#Digital Twin Market Trends

[marketanalysisdata]

Digital Twin Market Analysis by Application 2030

In 2023, the global digital twin market was valued at USD 16.75 billion and is anticipated to expand at a compound annual growth rate (CAGR) of 35.7% from 2024 to 2030. Digital twin technology, which creates virtual replicas of physical systems, is gaining popularity as it bridges the gap between the digital and physical worlds. This technology's ability to streamline operations, optimize processes, and reduce time to market has made it particularly appealing to industries looking for cost-effective solutions. The rapid adoption of the Internet of Things (IoT) and big data analytics, coupled with innovations in virtual and augmented reality (VR and AR), are driving this growth.

Significant public and private investments in digital transformation solutions are opening up new opportunities for digital twin technology across the globe. Countries such as the United States, India, Australia, Brazil, Saudi Arabia, and South Africa are increasingly prioritizing digitization efforts, allocating funds towards digital transformation to bolster economic growth and increase efficiencies. This growing support is expected to accelerate the development and implementation of digital twins.

In addition, the rising demand for cloud-based digital applications is also propelling market growth. The affordability, flexibility, and easy accessibility of cloud-based solutions encourage companies to develop advanced cloud-native digital twin offerings. Integrating cloud computing with other emerging technologies like big data, artificial intelligence (AI), machine learning (ML), and IoT into digital twin solutions is expected to enhance the functionality of these solutions. Companies are increasingly adopting IoT and AI to gather and analyze data from connected devices. This data can then be used in digital twin models to simulate the performance and functioning of real devices, allowing engineers and designers to closely monitor operations, detect issues, and predict problems, thus improving reliability and performance.

Gather more insights about the market drivers, restrains and growth of the Digital Twin Market

The integration of AI, IoT, and ML further helps organizations improve productivity and operational efficiency. By adopting digital twin technology, companies can optimize supply chains, identify inefficiencies, and recover from financial losses. Growing demand for these solutions is pushing industry players to expand their offerings and geographical reach. For instance, in June 2023, Matterport, Inc. partnered with CompuSoluciones, a technology solutions distributor, to enhance the reach of its digital twin solutions in key Latin American markets, including Mexico and Colombia. This partnership allows CompuSoluciones to provide Matterport’s digital twin solutions and cameras to small and medium-sized enterprises (SMEs) in the region, helping them leverage digital twins to gain insights into product features, specifications, and usage.

Digital twin technology is becoming especially valuable in industries like manufacturing, automotive, aerospace, defense, retail, and consumer goods. For example, in defense, digital twin solutions support better communication and streamlined operations, contributing to a more robust IT infrastructure.

End-use Segmentation Insights:

In 2023, the automotive and transportation sector held the largest revenue share of approximately 21.0% in the digital twin market. This sector has embraced digital twins for their numerous advantages, such as cost optimization, enhanced safety, and increased productivity. Digital twins allow automotive manufacturers to make more informed decisions regarding the design, operation, and maintenance of vehicles, which leads to improved safety and efficiency. Real-time vehicle health monitoring using digital twin technology helps in predicting maintenance needs and planning accordingly, thus preventing potential breakdowns and minimizing downtime. This data-driven approach also benefits the supply chain by providing real-time insights, helping to streamline logistics and improve overall efficiency.

The telecommunications segment is expected to grow at a remarkable CAGR of 40.0% from 2024 to 2030. Digital twin technology offers telecom companies the ability to monitor network systems and predict issues before they arise, leading to lower maintenance costs and minimized network downtime. By using digital twins, telecom providers can also enhance customer satisfaction, increase operational efficiency, and optimize network design. Engineers, network managers, and service providers rely on digital twin models to improve decision-making in areas like network planning, resource allocation, and service delivery. Real-time data and insights provided by digital twins play a critical role in making the telecom network more resilient and adaptable to increasing demands, thereby enhancing customer experience and streamlining operations.

In summary, the digital twin market is set for significant growth as industries increasingly adopt this technology to achieve cost-efficiency, operational optimization, and enhanced decision-making. Fueled by advancements in AI, IoT, and cloud computing, digital twins are transforming sectors like automotive, telecommunications, and manufacturing, enabling them to meet the demands of a rapidly digitizing world. The increased support from governments and corporations worldwide further accelerates this trend, positioning digital twin technology as a cornerstone in modern digital transformation.

Order a free sample PDF of the Digital Twin Market Intelligence Study, published by Grand View Research.

[marketstudyreport]

Digital Twin Market 2030 Regional Outlook, Share, Type and Application, Trends

In 2023, the global digital twin market was valued at USD 16.75 billion and is anticipated to expand at a compound annual growth rate (CAGR) of 35.7% from 2024 to 2030. Digital twin technology, which creates virtual replicas of physical systems, is gaining popularity as it bridges the gap between the digital and physical worlds. This technology's ability to streamline operations, optimize processes, and reduce time to market has made it particularly appealing to industries looking for cost-effective solutions. The rapid adoption of the Internet of Things (IoT) and big data analytics, coupled with innovations in virtual and augmented reality (VR and AR), are driving this growth.

Significant public and private investments in digital transformation solutions are opening up new opportunities for digital twin technology across the globe. Countries such as the United States, India, Australia, Brazil, Saudi Arabia, and South Africa are increasingly prioritizing digitization efforts, allocating funds towards digital transformation to bolster economic growth and increase efficiencies. This growing support is expected to accelerate the development and implementation of digital twins.

In addition, the rising demand for cloud-based digital applications is also propelling market growth. The affordability, flexibility, and easy accessibility of cloud-based solutions encourage companies to develop advanced cloud-native digital twin offerings. Integrating cloud computing with other emerging technologies like big data, artificial intelligence (AI), machine learning (ML), and IoT into digital twin solutions is expected to enhance the functionality of these solutions. Companies are increasingly adopting IoT and AI to gather and analyze data from connected devices. This data can then be used in digital twin models to simulate the performance and functioning of real devices, allowing engineers and designers to closely monitor operations, detect issues, and predict problems, thus improving reliability and performance.

