Green Digital Twin Market: Current Analysis and Forecast (2023-2030)
$3999 – $6999
Emphasis on Deployment Type (On Premise, Cloud); Application (Predictive Maintenance, Product Design & Development, Business Optimization, Inventory Management, Performance Monitoring); End-User Building and Construction, Manufacturing, Mining, Energy); and Region/Country
The Green Digital Twin market was valued at USD 22,172.7 million in 2022 and is expected to grow at a strong CAGR of 37.4% during the forecast period 2023-2030. owing to the rising green digital technology that helps in reducing carbon emissions and ensures energy efficiency of technological infrastructure, and responsible for the use of resources and the promotion of sustainable behaviors through digital applications and services. Moreover, various key players in the market are adopting green digital twins in the value chain of the manufacturing sector to minimize carbon footprints, reduce cost, and wastage and escalate the maximum flexibility in designing parts for repair and re-manufacturing.
Some of the major players operating in the market include IBM, Dassault Systemes, Siemens, Autodesk, Schneider Electric, Bentley Systems, Ansys, AVEVA, Parametric Technology Corporation, and Cognite.
Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst deployment type, the cloud segment held a dominating share of the market in 2022”
Based on the deployment type, the market is segment into on-premise and cloud. The cloud segment caters highest share in the green digital twin market. It is mainly due to cloud capability to provide scalable and flexible infrastructure for implementing digital twins. It offers advantages such as cost savings, accessibility, and powerful computing capabilities. Moreover, the adoption of IoT devices, sensors, controllers, and various components for digitizing is fueling the adoption of cloud deployment.
“Amongst applications, the predictive maintenance segment held the majority share of the market in 2022”
Based on the applications, the market is segmented into predictive maintenance, product design & development, business optimization, inventory management, and performance monitoring. Predictive maintenance holds a significant in the market. This is due to the desire to move from reactive or preventive maintenance approaches to more proactive and cost-effective strategies. By leveraging digital twins, organizations can optimize their maintenance practices, enhance asset reliability, and reduce downtime, resulting in significant cost savings and operational improvements.
“Europe Caters Considerable Share in the Green Digital Twin Market in 2022”
Europe has seen considerable growth in the Green Digital Twin market. The European Commission has proposed a Green Deal Industrial Plan to achieve climate neutrality by 2050 and increase the competitiveness of Europe’s net-zero industry. This plan is driving the demand for green digital twin technology, as the need to address climate change and environmental degradation is increasing. These two main trends – green and digital transitions – are shaping the future of the European Union. Every 1% increase in global GDP causes CO2 emissions to rise by about 0.5% and resource consumption by 0.4%. Digital technologies can contribute significantly to addressing this challenge. By 2025, it is estimated that digitalization could save over 26 billion tonnes of CO2 emissions globally – about as much as Europe’s emissions over the same period.
Green Digital Twin Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
The global Green Digital Twin market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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|2.1.||Research Process of the Green Digital Twin Market|
|2.2.||Research Methodology of the Green Digital Twin Market|
|3||MARKET KEY INSIGHTS|
|5||GREEN DIGITAL TWIN MARKET REVENUE (USD BN), 2020-2030F|
|7.2.||Product Design & Development|
|8.1.||Building and Construction|
|8.5.||Others (Chemical, Pharmaceutical, Retail, F&B and others)|
|9.1.3.||Rest of North America|
|9.2.6.||Rest of Europe|
|9.3.4.||Rest of Asia-Pacific|
|9.4.||Rest of World|
|11||GREEN DIGITAL TWIN MARKET OPPORTUNITIES|
|12||GREEN DIGITAL TWIN MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|15.1.1.||Porters Fiver Forces Analysis|
|16.9.||Parametric Technology Corporation|
Research Methodology for the Green Digital Twin Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Green Digital Twin market were the three major steps undertaken to create and analyze the adoption of Green Digital Twin in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Green Digital Twin market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Green Digital Twin market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Green Digital Twin market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as deployment type, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Green Digital Twin market. Further, we conducted factor analysis using dependent and independent variables such as the deployment type, application, and end-user of the Green Digital Twin market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Green Digital Twin market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Green Digital Twin market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Green Digital Twin market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Green Digital Twin market in terms of product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Green Digital Twin market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the deployment type, application, and end-user in the global Green Digital Twin market.
The Main Objective of the Global Green Digital Twin Market Study
The current & future market trends of the global Green Digital Twin market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Green Digital Twin market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the deployment type, application, and end-user.
- Define and analysis of the regulatory framework for the Green Digital Twin
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Green Digital Twin market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Green Digital Twin market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry