Electrical

  • The global electrical digital twin market is projected to reach USD 1,642 million by 2024 from an estimated USD 804 million in 2019, at a CAGR of 15.4% during the forecast period.

  • The lithium battery market driven by various end-use industries including electrical & electronics, automotive, and industrial, with others, which include medical, military, and textile industries. The electrical & electronics end-use industry is further segmented into smartphones, tablet/PC, UPS, and others. The automotive end-use segment is further segmented into car, bus, truck, scooter & bike, and train & aircraft. Lithium-ion batteries are rechargeable batteries with high-energy density and are majorly used in portable equipment. The market for these batteries is expected to witness significant growth owing to increase in use in smartphones, tablets/PCs, digital cameras, and power tools.