Gather more insights about the market drivers, restrains and growth of the Digital Twin Market

The integration of AI, IoT, and ML further helps organizations improve productivity and operational efficiency. By adopting digital twin technology, companies can optimize supply chains, identify inefficiencies, and recover from financial losses. Growing demand for these solutions is pushing industry players to expand their offerings and geographical reach. For instance, in June 2023, Matterport, Inc. partnered with CompuSoluciones, a technology solutions distributor, to enhance the reach of its digital twin solutions in key Latin American markets, including Mexico and Colombia. This partnership allows CompuSoluciones to provide Matterport’s digital twin solutions and cameras to small and medium-sized enterprises (SMEs) in the region, helping them leverage digital twins to gain insights into product features, specifications, and usage.

Digital twin technology is becoming especially valuable in industries like manufacturing, automotive, aerospace, defense, retail, and consumer goods. For example, in defense, digital twin solutions support better communication and streamlined operations, contributing to a more robust IT infrastructure.

End-use Segmentation Insights:

In 2023, the automotive and transportation sector held the largest revenue share of approximately 21.0% in the digital twin market. This sector has embraced digital twins for their numerous advantages, such as cost optimization, enhanced safety, and increased productivity. Digital twins allow automotive manufacturers to make more informed decisions regarding the design, operation, and maintenance of vehicles, which leads to improved safety and efficiency. Real-time vehicle health monitoring using digital twin technology helps in predicting maintenance needs and planning accordingly, thus preventing potential breakdowns and minimizing downtime. This data-driven approach also benefits the supply chain by providing real-time insights, helping to streamline logistics and improve overall efficiency.

The telecommunications segment is expected to grow at a remarkable CAGR of 40.0% from 2024 to 2030. Digital twin technology offers telecom companies the ability to monitor network systems and predict issues before they arise, leading to lower maintenance costs and minimized network downtime. By using digital twins, telecom providers can also enhance customer satisfaction, increase operational efficiency, and optimize network design. Engineers, network managers, and service providers rely on digital twin models to improve decision-making in areas like network planning, resource allocation, and service delivery. Real-time data and insights provided by digital twins play a critical role in making the telecom network more resilient and adaptable to increasing demands, thereby enhancing customer experience and streamlining operations.

In summary, the digital twin market is set for significant growth as industries increasingly adopt this technology to achieve cost-efficiency, operational optimization, and enhanced decision-making. Fueled by advancements in AI, IoT, and cloud computing, digital twins are transforming sectors like automotive, telecommunications, and manufacturing, enabling them to meet the demands of a rapidly digitizing world. The increased support from governments and corporations worldwide further accelerates this trend, positioning digital twin technology as a cornerstone in modern digital transformation.

Order a free sample PDF of the Digital Twin Market Intelligence Study, published by Grand View Research.

[businessindustry]

Digital Twin Market Insights and Trends, Forecasts to 2032

The Reports and Insights, a leading market research company, has recently releases report titled “Digital Twin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Digital Twin Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Digital Twin Market?

The global digital twin market size reached US$ 9.7 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 93.9 billion in 2032, exhibiting a growth rate (CAGR) 28.7% of during 2024-2032.

What are Digital Twin?                                                                                                                                                                            

A digital twin is a virtual model that replicates a physical entity, system, or process, utilizing real-time data and simulations to facilitate understanding, analysis, and optimization of its real-world counterpart. Industries like manufacturing, healthcare, and transportation use digital twins to monitor performance, predict maintenance requirements, and enhance overall efficiency.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/2273

What are the growth prospects and trends in the Digital Twin industry?

The digital twin market growth is driven by various factors. The digital twin market is rapidly expanding due to the widespread integration of IoT and AI technologies in sectors like manufacturing, healthcare, and automotive. These technologies allow companies to enhance operational efficiency, minimize downtime, and boost product performance by creating virtual replicas of physical assets and processes. The market growth is further propelled by the rising demand for predictive maintenance solutions and the necessity for real-time monitoring and optimization. However, challenges related to data security and privacy, along with the complexities of integrating digital twin technologies, are important factors influencing market growth. Hence, all these factors contribute to digital twin market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

North America

United States

Canada

Europe

Germany

United Kingdom

France

Italy

Spain

Russia

Poland

Benelux

Nordic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America

Brazil

Mexico

Argentina

Middle East & Africa

Saudi Arabia

South Africa

United Arab Emirates

Israel

Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

Siemens AG

General Electric (GE)

PTC Inc.

IBM Corporation

ANSYS, Inc.

Dassault Systèmes

Bentley Systems, Incorporated

Microsoft Corporation

Oracle Corporation

Schneider Electric SE

View Full Report: https://www.reportsandinsights.com/report/Digital Twin-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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[mitalipingale]

The Digital Twin Market in 2023 is US$ 10.1 billion, and is expected to reach US$ 467.88 billion by 2031 at a CAGR of 61.5%.

[delicatemagazinedreamer]

Digital Twin Market to Witness High Growth Owing to Increasing Adoption of IoT and AI Technologies

 The global Digital Twin Market is estimated to be valued at US$ 8.60 billion in 2023 and is expected to exhibit a CAGR of 42.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Digital twin is a virtual representation of a physical object or system that enables the analysis and optimization of its performance. It captures real-time data from sensors and uses advanced analytics and artificial intelligence (AI) algorithms to simulate the behavior and predict future outcomes. Digital twins find applications in various industries, including manufacturing, healthcare, smart cities, transportation, and agriculture, among others.

B) Market Dynamics:

The digital twin market is primarily driven by the increasing adoption of Internet of Things (IoT) and AI technologies. The integration of IoT with digital twins allows the collection of data from sensors embedded in physical objects, enhancing operational efficiency and enabling predictive maintenance. AI algorithms analyze this data to provide insights and optimize processes, leading to cost savings and improved performance.

Another driver for the market is the rising demand for remote monitoring and simulation capabilities. Digital twins enable businesses to remotely monitor and control their assets, reducing downtime and maximizing productivity. They also facilitate simulation and testing of new products or processes before implementation, reducing time-to-market and minimizing risks.

C) Market Key Trends:

One key trend in the Digital Twin Market is the use of digital twins in the healthcare industry. Medical professionals can create virtual models of patients based on their individual characteristics and medical history. These digital twins can be used to simulate disease progression, predict treatment outcomes, and plan personalized interventions. For example, surgeons can use digital twins to practice complex procedures before performing them on actual patients, improving surgical precision and patient outcomes.

