Growing Infrastructure Development to boost the demand for Power System Analysis Software Market

The power system analysis software market worldwide is expected to grow with a CAGR of 9.8% throughout the prediction period from 2023 to 2030, starting from US$ 4.76 Bn in 2021. Rising need for energy generation and increasing penetration of big data analytics are the major reasons driving the market growth. Growing demand for sustainable energy will also gave boost to the market demand. Increased government investments for electricity infrastructure will also give boost to the market growth. Technical advancements in IOT will also surge the market demand. Consequently, we assume that the market will show significant growth during the forecast period.

Cloud-based Segment to be the Fastest Growing Segment

The power system analysis software market by deployment type was led by on-premise segment in 2021. The on-premise segment had nearly 2/3rd of the market share in the same year. Offering improved system uptime and rising data centers are some of the factors due to which on-premise segment has its dominance in 2021. On the other flip, we presume that cloud-based segment to be the fastest growing segment throughout the forecast period. Low cost, easy availability are some of the benefits driving the demand for the segment. Increased internet penetration worldwide will be another major factor for the segment growth. Hence, we assume that cloud-based segment will be the fastest growing segment during the forecast period.

Asia Pacific to be the Fastest Growing

In 2021, North America dominated the power system analysis software market. North America contributed to around 1/3rd of the global market revenue share in the same year. North America enjoys strong market position due to robust investments in smart grid systems and rising electricity infrastructure in the region. On the other hand, we assume that Asia Pacific region to be the fastest rising owing to rising government investments for electricity infrastructure and growing technological adoption in the region. Rapid urbanization in the emerging economies such as China and India will also boost the market in Asia Pacific. As a result, we project that Asia Pacific be the fastest growing during the estimate period.

Some of the prominent players operating in the power system analysis software market ABB Ltd., General Electric Company, ETAP/Operation Technology Inc., PSI AG, Unicorn Systems, Electricity Coordinating Center Ltd., Open Systems International Inc., Electrocon International Inc., Eaton Corporation plc, Siemens AG, Schneider Electric DMS NS, Atos SE, Artleys SA, Energy Exemplar, PowerWorld Corporation, Nexant Inc., Pöyry, Neplan AG, and DIgSILENT GmbH among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Power System Analysis Software market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Power System Analysis Software market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Power System Analysis Software market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Power System Analysis Software market?
• Which is the largest regional market for Power System Analysis Software market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Power System Analysis Software market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Power System Analysis Software market worldwide?