Press Release

Electrical Digital Twin Market to Grow with a CAGR of 9.19% through 2028

Increasing demand for energy efficiency and rising growth of renewable energy sources are likely to drive the Market in the forecast period.


According to TechSci Research report, “Electrical Digital Twin Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Electrical Digital Twin Market is experiencing a surge in demand in the forecast period. One of the primary drivers of the global electrical digital twin market is the ongoing transformation driven by Industry 4.0 principles. Industry 4.0 represents the fourth industrial revolution, characterized by the convergence of digital technologies, data analytics, the Internet of Things (IoT), and automation. In this context, electrical digital twins play a pivotal role in reshaping manufacturing and industrial processes. Organizations are increasingly adopting electrical digital twins to create virtual replicas of their electrical systems. These digital twins enable real-time monitoring, analysis, and optimization of electrical infrastructure. They provide a comprehensive view of electrical assets, from power distribution networks to individual components, fostering predictive maintenance, reducing downtime, and enhancing operational efficiency. As businesses across various sectors strive to stay competitive and agile in the digital age, the integration of electrical digital twins is crucial. It empowers them to make data-driven decisions, streamline operations, and adapt quickly to changing market demands. Consequently, the Industry 4.0 transformation fuels the demand for electrical digital twins, positioning them as a key driver in the global market's continued growth.

The global push for energy efficiency is another significant driver propelling the electrical digital twin market forward. As concerns about environmental sustainability and energy costs intensify, organizations are seeking ways to optimize their electrical systems. Electrical digital twins provide a solution by offering a detailed, real-time view of energy consumption and distribution. By modeling electrical systems digitally, companies can identify inefficiencies and implement strategies to reduce energy waste. They can simulate various scenarios to optimize energy usage, minimize losses, and enhance the performance of electrical assets. This approach not only leads to cost savings but also aligns with global efforts to reduce carbon emissions and combat climate change. Government regulations and initiatives aimed at promoting energy efficiency further bolster the adoption of electrical digital twins. Organizations are incentivized to adopt these technologies to meet energy efficiency targets and reduce their carbon footprint. As energy efficiency remains a top priority in the global agenda, the demand for electrical digital twins is set to continue its upward trajectory, making them a key driver in the evolving energy landscape.


Browse over XX Market data Figures spread through XX Pages and an in-depth TOC on "Global Electrical Digital Twin Market.” 


The Global Electrical Digital Twin Market is segmented into type, application, end user and region.

Based on type, The System Digital Twin segment held the largest Market share in 2022. System Digital Twins provide a holistic representation of entire electrical systems, which can encompass various components, assets, and interconnected networks. This comprehensive view allows organizations to manage and optimize complex electrical infrastructures efficiently. In many industries, electrical systems are interconnected with mechanical, software, and control systems. System Digital Twins have the capacity to integrate these various components, offering a more complete understanding of how different elements interact within an electrical ecosystem. System Digital Twins empower organizations with data-driven insights that can support decision-making processes. By simulating scenarios and analyzing system behaviors in real-time, businesses can make informed choices to improve efficiency, reduce downtime, and enhance performance. System Digital Twins enable predictive maintenance by monitoring the health and performance of electrical systems. This proactive approach can prevent costly equipment failures, reduce maintenance costs, and extend the lifespan of assets. System Digital Twins have applications across multiple industries, including energy, manufacturing, utilities, and smart cities. Their versatility makes them appealing to a wide range of organizations looking to optimize their electrical infrastructure In industries where regulatory compliance is critical, such as healthcare and utilities, System Digital Twins provide a means to ensure that electrical systems meet safety and performance standards. This capability is essential for businesses operating in highly regulated environments. As organizations expand and their electrical systems grow in complexity, System Digital Twins can scale accordingly. They can adapt to changes in infrastructure size and configuration, making them suitable for both small-scale and large-scale operations.

Based on application, The Asset Performance Management segment held the largest Market share in 2022. Asset Performance Management, when integrated with electrical digital twins, allows organizations to optimize the maintenance of their electrical assets. This includes predictive maintenance, where digital twins can forecast when equipment may fail, reducing downtime and costs associated with unplanned maintenance.  APM focuses on enhancing the reliability of assets by continuously monitoring their performance. Digital twins provide real-time data and insights, allowing organizations to identify and address potential issues before they lead to asset failures or performance degradation. By optimizing asset performance and maintenance schedules, organizations can achieve cost savings. APM-driven by electrical digital twins helps reduce maintenance costs, energy consumption, and the need for emergency repairs. Ensuring the reliability of electrical assets is crucial for safety, especially in industries where electrical failures can lead to hazardous situations. APM supported by digital twins helps maintain the integrity of electrical systems, reducing safety risks. Many industries have strict regulatory requirements related to asset management and maintenance. APM applications can help organizations meet these compliance standards by providing detailed records of asset performance and maintenance activities. Electrical assets often play a significant role in energy consumption. APM applications can leverage digital twins to optimize the efficiency of these assets, leading to reduced energy consumption and lower operational costs. APM applications powered by digital twins provide a wealth of data and insights. This data can support informed decision-making at all levels of an organization, from maintenance technicians to top-level executives.


Major companies operating in the Global Electrical Digital Twin Market are:

  • General Electric Company
  • Siemens AG
  • ABB Ltd
  • Schneider Electric Company
  • Microsoft Corp.
  • International Business Machines Corporation
  • Oracle Corporation
  • PTC Inc
  • Software AG
  • Bentley Systems, Incorporated


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“The Global Electrical Digital Twin Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The growth of the electrical digital twin market is being driven by a number of factors, including the increasing adoption of digital technologies in the electrical sector, the growing need for improved asset management and efficiency, and the rising demand for renewable energy integration. The North American region is expected to account for the largest share of the global electrical digital twin market in the upcoming years. This is due to the early adoption of digital technologies in the electrical sector in this region. However, the Asia Pacific region is expected to grow at the fastest CAGR during the forecast period, due to the increasing investment in renewable energy and smart grid projects in this region. Therefore, the Market of Electrical Digital Twin is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Electrical Digital Twin Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Product Digital Twin, Process Digital Twin, System Digital Twin), By Application (Asset Performance Management, Business & Operations Optimization), By End User (Utilities, Grid Infrastructure Operators), By Region, By Competition”, evaluated the future growth potential of Global Electrical Digital Twin Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Electrical Digital Twin Market.



Mr. Ken Mathews

Techsci Research LLC

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