Digital Wind Farm Market Scope
The digital wind farm is a tech-enabled wind energy system that leverages software applications, machine learning, and analytics. The use of digital technology in the wind turbine helps to enhance performance, reliability, and profitability. The robust growth of the offshore wind sector across the globe as it generates a large amount of energy as compared to onshore will accelerate the growth of digital technologies for offshore wind farm applications. Further, the evolution of the digital twin in the wind energy sectors will boost the market as more and more wind energy companies are looking for cutting-edge technologies to predict the performance, and monitor wind turbines.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | GE Renewable Energy (France), ABB Ltd (Switzerland), Siemens Gamesa Renewable Energy S.A. (Germany), Vestas (Denmark), Atos (France), Goldwind (China), DNV AS (Norway), Microsoft Corporation (United States), Accenture (Ireland), Envision Digital (Singapore) and Performance for Assets (Belgium) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Digital Wind Farm market throughout the predicted period.
GE Renewable Energy (France), ABB Ltd (Switzerland), Siemens Gamesa Renewable Energy S.A. (Germany), Vestas (Denmark), Atos (France), Goldwind (China), DNV AS (Norway), Microsoft Corporation (United States), Accenture (Ireland), Envision Digital (Singapore) and Performance for Assets (Belgium) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Digital Wind Farm market by Type , by Application (Onshore Wind Energy and Offshore Wind Energy) and Region with country level break-up.
On the basis of geography, the market of Digital Wind Farm has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In September 2023, these two wind turbine giants announced they were exploring a potential merger, creating the world's largest wind turbine manufacturer. This news sent ripples through the industry, with many speculating on the implications for market competition and innovation.
In November 2023, GE unveiled its Haliade-X 15 MW offshore wind turbine, the world's most powerful. This new turbine boasts a larger capacity than its predecessors, aiming to reduce the cost of offshore wind energy and make it more competitive with other renewable sources.
Influencing Trend:
Rapidly Changing Technology and Increasing Use of Machine Learning and Virtual Power Plants for Development of Next-Generation Wind Farms
Market Growth Drivers:
Growing Popularity of Digital Twin in the Wind Energy Sector to Monitor and Predict Wind Turbine Performance, Rapidly Emerging Offshore Wind Energy Industries Across the Globe and Surging Demand for Digital Solutions in Wind Energy Sector to Boost Energy Production
Challenges:
Slow Adoption of Digital Wind Farm Solutions in the Underdeveloped Countries
Restraints:
Lack of Awareness About Emerging Technology, Less Skillful Workforce, and Inadequate Funding May Hamper the Growth
Opportunities:
Increased Installation of Offshore Wind Energy Plants in the Coastal Region of North America and Europe and Government Funding for the Deployment of Advanced Technologies in the Renewable Energy Sector
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Digital Wind Farm Providers, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others