D) SWOT Analysis:

Strengths:

1. Real-time data monitoring

2. Improved operational efficiency

Weaknesses:

1. High implementation costs

2. Limited awareness and understanding of the technology

Opportunities:

1. Integration of digital twins with blockchain for enhanced security

2. Rising adoption of digital twins in small and medium-sized enterprises (SMEs)

Threats:

1. Privacy and data security concerns

2. Lack of interoperability among different digital twin platforms

E) Key Takeaways:

- The global digital twin market is expected to witness high growth, exhibiting a CAGR of 42.6% over the forecast period. The increasing adoption of IoT and AI technologies is driving this growth.

- The Asia-Pacific region is expected to be the fastest-growing and dominating region in the market, driven by the rapid industrialization and the increasing adoption of digital technologies in countries like China and India.

- Key players operating in the global digital twin market include General Electric, IBM Corporation, PTC Inc., Siemens AG, SAP SE, Microsoft Corporation, Alphabet Inc., Dell, Oracle Corporation, Robert Bosch GmbH, and AT&T.

In conclusion, the digital twin market is poised for significant growth in the coming years due to the increasing adoption of IoT and AI technologies. The ability of digital twins to enhance operational efficiency, enable predictive maintenance, and facilitate remote monitoring and simulation makes them valuable assets for businesses across various industries. However, challenges related to implementation costs and data security need to be addressed to unlock the full potential of this technology.

[semiconductorsandelectronics]

Digital Twin Market Size & Share

The global digital twin market Size is expected to reach USD 110.1 billion by 2028 from USD 10.1 Billion in 2023. The market will grow at a CAGR of 61.3% between 2023 and 2028.  

[trendtrackershq]

Strategic Analysis of the Digital Twins in Healthcare Market

Market Growth and Trends

The Digital Twins in Healthcare market is experiencing significant growth, driven by advancements in artificial intelligence (AI), machine learning, and data analytics. The rising demand for personalized medicine and the increasing focus on predictive healthcare are major factors contributing to the market's expansion.

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Key Applications

Patient Monitoring and Care: Digital twins allow for continuous monitoring of patients, enabling healthcare providers to detect abnormalities early and adjust treatment plans in real-time. This technology is particularly beneficial for managing chronic diseases, where continuous data collection and analysis are crucial.

Surgical Planning and Simulation: Surgeons can use digital twins to simulate and practice complex procedures, reducing risks and improving outcomes. By creating a virtual model of a patient's anatomy, surgeons can plan and execute surgeries with greater precision.

Drug Development and Testing: Pharmaceutical companies are leveraging digital twins to simulate drug interactions and predict outcomes, speeding up the drug development process and reducing costs associated with clinical trials.

Hospital Management: Digital twins are also being used to optimize hospital operations, from managing patient flow to maintaining medical equipment. This results in improved efficiency and reduced operational costs.

Access Full Report: https://www.nextmsc.com/report/digital-twins-in-healthcare-market

Conclusion

The Digital Twins in Healthcare market is poised to revolutionize the medical field by enabling more personalized, predictive, and efficient care. As technology continues to advance, the adoption of digital twins will likely become a standard practice in healthcare, leading to improved patient outcomes and more efficient healthcare systems.

[pranalipawarshinde]

Electrical Digital Twin Market Higher Growth Rate & Forecast 2024-2033

“Global Insight Services company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

The electrical digital twin is a digital replica of an electrical system that can be used for simulations, analysis, and predictions. The digital twin can be used to understand the system’s behavior, identify issues, and optimize performance. The digital twin can also be used to create a virtual model of the system for training and education purposes.

View The Full Report Here –https://www.globalinsightservices.com/reports/electrical-digital-twin-market

Key Trends

There are a few key trends in Electrical Digital Twin technology. First, the technology is becoming more sophisticated and is able to capture more data points. This allows for a more accurate representation of the electrical system. Second, the technology is becoming more widely used by utilities and other industries. This is due to the benefits that it can provide, such as improved system efficiency and increased reliability. Finally, the cost of the technology is decreasing, making it more affordable for more organizations to implement.

Key Drivers

The key drivers of Electrical Digital Twin market are its ability to reduce downtime, improve efficiency, and optimize processes. Additionally, it can be used for predictive maintenance, reducing the need for manual intervention. Additionally, it can be used to optimize the design of electrical systems.

[uptothetrendblogs]

Digital Twin in Healthcare Market: Revolutionizing the Industry

Digital Twin technology is emerging as a revolutionary force in the healthcare industry, offering unprecedented opportunities for enhancing patient care, optimizing operations, and driving innovation. A Digital Twin is a virtual replica of a physical entity, such as a patient, medical device, or even a hospital system, that uses real-time data and advanced simulation techniques to mirror its real-world counterpart. This cutting-edge technology is poised to transform healthcare by enabling personalized medicine, predictive analytics, and efficient management of healthcare resources.

Request To Download Sample of This Strategic Report  -  https://univdatos.com/report/digital-twin-in-healthcare-market/

Latest Developments

Personalized Medicine and Patient Care: The application of Digital Twin technology in personalized medicine has gained significant traction. By creating a virtual model of a patient, healthcare providers can simulate different treatment scenarios and predict their outcomes. This approach allows for tailoring medical interventions to individual patient needs, improving efficacy, and reducing side effects. For instance, in 2023, researchers at the University of California, San Francisco, developed a Digital Twin model to predict the progression of chronic diseases, such as diabetes and cardiovascular conditions, enabling early intervention and better management.

Advanced Surgical Planning: Digital Twins are increasingly used in surgical planning and training. Surgeons can practice complex procedures on virtual models before operating on real patients, enhancing precision and reducing risks. In recent news, Mayo

Clinic collaborated with a leading tech company to create detailed Digital Twins of patients' organs, which are used to plan and rehearse surgeries. This collaboration has led to a significant decrease in surgical errors and improved patient outcomes.

Hospital Management and Operations: The COVID-19 pandemic highlighted the need for efficient hospital management and resource allocation. Digital Twins can simulate hospital operations, predicting patient influx and optimizing the use of medical resources. In a recent development, Cleveland Clinic implemented a Digital Twin of their entire hospital system to manage patient flow and resource distribution during the pandemic. This system proved instrumental in reducing wait times and improving the overall efficiency of hospital operations.

