As per a new market research report on the electrical digital twin market published by an ESOMAR-certified market research and consulting firm, the sales of electrical digital twins will advance at a compound annual growth rate (CAGR) of 12% from approximately $1 billion in 2021 to $3 billion in 2032.
The increased acceptance of innovative technologies, such as IoT and cloud, for digital twin applications, and attractive digital twin prospects in industries, such as aerospace and defense, health care, and automotive and transportation, are driving demand for electrical digital twins.