Dublin, Feb. 08, 2021 (GLOBE NEWSWIRE) -- The "Global Power System Simulator Market, by Module (Load Flow, Harmonic, Short Circuit, Device Coordination Selectivity, & Others), by Offerings (Software, Hardware & Services), by End-Users (Power, Industrial, & Others), by Region, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Power System Simulator Market was valued at $960 million in 2019 and is projected to reach USD 1.38 billion by 2025, owing to rising emphasis on power generation through renewable resources and adoption of IoT as well as cloud-based platforms, globally.
Power system simulator is a software tool used by various power system engineers to simulate electrical power transmission, generation & distribution for round-the-clock maintenance and is helpful in reducing the overall downtime of the projects.
Furthermore, a simulator acts as a real time simulator, which is used for analyzing grid faults, power flow calculation, and economic dispatch calculation. Moreover, rising necessity for renewable sources of energy such as solar and wind energy has given a boost to the power industry and will likely increase the demand for power system simulators in the coming years.
The power system simulator market is segmented based on module, offerings, end-users, and regions. Based of module, the market is segmented into Load Flow, Device Coordination Selectivity, Short Circuit, Harmonics and Others. The Load Flow segment accounted for the largest share in the Global Power System Simulator Market, followed by Harmonics segment.
Based on offerings, the market is categorized into Software, Hardware and Services. Out of these, the Software category accounted for largest share in the power system simulator market and is anticipated to dominate the market during the forecast period due to the investments into IoT as well as increasing advancements into existing software offerings to achieve higher efficiency.
Based on end-users, the market is segmented into Power, Industrial and Others, wherein Power segment dominates the market during the forecast period due to rising investments in renewable energy, growing power generation capabilities, and high growth rates in developing the economics of many countries.
Regionally, North America is expected to lead the market due to growing investments in renewable power generation capacities as well as growing IoT Industry in the United States and Canada.
Major players operating in the Global Power System Simulator Market include ABB Ltd., Eaton Corporation, Siemens AG, General Electric Company, Schneider Electric, Open System International Inc., Fuji Electric Co. Ltd., The Math Works Inc., Powerworld Corporation, RTDS Technologies Inc., and others.
Key market players are adopting competitive strategies such as new product developments, mergers & acquisitions, partnership, and agreements in order to expand their geographic reach and to increase their customer base.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Power System Simulator Market
4. Executive Summary
5. Voice of Customer
5.1. Product Awareness
5.2. Brand Awareness
5.3. Brand Recall
5.4. Product Pricing
5.5. Challenges & Unmet Needs
6. Global Power System Simulator Market Landscape
7. Global Power System Simulator Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Module (Load Flow, Harmonics, Short Circuit, Device Coordination
Selectivity and Others)
7.2.2. By Offerings (Software, Hardware and Services)
7.2.3. By End-Users (Power, Industrial and Others)
7.2.4. By Company
7.2.5. By Region
8. North America Power System Simulator Market Outlook
9. North America: Country Analysis
10. Asia Pacific Power System Simulator Market Outlook
11. Asia Pacific: Country Analysis
12. Europe Power System Simulator Market Outlook
13. Europe: Country Analysis
14. Middle East & Africa Power System Simulator Market Outlook
15. Middle East & Africa: Country Analysis
16. South America Power System Simulator Market Outlook
17. South America: Country Analysis
18. Market Dynamics
19. Market Trends & Developments
20. Pricing Analysis
21. Competitive Landscape
21.1. ABB Ltd.
21.2. Eaton Corporation
21.3. Siemens AG
21.4. General Electric Company
21.5. Schneider Electric
21.6. Open System International Inc.
21.7. Fuji Electric Co. Ltd.
21.8. The Math Work, Inc.
21.9. Powerworld Corporation
21.10. RTDS Technologies Inc.
22. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/rrbttq
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