Medical Device Development and Testing: Medical device manufacturers are leveraging Digital Twins to accelerate the development and testing of new products. By creating virtual prototypes, companies can conduct extensive testing in a simulated environment, reducing the need for physical trials and speeding up time-to-market. GE Healthcare, for example, has been at the forefront of using Digital Twins to optimize the design and functionality of their imaging devices, ensuring higher reliability and performance.

Market Analysis

The global Digital Twin in Healthcare market is experiencing robust growth, driven by technological advancements, increasing adoption of IoT and AI in healthcare, and the growing need for personalized medicine. According to a recent report by MarketsandMarkets, the market is expected to grow from USD 1.5 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 27.2%.

Several factors contribute to this growth:

Technological Advancements: The integration of IoT devices, AI, and machine learning algorithms with Digital Twin technology is enhancing its capabilities. Advanced sensors and wearable devices collect real-time patient data, which is then processed by AI algorithms to create accurate and dynamic Digital Twins. This synergy between technologies is driving the adoption of Digital Twins in healthcare.

Increasing Investment: Significant investments from both public and private sectors are fueling the growth of the Digital Twin market. Governments and healthcare organizations are recognizing the potential of this technology to improve patient care and reduce costs. In 2023, the European Commission launched a major initiative to fund Digital Twin projects in healthcare, aiming to foster innovation and adoption across the continent.

Growing Demand for Personalized Medicine: The shift towards personalized medicine is a major driver for the adoption of Digital Twins. Patients and healthcare providers are increasingly seeking treatments tailored to individual genetic, environmental, and lifestyle factors. Digital Twins enable precise modeling of these factors, facilitating personalized treatment plans and improving patient outcomes.

Regulatory Support: Regulatory bodies are also supporting the use of Digital Twins in healthcare. The FDA, for example, has introduced guidelines for the use of Digital Twins in medical device testing and approval processes. This regulatory support is expected to encourage more healthcare organizations to adopt the technology.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐇𝐞𝐫𝐞-  https://univdatos.com/report/digital-twin-in-healthcare-market/get-a-free-sample-form.php?product_id=58944

Challenges and Future Prospects

Despite its promising potential, the Digital Twin in Healthcare market faces several challenges. Data privacy and security concerns are paramount, as the technology relies heavily on sensitive patient data. Ensuring the accuracy and reliability of Digital Twins is also crucial, as inaccuracies can lead to suboptimal treatment outcomes.

Looking ahead, the future of Digital Twins in healthcare is bright. Continued advancements in AI, machine learning, and data analytics will enhance the capabilities and applications of Digital Twins. Collaboration between technology companies, healthcare providers, and regulatory bodies will be essential to address challenges and drive widespread adoption.

In conclusion, Digital Twin technology is set to revolutionize the healthcare industry, offering immense potential for improving patient care, optimizing operations, and driving innovation. As the technology continues to evolve and mature, its impact on healthcare is expected to grow, ushering in a new era of precision medicine and efficient healthcare management.

Contact Us: UnivDatos Market Insights Email - contact@univdatos.com  Contact Number - +1 9782263411 Website - www.univdatos.com

[delvens-blog]

Digital Twin Market Size 2023-2030: ABB, AVEVA Group plc, Dassault Systemes

Digital Twin Market by Power Source (Battery-Powered, hardwired with battery backup, Hardwired without battery backup), Type (Photoelectric Smoke Detectors, Ionization Smoke Detectors), Service, Distribution Channel, and region (North America, Europe, Asia-Pacific, Middle East, and Africa and South America). The global Digital Twin Market size is 11.12 billion USD in 2022 and is projected to reach a CAGR of 60.9% from 2023-2030.

Click Here For a Free Sample + Related Graphs of the Report at: https://www.delvens.com/get-free-sample/digital-twin-market-trends-forecast-till-2030

Digital twin technology has allowed businesses in end-use industries to generate digital equivalents of objects and systems across the product lifecycle. The potential use cases of digital twin technology have expanded rapidly over the years, anchored in the increasing trend of integration with internet-of-things  (IoT) sensors. Coupled with AI and analytics, the capabilities of digital twins are enabling engineers to carry out simulations before a physical product is developed. As a result, digital twins are being deployed by manufacturing companies to shorten time-to-market. Additionally, digital twin technology is also showing its potential in optimizing maintenance costs and timelines, thus has attracted colossal interest among manufacturing stalwarts, notably in discrete manufacturing.

The shift to interconnected environments across industries is driving the demand for digital twin solutions across the world. Massive adoption of IoT is being witnessed, with over 41 billion connected IoT devices expected to be in use by 2030. For the successful implementation and functioning of IoT, increasing the throughput for every part or “thing” is necessary, which is made possible by digital twin technology. Since the behavior and performance of a system over its lifetime depend on its components, the demand for digital twin technology is increasing across the world for system improvement. The emergence of digitalization in manufacturing is driving the global digital twin market. Manufacturing units across the globe are investing in digitalization strategies to increase their operational efficiency, productivity, and accuracy. These digitalization solutions including digital twin are contributing to an increase in manufacturer responsiveness and agility through changing customer demands and market conditions.

On the other hand, there has been a wide implementation of digital technologies like artificial intelligence, IoT, clog, and big data which is increasing across the business units. The market solutions help in the integration of IoT sensors and technologies that help in the virtualization of the physical twin. The connectivity is growing and so are the associated risks like security, data protection, and regulations, alongside compliance.

During the COVID-19 pandemic, the use of digital twin technologies to manage industrial and manufacturing assets increased significantly across production facilities to mitigate the risks associated with the outbreak. Amid the lockdown, the U.S. implemented a National Digital Twin Program, which was expected to leverage the digital twin blueprint of major cities of the U.S. to improve smart city infrastructure and service delivery. The COVID-19 pandemic positively impacted the digital twin market demand for twin technology.

Delvens Industry Expert’s Standpoint

The use of solutions like digital twins is predicted to be fueled by the rapid uptake of 3D printing technology, rising demand for digital twins in the healthcare and pharmaceutical sectors, and the growing tendency for IoT solution adoption across multiple industries. With pre-analysis of the actual product, while it is still in the creation stage, digital twins technology helps to improve physical product design across the full product lifetime. Technology like digital twins can be of huge help to doctors and surgeons in the near future and hence, the market is expected to grow.

Market Portfolio

Key Findings

The enterprise segment is further segmented into Large Enterprises and Small & Medium Enterprises. Small & Medium Enterprises are expected to dominate the market during the forecast period. It is further expected to grow at the highest CAGR from 2023 to 2030.

The industry segment is further segmented into Automotive & Transportation, Energy & Utilities, Infrastructure, Healthcare, Aerospace, Oil & Gas, Telecommunications, Agriculture, Retail, and Other Industries. The automotive & transportation industry is expected to account for the largest share of the digital twin market during the forecast period. The growth can be attributed to the increasing usage of digital twins for designing, simulation, MRO (maintenance, repair, and overhaul), production, and after-service.  

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is expected to hold the largest share of the digital twin market throughout the forecast period. North America is a major hub for technological innovations and an early adopter of digital twins and related technologies.  

During the COVID-19 pandemic, the use of digital twin technologies to manage industrial and manufacturing assets increased significantly across production facilities to mitigate the risks associated with the outbreak. Amid the lockdown, the U.S. implemented a National Digital Twin Program, which was expected to leverage the digital twin blueprint of major cities of the U.S. to improve smart city infrastructure and service delivery. The COVID-19 pandemic positively impacted the digital twin market demand for twin technology.  

Regional Analysis

North America to Dominate the Market

North America is expected to hold the largest share of the digital twin market throughout the forecast period. North America is a major hub for technological innovations and an early adopter of digital twins and related technologies.  

North America has an established ecosystem for digital twin practices and the presence of large automotive & transportation, aerospace, chemical, energy & utilities, and food & beverage companies in the US. These industries are replacing legacy systems with advanced solutions to improve performance efficiency and reduce overall operational costs, resulting in the growth of the digital twin technology market in this region.

Competitive Landscape

ABB

AVEVA Group plc

Dassault Systemes

General Electric

Hexagon AB

IBM Corporation

SAP

Microsoft

Siemens

ANSYS

PTC

IBM

Recent Developments

In April 2022, GE Research (US) and GE Renewable Energy (France), subsidiaries of GE, collaborated and developed a cutting-edge artificial intelligence (AI)/machine learning (ML) technology that has the potential to save the worldwide wind industry billions of dollars in logistical expenses over the next decade. GE’s AI/ML tool uses a digital twin of the wind turbine logistics process to accurately predict and streamline logistics costs. Based on the current industry growth forecasts, AI/ML might enable a 10% decrease in logistics costs, representing a global cost saving to the wind sector of up to USD 2.6 billion annually by 2030.  

In March 2022, Microsoft announced a strategic partnership with Newcrest. The mining business of Newcrest would adopt Azure as its preferred cloud provider globally, as well as work on digital twins and a sustainability data model. Both organizations are working together on projects, including the use of digital twins to improve operational performance and developing a high-impact sustainability data model.

Reasons to Acquire

Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors  

Gain authentic and granular data access for Digital Twin Market so as to understand the trends and the factors involved in changing market situations  

Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future  

In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

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Report Scope

Report FeatureDescriptionsGrowth RateCAGR of 60.9% during the forecasting period, 2023-2030Historical Data2019-2021Forecast Years2023-2030Base Year2022Units ConsideredRevenue in USD million and CAGR from 2023 to 2030Report Segmentationenterprise, platform, application, and region.Report AttributeMarket Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company ProfilingRegional Level ScopeNorth America, Europe, Asia-Pacific, South America, and Middle East, and AfricaCountry Level ScopeU.S., Japan, Germany, U.K., China, India, Brazil, UAE, and South Africa (50+ Countries Across the Globe)Companies ProfiledABB; AVEVA Group plc; Dassault Systems; General Electric; Hexagon AB; IBM Corp.; SAP.Available CustomizationIn addition to the market data for Digital Twin Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

TABLE OF CONTENTS

Large Enterprises

Small & Medium Enterprises            

Product Design & Development

Predictive Maintenance

Business Optimization

Performance Monitoring

Inventory Management

Other Applications

Automotive & Transportation

Energy & Utilities

Infrastructure

Healthcare

Aerospace

Oil & Gas

Telecommunications

Agriculture

Retail

Other Industries.

Asia Pacific

North America

Europe

South America

Middle East & Africa

ABB

AVEVA Group plc

Dassault Systemes

General Electric

Hexagon AB

IBM Corporation

SAP

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[techviewindustry]

Digital Twin Market 2025 Size, Share, Growth Trends Forecast to 2032

The global Digital Twin Market size is expected to grow from USD 12.91 billion in 2023 to USD 259.32 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 39.8% during the forecast period.

The recently released Fortune Business Insights research on the Global Digital Twin Market survey report provides facts and statistics regarding market structure and size. Global Digital Twin Market Size 2025 Research report presents an in-depth analysis of the Global Market size, growth, share, segments, manufacturers, and forecast, competition landscape and growth opportunity. The research’s goal is to provide market data and strategic insights to help decision-makers make educated investment decisions while also identifying potential gaps and development possibilities.

Companies Profiled in the Global Digital Twin Market:

General Electric (U.S.)

Microsoft Corporation (U.S.)

Hitachi Ltd. (Japan)

Dassault Systemes SE (France)

Autodesk Inc. (U.S.)

SAP SE (Germany)

Siemens AG (Germany)

ANSYS Inc. (U.S.)

PTC Inc. (U.S.)

IBM Corporation (U.S.)

Market Value to Surge Owing to Growing Adoption of 3D Printing and 3D Simulation Software

One of the key players propelling digital twin market growth include an upsurge in the deployment of 3D printing and 3D simulation software. The twins are useful in predicting the possibility and place of distortions, enabling their effective repairing on the 3D model.

However, the industry expansion is likely to be hampered by the escalating demand for twin solutions based on cloud, artificial intelligence, Big Data, and IoT.

What exactly is included in the Report?

– Industry Trends and Developments: In this section, the authors of the research discuss the significant trends and developments that are occurring in the Digital Twin Market place, as well as their expected impact on the overall growth.

– Analysis of the industry’s size and forecast: The industry analysts have provided information on the size of the industry from both a value and volume standpoint, including historical, present and projected figures.

– Future Prospects: In this portion of the study market participants are presented with information about the prospects that the Digital Twin Market is likely to supply them with.

