Electrical Digital Twin Market Size, Share, Growth Analysis, By Twin Type(Digital Gas & Steam Power Plant, Digital Wind Farm, Digital Grid, Digital Hydropower Plant), By Usage Type(Product Digital Twin, Process Digital Twin, System Digital Twin), By Deployment Type(On-Premises, Cloud), By End-User(Utilities, Grid Infrastructure Operators), By Application(Asset Performance Management, Business & Operations Optimization), By Region - Industry Forecast 2024-2031

Electrical Digital Twin Market Driver

Integration of variable renewable energy and decentralization of distributed energy resources using electrical digital twins

• Grid operators can simulate operational scenarios important for the dependable, efficient, and secure planning, operation, and repair of electrical systems thanks to electrical digital twins. Decentralization of distributed energy resources (DER) makes running and maintaining a grid more difficult. For utilities and grid operators to monitor, regulate, automate, and run their power networks, they need quicker and more effective solutions, such as electrical digital twins. Electrical digital twins can help with the difficulties involved with DER integration and other grid modernization activities. These tools aid in the planning, analysis, and designing phases of grid modernization and assist in determining the impact of DER. Utility companies may therefore simplify the DER interconnection process to speed up customer service, make cost-effective investments, and improve operational effectiveness.

Electrical Digital Twin Market Restraint

System complexities and availability of accurate mathematical models

• A digital twin should be capable of precisely capturing physical characteristics and mimicking behaviors of both basic and complex objects, as well as their relationships. For instance, the implementation is made more difficult by the fact that the production of an electrical digital twin necessitates several contributions from operators, including facility managers, design engineers, electrical engineers, equipment vendors, and other parties. Getting the asset data from the supplier may be difficult since it calls for close coordination among several supply chain stages. Furthermore, it could be difficult to maintain the needed degree of connectivity in a supply chain to access asset data. The intricacy of the actual object that has to be duplicated presents another difficulty.