Electrical digital twin is a near-real-time digital image about the historical and current behavior of a physical object or process that helps optimize business performance.
Digital twins exist at the nexus of physical engineering, data science, and machine learning, and their value translates directly to measurable business outcomes—reduced asset downtime and maintenance costs, improved plant and factory efficiency, reduced cycle times, and increased market agility.
Highlights
The global Electrical Digital Twin market was valued at US$ 4664.3 million in 2022 and is anticipated to reach US$ 13510 million by 2029, witnessing a CAGR of 19.4% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The industry's leading producers are General Electric, PTC and Siemens, with revenues of 31.51%, 9.26% and 26.46% respectively in 2019.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Electrical Digital Twin, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electrical Digital Twin.
The Electrical Digital Twin market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Electrical Digital Twin market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Electrical Digital Twin companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
By Company
General Electric
PTC
Siemens
Dassault Systemes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
Segment by Type
Parts Twin
Product Twin
Process Twin
System Twin
Segment by Application
Aerospace and Defense
Automotive and Transportation
Machine Manufacturing
Energy and Utilities
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Core Chapters
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Electrical Digital Twin companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the key companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Report Overview
1.1 Study Scope
1.2 Âé¶¹Ô´´ Analysis by Type
1.2.1 Global Electrical Digital Twin Âé¶¹Ô´´ Size Growth Rate by Type: 2018 VS 2022 VS 2029
1.2.2 Parts Twin
1.2.3 Product Twin
1.2.4 Process Twin
1.2.5 System Twin
1.3 Âé¶¹Ô´´ by Application
1.3.1 Global Electrical Digital Twin Âé¶¹Ô´´ Growth by Application: 2018 VS 2022 VS 2029
1.3.2 Aerospace and Defense
1.3.3 Automotive and Transportation
1.3.4 Machine Manufacturing
1.3.5 Energy and Utilities
1.3.6 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Electrical Digital Twin Âé¶¹Ô´´ Perspective (2018-2029)
2.2 Electrical Digital Twin Growth Trends by Region
2.2.1 Global Electrical Digital Twin Âé¶¹Ô´´ Size by Region: 2018 VS 2022 VS 2029
2.2.2 Electrical Digital Twin Historic Âé¶¹Ô´´ Size by Region (2018-2023)
2.2.3 Electrical Digital Twin Forecasted Âé¶¹Ô´´ Size by Region (2024-2029)
2.3 Electrical Digital Twin Âé¶¹Ô´´ Dynamics
2.3.1 Electrical Digital Twin Industry Trends
2.3.2 Electrical Digital Twin Âé¶¹Ô´´ Drivers
2.3.3 Electrical Digital Twin Âé¶¹Ô´´ Challenges
2.3.4 Electrical Digital Twin Âé¶¹Ô´´ Restraints
3 Competition Landscape by Key Players
3.1 Global Top Electrical Digital Twin Players by Revenue
3.1.1 Global Top Electrical Digital Twin Players by Revenue (2018-2023)
3.1.2 Global Electrical Digital Twin Revenue Âé¶¹Ô´´ Share by Players (2018-2023)
3.2 Global Electrical Digital Twin Âé¶¹Ô´´ Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Electrical Digital Twin Revenue
3.4 Global Electrical Digital Twin Âé¶¹Ô´´ Concentration Ratio
3.4.1 Global Electrical Digital Twin Âé¶¹Ô´´ Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Electrical Digital Twin Revenue in 2022
3.5 Electrical Digital Twin Key Players Head office and Area Served
3.6 Key Players Electrical Digital Twin Product Solution and Service
3.7 Date of Enter into Electrical Digital Twin Âé¶¹Ô´´
3.8 Mergers & Acquisitions, Expansion Plans
4 Electrical Digital Twin Breakdown Data by Type
4.1 Global Electrical Digital Twin Historic Âé¶¹Ô´´ Size by Type (2018-2023)
4.2 Global Electrical Digital Twin Forecasted Âé¶¹Ô´´ Size by Type (2024-2029)
5 Electrical Digital Twin Breakdown Data by Application
5.1 Global Electrical Digital Twin Historic Âé¶¹Ô´´ Size by Application (2018-2023)
5.2 Global Electrical Digital Twin Forecasted Âé¶¹Ô´´ Size by Application (2024-2029)
