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Smart Grid Market by Component (Software, Hardware, Services), Application (Generation, Transmission, Distribution, Consumption/End Use), Communicatio...

Publisher:        MarketsandMarkets

# of Pages:        297

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Publication Date:  October, 2021

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1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28
1.2 MARKET DEFINITION 28
1.3 INCLUSIONS AND EXCLUSIONS 29
1.3.1 SMART GRID MARKET, BY COMPONENT 29
1.3.2 SMART GRID MARKET, BY APPLICATION 29
1.3.3 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY 29
1.4 STUDY SCOPE 30
1.4.1 MARKETS COVERED 30
1.4.2 GEOGRAPHIC SCOPE 31
1.4.3 YEARS CONSIDERED 31
1.5 CURRENCY 32
1.6 LIMITATIONS 32
1.7 STAKEHOLDERS 32
1.8 SUMMARY OF CHANGES 33
2 RESEARCH METHODOLOGY 34
2.1 RESEARCH DATA 34
FIGURE 1 SMART GRID MARKET: RESEARCH DESIGN 34
2.1.1 SECONDARY DATA 35
2.1.1.1 Key data from secondary sources 35
2.1.2 PRIMARY DATA 36
2.1.2.1 Key data from primary sources 36
2.1.2.2 Breakdown of primaries 37
FIGURE 2 BREAKDOWN OF PRIMARIES 37
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 38
FIGURE 3 DATA TRIANGULATION METHODOLOGY 38
2.3 MARKET SIZE ESTIMATION 39
2.3.1 BOTTOM-UP APPROACH 39
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 39
2.3.2 TOP-DOWN APPROACH 40
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 40
2.3.3 DEMAND-SIDE ANALYSIS 41
FIGURE 6 METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR SMART GRIDS 41
2.3.3.1 Calculation for demand side 41
2.3.3.2 Assumptions for demand-side analysis 42

2.3.4 SUPPLY-SIDE ANALYSIS 42
FIGURE 7 METRICS CONSIDERED TO ASSESS SUPPLY SIDE OF SMART GRID MARKET 42
FIGURE 8 SMART GRID MARKET: SUPPLY-SIDE ANALYSIS 43
2.3.4.1 Supply-side calculation 43
2.3.4.2 Assumptions for supply-side analysis 43
2.3.5 FORECAST 43
3 EXECUTIVE SUMMARY 44
TABLE 1 SNAPSHOT OF SMART GRID MARKET 46
FIGURE 9 SOFTWARE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF SMART GRID MARKET, BY COMPONENT, IN 2026 47
FIGURE 10 SMART GRID DISTRIBUTION MANAGEMENT SOFTWARE TO LEAD SMART GRID MARKET IN 2026 47
FIGURE 11 SMART METERS TO LEAD SMART GRID MARKET, BY HARDWARE, 2026 48
FIGURE 12 DEPLOYMENT AND INTEGRATION SERVICES TO DOMINATE SMART GRID MARKET IN 2026 48
FIGURE 13 DISTRIBUTION APPLICATION TO CONTINUE TO HOLD LARGEST SIZE OF SMART GRID MARKET THROUGHOUT FORECAST PERIOD 49
FIGURE 14 WIRELINE COMMUNICATION TECHNOLOGY TO ACCOUNT FOR LARGEST SIZE OF SMART GRID MARKET IN 2026 49
FIGURE 15 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF SMART GRID MARKET IN 2020 50
4 PREMIUM INSIGHTS 51
4.1 ATTRACTIVE OPPORTUNITIES IN SMART GRID MARKET 51
FIGURE 16 MODERNIZATION OF AGING GRID INFRASTRUCTURE AND IMPLEMENTATION OF SMART METERS TO PROPEL SMART GRID MARKET GROWTH DURING 2021–2026 51
4.2 SMART GRID MARKET IN NORTH AMERICA, BY COMPONENT AND COUNTRY 52
FIGURE 17 US HELD LARGEST SHARE OF NORTH AMERICAN SMART GRID MARKET IN 2020 52
4.3 SMART GRID MARKET, BY COMPONENT 52
FIGURE 18 SOFTWARE COMPONENTS HELD LARGEST SHARE OF GLOBAL SMART GRID MARKET IN 2020 52
4.4 SMART GRID MARKET FOR SOFTWARE, BY TYPE 53
FIGURE 19 SMART GRID DISTRIBUTION MANAGEMENT SOFTWARE CAPTURED MAJOR MARKET SHARE IN 2020 53
4.5 SMART GRID MARKET FOR HARDWARE, BY TYPE 53
FIGURE 20 SMART METERS ACCOUNTED FOR LARGEST SHARE OF SMART GRID MARKET IN 2020 53
4.6 SMART GRID MARKET FOR SERVICES, BY TYPE 54
FIGURE 21 DEPLOYMENT AND INTEGRATION SERVICES HELD LARGEST SHARE OF SMART GRID MARKET IN 2020 54
4.7 SMART GRID MARKET, BY APPLICATION 54
FIGURE 22 DISTRIBUTION APPLICATION ACCOUNTED FOR LARGEST SHARE OF SMART GRID MARKET IN 2020 54
4.8 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY 55
FIGURE 23 WIRELINE COMMUNICATION TECHNOLOGY ACCOUNTED FOR LARGEST SHARE OF SMART GRID MARKET IN 2020 55
4.9 SMART GRID MARKET, BY REGION 55
FIGURE 24 ASIA PACIFIC TO RECORD HIGHEST CAGR IN SMART GRID MARKET DURING FORECAST PERIOD 55
5 MARKET OVERVIEW 56
5.1 INTRODUCTION 56
5.2 COVID-19 HEALTH ASSESSMENT 56
FIGURE 25 COVID-19 GLOBAL PROPAGATION 56
FIGURE 26 COVID-19 PROPAGATION IN SELECTED COUNTRIES 57
5.3 ROAD TO RECOVERY 58
FIGURE 27 RECOVERY ROAD FOR 2020 AND 2021 58
5.4 COVID-19 ECONOMIC ASSESSMENT 59
FIGURE 28 REVISED GDP FOR SELECT G20 COUNTRIES IN 2020 59
5.5 MARKET DYNAMICS 60
FIGURE 29 SMART GRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES 60
5.5.1 DRIVERS 60
5.5.1.1 Supportive regulatory framework of governments worldwide to promote deployment of smart grids 60
FIGURE 30 SHARE OF DIGITAL GRID INFRASTRUCTURE IN GLOBAL ELECTRICITY INVESTMENT (2014–2019) 61
5.5.1.2 Improved grid reliability and efficient outage response 61
5.5.1.3 Increased awareness about carbon footprint management 62
FIGURE 31 GLOBAL ENERGY-RELATED CO2 EMISSIONS (1990–2050) 62
5.5.1.4 Strong focus on modernization of aging grid infrastructure 63
FIGURE 32 ICT (INFORMATION AND COMMUNICATION TECHN0LOGY) ELECTRICITY DEMAND 63
FIGURE 33 ELECTRICITY DEMAND BY NETWORK-ENABLED DEVICES 64
5.5.2 RESTRAINTS 64
5.5.2.1 High installation cost of smart grids 64
5.5.2.2 Low awareness of protocols and interoperability standards 65
5.5.3 OPPORTUNITIES 65
5.5.3.1 Creating opportunities for existing utility vendors and emerging players 65
5.5.3.2 Ongoing smart city projects in developing countries 65
5.5.3.3 Increasing inclination of automobile companies to manufacture electric vehicles based on V2G technology 66
FIGURE 34 WORLDWIDE EV SALES, MILLION UNITS, 2017–2020 66
5.5.3.4 Anticipated shift from on-premises to cloud-based systems 66

