Power System Simulator Market Size, Share, Growth Report 2030

Power System Simulator Market

Global Power System Simulator Market - By End-User (T&D, Power Generation, Manufacturing, O&G, And Metals), By Offering (Software, Hardware, And Services), By Module (Short Circuit, Load Flow, Arc Flash, And Device Coordination Selectivity), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Category: Semiconductor & Electronics Report Format : PDF Pages: 110 Report Code: ZMR-2841 Published Date: Sep-2020 Status : Published

Global Power System Simulator market, which was estimated at 1,032.34 (USD Million) in 2019 and is anticipated to hit 1,564. 65 (USD Million) by 2026, is set to record a CAGR of nearly 7.19% over 2020-2026.

The global Power System Simulator market, which was estimated at 1,032.34 (USD Million) in 2019 and is anticipated to hit 1,564. 65 (USD Million) by 2026, is set to record a CAGR of nearly 7.19% over 2020-2026. The report offers valuation and analysis of Power System Simulator market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Million).

Global Power System Simulator Market SizeRequest Free Sample

Introduction

Power system simulator is a kind of software that is utilized by engineers for simulation of power transmission networks under steady-state conditions and over period ranging from few seconds to many seconds. Apparently, the software is used for long-term power generation and power transmission expansion planning. In addition to this, the software focuses on economic dispatch calculation, faults calculation, and power flow calculation. Additionally, the product act as power system real-time simulator and assess the grid problem in real-time.

Market Growth Dynamics

Escalating need of power system simulators for increasing power generating capacities will steer the market growth over the coming years. Apart from this, massive acceptance of new technologies like IoT and cloud platforms is set to embellish power system simulator industry expansion over the ensuing years. Furthermore, escalating demand for the product due to its ability to minimize project time as well as costs will create lucrative growth avenues for the business over the forthcoming years. Additionally, rise in the funding by the government for encouraging the use of power system simulators will accentuate the growth of power system simulator market in the years ahead. Nevertheless, slow growth witnessed in mining and oil & gas sector are likely to put brakes on power system simulator industry expansion. Additionally, rising cases of data breach will further create hindrances for the business over the coming years. However, infrastructural expansion of electric grid in the emerging economies will offer new growth opportunities for the industry in the foreseeable future.

North American Market To Gain Dominant Position Over 2020-2026

The growth of the market in the sub-continent over the estimated timespan can be attributed to growing renewable energy trends along with thriving metal & mining industries in the region. Additionally, huge allocation of funds by government for developing smart grid systems and growing efforts of Canadian government for enhancing power infrastructure facility to reduce power loss during production & transmission of electricity will facilitate the growth of power system simulator market in North America over the coming years.

Key players influencing the market growth are Schneider Electric, Atos SE, ABB, Siemens, Eaton, ETAP, GE, Fuji Electric, The MathWorks, Inc., Neplan AG, Open Systems International, Inc., PowerWorld Corporation, Opal-RT Technologies, Inc., RTDS Technologies Inc., and Energy Exemplar.

The global power system simulator market is segmented as follows:

By Offering

  • Hardware
  • Software
  • Services

By Modules

  • Load Flow
  • Short Circuit
  • Arc Flash
  • Device Coordination Selectivity
  • Harmonics
  • Others

By End-User

  • Power
    • Power Generation
    • Transmission and Distribution
  • Hardware
    • Oil & Gas
    • Manufacturing
    • Metals and Mining
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Escalating need of power system simulators for increasing power generating capacities will steer the market growth over the coming years. Apart from this, massive acceptance of new technologies like IoT and cloud platforms is set to embellish power system simulator industry expansion over the ensuing years. Furthermore, escalating demand for the product due to its ability to minimize project time as well as costs will create lucrative growth avenues for the business over the forthcoming years.

 According to Zion Market Research Report, The global Power System Simulator market, which was estimated at 1,032.34 (USD Million) in 2019 and is anticipated to hit 1,564. 65 (USD Million) by 2026, is set to record a CAGR of nearly 7.19% over 2020-2026.

North America is likely to make noteworthy contributions towards overall market revenue. The growth in the region over 2020-2026 is attributed to growing renewable energy trends along with thriving metal & mining industries in the region. Additionally, huge allocation of funds by government for developing smart grid systems and growing efforts of Canadian government for enhancing power infrastructure facility to reduce power loss during production & transmission of electricity.

The key players profiled in the report include Schneider Electric, Atos SE, ABB, Siemens, Eaton, ETAP, GE, Fuji Electric, The MathWorks, Inc., Neplan AG, Open Systems International, Inc., PowerWorld Corporation, Opal-RT Technologies, Inc., RTDS Technologies Inc., and Energy Exemplar. The major players are trying to introduce are focusing on various branding & promotional activities to enhance their brand image and positioning in the market. These firms are adopting various positioning strategies like breakaway positioning, and reserve positioning to increase their profits. Apart from this, these firms are exploring new business growth opportunities in countries with untapped market growth potential.

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