– The Competitive Landscape: This section of the study sheds light on the competitive landscape of the Digital Twin Market by examining the important strategies implemented by vendors to strengthen their position in the global market.

– Study on Industry Segmentation: This section of the study contains a detailed overview of the important Digital Twin Market segments, which include product type, application, and vertical, among others.

– In-Depth Regional Analysis: Vendors are provided with in-depth information about high-growth regions and their particular countries, allowing them to place their money in more profitable areas.

This Report Answers the Following Questions:

What are the Digital Twin Market growth drivers, hindrances, and dynamics?

Which companies would lead the market by generating the largest revenue?

How will the companies surge the processes adoption amid the COVID-19 pandemic?

Which region and segment would dominate the Digital Twin Market in the coming years?

Digital Twin Market Segments:

By Type

Parts Twin

Product Twin

Process Twin

System Twin

By Application

Predictive Maintenance

Product Design & Development

Business Optimization

Others (Inventory Management)

By End-user

Aerospace & Defense

Aircraft Engine Design and Production

Space-Based Monitoring

Automotive & Transportation

Fleet Management

Vehicle Designing & Simulation

Manufacturing

Healthcare

Medical Device Simulation

Patient Monitoring

Retail

Energy & Utilities

Wind & Gas Turbines

Power Infrastructure

Real Estate

IT and Telecom

Others

Table Of Content:

Moreover, Introduction

1.1. Moreover, Research Scope

1.2. Moreover, Market Segmentation

1.3. Moreover, Research Methodology

1.4. Moreover, Definitions and Assumptions

Executive Summary

Market Dynamics

3.1. Moreover, Market Drivers

3.2. Moreover, Market Restraints

3.3. Moreover, Market Opportunities

Moreover, Key Insights

4.1. Key Industry Developments ��� Moreover, Merger, Acquisitions, and Partnerships

4.2. Porter’s Five Forces Moreover, Analysis

4.3. Moreover, SWOT Analysis

4.4. Moreover, Technological Developments

4.5. Moreover, Value Chain Analysis

4.6. Moreover, Impact of COVID-19 on Market

5.Key Findings / Moreover, Summary

5.1 North America Sales, Revenue and Market Share by Country

5.1.1 North America Sales and Market Share by Country (2023-2030)

5.1.2 North America Revenue and Market Share by Country (2023-2030)

5.2 United States Sales and Growth Rate (2023-2030)

5.3 Canada Sales and Growth Rate (2023-2030)

5.4 Mexico Sales and Growth Rate (2023-2030)

8 South America by Country

8.1 South America Sales, Revenue and Market Share by Country

8.1.1 South America Sales and Market Share by Country (2023-2030)

8.1.2 South America Revenue and Market Share by Country (2023-2030)

8.2 Brazil Sales and Growth Rate (2023-2030)

8.3 Argentina Sales and Growth Rate (2023-2030)

8.4 Colombia Sales and Growth Rate (2023-2030)

9 Middle East and Africa by Countries

9.1 Moreover, Middle East and Africa Sales, Revenue and Market Share by Country

9.1.1 Middle East and Africa Sales and Market Share by Country (2023-2030)

9.1.2 Moreover, Middle East and Africa Revenue and Market Share by Country (2023-2030)

9.2 Saudi Arabia Sales and Growth Rate (2023-2030)

9.3 Moreover, Turkey Sales and Growth Rate (2023-2030)

9.4 Egypt Sales and Growth Rate (2023-2030)

9.5 Moreover, Nigeria Sales and Growth Rate (2023-2030)

10 Digital Twin Market Size 2025 In Developing Countries

11 South America Analysis by Countries

12 Moreover, Competitive Landscape

13 Moreover, Industry Outlook

13.1 Moreover, Market Driver Analysis

13.1.2 Moreover, Market Restraints Analysis

13.1.3 Moreover, Market Trends Analysis

13.2 Moreover, Merger, Acquisition and New Investment

13.3 Moreover, News of Product Release

14 Moreover, Global Forecast

15 Moreover, New Project Feasibility Analysis

15.1 Moreover, Industry Barriers and New Entrants SWOT Analysis

15.1.1 Moreover, Porter’s Five Forces Analysis

15.1.2 Moreover, New Entrants SWOT Analysis

15.2 Moreover, Analysis and Suggestions on New Project Investment

Continued…

[wissenresearchllc]

Trends in Robotics Technology: Shaping the Future of Industries and Everyday Life

Today, cutting-edge advancements enhance productivity, improve safety, and reshape how we interact with machines. Here’s a look at some of the game-changing trends in the world of robotics:

Humanoid Robots

Polyfunctional Robots

Mobile Manipulators

Digital Twins

Human-Robot Collaboration (HRC)

Advanced AI Integration

The future of robotics is filled with endless possibilities, and it’s happening right now. Whether you're in manufacturing, healthcare, logistics, or any other sector, the emerging trends in robotics offer exciting opportunities to innovate and stay ahead of the competition.

Ready to dive deeper into these trends?

Get in touch today to discover how our tailored research solutions can help you navigate emerging technologies, assess market opportunities, and enhance your competitive edge.

Visit: www.wissenresearch.com/technology-research-service/

[entrepreneurstreet]

Trends Shaping Education in Malaysia 2025

By Dr. Riyas M K, Deputy Chief Executive Officer, YES International College, Malaysia

As the world embraces an era of rapid change, Malaysia’s education sector has risen to the challenge, adapting to global trends while addressing the unique needs of its diverse population. By 2025, Malaysia has positioned itself as a leader in Southeast Asia’s educational innovation, blending traditional values with forward-looking strategies. Here are the key trends shaping education in Malaysia today.

One of the most transformative shifts in Malaysia's education system is the full integration of digital tools and technologies. The hybrid learning model, combining in-person and online education, has become the norm across institutions.

Key Developments:

Advanced Learning Management Systems (LMS), powered by AI, are enabling personalized learning experiences.

Virtual Reality (VR) and Augmented Reality (AR) are redefining practical learning in fields like medicine, engineering, and the arts.

Online platforms offering Massive Open Online Courses (MOOCs) allow students to access global content without leaving Malaysia.

The Ministry of Education is also actively supporting digital literacy among teachers and students to ensure equitable access to technology-driven education.