5.5.4 CHALLENGES 67
5.5.4.1 Proper storage and management of complex data generated by smart grid infrastructure 67
5.5.4.2 Cybersecurity and vulnerability issues faced by smart grid networks 67
FIGURE 35 ENTRY POINTS FOR CYBERATTACKS 68
5.5.4.3 Longer duration of return on investment for utility service providers 68
5.6 TRENDS 68
5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SMART GRID MANUFACTURERS 68
FIGURE 36 REVENUE SHIFT FOR SMART GRID 68
5.7 MARKET MAP 69
FIGURE 37 MARKET MAP FOR SMART GRID 69
TABLE 2 SMART GRID: SUPPLY CHAIN/ECOSYSTEM 70
5.8 VALUE CHAIN ANALYSIS 71
FIGURE 38 SMART GRID VALUE CHAIN ANALYSIS 71
5.8.1 RAW MATERIAL PROVIDERS/SUPPLIERS 71
5.8.2 SMART GRID MANUFACTURERS/ASSEMBLERS 71
5.8.3 DISTRIBUTORS (BUYERS)/END USERS 72
5.8.4 POST-SALES SERVICE PROVIDERS 72
5.9 TECHNOLOGY ANALYSIS 72
5.9.1 SMART GRIDS BASED ON DIFFERENT TECHNOLOGIES 72
TABLE 3 SMART GRID MARKET: LIST OF FEW TECHNOLOGIES AND THEIR APPLICATIONS 73
TABLE 4 MAJOR DIFFERENCES BETWEEN CONVENTIONAL POWER GRID AND
SMART GRID 74
5.10 SMART GRID: CODES AND REGULATIONS 74
TABLE 5 SMART GRID: CODES AND REGULATIONS 74
5.11 INNOVATION AND PATENT REGISTRATION 75
TABLE 6 SMART GRID: INNOVATION AND PATENT REGISTRATION 75
5.12 PORTER’S FIVE FORCES ANALYSIS 76
FIGURE 39 PORTER’S FIVE FORCES ANALYSIS FOR SMART GRID MARKET 76
TABLE 7 SMART GRID MARKET: PORTER’S FIVE FORCES ANALYSIS 76
5.12.1 THREAT OF SUBSTITUTES 76
5.12.2 BARGAINING POWER OF SUPPLIERS 77
5.12.3 BARGAINING POWER OF BUYERS 77
5.12.4 THREAT OF NEW ENTRANTS 77
5.12.5 INTENSITY OF COMPETITIVE RIVALRY 77
5.13 CASE STUDY ANALYSIS 78
5.13.1 STANDALONE/DECENTRALIZED MICROGRID PROVIDED BASIC ENERGY ACCESS TO ALL (INDIA) 78
5.13.2 TRILLIANT PROVIDED HYDRO ONE WITH SECUREMESH SOLUTION TO HARNESS BENEFITS OF SMART METERING AND DISTRIBUTION 78
5.13.3 SIEMENS PROVIDED TIA SOLUTIONS OF TESCO FOR WATER MANAGEMENT TO HOBBS 78
6 SMART GRID MARKET, BY COMPONENT 79
6.1 INTRODUCTION 80
FIGURE 40 SMART GRID MARKET SHARE FOR EACH COMPONENT, 2020 (%) 80
TABLE 8 SMART GRID MARKET, BY COMPONENT, 2019–2026 (USD MILLION) 81
6.2 SOFTWARE 81
FIGURE 41 SMART GRID MARKET SHARE FOR EACH SOFTWARE COMPONENT, 2020 (%) 81
TABLE 9 SMART GRID MARKET FOR SOFTWARE, BY TYPE, 2019–2026 (USD MILLION) 82
TABLE 10 SMART GRID MARKET FOR SOFTWARE, BY REGION, 2019–2026 (USD MILLION) 82
6.2.1 ADVANCED METERING INFRASTRUCTURE 83
6.2.1.1 Stringent regulations and mandates by legislative bodies to reduce energy consumption and increase energy efficiency boost demand
for AMI 83
TABLE 11 SMART GRID MARKET FOR ADVANCED METERING INFRASTRUCTURE,
BY REGION, 2019–2026 (USD MILLION) 83
6.2.2 SMART GRID DISTRIBUTION MANAGEMENT 84
6.2.2.1 High adoption of renewable energy sources and increased number of distributed renewable power generation plants augment need for Smart Grid Distribution Management software 84
TABLE 12 SMART GRID MARKET FOR SMART GRID DISTRIBUTION MANAGEMENT,
BY REGION, 2019–2026 (USD MILLION) 84
6.2.3 SMART GRID NETWORK MANAGEMENT 85
6.2.3.1 Increased use of renewable energy and limited capacity of traditional electricity grids to generate renewable energy stimulate demand for Smart Grid Network Management software 85
TABLE 13 SMART GRID MARKET FOR SMART GRID NETWORK MANAGEMENT,
BY REGION, 2019–2026 (USD MILLION) 85
6.2.4 GRID ASSET MANAGEMENT 86
6.2.4.1 Strong need to reduce failure and repair costs of grids spurs deployment of Grid Asset Management software 86
TABLE 14 SMART GRID MARKET FOR GRID ASSET MANAGEMENT, BY REGION,
2019–2026 (USD MILLION) 86
6.2.5 SUBSTATION AUTOMATION 87
6.2.5.1 Superior ability of Substation Automation software to recover power at faster rate and prevent blackouts in power systems triggers its adoption by smart grid system manufacturers 87
TABLE 15 SMART GRID MARKET FOR SUBSTATION AUTOMATION, BY REGION,
2019–2026 (USD MILLION) 87
6.2.6 SMART GRID SECURITY 88
6.2.6.1 Heightened threat of cyberattacks on smart grids creates need for Smart Grid Security software 88
TABLE 16 SMART GRID MARKET FOR SMART GRID SECURITY, BY REGION,
2019–2026 (USD MILLION) 88
6.2.7 BILLING AND CUSTOMER INFORMATION SYSTEM 88
6.2.7.1 Elevated demand for efficient billing and information collection capabilities encourages use of Billing and Customer Information System 88
TABLE 17 SMART GRID MARKET FOR BILLING AND CUSTOMER INFORMATION SYSTEM, BY REGION, 2019–2026 (USD MILLION) 89
6.3 HARDWARE 90
FIGURE 42 SMART GRID MARKET SHARE FOR EACH HARDWARE COMPONENT, 2020 (%) 90
TABLE 18 SMART GRID MARKET FOR HARDWARE COMPONENT, BY TYPE,
2019–2026 (USD MILLION) 90
TABLE 19 SMART GRID MARKET FOR HARDWARE, BY REGION,
2019–2026 (USD MILLION) 91
6.3.1 SMART METERS 91
6.3.1.1 High emphasis on energy savings by using energy-efficient appliances accelerates demand for smart meters 91
TABLE 20 SMART GRID MARKET FOR SMART METERS, BY REGION,
2019–2026 (USD MILLION) 92
6.3.2 SENSORS 92
6.3.2.1 Distinguished ability of sensors to identify risks well in advance promotes their use in smart grids 92
TABLE 21 SMART GRID MARKET FOR SENSORS, BY REGION,
2019–2026 (USD MILLION) 92
6.3.3 PROGRAMMABLE LOGIC CONTROLLERS 93
6.3.3.1 Rugged design of PLCs makes them suitable for repetitive tasks and improved communication bandwidth, enabling their use to make logic-based decisions 93
TABLE 22 SMART GRID MARKET FOR PROGRAMMABLE LOGIC CONTROLLERS,
BY REGION, 2019–2026 (USD MILLION) 93
6.3.4 OTHERS 94
TABLE 23 SMART GRID MARKET FOR OTHER HARDWARE COMPONENTS,
BY REGION, 2019–2026 (USD MILLION) 94
6.4 SERVICES 95
FIGURE 43 SMART GRID MARKET SHARE FOR EACH SERVICE TYPE, 2020 (%) 95
TABLE 24 SMART GRID MARKET FOR SERVICES, BY SERVICES TYPE,
2019–2026 (USD MILLION) 95
TABLE 25 SMART GRID MARKET FOR SERVICES, BY REGION,
2019–2026 (USD MILLION) 96
6.4.1 CONSULTING 96
6.4.1.1 Need to deliver maximum product assurance drives demand for consulting services 96
TABLE 26 SMART GRID MARKET FOR CONSULTING SERVICES, BY REGION,
2019–2026 (USD MILLION) 96
6.4.2 DEPLOYMENT AND INTEGRATION 97
6.4.2.1 Requirement to streamline operations of smart grid components boosts adoption of deployment and integration services 97
TABLE 27 SMART GRID MARKET FOR DEPLOYMENT AND INTEGRATION SERVICES,
BY REGION, 2019–2026 (USD MILLION) 97
6.4.3 SUPPORT AND MAINTENANCE 98
6.4.3.1 Necessity of support and maintenance services to ensure reduced downtime of operations and higher productivity of smart grids 98
TABLE 28 SMART GRID MARKET FOR SUPPORT AND MAINTENANCE SERVICES,
BY REGION, 2019–2026 (USD MILLION) 98
7 SMART GRID MARKET, BY APPLICATION 99
7.1 INTRODUCTION 100
FIGURE 44 SMART GRID MARKET, BY APPLICATION, 2020 (%) 100
TABLE 29 SMART GRID MARKET, BY APPLICATION, 2019–2026 (USD MILLION) 100
7.2 GENERATION 101
7.2.1 SMART GRIDS HELP POWER GENERATION RESOURCES TO OPTIMIZE ENERGY PRODUCTION 101
TABLE 30 SMART GRID MARKET FOR GENERATION APPLICATION, BY REGION,
2019–2026 (USD MILLION) 101
7.3 TRANSMISSION 102
7.3.1 EFFICIENT AUTOMATED TRANSMISSION NETWORK CARRIES POWER FROM BULK GENERATION FACILITIES TO POWER DISTRIBUTION SYSTEMS 102
TABLE 31 SMART GRID MARKET FOR TRANSMISSION APPLICATION, BY REGION,
2019–2026 (USD MILLION) 102
7.4 DISTRIBUTION 103
7.4.1 DISTRIBUTION SUBSTATIONS ARE LIKELY TO WITNESS HIGH DEMAND FROM NORTH AMERICA 103
TABLE 32 SMART GRID MARKET FOR DISTRIBUTION APPLICATION, BY REGION,
2019–2026 (USD MILLION) 103
7.5 CONSUMPTION 104
7.5.1 UNIVERSAL ACCEPTANCE OF ELECTRICAL APPLIANCES HAS LED TO INCREASING POWER CONSUMPTION 104
TABLE 33 SMART GRID MARKET FOR CONSUMPTION APPLICATION, BY REGION,
2019–2026 (USD MILLION) 104
8 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY 105
8.1 INTRODUCTION 106
FIGURE 45 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY, 2020 (%) 106
TABLE 34 SMART GRID MARKET, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 106
8.2 WIRELINE COMMUNICATION TECHNOLOGY 107
8.2.1 INCREASED NEED FOR EFFECTIVE COMMUNICATION TO DRIVE REQUIREMENT FOR WIRELINE COMMUNICATION TECHNOLOGY-BASED SMART GRIDS 107
TABLE 35 SMART GRID MARKET FOR WIRELINE COMMUNICATION TECHNOLOGY,
BY REGION, 2019–2026 (USD MILLION) 107
8.3 WIRELESS COMMUNICATION TECHNOLOGY 108
8.3.1 REDUCED MAINTENANCE COST AND EASY ACCESSIBILITY OF DATA FROM REMOTE LOCATIONS TO BOOST DEMAND FOR WIRELESS COMMUNICATION TECHNOLOGY-BASED SMART GRIDS 108
TABLE 36 SMART GRID MARKET FOR WIRELESS COMMUNICATION TECHNOLOGY,
BY REGION, 2019–2026 (USD MILLION) 108

