Power system analysis software market

Power System Analysis Software Market, By Implementation Model (On-premise and Cloud-based), By Application (Distribution and Transmission) By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Request Free Sample

Dec 2022
CMI3937
135 Pages
Excel & Pdf
Information and Communication Technology

Summary

Power system analysis software is a specialty software used by power utilities to perform data analysis, modeling, and simulation of the power electric system. This software offers various features that assist power utilities in the diagnostic and detection of abnormalities. Moreover, it provides 24/7 access to operational data, history, and trends. Power system analysis software is used for adequacy calculations between generation and network capacities. The software suggests loading recommendations through the adoption of models using actual field condition assessment data and also provides support to address abnormal operation.

The Global Power System Analysis Software market was valued at US$ 6922.7 Mn in 2021.

Recent Developments:

In October 2022, ETAP/Operation Technology, Inc., a provider of operation and automation solutions for electrical power systems, introduced ETAP 22 an electrical digital twin solution which empowered operators and engineers to  operate, design, and automate safe, compliant, reliable power systems.
In January 2022, PSI AG, an integrator and developer of software systems, announce the release of PSI Control 4.9 control system featuring new capabilities of protocol extension which allow flexible management of the connections and parallel operations of control centers.

Restraint:

High upfront investment and security challenges are expected to restrain growth of the global power system analysis software market during the forecast period
Incompetency to handle novel technology is expected to hinder the global power system analysis software market growth over the forecast period

Power System Analysis Software Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 6922.7 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	13.4%	2030 Value Projection:	US$ 21104.7 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Implementation Model: On premise, Cloud-based. By Application: Distribution, Transmission.
Companies covered:	ABB Ltd., Electricity Coordinating Center Ltd., Siemens AG, Energy Exemplar, Atos SE, General Electric Company, Unicorn Systems, ETAP/Operation Technology, Inc., Operation Simulation Associates, Inc., Schneider Electric DMS NS, PSI AG, and Artelys SA.
Growth Drivers:	Increasing demand for electric power is expected to drive growth of the global power system analysis software market during the forecast period Encouraging policies and regulations present is expected to propel the global power system analysis software market growth over the forecast period
Restraints & Challenges:	High upfront investment and security challenges are expected to restrain growth of the global power system analysis software market during the forecast period Incompetency to handle novel technology is expected to hinder the global power system analysis software market growth over the forecast period

Power System Analysis Software Market - Impact of Coronavirus (Covid-19) Pandemic:

Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. There is a significant impact on the power system analysis software market due to the pandemic. Every country is strictly following a complete lockdown and due to this, all manufacturing industries across the globe have been temporarily shut down. This has reduced the electricity demand from the industrial sector and increased the demand from the residential sector. But due to covid-19, the demand for Power Analysis software is increasing as companies are using this software to analyze consumer behavior.

North America held a dominant position in the global power system analysis software market in 2021

Statistics:

North America region dominated the global power system analysis software market in 2021, accounting for a 32.6% share in terms of value, followed by Europe, Asia Pacific, and Latin America, respectively

Figure 1: Global Power System Analysis Software Market Share (%), By Region, 2021

North America global power system analysis software market is expected to be one of the prominent region in the global market witness high growth during the forecast period. This is owing increasing demand for power system analysis software in emerging economies such as U.S. and Canada. So it is expected to boost the market growth.

Figure 2: Global Power System Analysis Software Market (US$ Mn) Analysis and Forecast, 2017 - 2030

The global power system analysis software market was valued at US$ 6922.7 Mn in 2021 and is expected to reach US$ 21104.7 Mn by 2030, growing at a CAGR of 13.4% between 2022 and 2030.

Major players operating in the global power system analysis software market include ABB Ltd., Electricity Coordinating Center Ltd., Siemens AG, Energy Exemplar, Atos SE, General Electric Company, Unicorn Systems, ETAP/Operation Technology, Inc., Operation Simulation Associates, Inc., Schneider Electric DMS NS, PSI AG, and Artelys SA.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Power System Analysis Software Market- Global forecast to 2030”.

Segmentation

Detailed Segmentation

Global Power System Analysis Software Market, By Implementation Model:
- On-premise
- Cloud-based
Global Power System Analysis Software Market, By Application:
- Distribution
- Transmission
Global Power System Analysis Software Market, By Region:
- North America
  - By Implementation Model:
    - On-premise
    - Cloud-based
  - By Application:
    - Distribution
    - Transmission
  - By Country:
    - U.S.
    - Canada
- Europe
  - By Implementation Model:
    - On-premise
    - Cloud-based
  - By Application:
    - Distribution
    - Transmission
  - By Country:
    - Germany
    - Italy
    - U.K.
    - France
    - Russia
    - Rest of Europe
- Asia Pacific
  - By Implementation Model:
    - On-premise
    - Cloud-based
  - By Application:
    - Distribution
    - Transmission
  - By Country:
    - China
    - India
    - Japan
    - Australia
    - South Korea
    - ASEAN
    - Rest of Asia Pacific
- Latin America
  - By Implementation Model:
    - On-premise
    - Cloud-based
  - By Application:
    - Distribution
    - Transmission
  - By Country:
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Middle East and Africa
  - By Implementation Model:
    - On-premise
    - Cloud-based
  - By Application:
    - Distribution
    - Transmission
  - By Country/Region:
    - GCC Countries
    - South Africa
    - Rest of Middle East and Africa

- Frequently Asked Questions -

What is the expected market size of the global power system analysis software market in 2030?

The global power system analysis software market is expected to reach US$ 21104.7 million by 2030

What is the Compound Annual Growth Rate (CAGR) of the market during the forecast period (2022-2030)?

The market is expected to grow at 13.4% CAGR over the period (2022-2030).

What is the primary factor contributing towards the growth of market?

Rising use of energy-efficient systems is expected to drive growth of the market during the forecast period.

Which sub-segment among type segment held the largest market share in the market?

Distribution segment held the major market share in 2021 owing to leading demand through the forecast period.

Which region held the largest market share in the market?

North America region hold the largest share in the market in 2021, accounting for 32.6% share in terms of value.

Who are the key players operating in the market?

Key players operating in the global power system analysis software are ABB Ltd., Electricity Coordinating Center Ltd., Siemens AG, Energy Exemplar, Atos SE, General Electric Company, Unicorn Systems, ETAP/Operation Technology, Inc., Operation Simulation Associates, Inc., Schneider Electric DMS NS, PSI AG, and Artelys SA.