Market Overview:
The global energy and utilities electrical digital twin software market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy and utilities across the globe, coupled with the need for modernization of aging infrastructure. In addition, growing concerns about climate change are also driving investments in renewable energy sources, which is further propelling the growth of this market. Based on type, the global energy and utilities electrical digital twin software market can be segmented into system twins, process twins, product twins, and parts twins. The system twin segment is expected to account for a major share of this market in 2018 owing to its ability to provide an overall view of an entire system or plant. By application, gas & steam power plants are expected to account for a major share of this market in 2018 followed by wind farms and digital grids.
Product Definition:
Energy and Utilities Electrical Digital Twin Software is used to help monitor, manage, and optimize energy consumption and distribution across an organization's energy network. By creating a digital twin of the network, administrators can identify issues and opportunities for improvement in near-real time. This allows for more efficient use of resources, as well as quicker identification and resolution of any problems that may arise.
System Twin:
The System Twin is a mirror image of the real-time system, which is created by copying all the data and information of an energy or utility company. The purpose of creating a system twin is to analyze and monitor all the operations, processes, systems and functions in real-time so that any potential fault can be detected as early as possible.
Process Twin:
Process twin is a method to monitor and control processes in real-time. It creates an exact duplicate of the production process with all the machines, resources, materials and people involved in it. The main objective of creating a process twin is to eliminate variation in products or services provided by ensuring that every aspect of the business operates at maximum efficiency.
Application Insights:
The gas & steam power plant application segment led the global energy and utilities electrical digital twin software market in 2017. The growth can be attributed to the increasing need for monitoring and controlling various processes at a power plant, such as turbine speed, boiler temperature, air flow rates into turbines, etc. Furthermore, with an increase in demand for electricity from data centers along with rising concerns over reliability and safety of operations at a power plant; there is an increased need to enhance operational efficiency across all stages of energy production & consumption.
Digital grid software helps utilities optimize their infrastructure by providing real-time information on grid conditions that includes voltage levels across all utility poles throughout the country or region. This improves communication between users which eventually leads to improved infrastructure performance overall while reducing operating costs significantly.
Regional Analysis:
North America accounted for the largest market share in 2017. The region is expected to maintain its lead over the forecast period owing to early adoption of energy and utility industry 4.0, advanced infrastructure, and growing demand for electricity across various industries in U.S., Canada, and Mexico.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for energy efficient and reliable electrical systems
- Rising need for predictive maintenance and fault detection in electrical systems
- Growing popularity of digital twins for data-driven decision making
- Proliferation of Internet of Things (IoT) and big data analytics technologies
- Emergence of new business models such as pay-as-you-go
Scope Of The Report
Report Attributes
Report Details
Report Title
Energy and Utilities Electrical Digital Twin Software Market Research Report
By Type
System Twin, Process Twin, Product Twin, Parts Twin
By Application
Gas & Steam Power Plant, Wind Farm, Digital Grid, Hydropower Plant, Others
By Companies
General Electric, PTC, Siemens, Dassault Systèmes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation, Bentley Systems，Incorporated, Emerson
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Energy and Utilities Electrical Digital Twin Software Market Report Segments:
The global Energy and Utilities Electrical Digital Twin Software market is segmented on the basis of:
Types
System Twin, Process Twin, Product Twin, Parts Twin
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Gas & Steam Power Plant, Wind Farm, Digital Grid, Hydropower Plant, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- General Electric
- PTC
- Siemens
- Dassault Systèmes
- IBM Corporation
- ANSYS
- Microsoft Corporation
- Oracle Corporation
- Bentley Systems，Incorporated
- Emerson
Highlights of The Energy and Utilities Electrical Digital Twin Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- System Twin
- Process Twin
- Product Twin
- Parts Twin
- By Application:
- Gas & Steam Power Plant
- Wind Farm
- Digital Grid
- Hydropower Plant
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Energy and Utilities Electrical Digital Twin Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Energy and Utilities Electrical Digital Twin Software is a software that helps utilities, energy companies, and other organizations to digitally replicate their physical infrastructure. It allows for the simulation of electrical systems, power grids, and other components in order to improve efficiency and predict future needs.