9 GEOGRAPHIC ANALYSIS 109
9.1 INTRODUCTION 110
FIGURE 46 SMART GRID MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR
FROM 2021 TO 2026 110
FIGURE 47 SMART GRID MARKET SHARE FOR EACH REGION, 2020 (%) 111
TABLE 37 SMART GRID MARKET, BY REGION, 2019–2026 (USD MILLION) 111
9.2 NORTH AMERICA 112
FIGURE 48 NORTH AMERICA: SNAPSHOT, 2020 112
9.2.1 BY COMPONENT 113
TABLE 38 SMART GRID MARKET IN NORTH AMERICA, BY COMPONENT,
2019–2026 (USD MILLION) 113
TABLE 39 SMART GRID MARKET IN NORTH AMERICA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 113
TABLE 40 SMART GRID MARKET IN NORTH AMERICA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 114
TABLE 41 SMART GRID MARKET IN NORTH AMERICA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 114
9.2.2 BY APPLICATION 114
TABLE 42 SMART GRID MARKET IN NORTH AMERICA, BY APPLICATION,
2019–2026 (USD MILLION) 114
9.2.3 BY COMMUNICATION TECHNOLOGY 115
TABLE 43 SMART GRID MARKET IN NORTH AMERICA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 115
9.2.4 BY COUNTRY 115
TABLE 44 SMART GRID MARKET IN NORTH AMERICA, BY COUNTRY,
2019–2026 (USD MILLION) 115
9.2.4.1 US 116
9.2.4.1.1 Heavy investments in digitalization of electricity infrastructure and data analytics by power industry propel smart grid market growth in United States 116
9.2.4.1.2 By component 117
TABLE 45 SMART GRID MARKET IN US, BY COMPONENT, 2019–2026 (USD MILLION) 117
TABLE 46 SMART GRID MARKET IN US FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 117
TABLE 47 SMART GRID MARKET IN US FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 117
TABLE 48 SMART GRID MARKET IN US FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 118
9.2.4.1.3 By application 118
TABLE 49 SMART GRID MARKET IN US, BY APPLICATION, 2019–2026 (USD MILLION) 118
9.2.4.1.4 By communication technology 118
TABLE 50 SMART GRID MARKET IN US, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 118

9.2.4.2 Canada 119
9.2.4.2.1 High investments by government in utility-led projects
to reduce GHG emissions and upgrade electric grid infrastructure stimulate smart grid market growth in Canada 119
9.2.4.2.2 By component 119
TABLE 51 SMART GRID MARKET IN CANADA, BY COMPONENT,
2019–2026 (USD MILLION) 119
TABLE 52 SMART GRID MARKET IN CANADA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 120
TABLE 53 SMART GRID MARKET IN CANADA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 120
TABLE 54 SMART GRID MARKET IN CANADA FOR SERVICES, BYTYPE,
2019–2026 (USD MILLION) 121
9.2.4.2.3 By application 121
TABLE 55 SMART GRID MARKET IN CANADA, BY APPLICATION,
2019–2026 (USD MILLION) 121
9.2.4.2.4 By communication technology 121
TABLE 56 SMART GRID MARKET IN CANADA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 121
9.2.4.3 Mexico 122
9.2.4.3.1 Massive rollout plans and government support for smart meters accelerate smart grid market growth 122
9.2.4.3.2 By component 122
TABLE 57 SMART GRID MARKET IN MEXICO, BY COMPONENT,
2019–2026 (USD MILLION) 122
TABLE 58 SMART GRID MARKET IN MEXICO FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 122
TABLE 59 SMART GRID MARKET IN MEXICO FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 123
TABLE 60 SMART GRID MARKET IN MEXICO FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 123
9.2.4.3.3 By application 123
TABLE 61 SMART GRID MARKET IN MEXICO, BY APPLICATION,
2019–2026 (USD MILLION) 123
9.2.4.3.4 By communication technology 124
TABLE 62 SMART GRID MARKET IN MEXICO, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 124
9.3 EUROPE 124
FIGURE 49 EUROPE: MARKET SNAPSHOT, 2020 125
9.3.1 BY COMPONENT 126
TABLE 63 SMART GRID MARKET IN EUROPE, BY COMPONENT,
2019–2026 (USD MILLION) 126
TABLE 64 SMART GRID MARKET IN EUROPE FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 126
TABLE 65 SMART GRID MARKET IN EUROPE FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 127
TABLE 66 SMART GRID MARKET IN EUROPE FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 127
9.3.2 BY APPLICATION 127
TABLE 67 SMART GRID MARKET IN EUROPE, BY APPLICATION,
2019–2026 (USD MILLION) 127
9.3.3 BY COMMUNICATION TECHNOLOGY 128
TABLE 68 SMART GRID MARKET IN EUROPE, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 128
9.3.4 BY COUNTRY 128
TABLE 69 SMART GRID MARKET IN EUROPE, BY COUNTRY, 2019–2026 (USD MILLION) 128
9.3.4.1 UK 129
9.3.4.1.1 Smart grid technology to help UK transform into low-carbon economy, meet its carbon reduction targets, and ensure energy security 129
9.3.4.1.2 By component 129
TABLE 70 SMART GRID MARKET IN UK, BY COMPONENT, 2019–2026 (USD MILLION) 129
TABLE 71 SMART GRID MARKET IN UK FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 129
TABLE 72 SMART GRID MARKET IN UK FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 130
TABLE 73 SMART GRID MARKET IN UK FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 130
9.3.4.1.3 By application 130
TABLE 74 SMART GRID MARKET IN UK, BY APPLICATION, 2019–2026 (USD MILLION) 130
9.3.4.1.4 By communication technology 131
TABLE 75 SMART GRID MARKET IN UK, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 131
9.3.4.2 Germany 131
9.3.4.2.1 Smart meter installment has made tracking energy usage easier 131
9.3.4.2.2 By component 131
TABLE 76 SMART GRID MARKET IN GERMANY, BY COMPONENT,
2019–2026 (USD MILLION) 131
TABLE 77 SMART GRID MARKET IN GERMANY FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 132
TABLE 78 SMART GRID MARKET IN GERMANY FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 132
TABLE 79 SMART GRID MARKET IN GERMANY FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 133
9.3.4.2.3 By application 133
TABLE 80 SMART GRID MARKET IN GERMANY, BY APPLICATION,
2019–2026 (USD MILLION) 133
9.3.4.2.4 By communication technology 133
TABLE 81 SMART GRID MARKET IN GERMANY, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 133

9.3.4.3 France 134
9.3.4.3.1 Strong need for efficient grid operations propelling
market growth 134
9.3.4.3.2 By component 134
TABLE 82 SMART GRID MARKET IN FRANCE, BY COMPONENT,
2019–2026 (USD MILLION) 134
TABLE 83 SMART GRID MARKET IN FRANCE FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 134
TABLE 84 SMART GRID MARKET IN FRANCE FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 135
TABLE 85 SMART GRID MARKET IN FRANCE FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 135
9.3.4.3.3 By application 135
TABLE 86 SMART GRID MARKET IN FRANCE, BY APPLICATION,
2019–2026 (USD MILLION) 135
9.3.4.3.4 By communication technology 136
TABLE 87 SMART GRID MARKET IN FRANCE, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 136
9.3.4.4 Italy 136
9.3.4.4.1 Italy is known for its aggressive smart meter rollout 136
9.3.4.4.2 By component 136
TABLE 88 SMART GRID MARKET IN ITALY, BY COMPONENT, 2019–2026 (USD MILLION) 136
TABLE 89 SMART GRID MARKET IN ITALY FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 137
TABLE 90 SMART GRID MARKET IN ITALY FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 137
TABLE 91 SMART GRID MARKET IN ITALY FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 137
9.3.4.4.3 By application 138
TABLE 92 SMART GRID MARKET IN ITALY, BY APPLICATION, 2019–2026 (USD MILLION) 138
9.3.4.4.4 By communication technology 138
TABLE 93 SMART GRID MARKET IN ITALY, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 138
9.3.4.5 Russia 138
9.3.4.5.1 Urgent requirement to improve power transmission networks boosts demand for smart grid technology in Russia 138
9.3.4.5.2 By component 139
TABLE 94 SMART GRID MARKET IN RUSSIA, BY COMPONENT,
2019–2026 (USD MILLION) 139
TABLE 95 SMART GRID MARKET IN RUSSIA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 139
TABLE 96 SMART GRID MARKET IN RUSSIA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 139
TABLE 97 SMART GRID MARKET IN RUSSIA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 140