6 North America
6.1 North America Electrical Digital Twin Âé¶¹Ô´´ Size (2018-2029)
6.2 North America Electrical Digital Twin Âé¶¹Ô´´ Growth Rate by Country: 2018 VS 2022 VS 2029
6.3 North America Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2018-2023)
6.4 North America Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2024-2029)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Electrical Digital Twin Âé¶¹Ô´´ Size (2018-2029)
7.2 Europe Electrical Digital Twin Âé¶¹Ô´´ Growth Rate by Country: 2018 VS 2022 VS 2029
7.3 Europe Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2018-2023)
7.4 Europe Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2024-2029)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Electrical Digital Twin Âé¶¹Ô´´ Size (2018-2029)
8.2 Asia-Pacific Electrical Digital Twin Âé¶¹Ô´´ Growth Rate by Region: 2018 VS 2022 VS 2029
8.3 Asia-Pacific Electrical Digital Twin Âé¶¹Ô´´ Size by Region (2018-2023)
8.4 Asia-Pacific Electrical Digital Twin Âé¶¹Ô´´ Size by Region (2024-2029)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Electrical Digital Twin Âé¶¹Ô´´ Size (2018-2029)
9.2 Latin America Electrical Digital Twin Âé¶¹Ô´´ Growth Rate by Country: 2018 VS 2022 VS 2029
9.3 Latin America Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2018-2023)
9.4 Latin America Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2024-2029)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Electrical Digital Twin Âé¶¹Ô´´ Size (2018-2029)
10.2 Middle East & Africa Electrical Digital Twin Âé¶¹Ô´´ Growth Rate by Country: 2018 VS 2022 VS 2029
10.3 Middle East & Africa Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2018-2023)
10.4 Middle East & Africa Electrical Digital Twin Âé¶¹Ô´´ Size by Country (2024-2029)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 General Electric
11.1.1 General Electric Company Detail
11.1.2 General Electric Business Overview
11.1.3 General Electric Electrical Digital Twin Introduction
11.1.4 General Electric Revenue in Electrical Digital Twin Business (2018-2023)
11.1.5 General Electric Recent Development
11.2 PTC
11.2.1 PTC Company Detail
11.2.2 PTC Business Overview
11.2.3 PTC Electrical Digital Twin Introduction
11.2.4 PTC Revenue in Electrical Digital Twin Business (2018-2023)
11.2.5 PTC Recent Development
11.3 Siemens
11.3.1 Siemens Company Detail
11.3.2 Siemens Business Overview
11.3.3 Siemens Electrical Digital Twin Introduction
11.3.4 Siemens Revenue in Electrical Digital Twin Business (2018-2023)
11.3.5 Siemens Recent Development
11.4 Dassault Systemes
11.4.1 Dassault Systemes Company Detail
11.4.2 Dassault Systemes Business Overview
11.4.3 Dassault Systemes Electrical Digital Twin Introduction
11.4.4 Dassault Systemes Revenue in Electrical Digital Twin Business (2018-2023)
11.4.5 Dassault Systemes Recent Development
11.5 IBM Corporation
11.5.1 IBM Corporation Company Detail
11.5.2 IBM Corporation Business Overview
11.5.3 IBM Corporation Electrical Digital Twin Introduction
11.5.4 IBM Corporation Revenue in Electrical Digital Twin Business (2018-2023)
11.5.5 IBM Corporation Recent Development
11.6 ANSYS
11.6.1 ANSYS Company Detail
11.6.2 ANSYS Business Overview
11.6.3 ANSYS Electrical Digital Twin Introduction
11.6.4 ANSYS Revenue in Electrical Digital Twin Business (2018-2023)
11.6.5 ANSYS Recent Development
11.7 Microsoft Corporation
11.7.1 Microsoft Corporation Company Detail
11.7.2 Microsoft Corporation Business Overview
11.7.3 Microsoft Corporation Electrical Digital Twin Introduction
11.7.4 Microsoft Corporation Revenue in Electrical Digital Twin Business (2018-2023)
11.7.5 Microsoft Corporation Recent Development
11.8 Oracle Corporation
11.8.1 Oracle Corporation Company Detail
11.8.2 Oracle Corporation Business Overview
11.8.3 Oracle Corporation Electrical Digital Twin Introduction
11.8.4 Oracle Corporation Revenue in Electrical Digital Twin Business (2018-2023)
11.8.5 Oracle Corporation Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
General Electric
PTC
Siemens
Dassault Systemes
IBM Corporation
ANSYS
Microsoft Corporation
Oracle Corporation
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*If Applicable.