The digital twin notion entails enhancing a technique's or a physical product's digital profile in order to better understand its utilitarian and behavioural aspects. Through constant digital interpretations of physical products that reach out to each phase of the product improvement lifecycle, innovation has sanctioned a rise in the genuine and virtual worlds. Because power utilities are always focusing on asset management, an increase in asset performance management will improve market share during the forecast period. The expanding impact of machine learning and AI on digital twin applications is one of the market's biggest opportunities. Because of the huge number of electrical digital twin vendors in the region, North America is expected to have the greatest market.