Some of the major players in the energy and utilities electrical digital twin software market are General Electric, PTC, Siemens, Dassault Syst¨mes, IBM Corporation, ANSYS, Microsoft Corporation, Oracle Corporation, Bentley Systems，Incorporated, Emerson.
The energy and utilities electrical digital twin software market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Energy and Utilities Electrical Digital Twin Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Energy and Utilities Electrical Digital Twin Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Energy and Utilities Electrical Digital Twin Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Energy and Utilities Electrical Digital Twin Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Energy and Utilities Electrical Digital Twin Software Market Size & Forecast, 2018-2028
4.5.1 Energy and Utilities Electrical Digital Twin Software Market Size and Y-o-Y Growth
4.5.2 Energy and Utilities Electrical Digital Twin Software Market Absolute $ Opportunity
Chapter 5 Global Energy and Utilities Electrical Digital Twin Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Type
5.2.1 System Twin
5.2.2 Process Twin
5.2.3 Product Twin
5.2.4 Parts Twin
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Energy and Utilities Electrical Digital Twin Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Applications
6.2.1 Gas & Steam Power Plant
6.2.2 Wind Farm
6.2.3 Digital Grid
6.2.4 Hydropower Plant
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Energy and Utilities Electrical Digital Twin Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Energy and Utilities Electrical Digital Twin Software Analysis and Forecast
9.1 Introduction
9.2 North America Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Type
9.6.1 System Twin
9.6.2 Process Twin
9.6.3 Product Twin
9.6.4 Parts Twin
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Applications
9.10.1 Gas & Steam Power Plant
9.10.2 Wind Farm
9.10.3 Digital Grid
9.10.4 Hydropower Plant
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Energy and Utilities Electrical Digital Twin Software Analysis and Forecast
10.1 Introduction
10.2 Europe Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Type
10.6.1 System Twin
10.6.2 Process Twin
10.6.3 Product Twin
10.6.4 Parts Twin
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Applications
10.10.1 Gas & Steam Power Plant
10.10.2 Wind Farm
10.10.3 Digital Grid
10.10.4 Hydropower Plant
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Energy and Utilities Electrical Digital Twin Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Type
11.6.1 System Twin
11.6.2 Process Twin
11.6.3 Product Twin
11.6.4 Parts Twin
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Applications
11.10.1 Gas & Steam Power Plant
11.10.2 Wind Farm
11.10.3 Digital Grid
11.10.4 Hydropower Plant
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Energy and Utilities Electrical Digital Twin Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Type
12.6.1 System Twin
12.6.2 Process Twin
12.6.3 Product Twin
12.6.4 Parts Twin
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Applications
12.10.1 Gas & Steam Power Plant
12.10.2 Wind Farm
12.10.3 Digital Grid
12.10.4 Hydropower Plant
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Energy and Utilities Electrical Digital Twin Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Type
13.6.1 System Twin
13.6.2 Process Twin
13.6.3 Product Twin
13.6.4 Parts Twin
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Energy and Utilities Electrical Digital Twin Software Market Size Forecast by Applications
13.10.1 Gas & Steam Power Plant
13.10.2 Wind Farm
13.10.3 Digital Grid
13.10.4 Hydropower Plant
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Energy and Utilities Electrical Digital Twin Software Market: Competitive Dashboard
14.2 Global Energy and Utilities Electrical Digital Twin Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 General Electric
14.3.2 PTC
14.3.3 Siemens
14.3.4 Dassault Systèmes
14.3.5 IBM Corporation
14.3.6 ANSYS
14.3.7 Microsoft Corporation
14.3.8 Oracle Corporation
14.3.9 Bentley Systems，Incorporated
14.3.10 Emerson