9.3.4.5.3 By application 140
TABLE 98 SMART GRID MARKET IN RUSSIA, BY APPLICATION,
2019–2026 (USD MILLION) 140
9.3.4.5.4 By communication technology 140
TABLE 99 SMART GRID MARKET IN RUSSIA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 140
9.3.4.6 Rest of Europe 141
9.3.4.6.1 By component 141
TABLE 100 SMART GRID MARKET IN REST OF EUROPE, BY COMPONENT,
2019–2026 (USD MILLION) 141
TABLE 101 SMART GRID MARKET IN REST OF EUROPE FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 142
TABLE 102 SMART GRID MARKET IN REST OF EUROPE FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 142
TABLE 103 SMART GRID MARKET IN REST OF EUROPE FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 143
9.3.4.6.2 By application 143
TABLE 104 SMART GRID MARKET IN REST OF EUROPE, BY APPLICATION,
2019–2026 (USD MILLION) 143
9.3.4.6.3 By communication technology 143
TABLE 105 SMART GRID MARKET IN REST OF EUROPE, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 143
9.4 ASIA PACIFIC 144
9.4.1 BY COMPONENT 144
TABLE 106 SMART GRID MARKET IN ASIA PACIFIC, BY COMPONENT,
2019–2026 (USD MILLION) 144
TABLE 107 SMART GRID MARKET IN ASIA PACIFIC FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 144
TABLE 108 SMART GRID MARKET IN ASIA PACIFIC FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 145
TABLE 109 SMART GRID MARKET IN ASIA PACIFIC FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 145
9.4.2 BY APPLICATION 145
TABLE 110 SMART GRID MARKET IN ASIA PACIFIC, BY APPLICATION,
2019–2026 (USD MILLION) 145
9.4.3 BY COMMUNICATION TECHNOLOGY 146
TABLE 111 SMART GRID MARKET IN ASIA PACIFIC, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 146
9.4.4 BY COUNTRY 146
TABLE 112 SMART GRID MARKET IN ASIA PACIFIC, BY COUNTRY,
2019–2026 (USD MILLION) 146
9.4.4.1 China 147
9.4.4.1.1 Increased deployment of solar PV systems fuels smart grid market growth in China 147
9.4.4.1.2 By component 147
TABLE 113 SMART GRID MARKET IN CHINA, BY COMPONENT,
2019–2026 (USD MILLION) 147
TABLE 114 SMART GRID MARKET IN CHINA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 147
TABLE 115 SMART GRID MARKET IN CHINA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 148
TABLE 116 SMART GRID MARKET IN CHINA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 148
9.4.4.1.3 By application 148
TABLE 117 SMART GRID MARKET IN CHINA, BY APPLICATION,
2019–2026 (USD MILLION) 148
9.4.4.1.4 By communication technology 149
TABLE 118 SMART GRID MARKET IN CHINA, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 149
9.4.4.2 Japan 149
9.4.4.2.1 Japan installed smart meters to host Olympic games
in 2020 149
9.4.4.2.2 By component 149
TABLE 119 SMART GRID MARKET IN JAPAN, BY COMPONENT,
2019–2026 (USD MILLION) 149
TABLE 120 SMART GRID MARKET IN JAPAN FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 150
TABLE 121 SMART GRID MARKET IN JAPAN FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 150
TABLE 122 SMART GRID MARKET IN JAPAN FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 150
9.4.4.2.3 By application 151
TABLE 123 SMART GRID MARKET IN JAPAN, BY APPLICATION,
2019–2026 (USD MILLION) 151
9.4.4.2.4 By communication technology 151
TABLE 124 SMART GRID MARKET IN JAPAN, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 151
9.4.4.3 India 151
9.4.4.3.1 Government policies for energy access, high adoption of renewable resources, and increased number of smart city projects are pushing India’s smart grid market growth 151
9.4.4.3.2 By component 152
TABLE 125 SMART GRID MARKET IN INDIA, BY COMPONENT,
2019–2026 (USD MILLION) 152
TABLE 126 SMART GRID MARKET IN INDIA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 152
TABLE 127 SMART GRID MARKET IN INDIA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 153
TABLE 128 SMART GRID MARKET IN INDIA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 153
9.4.4.3.3 By application 153
TABLE 129 SMART GRID MARKET IN INDIA, BY APPLICATION,
2019–2026 (USD MILLION) 153
9.4.4.3.4 By communication technology 154
TABLE 130 SMART GRID MARKET IN INDIA, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 154
9.4.4.4 South Korea 154
9.4.4.4.1 Urgent need to build smart infrastructure for providing consumer, transportation, electricity, and several other services creates demand for smart grid technology 154
9.4.4.4.2 By component 154
TABLE 131 SMART GRID MARKET IN SOUTH KOREA, BY COMPONENT,
2019–2026 (USD MILLION) 154
TABLE 132 SMART GRID MARKET IN SOUTH KOREA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 155
TABLE 133 SMART GRID MARKET IN SOUTH KOREA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 155
TABLE 134 SMART GRID MARKET IN SOUTH KOREA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 156
9.4.4.4.3 By application 156
TABLE 135 SMART GRID MARKET IN SOUTH KOREA, BY APPLICATION,
2019–2026 (USD MILLION) 156
9.4.4.4.4 By communication technology 156
TABLE 136 SMART GRID MARKET IN SOUTH KOREA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 156
9.4.4.5 Australia 157
9.4.4.5.1 Immediate requirement to increase operational efficiency of utilities sector spurs demand for smart grids 157
9.4.4.5.2 By component 157
TABLE 137 SMART GRID MARKET IN AUSTRALIA, BY COMPONENT,
2019–2026 (USD MILLION) 157
TABLE 138 SMART GRID MARKET IN AUSTRALIA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 158
TABLE 139 SMART GRID MARKET IN AUSTRALIA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 158
TABLE 140 SMART GRID MARKET IN AUSTRALIA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 159
9.4.4.5.3 By application 159
TABLE 141 SMART GRID MARKET IN AUSTRALIA, BY APPLICATION,
2019–2026 (USD MILLION) 159
9.4.4.5.4 By communication technology 159
TABLE 142 SMART GRID MARKET IN AUSTRALIA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 159
9.4.4.6 Rest of Asia Pacific 160
9.4.4.6.1 By component 160
TABLE 143 SMART GRID MARKET IN REST OF ASIA PACIFIC, BY COMPONENT,
2019–2026 (USD MILLION) 160
TABLE 144 SMART GRID MARKET IN REST OF ASIA PACIFIC FOR SOFTWARE, BY TYPE, 2019–2026 (USD MILLION) 160
TABLE 145 SMART GRID MARKET IN REST OF ASIA PACIFIC FOR HARDWARE, BY TYPE, 2019–2026 (USD MILLION) 161
TABLE 146 SMART GRID MARKET IN REST OF ASIA PACIFIC FOR SERVICES, BY TYPE, 2019–2026 (USD MILLION) 161
9.4.4.6.2 By application 161
TABLE 147 SMART GRID MARKET IN REST OF ASIA PACIFIC, BY APPLICATION,
2019–2026 (USD MILLION) 161
9.4.4.6.3 By communication technology 162
TABLE 148 SMART GRID MARKET IN REST OF ASIA PACIFIC,
BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 162
9.5 MIDDLE EAST AND AFRICA 162
9.5.1 BY COMPONENT 163
TABLE 149 SMART GRID MARKET IN MIDDLE EAST AND AFRICA, BY COMPONENT,
2019–2026 (USD MILLION) 163
TABLE 150 SMART GRID MARKET IN MIDDLE EAST AND AFRICA FOR SOFTWARE,
BY TYPE, 2019–2026 (USD MILLION) 163
TABLE 151 SMART GRID MARKET IN MIDDLE EAST AND AFRICA FOR HARDWARE,
BY TYPE, 2019–2026 (USD MILLION) 164
TABLE 152 SMART GRID MARKET IN MIDDLE EAST AND AFRICA FOR SERVICES,
BY TYPE, 2019–2026 (USD MILLION) 164
9.5.2 BY APPLICATION 164
TABLE 153 SMART GRID MARKET IN MIDDLE EAST AND AFRICA, BY APPLICATION, 2019–2026 (USD MILLION) 164
9.5.3 BY COMMUNICATION TECHNOLOGY 165
TABLE 154 SMART GRID MARKET IN MIDDLE EAST AND AFRICA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 165
9.5.4 BY COUNTRY 165
TABLE 155 SMART GRID MARKET IN MIDDLE EAST AND AFRICA, BY COUNTRY,
2019–2026 (USD MILLION) 165
9.5.4.1 UAE 166
9.5.4.1.1 Strong focus of country on using renewable sources to produce energy by 2030 would accelerate demand for smart grid technology 166
9.5.4.1.2 By component 166
TABLE 156 SMART GRID MARKET IN UAE, BY COMPONENT, 2019–2026 (USD MILLION) 166
TABLE 157 SMART GRID MARKET IN UAE FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 166
TABLE 158 SMART GRID MARKET IN UAE FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 167
TABLE 159 SMART GRID MARKET IN UAE FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 167
9.5.4.1.3 By application 167
TABLE 160 SMART GRID MARKET IN UAE, BY APPLICATION, 2019–2026 (USD MILLION) 167
9.5.4.1.4 By communication technology 168
TABLE 161 SMART GRID MARKET IN UAE, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 168
9.5.4.2 Saudi Arabia 168
9.5.4.2.1 Rapid development of advanced transmission systems would propel smart grid market growth in Saudi Arabia 168
9.5.4.2.2 By component 168
TABLE 162 SMART GRID MARKET IN SAUDI ARABIA, BY COMPONENT,
2019–2026 (USD MILLION) 168
TABLE 163 SMART GRID MARKET IN SAUDI ARABIA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 169
TABLE 164 SMART GRID MARKET IN SAUDI ARABIA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 169
TABLE 165 SMART GRID MARKET IN SAUDI ARABIA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 170
9.5.4.2.3 By application 170
TABLE 166 SMART GRID MARKET IN SAUDI ARABIA, BY APPLICATION,
2019–2026 (USD MILLION) 170
9.5.4.2.4 By communication technology 170
TABLE 167 SMART GRID MARKET IN SAUDI ARABIA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 170
9.5.4.3 Qatar 171
9.5.4.3.1 Desperate need to upgrade energy transmission
and distribution networks promotes use of smart grid technology in Qatar 171
9.5.4.3.2 By component 171
TABLE 168 SMART GRID MARKET IN QATAR, BY COMPONENT,
2019–2026 (USD MILLION) 171
TABLE 169 SMART GRID MARKET IN QATAR FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 172
TABLE 170 SMART GRID MARKET IN QATAR FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 172
TABLE 171 SMART GRID MARKET IN QATAR FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 172
9.5.4.3.3 By application 173
TABLE 172 SMART GRID MARKET IN QATAR, BY APPLICATION,
2019–2026 (USD MILLION) 173
9.5.4.3.4 By communication technology 173
TABLE 173 SMART GRID MARKET IN QATAR, BY COMMUNICATION TECHNOLOGY,
2019–2026 (USD MILLION) 173
9.5.4.4 South Africa 174
9.5.4.4.1 Immediate need to reduce utility debt drives adoption of smart grid solutions 174
9.5.4.4.2 By component 174
TABLE 174 SMART GRID MARKET IN SOUTH AFRICA, BY COMPONENT,
2019–2026 (USD MILLION) 174
TABLE 175 SMART GRID MARKET IN SOUTH AFRICA FOR SOFTWARE, BY TYPE,
2019–2026 (USD MILLION) 174
TABLE 176 SMART GRID MARKET IN SOUTH AFRICA FOR HARDWARE, BY TYPE,
2019–2026 (USD MILLION) 175
TABLE 177 SMART GRID MARKET IN SOUTH AFRICA FOR SERVICES, BY TYPE,
2019–2026 (USD MILLION) 175

