Million)
Table 19 Market Size, By Region, 2017–2024 (USD Million)
Table 20 North America: Electrical Digital Twin Market Size, By Twin Type, 2017–2024 (USD Million)
Table 21 North America: Market Size, By Application, 2017–2024 (USD Million)
Table 22 North America: Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 23 North America: Market Size, By End-User, 2017–2024 (USD Million)
Table 24 North America: Market Size, By Country, 2017–2024 (USD Million)
Table 25 US: Market Size, By End-User, 2017–2024 (USD Million)
Table 26 Canada: Market Size, By End-User, 2017–2024 (USD Million)
Table 27 Mexico: Market Size, By End-User, 2017–2024 (USD Million)
Table 28 Asia Pacific: Electrical Digital Twin Market Size, By Twin Type, 2017–2024 (USD Million)
Table 29 Asia Pacific: Market Size, By Application, 2017–2024 (USD Million)
Table 30 Asia Pacific: Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 31 Asia Pacific: Market Size, By End-User, 2017–2024 (USD Million)
Table 32 Asia Pacific: Market Size, By Country, 2017–2024 (USD Million)
Table 33 China: Market Size, By End-User, 2017–2024 (USD Million)
Table 34 Japan: Market Size, By End-User, 2017–2024 (USD Million)
Table 35 Australia: Market Size, By End-User,2017–2024 (USD Million)
Table 36 Rest of Asia Pacific: Market Size, By End-User, 2017–2024 (USD Million)
Table 37 Europe: Electrical Digital Twin Market Size, By Twin Type,2017–2024 (USD Million)
Table 38 Europe: Market Size, By Application, 2017–2024 (USD Million)
Table 39 Europe: Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 40 Europe: Market Size, By End-User, 2017–2024 (USD Million)
Table 41 Europe: Market Size, By Country, 2017–2024 (USD Million)
Table 42 Germany: Market Size, By End-User, 2017–2024 (USD Million)
Table 43 UK: Market Size, By End-User, 2017–2024 (USD Million)
Table 44 France: Market Size, By End-User, 2017–2024 (USD Million)
Table 45 The Nordic Countries: Market Size, By End-User, 2017–2024 (USD Million)
Table 46 Rest of Europe: Market Size, By End-User, 2017–2024 (USD Million)
Table 47 South America: Electrical Digital Twin Market Size, By Twin Type, 2017–2024 (USD Million)
Table 48 South America: Market Size, By Application, 2017–2024 (USD Million)
Table 49 South America: Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 50 South America: Market Size, By End-User, 2017–2024 (USD Million)
Table 51 South America: Market Size, By Country, 2017–2024 (USD Million)
Table 52 Brazil: Market Size, By End-User, 2017–2024 (USD Million)
Table 53 Argentina: Market Size, By End-User,2017–2024 (USD Million)
Table 54 Rest of South America: Market Size, By End-User, 2017–2024 (USD Million)
Table 55 Middle East & Africa: Electrical Digital Twin Market Size, By Twin Type, 2017–2024 (USD Million)
Table 56 Middle East & Africa: Market Size, By Application, 2017–2024 (USD Million)
Table 57 Middle East & Africa: Market Size,By Deployment Type, 2017–2024 (USD Million)
Table 58 Middle East & Africa: Market Size, By End-User, 2017–2024 (USD Million)
Table 59 Middle East & Africa: Market Size, By Country, 2017–2024 (USD Million)
Table 60 Saudi Arabia: Market Size, By End-User, 2017–2024 (USD Million)
Table 61 UAE: Market Size, By End-User, 2017–2024 (USD Million)
Table 62 South Africa: Electrical Digital Twin Market Size, By End-User, 2017–2024 (USD Million)
Table 63 Rest of Middle East & Africa: Market Size, By End-User, 2017–2024 (USD Million)
List of Figures (37 Figures)
Figure 1 North America Dominated the Market,By Region, in 2018
Figure 2 Digital Gas & Steam Power Plant Segment is Expected to Hold the Largest Share of the Electrical Digital Twin Market,By Twin Type, During the Forecast Period
Figure 3 Asset Performance Management Segment is Expected to Lead the Market, By Application, During the Forecast Period
Figure 4 On-Premises Segment is Expected to Lead the Market, By Deployment Type, During the Forecast Period
Figure 5 Utilities Segment is Expected to Lead the Electrical Digital Twin Market, By End-User, During the Forecast Period
Figure 6 Improved Accuracy and Efficiency in Power Sector Operations is Driving the Electrical Digital Twin Market
Figure 7 On-Premises Segment is Expected to Dominate the Market, By Deployment Type, During the Forecast Period
Figure 8 Digital Gas & Steam Power Plant Segment is Expected to Dominate the Electrical Digital Twin Market, By Twin Type, During the ForecastPeriod 28
Figure 9 Asset Performance Management and the Us Dominated the North American Market in 2018
Figure 10 Utilities Segment is Expected to Dominate the Electrical Digital Twin Market, By End-User, During the Forecast Period
Figure 11 North American Electrical Digital Twin Market is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 13 Drivers, Restraints, Opportunities, and Challenges
Figure 14 Global Renewable Energy Share in the Generation Mix, 2016–2023
Figure 15 Renewable Energy Consumption, By Technology, 2017–2023
Figure 16 Market, By Twin Type, 2019–2024 (USD Million)
Figure 17 Renewable Energy Capacity Addition, By Technology, 2015–2018 (In Gw)
Figure 18 Asset Performance Management Segment LED the Market, By Application, in 2018
Figure 19 On-Premises Segment LED the Market, By Deployment Type, in 2018
Figure 20 Utilities Segment LED the Market, By End-User, in 2018 (USD Million)
Figure 21 Regional Snapshot: the North American Market is Expected to Grow at the Highest Cagr During the Forecast Period
Figure 22 Market Share (Value), By Region, 2018
Figure 23 North America: Regional Snapshot
Figure 24 Europe: Regional Snapshot
Figure 25 Key Developments in the Electrical Digital Twin Market, November 2016–April 2019
Figure 26 Electrical Digital Twin (Global) Competitive Leadership Mapping, 2018
Figure 27 Ranking of Key Players, 2018
Figure 28 ABB: Company Snapshot
Figure 29 AVEVA: Company Snapshot
Figure 30 Emerson: Company Snapshot
Figure 31 Etteplan: Company Snapshot
Figure 32 GE: Company Snapshot
Figure 33 Siemens: Company Snapshot
Figure 34 Wipro: Company Snapshot
Figure 35 Microsoft: Company Snapshot
Figure 36 IBM: Company Snapshot
Figure 37 Fujitsu: Company Snapshot