Electrical Digital Twin Market – Global Industry Analysis and Forecast (2023-2029)

Electrical Digital Twin Market was valued US$ 1462.1 Mn in 2022 and is expected to reach 4165.2 Mn by 2029, at a CAGR of 16.13 % during a forecast period.
Global Electrical Digital Twin Market: Overview

The digital twin concept is increasing the digital profile of a technique or a physical product speaking to its utilitarian and behavioral qualities utilized for better performance. The innovation has sanctioned rise in the genuine and the simulated world through constant digital interpretations of physical products which reach out to each phase of the product improvement lifecycle. Increase in asset performance management, boost the market share during the forecast period owing to power utilities are constantly focusing on asset management. The growing impact of machine learning and AI on digital twin application is the major opportunities in the electrical digital twin market. North America is projected to have the largest electrical digital twin market because of the strong presence of electrical digital twin vendors in the region.