9.5.4.4.3 By application 175
TABLE 178 SMART GRID MARKET IN SOUTH AFRICA, BY APPLICATION,
2019–2026 (USD MILLION) 175
9.5.4.4.4 By communication technology 176
TABLE 179 SMART GRID MARKET IN SOUTH AFRICA, BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 176
9.5.4.5 Rest of Middle East and Africa 176
9.5.4.5.1 By component 177
TABLE 180 SMART GRID MARKET IN REST OF MIDDLE EAST AND AFRICA,
BY COMPONENT, 2019–2026 (USD MILLION) 177
TABLE 181 SMART GRID MARKET IN REST OF MIDDLE EAST AND AFRICA FOR SOFTWARE, BY TYPE, 2019–2026 (USD MILLION) 177
TABLE 182 SMART GRID MARKET IN REST OF MIDDLE EAST AND AFRICA FOR HARDWARE, BY TYPE, 2019–2026 (USD MILLION) 178
TABLE 183 SMART GRID MARKET IN REST OF MIDDLE EAST AND AFRICA FOR SERVICES, BY TYPE, 2019–2026 (USD MILLION) 178
9.5.4.5.2 By application 178
TABLE 184 SMART GRID MARKET IN REST OF MIDDLE OF EAST AND AFRICA,
BY APPLICATION, 2019–2026 (USD MILLION) 178
9.5.4.5.3 By communication technology 179
TABLE 185 SMART GRID MARKET IN REST OF MIDDLE EAST AND AFRICA,
BY COMMUNICATION TECHNOLOGY, 2019–2026 (USD MILLION) 179

Mobile Mass Spectrometers Market by Application(Homeland Security, Military & Defence, Environmental monitoring, Emergency/rapid response & Disaster M...

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# of Pages:        100

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1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 KEY EXCLUSIONS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 ILLUSTRATION FOR THE MARKET SIZING OF THE GLOBAL MOBILE MASS SPECTROMETERS MARKET
2.3 OVERALL WORKFLOW OF PRIMARY RESEARCH
2.3.1 PRIMARY SAMPLE SIZE
2.3.2 INDICATIVE LIST OF PRIMARY STAKEHOLDERS TARGETED
3 EXECUTIVE SUMMARY
3.1 GLOBAL MOBILE MASS SPECTROMETERS MARKET LANDSCAPE, 2020 VS. 2026
FIGURE1 GLOBAL MOBILE MASS SPECTROMETERS MARKET, BY VALUE (USD MILLION)
FIGURE2 GLOBAL MOBILE MASS SPECTROMETERS MARKET, BY VOLUME (UNITS)
3.2 GLOBAL MOBILE MASS SPECTROMETERS MARKET LANDSCAPE FOR KEY APPLICATIONS, 2020 VS. 2026
4 MARKET OVERVIEW
4.1 MARKET DYNAMICS
4.1.1 MAJOR DRIVERS
4.1.2 KEY RESTRAINTS
4.1.3 KEY GROWTH OPPORTUNITIES
4.2 COVID- SPECIFIC TRENDS
4.3 GLOBAL PRICING TREND ANALYSIS (AS OF 2020)
4.4 GLOBAL PATENT ANALYSIS
5 MOBILE MASS SPECTROMETERS MARKET VALUE DATA,
BY APPLICATION (USD MILLION; 2019 — 2026)
5.1 MOBILE MASS SPECTROMETERS MARKET, BY APPLICATION
TABLE1 MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
TABLE2 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR ENVIRONMENTAL TESTING, BY REGION, 2019-2026 (USD MILLION)
TABLE3 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR NARCOTICS DETECTION, BY REGION, 2019-2026 (USD MILLION)
TABLE4 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR RAPID RESPONSE & DISASTER MANAGEMENT, BY REGION, 2019-2026 (USD MILLION)
TABLE5 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR MILITARY APPLICATIONS, BY REGION, 2019-2026 (USD MILLION)
TABLE6 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR HOMELAND SECURITY, BY REGION, 2019-2026 (USD MILLION)
TABLE7 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR FORENSIC APPLICATIONS, BY REGION, 2019-2026 (USD MILLION)
TABLE8 MOBILE MASS SPECTROMETERS MARKET VALUE DATA FOR OTHER APPLICATIONS, BY REGION, 2019-2026 (USD MILLION)
6 MOBILE MASS SPECTROMETERS MARKET VALUE DATA,
BY REGION (USD MILLION; 2019 — 2026)
6.1 GLOBAL
TABLE9 MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY REGION, 2019-2026 (USD MILLION)
TABLE10 MOBILE MASS SPECTROMETERS MARKET VOLUME DATA, BY REGION, 2019-2026 (UNITS)
6.2 NORTH AMERICA
TABLE11 NORTH AMERICA: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
TABLE12 NORTH AMERICA: MOBILE MASS SPECTROMETERS MARKET VOLUME DATA, BY COUNTRY, 2019-2026 (UNITS)
6.2.1 US
TABLE13 US: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.2.2 CANADA
TABLE14 CANADA: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.3 EUROPE
TABLE15 EUROPE: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
TABLE16 EUROPE: MOBILE MASS SPECTROMETERS MARKET VOLUME DATA, BY COUNTRY, 2019-2026 (UNITS)
6.3.1 GERMANY
TABLE17 GERMANY: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.3.2 UK
TABLE18 UK: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.3.3 FRANCE
TABLE19 FRANCE: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.3.4 ITALY
TABLE20 ITALY: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.3.5 REST OF EUROPE
TABLE21 REST OF EUROPE: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.4 ASIA-PACIFIC
TABLE22 ASIA PACIFIC: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
TABLE23 ASIA PACIFIC: MOBILE MASS SPECTROMETERS MARKET VOLUME DATA, BY COUNTRY, 2019-2026 (UNITS)
6.4.1 CHINA
TABLE24 CHINA: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.4.2 JAPAN
TABLE25 JAPAN: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.4.3 SOUTH KOREA
TABLE26 SOUTH KOREA: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.4.4 REST OF APAC
TABLE27 REST OF ASIA PACIFIC: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION)
6.5 REST OF WORLD
TABLE28 REST OF THE WORLD: MOBILE MASS SPECTROMETERS MARKET VALUE DATA, BY APPLICATION, 2019-2026 (USD MILLION
7 COMPETITIVE LANDSCAPE
7.1 GLOBAL MOBILE MASS SPECTROMETERS MARKET SHARE BY MAJOR PLAYER
7.1.1 MAJOR GLOBAL PLAYERS FOR MOBILE MASS SPECTROMETERS (2020)
7.2 DETAILED MAPPING OF MAJOR BRANDS
7.3 MAJOR STRATEGIC DEVELOPMENTS UNDERTAKEN BY LEADING VENDORS DURING 2018–2021
8 COMPANY PROFILES
(Business overview, Products offered, Recent developments, MNM view)*
8.1 1ST DETECT
8.2 908 DEVICES
8.3 BAYSPEC
8.4 BRUKER
8.5 ESS
8.6 TELEDYNE FLIR LLC.
8.7 FLUID INCLUSION TECHNOLOGIES
8.8 FOCUSED PHOTONICS
8.9 GASOMETRIX
8.10 GUANGZHOU HEXIN INSTRUMENT CO., LTD.
8.11 HIDEN ANALYTICAL
8.12 INFICON
8.13 KORE TECHNOLOGY
8.14 MASSTECH
8.15 PERKINELMER
8.16 PURDUE UNIVERSITY
8.17 PURSPEC
*Business overview, Products offered, Recent developments, MNM view might not be captured in case of unlisted companies.
9 APPENDIX
9.1 KEY VERBATIM
9.2 DISCUSSION GUIDE
9.3 AUTHOR DETAILS

Electrical Digital Twin Market by Twin Type (Gas & Steam Power Plant, Wind Farm, Digital Grid, Others), Usage Type (Product, Process, System), Deploym...