The job market in 2025 demands constant upskilling and reskilling. To meet this need, Malaysian institutions are promoting lifelong learning programs. These courses, often available online, cater to working professionals seeking to upgrade their skills.

Fields like cybersecurity, green energy solutions, and AI-driven data analytics are popular among learners. The government’s push to subsidize short courses and certifications has made lifelong learning more accessible.

Sustainability has become a cornerstone of education in Malaysia. Institutions are embedding the principles of environmental conservation and sustainable development into their curriculums.

Examples of Initiatives:

Universities are offering programs focused on renewable energy, eco-friendly design, and climate change adaptation.

Many campuses are becoming green, adopting solar energy, waste recycling systems, and water-saving technologies.

Students participate in community-driven sustainability projects, such as reforestation and urban farming, linking academic concepts to real-world impact.

This focus on sustainability not only prepares students for future challenges but also aligns with Malaysia’s broader goals of achieving environmental sustainability.

Malaysia continues to attract international students with its cost-effective and high-quality education. By 2025, the country is hosting students from over 150 nations, thanks to its globally recognized degree programs and twinning options.

Twinning Programs and credit transfers with universities in the UK, Australia, and the US remain a popular pathway, allowing students to gain international exposure without the full financial burden. The government’s streamlined visa processes for international students have further enhanced Malaysia’s reputation as an education hub.

Artificial Intelligence (AI) is playing a significant role in shaping how education is delivered in 2025. From personalized learning paths to predictive analytics, AI has become an indispensable tool in Malaysian classrooms.

Innovations in AI-Powered Education:

Adaptive assessments tailor difficulty levels to individual student needs.

AI tutors and chatbots offer instant feedback and support, enhancing the learning experience.

Predictive analytics help institutions identify struggling students early, enabling timely interventions.

Malaysia remains committed to providing affordable education without compromising quality. By 2025, scholarships, financial aid, and flexible payment plans are more accessible than ever.

Public universities and private institutions alike have embraced technology to reduce operational costs, passing on the savings to students. This affordability attracts both local and international learners, making Malaysia a beacon of accessible education.

Malaysia’s education system has increasingly emphasized research, innovation, and entrepreneurship. Universities now serve as incubators for startups and innovation centers.

Notable Trends:

Collaborative research between academia and industry is on the rise, particularly in fields like biotechnology and renewable energy.

Students are encouraged to develop entrepreneurial skills, with many institutions offering startup incubation programs.

Government grants and private investments are fostering groundbreaking research.

Modern education in Malaysia is all about flexibility. Whether it’s twinning programs, credit transfers, or modular learning, students now have multiple pathways to achieve their academic and career goals.

Institutions are also introducing stackable certifications, where students can earn credentials incrementally, building towards a full degree at their own pace.

By 2025, Malaysia has successfully embraced trends that make education future-proof, inclusive, and globally competitive. From cutting-edge digital tools to sustainability-focused curriculums, the country’s education sector is preparing students to excel in an interconnected world.

At YES International College, we are proud to be part of this transformative journey, equipping our students with the skills and knowledge to thrive in an ever-changing landscape. Malaysia’s education system is not just keeping up with the times—it’s leading the way.

[global-trends-in-transformer]

Global Trends in Transformer Core Manufacturing and Design

The Transformer Core plays a pivotal role in the efficiency and reliability of power distribution systems worldwide. As the demand for electricity grows and sustainability takes center stage, the transformer manufacturing industry is experiencing transformative changes. Advancements in materials, technologies, and design methodologies are driving the evolution of Transformer Core manufacturing, making transformers more efficient, durable, and eco-friendly.

This article delves into the global trends shaping Transformer Core manufacturing and design, emphasizing innovations that align with modern energy needs.

The Importance of Transformer Core

The Transformer Core is the heart of any transformer, responsible for transferring electrical energy between circuits with minimal losses. Its efficiency determines how much energy is conserved during the transformation process. Key factors influencing the performance of a Transformer Core include:

Material Quality: Determines magnetic properties and energy losses.

Core Design: Affects efficiency and noise levels.

Manufacturing Precision: Ensures reliability and longevity.

With increasing energy demands and sustainability goals, optimizing the Transformer Core has become a priority for manufacturers worldwide.

Trends in Transformer Core Materials

1. Advancements in Core Materials

High-grade materials like Cold Rolled Grain Oriented (CRGO) steel are widely used in Transformer Cores due to their exceptional magnetic properties and low energy losses. Recent innovations include:

Amorphous Metal Alloys: These materials reduce core losses further, making transformers more energy-efficient.

Nanocrystalline Materials: Emerging as a promising alternative, offering superior performance for high-frequency applications.

2. Sustainable Materials

Manufacturers are exploring eco-friendly materials for Transformer Cores to reduce environmental impact. These materials not only lower production emissions but also enhance recyclability.

Innovations in Transformer Core Design

1. Compact Designs

Urbanization and the increasing use of renewable energy have led to a demand for compact transformers. Innovative Transformer Core designs are enabling manufacturers to produce smaller transformers without compromising performance.

2. Noise Reduction

Advanced core geometries and material treatments are being employed to minimize noise levels. These innovations are particularly important for transformers in residential and urban areas.

3. 3D Core Construction

3D designs are gaining traction, allowing for better flux distribution and reduced energy losses. These designs optimize the alignment of magnetic fields within the core, improving efficiency.

Smart Manufacturing Technologies

1. Automation and AI

Automation in Transformer Core manufacturing has revolutionized the industry. Robotic systems ensure precision cutting and assembly, while AI algorithms optimize design parameters for maximum efficiency.

2. Digital Twins

Using digital twin technology, manufacturers can simulate core performance under various conditions, enabling the development of more reliable and efficient designs.

3. Advanced Coating Techniques

Innovative coating methods are being applied to Transformer Cores to enhance insulation and reduce energy losses, further improving transformer efficiency.

Global Market Trends

1. Rise of Renewable Energy

The global shift toward renewable energy sources is reshaping Transformer Core manufacturing. Transformers with cores optimized for handling variable loads are crucial for wind and solar power systems.

2. Regional Focus on Energy Efficiency

Regions like Europe and North America are setting stringent energy efficiency standards, driving demand for high-performance Transformer Cores. Meanwhile, Asia-Pacific is emerging as a major hub for transformer manufacturing due to rapid industrialization and urbanization.

