The global power system simulator market is estimated to be USD 836.1 Million in 2017 and is projected to reach USD 1,180.6 Million by 2022, growing at a CAGR of 7.14%, from 2017 to 2022. The booming power sector and augmented power generation capacities, rising adoption of IoT and cloud platforms, and reduced overall project time and cost are driving the market for power system simulators globally.
The report "Power System Simulator Market by Module (Load Flow, Short Circuit, Device Coordination Selectivity, Arc Flash), Offering (Hardware, Software, Services), End-User (Power Generation, T&D, O&G, Manufacturing, Metals), and Region - Global Forecast to 2022", The global power system simulator market is estimated to reach USD 836.1 Million in 2017 and is projected to reach USD 1,180.6 Million by 2022, growing at a CAGR of 7.14%, during the forecast period. The market is set to grow due to the booming power sector and augmented power generation capacities and the increased adoption of IoT and cloud platforms.
Browse 73 market data Tables and 47 Figures spread through 142 Pages and in-depth TOC on "Power System Simulator Market by Module (Load Flow, Short Circuit, Device Coordination Selectivity, Arc Flash), Offering (Hardware, Software, Services), End-User (Power Generation, T&D, O&G, Manufacturing, Metals), and Region - Global Forecast to 2022"
The load flow segment is expected to hold the largest share of the power system simulator market, by module, during the forecast period.
Load flow modules help in planning future load expansions of power systems as well as optimizing existing networks. Planned expansion and optimization of existing networks using these modules help in reducing the overall downtime of the plant.
Upcoming power projects in economies such India, Indonesia, Malaysia, South Africa, and Qatar are expected to boost the demand for load flow modules during the forecast period.
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The power segment is expected to dominate the power system stimulator market, by end-user, in 2017.
The power segment comprises the power generation and transmission and distribution sub-segments. Power system stimulators find application in load planning, power quality, grids, arc flashes, and transmission and distribution.
Increased investments in renewable energy, growing power generation capacities, and high growth rates in developing economies are driving the power segment. Most countries are focusing on diversifying their energy mixes and re-evolving microgrids, which is expected to boost the power segment of the power system stimulator market, by end-user.
North America: Expected to be the leading market for power system simulators during the forecast period.
The power system simulator market has been analyzed with respect to 6 regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The North American market is expected to lead the power system simulator market, by region.
Increasing investments in the renewable energy and metals and mining markets and a positive outlook on the shale oil market are the key factors driving the power system simulator market in North America.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the power system simulator market. These include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), ETAP (US), MathWorks (US), OPAL-RT (Canada), RTDS Technologies (Canada), and Neplan (Switzerland).
The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
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