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1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 DEFINITION 26
1.3 INCLUSIONS AND EXCLUSIONS 26
1.3.1 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION 26
1.4 MARKET SCOPE 27
1.4.1 ELECTRICAL DIGITAL TWIN MARKET: SEGMENTATION 27
1.4.2 GEOGRAPHIC SCOPE 27
1.5 YEARS CONSIDERED 28
1.6 CURRENCY 28
1.7 LIMITATIONS 28
1.8 STAKEHOLDERS 29
1.9 SUMMARY OF CHANGES 29
2 RESEARCH METHODOLOGY 31
2.1 RESEARCH DATA 31
FIGURE 1 ELECTRICAL DIGITAL TWIN MARKET: RESEARCH DESIGN 32
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 33
FIGURE 2 DATA TRIANGULATION METHODOLOGY 33
2.2.1 SECONDARY DATA 34
2.2.1.1 Key data from secondary sources 34
2.2.2 PRIMARY DATA 34
2.2.2.1 Key data from primary sources 35
2.2.2.2 Breakdown of primaries 35
2.3 MARKET SIZE ESTIMATION 36
2.3.1 BOTTOM-UP APPROACH 36
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 37
2.3.2 TOP-DOWN APPROACH 37
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 37
2.3.3 DEMAND SIDE METRICS 38
FIGURE 5 MAIN METRICS CONSIDERED FOR ANALYSING AND ASSESSING DEMAND FOR ELECTRICAL DIGITAL TWINS 38
2.3.3.1 Demand side calculations 38
2.3.3.2 Assumptions for demand side analysis 39
2.3.4 SUPPLY SIDE ANALYSIS 39
FIGURE 6 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF ELECTRICAL DIGITAL TWINS 39
FIGURE 7 ELECTRICAL DIGITAL TWIN MARKET: SUPPLY SIDE ANALYSIS 40
2.3.4.1 Supply side calculations 40
2.3.4.2 Assumptions for supply side 40
2.3.5 FORECAST 40
3 EXECUTIVE SUMMARY 41
TABLE 1 ELECTRICAL DIGITAL TWIN MARKET SNAPSHOT 41
FIGURE 8 NORTH AMERICA DOMINATED ELECTRICAL DIGITAL TWIN MARKET IN 2020 42
FIGURE 9 DIGITAL GAS & STEAM POWER PLANT SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, FROM 2021 TO 2026 43
FIGURE 10 SYSTEM DIGITAL TWIN SEGMENT TO LEAD ELECTRICAL DIGITAL TWIN MARKET DURING FORECAST PERIOD 43
FIGURE 11 ON-PREMISE SEGMENT TO HOLD LARGER SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, DURING FORECAST PERIOD 44
FIGURE 12 UTILITIES SEGMENT TO ACCOUNT FOR LARGER SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY END USER, DURING FORECAST PERIOD 44
FIGURE 13 ASSET PERFORMANCE MANAGEMENT SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, FROM 2021 TO 2026 45
4 PREMIUM INSIGHTS 46
4.1 ATTRACTIVE OPPORTUNITIES IN ELECTRICAL DIGITAL TWIN MARKET 46
FIGURE 14 INTEGRATION OF RENEWABLE ENERGY INTO ELECTRIC DISTRIBUTION AND TRANSMISSION SYSTEMS AND DECENTRALIZATION OF DISTRIBUTED ENERGY RESOURCES TO DRIVE GROWTH OF ELECTRICAL DIGITAL TWIN MARKET BETWEEN 2021 AND 2026 46
4.2 ELECTRICAL DIGITAL TWIN MARKET, BY REGION 47
FIGURE 15 NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 47
4.3 NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE AND COUNTRY 47
FIGURE 16 DIGITAL GAS & STEAM POWER PLANT SEGMENT AND US HELD LARGEST SHARES OF NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET IN 2020 47
4.4 ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE 48
FIGURE 17 DIGITAL GAS & STEAM POWER PLANT SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE, BY TWIN TYPE, BY 2026 48
4.5 ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE 48
FIGURE 18 SYSTEM DIGITAL TWIN SEGMENT TO DOMINATE ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, IN 2026 48
4.6 ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE 48
FIGURE 19 CLOUD TO BE FASTEST-GROWING SEGMENT OF ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, BY 2026 48
4.7 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION 49
FIGURE 20 ASSET PERFORMANCE MANAGEMENT SEGMENT TO DOMINATE ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, IN 2026 49
4.8 ELECTRICAL DIGITAL TWIN MARKET, BY END USER 49
FIGURE 21 UTILITIES SEGMENT TO DOMINATE ELECTRICAL DIGITAL TWIN MARKET,
BY END USER, IN 2026 49
5 MARKET OVERVIEW 50
5.1 INTRODUCTION 50
5.2 COVID-19 HEALTH ASSESSMENT 51
FIGURE 22 GLOBAL PROPAGATION OF COVID-19 51
FIGURE 23 PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES 52
5.3 COVID-19 ECONOMIC ASSESSMENT 52
FIGURE 24 REVISED GDP FOR SELECTED G20 COUNTRIES IN 2020 52
5.4 MARKET DYNAMICS 53
FIGURE 25 ELECTRICAL DIGITAL TWIN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 53
5.4.1 DRIVERS 53
5.4.1.1 Integration of variable renewable energy and decentralization of distributed energy resources using electrical digital twins 53
FIGURE 26 GLOBAL POWER GENERATION, BY SOURCE, 2010–2020 54
5.4.1.2 Increase in efficiency and optimization of operations of power sector 54
5.4.1.3 Reduction in unplanned downtime and operation & maintenance costs 55
5.4.2 RESTRAINTS 56
5.4.2.1 System complexities and availability of accurate mathematical models 56
5.4.2.2 Data privacy and security concerns due to use of IoT and cloud platforms 57
5.4.3 OPPORTUNITIES 57
5.4.3.1 Emergence of Energy 4.0 and adoption of advanced technologies for implementation of digital twin applications 57
5.4.3.2 Achieving network-level optimization 58
5.4.3.3 Accelerated digital transformation across power sector due to COVID-19 59
5.4.4 CHALLENGES 60
5.4.4.1 Limited support for deployment from stakeholders 60
5.4.4.2 Lack of skilled workforce 60
5.4.4.3 Uncertainty of cost benefits involved in adoption of electrical digital twins 60
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 61
5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR ELECTRICAL DIGITAL TWIN PROVIDERS 61
FIGURE 27 REVENUE SHIFT FOR ELECTRICAL DIGITAL TWIN PROVIDERS 61
5.6 MARKET MAP 62
FIGURE 28 MARKET MAP: ELECTRICAL DIGITAL TWIN MARKET 62
5.7 VALUE CHAIN ANALYSIS 62
FIGURE 29 VALUE CHAIN ANALYSIS: ELECTRICAL DIGITAL TWIN MARKET 63
5.7.1 RESEARCH, DESIGN, AND DEVELOPMENT 63
5.7.2 ORIGINAL EQUIPMENT MANUFACTURERS (OEMS) 63
5.7.3 ELECTRICAL DIGITAL TWIN SOLUTION/SOFTWARE/SERVICE PROVIDERS 63
5.7.4 END USERS 64
5.8 TECHNOLOGY ANALYSIS 64
5.8.1 ELECTRICAL DIGITAL TWINS BASED ON DIFFERENT TECHNOLOGIES 64
5.8.1.1 Cloud/Software as a Service 64
5.8.1.2 Internet of Things (IoT) and Industrial Internet of Things (IIoT) 64
5.8.1.3 Blockchain 64
5.8.1.4 Artificial Intelligence (AI) and Machine Learning (ML) 65
5.8.1.5 Augmented Reality (AR) 65
5.8.1.6 5G 65
5.9 ELECTRICAL DIGITAL TWIN MARKET: CODES AND REGULATIONS 65
TABLE 2 ELECTRICAL DIGITAL TWIN: CODES AND REGULATIONS 66
5.10 INNOVATIONS AND PATENT REGISTRATIONS 67
TABLE 3 ELECTRICAL DIGITAL TWIN: INNOVATIONS AND PATENT REGISTRATIONS, NOVEMBER 2016–SEPTEMBER 2021 67
5.11 PORTER’S FIVE FORCES ANALYSIS 70
FIGURE 30 PORTER’S FIVE FORCES ANALYSIS FOR ELECTRICAL DIGITAL TWIN MARKET 71
TABLE 4 ELECTRICAL DIGITAL TWIN MARKET: PORTER’S FIVE FORCES ANALYSIS 71
5.11.1 THREAT OF SUBSTITUTES 71
5.11.2 BARGAINING POWER OF SUPPLIERS 72
5.11.3 BARGAINING POWER OF BUYERS 72
5.11.4 THREAT OF NEW ENTRANTS 72
5.11.5 INTENSITY OF COMPETITIVE RIVALRY 73
5.12 CASE STUDY ANALYSIS 73
TABLE 5 ELECTRICAL DIGITAL TWIN MARKET: CASE STUDY ANALYSIS 73
6 ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE 75
6.1 INTRODUCTION 76
FIGURE 31 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY TWIN TYPE, 2020 (%) 76
TABLE 6 ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019–2026 (USD MILLION) 77
6.2 DIGITAL GAS & STEAM POWER PLANT 77
6.2.1 GROWING NEED TO ENHANCE EFFICIENCY AND REDUCE FUEL CONSUMPTION AND ENVIRONMENTAL EMISSIONS TO INCREASE IMPLEMENTATION OF DIGITAL GAS & STEAM POWER PLANTS 77
TABLE 7 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL GAS & STEAM POWER PLANT, BY REGION, 2019–2026 (USD MILLION) 78
6.3 DIGITAL WIND FARM 78
6.3.1 GROWING NEED FOR ENHANCING TURBINE UPTIME TO DRIVE GROWTH OF DIGITAL WIND FARMS 78
TABLE 8 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL WIND FIND, BY REGION, 2019–2026 (USD MILLION) 79
6.4 DIGITAL GRID 79
6.4.1 RISING NEED FOR INTEGRATING RENEWABLES WITH GRIDS TO BOOST DEMAND FOR PROCESS DIGITAL TWINS 79
TABLE 9 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL GRID, BY REGION,
2019–2026 (USD MILLION) 80
6.5 DIGITAL HYDROPOWER PLANT 80
6.5.1 INCREASING FOCUS ON MAINTAINING INTEGRITY OF ASSETS TO DRIVE DEMAND FOR DIGITAL HYDROPOWER PLANTS 80
TABLE 10 ELECTRICAL DIGITAL TWIN MARKET FOR DIGITAL HYDROPOWER PLANT, BY REGION, 2019–2026 (USD MILLION) 81
6.6 DISTRIBUTED ENERGY RESOURCES 81
6.6.1 GROWING NEED FOR REAL-TIME MONITORING, CONTROLLING, AND OPTIMIZATION OF DISTRIBUTED ENERGY SOURCES TO BOOST GROWTH OF SEGMENT 81
TABLE 11 ELECTRICAL DIGITAL TWIN MARKET FOR DISTRIBUTED ENERGY RESOURCES, BY REGION, 2019–2026 (USD MILLION) 82
7 ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE 83
7.1 INTRODUCTION 84
FIGURE 32 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY USAGE TYPE, 2020 (%) 84
TABLE 12 ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE,
2019–2026 (USD MILLION) 84
7.2 PRODUCT DIGITAL TWIN 85
7.2.1 GROWING NEED FOR ASSET MONITORING AND PERFORMANCE MANAGEMENT TO INCREASE IMPLEMENTATION OF ELECTRICAL PRODUCT DIGITAL TWINS 85
TABLE 13 PRODUCT ELECTRICAL DIGITAL TWIN MARKET, BY REGION,
2019–2026 (USD MILLION) 85
7.3 PROCESS DIGITAL TWIN 85
7.3.1 GROWING NEED FOR ENHANCING WORKFLOW EFFICIENCY AND PROCESS OPTIMIZATION TO DRIVE GROWTH OF PROCESS DIGITAL TWIN SEGMENT 85
TABLE 14 PROCESS ELECTRICAL DIGITAL TWIN MARKET, BY REGION,
2019–2026 (USD MILLION) 86
7.4 SYSTEM DIGITAL TWIN 86
7.4.1 GROWING NEED FOR ACHIEVING NETWORK-LEVEL OPTIMIZATION TO FUEL DEMAND FOR SYSTEM DIGITAL TWINS 86
TABLE 15 SYSTEM ELECTRICAL DIGITAL TWIN MARKET, BY REGION,
2019–2026 (USD MILLION) 87
8 ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE 88
8.1 INTRODUCTION 89
FIGURE 33 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY DEPLOYMENT TYPE, 2020 89
TABLE 16 ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE,
2019–2026 (USD MILLION) 89
8.2 ON-PREMISE 90
8.2.1 SECURITY CONCERNS RELATED TO SENSITIVE DATA TO FUEL DEMAND FOR ON-PREMISE DEPLOYMENT TYPE 90
TABLE 17 ELECTRICAL DIGITAL TWIN MARKET FOR ON-PREMISE DEPLOYMENT, BY REGION, 2019–2026 (USD MILLION) 90
8.3 CLOUD 91
8.3.1 EASE OF DEPLOYMENT, COST-EFFECTIVENESS, AND SCALABILITY TO DRIVE DEMAND FOR CLOUD DEPLOYMENT OF ELECTRICAL DIGITAL TWINS 91
TABLE 18 ELECTRICAL DIGITAL TWIN MARKET FOR CLOUD DEPLOYMENT, BY REGION, 2019–2026 (USD MILLION) 91
9 ELECTRICAL DIGITAL TWIN MARKET, BY END USER 92
9.1 INTRODUCTION 93
FIGURE 34 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY END USER, 2020 (%) 93
TABLE 19 ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 93
9.2 UTILITIES 94
9.2.1 GROWING ADOPTION OF RENEWABLE ENERGY AND ADVANCED DIGITAL TECHNOLOGIES TO DRIVE GROWTH OF UTILITIES SEGMENT 94
TABLE 20 ELECTRICAL DIGITAL TWIN MARKET FOR UTILITIES, BY REGION,
2019–2026 (USD MILLION) 95
9.3 GRID INFRASTRUCTURE OPERATORS 95
9.3.1 GROWING NEED FOR GRID MODERNIZATION TO BOOST GROWTH OF ELECTRICAL DIGITAL TWIN MARKET 95
TABLE 21 ELECTRICAL DIGITAL TWIN MARKET FOR GRID INFRASTRUCTURE OPERATORS, BY REGION, 2019–2026 (USD MILLION) 96
10 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION 97
10.1 INTRODUCTION 98
FIGURE 35 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY APPLICATION, 2020 (%) 98
TABLE 22 ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION,
2019–2026 (USD MILLION) 98
10.2 ASSET PERFORMANCE MANAGEMENT 99
10.2.1 GROWING NEED FOR CONTINUOUS MONITORING AND PREDICTIVE MAINTENANCE OF ASSETS TO DRIVE GROWTH OF ASSET PERFORMANCE MANAGEMENT SEGMENT 99
10.2.1.1 Equipment health 99
10.2.1.2 Reliability management 100
10.2.1.3 Maintenance optimization 100
TABLE 23 ELECTRICAL DIGITAL TWIN MARKET FOR ASSET PERFORMANCE MANAGEMENT, BY REGION, 2019–2026 (USD MILLION) 100
10.3 BUSINESS & OPERATIONS OPTIMIZATION 101
10.3.1 GROWING NEED FOR OPERATIONAL FLEXIBILITY AND REDUCING DOWNTIME TO BOOST GROWTH OF BUSINESS & OPERATIONS OPTIMIZATION SEGMENT 101
10.3.1.1 Operational flexibility 101
10.3.1.2 Outage management 102
TABLE 24 ELECTRICAL DIGITAL TWIN MARKET FOR BUSINESS & OPERATIONS OPTIMIZATION, BY REGION, 2019–2026 (USD MILLION) 102
11 GEOGRAPHIC ANALYSIS 103
11.1 INTRODUCTION 104
FIGURE 36 ELECTRICAL DIGITAL TWIN MARKET SHARE, BY REGION, 2020 (%) 104
FIGURE 37 NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET TO REGISTER HIGHEST CAGR FROM 2021 TO 2026 105
TABLE 25 ELECTRICAL DIGITAL TWIN MARKET, BY REGION, 2019–2026 (USD MILLION) 105
11.2 NORTH AMERICA 106
FIGURE 38 SNAPSHOT: NORTH AMERICAN ELECTRICAL DIGITAL TWIN MARKET 107
TABLE 26 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE,
2019–2026 (USD MILLION) 107
TABLE 27 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019–2026 (USD MILLION) 108
TABLE 28 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019–2026 (USD MILLION) 108
TABLE 29 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 108
TABLE 30 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019–2026 (USD MILLION) 109
TABLE 31 NORTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY,
2019–2026 (USD MILLION) 109
11.2.1 US 109
11.2.1.1 Initiatives to upgrade aging infrastructure and increasing federal and private investments to drive growth of US electrical digital twin market 109
TABLE 32 US ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 110
11.2.2 CANADA 110
11.2.2.1 Growing adoption of renewables and advanced technologies to boost demand for electrical digital twins in Canada 110
TABLE 33 CANADA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 111
11.2.3 MEXICO 111
11.2.3.1 Increasing investments in renewables and decarbonization of Mexican power sector to fuel demand for electrical digital twins 111
TABLE 34 MEXICO ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 112
11.3 EUROPE 112
FIGURE 39 SNAPSHOT: EUROPEAN ELECTRICAL DIGITAL TWIN MARKET 113
TABLE 35 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE,
2019–2026 (USD MILLION) 114
TABLE 36 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE,
2019–2026 (USD MILLION) 114
TABLE 37 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE,
2019–2026 (USD MILLION) 114
TABLE 38 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 115
TABLE 39 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION,
2019–2026 (USD MILLION) 115
TABLE 40 EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY,
2019–2026 (USD MILLION) 115
11.3.1 GERMANY 116
11.3.1.1 Growing need to ensure grid stability to drive growth of German market 116
TABLE 41 GERMANY ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 116
11.3.2 UK 117
11.3.2.1 Growing demand for wind energy to increase deployment of electrical digital twins in UK 117
TABLE 42 UK ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 117
11.3.3 FRANCE 118
11.3.3.1 Digitalization of legacy infrastructure and growing need for improving operational efficiency to boost demand for electrical digital twins in France 118
TABLE 43 FRANCE ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 118
11.3.4 NORDIC COUNTRIES 119
11.3.4.1 Growing preference for real-time and remote monitoring of wind farms to boost market growth 119
TABLE 44 THE NORDIC COUNTRIES ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019–2026 (USD MILLION) 119
11.3.5 REST OF EUROPE 120
TABLE 45 REST OF EUROPE ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 120
11.4 ASIA PACIFIC 120
TABLE 46 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE,
2019–2026 (USD MILLION) 121
TABLE 47 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE,
2019–2026 (USD MILLION) 121
TABLE 48 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019–2026 (USD MILLION) 122
TABLE 49 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 122
TABLE 50 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION,
2019–2026 (USD MILLION) 122
TABLE 51 ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY,
2019–2026 (USD MILLION) 123
11.4.1 CHINA 123
11.4.1.1 Increasing renewable capacity addition and development of electric vehicle charging infrastructure to fuel market growth 123
TABLE 52 CHINA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 124
11.4.2 JAPAN 124
11.4.2.1 Increasing private and public investments in renewable capacity addition to drive growth of electrical digital twin market in Japan 124
TABLE 53 JAPAN ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 125