3. Smart Grids and IoT Integration

The integration of Transformer Cores into smart grids is gaining momentum. Smart transformers equipped with IoT sensors and advanced cores can monitor performance in real-time, enhancing grid reliability and efficiency.

Challenges in Transformer Core Manufacturing

Despite advancements, manufacturers face several challenges:

Material Costs: High-quality materials like CRGO steel and amorphous alloys are expensive, affecting production costs.

Skilled Workforce: The precision required for manufacturing Transformer Cores demands a skilled workforce, which is in short supply in some regions.

Sustainability Goals: Balancing cost-effectiveness with eco-friendly manufacturing practices remains a challenge.

Efforts to address these challenges include investing in research and development, adopting advanced manufacturing techniques, and promoting global collaboration.

Future Outlook

The future of Transformer Core manufacturing and design looks promising, with several emerging trends:

1. Ultra-High Efficiency Cores

Ongoing research aims to develop ultra-high efficiency cores that virtually eliminate energy losses, revolutionizing the energy sector.

2. AI-Driven Optimization

AI will play a greater role in optimizing core designs and predicting maintenance needs, ensuring transformers operate at peak efficiency throughout their lifecycle.

3. Sustainable Manufacturing Practices

The push for sustainability will drive innovations in materials and manufacturing processes, reducing the carbon footprint of transformers.

4. Wider Applications

Beyond traditional power distribution, Transformer Cores will find applications in electric vehicles, smart appliances, and renewable energy systems, broadening their impact.

Conclusion

The Transformer Core industry is at the forefront of energy innovation, with advancements in materials, design, and technology driving significant progress. These trends are not only enhancing transformer performance but also contributing to global sustainability goals.

As manufacturers continue to push the boundaries of innovation, Transformer Cores will remain integral to the evolution of power systems. With a focus on efficiency, durability, and eco-friendliness, the future of Transformer Core manufacturing promises a greener and more energy-efficient world.

[snehalblog]

The Digital Power Utility Market: Exploring Growth Opportunities and Technological Advancements - UnivDatos

The Digital Power Utility Market is expected to grow at a strong CAGR of 11.2% during the forecast period. It is mainly owing to the government programs and incentives to promote cleaner renewable and increasing consumption of electricity globally. Utilities can realize most of this potential by three means: smart meters & the smart grid, digital productivity tools for employees, and automation of back-office processes. All major energy suppliers have invested in online and especially mobile channels in recent years. While many of the efforts have yielded optimal results, some lag with respect to usability and the interface between the online and traditional sales channels.

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Power utility means any organization engaged in generating, transmitting, distributing, or furnishing electricity. The digital power utility solution helps the power distributor by providing a real-time solution to control the assets using the cloud and Internet of Things application. Renewables, distributed generation, and smart grids demand new capabilities and are triggering new business models and regulatory frameworks. digital economy are disrupting the industrial landscape, while governments and regulatory bodies seek to encourage smarter measuring systems and greener standards for generation and consumption.

Digital Utilities are showcasing trends such as Edge computing, Digital twins, Digital security, and Customer experience. The market for digital power utility market is showcasing major growth as most companies are shifting towards the digitalization of their services provided, and as technology develops, these systems are updated in order to replace obsolete services. For instance, Leakster is an Australian startup that has developed a new way to monitor the condition of pipelines without needing to shut off the water supply. The company’s ACTIVE sensor is fitted onto a pipe and sends data to the cloud, where Leakster’s software platform uses artificial intelligence-based algorithms to identify leaks, pressure variations, blockages, and velocity. This allows water utility companies to make informed asset management and maintenance decisions. Leakster’s technology has the potential to save water utilities millions of dollars by reducing the need for extensive and expensive repairs.

Based on Technology, The Digital Power Utility market is divided into Hardware and Integrated Solutions segments. The Hardware segment acquired a majority share in the Digital Power Utility market and is expected to showcase a substantial growth rate during the forecast period. As technology is being developed at a faster rate, the hardware capability is becoming obsolete faster. Companies have started replacing obsolete hardware faster when compared to a decade ago. Each new software update puts pressure on the hardware capability making it obsolete faster. Top companies must replace the old hardware as increasing competition is making it harder for top companies to continue using obsolete hardware systems. Moreover, the increasing demand for smart meters is a major contributor to the growing hardware segment. For instance, around 572.3 million smart electricity meters will be deployed in China, India, Japan, and South Korea between 2021 and 2025, with China accounting for the majority share of these smart meters.

Based on Network, the Digital Power Utility market is segmented into Generation, Transmission & Distribution, and Retail segments. The transmission & Distribution segment is expected to be the fastest-growing segment in the digital power utility market during the forecast period as most countries are developing, modifying, and upgrading their power grids to cope with future demand. Countries such as China and India are contributing heavily to the growth of the transmission & distribution segment during the forecast period due to massive investments by them to develop their electricity grid during the projected period. China is the largest transmission and distribution market globally during the forecast period due to its cost-effective smart meters manufacturing capability and plans to develop a high number of smart grid clusters.

APAC to witness extensive growth

For a better understanding of the market adoption of Digital Power Utility, the market is analyzed based on its worldwide presence in the countries such as North America (U.S.A, Canada, and the Rest of North America), Europe (Germany, Italy, United Kingdom, Netherlands, France, and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific) and Rest of World. APAC registered the highest market share in the Digital Power Utility market and is expected to witness an influential CAGR in the forecasted period. It is mainly owing to many Digital Power Utility projects taking place in China, India, Australia, South Korea, and Japan. Moreover, favorable government policies, regulations, and investments in achieving renewable energy targets set by various countries are driving the market. China has become the largest player in the digital power utility market due to massive investments from the State Grid in the North and China Southern Power Grid in the South. The Chinese government has set targets for the share of non-hydro renewables of up to 25.9% in 2030 and 36.0% in 2035, expanding its total installed capacity of wind and solar power to over 1 200 GW by 2030. Massive investments with high targets of power generation will act as a catalyst in the growth of the APAC Digital Power Utility Market during the forecast period.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Digital Power Utility market are ABB LTD, Schneider Electric SE, Microsoft Corporation, IBM, General Electric, SAP SE, Eaton Corporation, Capgemini, Oracle Corporation, and Siemens AG.

“Global Digital Power Utility Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.