Green Digital Twin Market Seen Soaring 36.8% Growth to Reach USD 29,332.1 Million by 2030, Projects Univdatos Market Insights
- Vikas Kumar
- November 15, 2023
- ENERGY & POWER, NEWS
- Green Digital Twin, Green Digital Twin Market, Green Digital Twin Market analysis, Green Digital Twin Market forecast, Green Digital Twin Market growth, Green Digital Twin Market share, Green Digital Twin Market trends
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Key Highlights of the Report:
- Resource Management: Green digital twins enable precise monitoring and management of natural resources like water and energy. In arid Middle Eastern countries, this technology helps optimize water usage for agriculture and urban areas, reducing wastage.
- Smart Cities: Middle East cities are rapidly urbanizing. Green digital twins are crucial for designing and managing sustainable smart cities, integrating green infrastructure, renewable energy, and efficient transportation systems.
- Renewable Energy Integration: The Middle East is known for its abundant sunlight. Green digital twins assist in planning and optimizing the integration of solar and wind energy into the grid, reducing reliance on fossil fuels.
- Climate Resilience: Climate change impacts are a concern in the region. Green digital twins are used to model and simulate the effects of rising temperatures, sea-level rise, and extreme weather events, helping authorities plan for resilience.
- Biodiversity Conservation: Preserving biodiversity in arid environments is essential. Green digital twins aid in mapping and protecting fragile ecosystems, ensuring that development projects do not harm local flora and fauna.
According to a new report by Univdatos Market Insights, the Green Digital Twin Market is expected to reach USD 29,332.1 Million in 2030 by growing at a CAGR of 36.8%. The growth of the green digital twin market in Middle East countries is prepared to bring about transformative changes in various industries. One key driver of this growth is the region’s increasing commitment to sustainability and environmental conservation. Middle Eastern nations, recognizing the urgent need to reduce their carbon footprint, are embracing digital twin technology to optimize their infrastructure and industrial processes. As per the National Institute of Health, in 2022, with a contribution rate of 53.89 %, population growth is the primary driver of CO2 emissions in the Middle East, followed by energy intensity (31.97 %) and economic growth (18.42 %). Moreover, as governments in the Middle East implement stringent regulations and incentives to promote sustainability, the adoption of green digital twins becomes not just a choice but a necessity for businesses seeking compliance and competitiveness in the market. The report suggests that the increasing awareness of the benefits of digitalization and the need for sustainable urban planning is one of the major factors driving the green digital twin market during the forthcoming years. Middle East’s strategic location as a global trade and logistics hub further propels the green digital twin industry. Additionally, the Middle East’s ambitious smart city initiatives demand advanced technologies to manage urban infrastructure sustainably. As cities in the region rapidly expand, digital twins will facilitate intelligent urban planning, from optimizing traffic flow to reducing water and energy waste. The convergence of these factors, driven by environmental awareness and economic imperatives, positions the Middle East as a thriving hub for the green digital twin industry, with the potential to set new standards for sustainable development in the region and hence will drive the demand for the green digital twin market over the forecast period.
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Apart from this, growing technological advancements including big data analytics, internet of things, artificial intelligence, and virtual reality, amongst others in green digital twin also positively impact the market’s growth. A wide range of investments have adopted strategic alliances in this area, thus suggesting huge potential in this area. Some of the recent strategic alliances are:
- July 12, 2023: PwC and Dar collaborated to take on the sustainability challenge in the Middle East built environment that contributes almost 40% of annual global GHG emissions. With a shared vision to support the Middle East’s net zero agenda in the United Arab Emirates
- June 15, 2023: Siemens presents USD 2.17 billion investment strategy to boost future growth, innovation, and resilience
- Feb 18, 2023: The Saudi Arabian government’s commitment to invest in metaverse technology with KPMG to accelerate the development and adoption of the metaverse as well as digital twin technologies in Saudi Arabia and the wider Middle East region
- Feb 23, 2023: Dubai Electricity & Water Authority (DEWA) digital subsidiary Data Hub Integrated Solutions’ green data center was recognized as the world’s largest of its type by the Guinness World Records. The centre features digital solutions from Dell Technologies, Microsoft, and Huawei including the latest advances in the Internet of Things (IoT), cybersecurity, digital twin technologies, artificial intelligence (AI), and others.
- Dec 6, 2022: Bosch, a leading global supplier of technology and services, has announced the Middle East launch of its Digital Twin – IAPM (Integrated Asset Performance Management) solution.
- Oct 14, 2022: UAE – PwC Middle East has demonstrated its reimagination of digital services, with the launch of its latest digital twins report and signing of strategic agreement with one of the leading UAE entities, G42 at Gitex Global
- Feb 10, 2022: Tata Consultancy Services (TCS) presented its suite of sustainability solutions consisting of TCS Clever Energy, Intelligent Power Plant and TCS Envirozone on Microsoft’s Azure IoT platform to help organizations gain insights into energy usage and reduce waste and emissions to accelerate towards their net-zero goals
Conclusion
The Middle East green digital twin market is expected to experience significant growth in the coming years due to various factors such as the smart urban development is gaining momentum, and green digital twins are the latest addition to this transformative landscape. These digital replicas are helping governments and industries make informed decisions that balance economic growth with environmental responsibility. As the region continues to invest in technology and innovation, it is poised to become a global leader in sustainable development. The adoption of green digital twins is not just a trend it’s a visionary step towards a greener, more sustainable future for the Middle East and the world, which will drive the demand for the green digital twin market over the forecast period.