11.4.3 AUSTRALIA 126
11.4.3.1 Increasing demand for grid reliability and energy security to boost market growth in Australia 126
TABLE 54 AUSTRALIA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 126
11.4.4 REST OF ASIA PACIFIC 127
TABLE 55 REST OF ASIA PACIFIC ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019–2026 (USD MILLION) 128
11.5 SOUTH AMERICA 128
TABLE 56 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE,
2019–2026 (USD MILLION) 129
TABLE 57 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019–2026 (USD MILLION) 129
TABLE 58 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019–2026 (USD MILLION) 129
TABLE 59 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 130
TABLE 60 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019–2026 (USD MILLION) 130
TABLE 61 SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY,
2019–2026 (USD MILLION) 130
11.5.1 BRAZIL 131
11.5.1.1 Increasing government-led investments to improve reliability of power generation, transmission, and distribution assets to fuel market growth 131
TABLE 62 BRAZIL ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 131
11.5.2 ARGENTINA 132
11.5.2.1 Growing demand for renewable energy and need for improving operational efficiency to fuel demand for electrical digital twins in Argentina 132
TABLE 63 ARGENTINA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 132
11.5.3 REST OF SOUTH AMERICA 133
TABLE 64 REST OF SOUTH AMERICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019–2026 (USD MILLION) 133
11.6 MIDDLE EAST & AFRICA 133
TABLE 65 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY TWIN TYPE, 2019–2026 (USD MILLION) 134
TABLE 66 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY USAGE TYPE, 2019–2026 (USD MILLION) 135
TABLE 67 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY DEPLOYMENT TYPE, 2019–2026 (USD MILLION) 135
TABLE 68 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019–2026 (USD MILLION) 135
TABLE 69 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY APPLICATION, 2019–2026 (USD MILLION) 135
TABLE 70 MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY COUNTRY, 2019–2026 (USD MILLION) 136
11.6.1 SAUDI ARABIA 136
11.6.1.1 Grid modernization and digitalization initiatives to boost market growth in Saudi Arabia 136
TABLE 71 SAUDI ARABIA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 137
11.6.2 UAE 137
11.6.2.1 Rising investments in renewable energy and grid expansion projects to create demand for electrical digital twins in Argentina 137
TABLE 72 UAE ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 138
11.6.3 SOUTH AFRICA 139
11.6.3.1 Growing need to prevent outages and improve energy efficiency to fuel growth of electrical digital twin market in South Africa 139
TABLE 73 SOUTH AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER,
2019–2026 (USD MILLION) 139
11.6.4 REST OF MIDDLE EAST & AFRICA 140
TABLE 74 REST OF MIDDLE EAST & AFRICA ELECTRICAL DIGITAL TWIN MARKET, BY END USER, 2019–2026 (USD MILLION) 140
12 COMPETITIVE LANDSCAPE 141
12.1 KEY PLAYERS STRATEGIES 141
TABLE 75 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, JANUARY 2017–SEPTEMBER 2021 141
12.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS 143
TABLE 76 ELECTRICAL DIGITAL TWIN MARKET: DEGREE OF COMPETITION 144
FIGURE 40 ELECTRICAL DIGITAL TWIN MARKET SHARE ANALYSIS, 2020 144
12.3 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS 145
FIGURE 41 TOP PLAYERS IN ELECTRICAL DIGITAL TWIN MARKET FROM 2016 TO 2020 145
12.4 COMPANY EVALUATION QUADRANT 146
12.4.1 STAR 146
12.4.2 PERVASIVE 146
12.4.3 EMERGING LEADER 146
12.4.4 PARTICIPANT 146
FIGURE 42 COMPETITIVE LEADERSHIP MAPPING: ELECTRICAL DIGITAL TWIN MARKET, 2020 147
TABLE 77 APPLICATION: COMPANY FOOTPRINT 147
TABLE 78 END USER: COMPANY FOOTPRINT 148
TABLE 79 REGION: COMPANY FOOTPRINT 149
TABLE 80 COMPANY FOOTPRINT 150
12.5 COMPETITIVE SCENARIO 151
TABLE 81 ELECTRICAL DIGITAL TWIN MARKET: PRODUCT LAUNCHES,
APRIL 2019–JULY 2021 151
TABLE 82 ELECTRICAL DIGITAL TWIN MARKET: DEALS, NOVEMBER 2019–JUNE 2021 152
TABLE 83 ELECTRICAL DIGITAL TWIN MARKET: OTHERS,
DECEMBER 2018–SEPTEMBER 2021 153
13 COMPANY PROFILES 154
13.1 KEY PLAYERS 154
(Business and financial overview, Products offered, Recent developments, and MNM view)*
13.1.1 ABB 154
TABLE 84 ABB: BUSINESS OVERVIEW 154
FIGURE 43 ABB: COMPANY SNAPSHOT 155
TABLE 85 ABB: PRODUCTS OFFERED 155
TABLE 86 ABB: PRODUCT LAUNCHES 156
TABLE 87 ABB: DEALS 157
13.1.2 AVEVA GROUP 160
TABLE 88 AVEVA: BUSINESS OVERVIEW 160
FIGURE 44 AVEVA GROUP: COMPANY SNAPSHOT 160
TABLE 89 AVEVA GROUP: PRODUCTS OFFERED 161
TABLE 90 AVEVA GROUP: DEALS 162
13.1.3 GENERAL ELECTRIC 163
TABLE 91 GENERAL ELECTRIC: BUSINESS OVERVIEW 163
FIGURE 45 GENERAL ELECTRIC: COMPANY SNAPSHOT 164
TABLE 92 GENERAL ELECTRIC: PRODUCTS OFFERED 164
TABLE 93 GENERAL ELECTRIC: PRODUCT LAUNCHES 166
TABLE 94 GENERAL ELECTRIC: DEALS 168
TABLE 95 GENERAL ELECTRIC: OTHERS 169
13.1.4 SIEMENS 171
TABLE 96 SIEMENS: BUSINESS OVERVIEW 171
FIGURE 46 SIEMENS: COMPANY SNAPSHOT 172
TABLE 97 SIEMENS: PRODUCTS OFFERED 172
TABLE 98 SIEMENS: PRODUCT LAUNCHES 174
TABLE 99 SIEMENS: DEALS 174
13.1.5 EMERSON 176
TABLE 100 EMERSON: BUSINESS OVERVIEW 176
FIGURE 47 EMERSON: COMPANY SNAPSHOT 177
TABLE 101 EMERSON: PRODUCTS OFFERED 177
TABLE 102 EMERSON: PRODUCT LAUNCHES 178
TABLE 103 EMERSON: DEALS 178
13.1.6 ETTEPLAN 180
TABLE 104 ETTEPLAN: BUSINESS OVERVIEW 180
FIGURE 48 ETTEPLAN: COMPANY SNAPSHOT 181
TABLE 105 ETTEPLAN: PRODUCTS OFFERED 181
TABLE 106 ETTEPLAN: DEALS 182
TABLE 107 ETTEPLAN: OTHERS 182
13.1.7 WIPRO 183
TABLE 108 WIPRO: BUSINESS OVERVIEW 183
FIGURE 49 WIPRO: COMPANY SNAPSHOT 184
TABLE 109 WIPRO: PRODUCTS OFFERED 184
TABLE 110 WIPRO: DEALS 185
TABLE 111 WIPRO: OTHERS 185
13.1.8 MIRCOSOFT 186
TABLE 112 MICROSOFT: BUSINESS OVERVIEW 186
FIGURE 50 MICROSOFT: COMPANY SNAPSHOT 187
TABLE 113 MICROSOFT: PRODUCTS OFFERED 187
TABLE 114 MICROSOFT: PRODUCT LAUNCHES 188
TABLE 115 MICROSOFT: DEALS 188
13.1.9 IBM 189
TABLE 116 IBM: BUSINESS OVERVIEW 189
FIGURE 51 IBM: COMPANY SNAPSHOT 190
TABLE 117 IBM: PRODUCTS OFFERED 190
TABLE 118 IBM: PRODUCT LAUNCHES 191
TABLE 119 IBM: DEALS 191
13.1.10 SCHNEIDER ELECTRIC 193
TABLE 120 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW 193
FIGURE 52 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 194
TABLE 121 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 194
TABLE 122 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 195
TABLE 123 SCHNEIDER ELECTRIC: DEALS 195
13.1.11 SAP 196
TABLE 124 SAP: BUSINESS OVERVIEW 196
FIGURE 53 SAP: COMPANY SNAPSHOT 197
TABLE 125 SAP: PRODUCTS OFFERED 197
TABLE 126 SAP: PRODUCT LAUNCHES 198
TABLE 127 SAP: DEALS 198
13.1.12 ANSYS 199
TABLE 128 ANSYS: BUSINESS OVERVIEW 199
FIGURE 54 ANSYS: COMPANY SNAPSHOT 199
TABLE 129 ANSYS: PRODUCTS OFFERED 200
TABLE 130 ANSYS: PRODUCT LAUNCHES 200
TABLE 131 ANSYS: DEALS 200
13.1.13 BENTLEY SYSTEMS 202
TABLE 132 BENTLEY SYSTEMS: BUSINESS OVERVIEW 202
FIGURE 55 BENTLEY SYSTEMS: COMPANY SNAPSHOT 202
TABLE 133 BENTLEY SYSTEMS: PRODUCTS OFFERED 203
TABLE 134 BENTLEY SYSTEMS: PRODUCT LAUNCHES 203
TABLE 135 BENTLEY SYSTEMS: DEALS 204
13.1.14 FUJITSU 205
TABLE 136 FUJITSU: BUSINESS OVERVIEW 205
FIGURE 56 FUJITSU: COMPANY SNAPSHOT 206
TABLE 137 FUJITSU: PRODUCTS OFFERED 206
TABLE 138 FUJITSU: PRODUCT LAUNCHES 207
TABLE 139 FUJITSU: OTHERS 207
13.1.15 ACPD SERVICES 208
TABLE 140 ACPD SERVICES: BUSINESS OVERVIEW 208
TABLE 141 ACPD SERVICES: PRODUCTS OFFERED 208
13.2 OTHER PLAYERS 209
13.2.1 ORACLE 209
13.2.2 SAS INSTITUTE 210
13.2.3 ALTAIR ENGINEERING 211
13.2.4 DNV 212
13.2.5 PHDSOFT 212
*Details on Business and financial overview, Products offered, Recent developments, and MNM view might not be captured in case of unlisted companies.
14 APPENDIX 213
14.1 INSIGHTS OF INDUSTRY EXPERTS 213
14.2 DISCUSSION GUIDE 213
14.3 NOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 218
14.4 AVAILABLE CUSTOMIZATIONS 220
14.5 RELATED REPORTS 220
14.6 AUTHOR DETAILS 221