Global Power System Simulator Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Power System Simulator Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Power System Simulator market finds that the global Power System Simulator market reached a value of USD 1174.91 million in 2022. It’s expected that the market will achieve USD 1774.07 million by 2028, exhibiting a CAGR of 7.11% during the forecast period.

The booming power industry is one of the main reasons for driving the power system simulation market.

Electricity is related to economic development and human life. Electricity comes from primary energy. In order to protect the national energy supply security, its sources are implemented in a variety of types and multi-channel supply models. Electricity is an important material basis for production and life in modern society. With the development of industrialization in various countries, human demand for electricity has increased year by year. The ability to provide a large amount of cheap, high-quality, reliable electricity is directly related to the process of national economic development. Electricity production can be divided into two broad categories: fossil fuel produced electricity and clean energy (nuclear energy and renewable energy) to produce electricity. At present, it is the fossil fuel production power, especially coal-fired power generation and gas-fired power generation. In order to ensure energy supply, countries have vigorously developed energy power generation projects. The rapid development of these power industries has promoted the growth of the power system simulation market.

Data security risks are a limiting factor in the power system simulator market.

As a key infrastructure in various countries, once a cyber war occurs, it must become the preferred target of cyber-attacks, such as the “Ukraine power outage” or the “Shenzhen virus” attack on Iran’s nuclear facilities. Big data is an available and attackable carrier. Some hackers hide malware and virus code to attack and tamper with and steal data. The most typical is APT attack. By obtaining the power big data value information through attack, it is possible to analyze the distribution of power consumption of the target location, the location of key information infrastructure, and tamper with key data such as monitoring and warning information and operation instructions of key nodes, resulting in power system failure or major safety accidents. These data security risks exist may hinder market development.

Region Overview:

North America dominated the Power System Simulator market in 2022, with a market share of 29.2%.

Company Overview:

Siemens is one of the major players operating in the Power System Simulator market, holding a share of 14.33% in 2023.

Siemens

Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role.

General Electric Company

General Electric Company is a globally diversified technology and financial services company. The Company's products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products.

Segmentation Overview:

Among different product types, Software segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Power segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Power System Simulator market covered in Chapter 3:

ETAP
Rtds Technologies
OSI
Powerworld
Eaton
Fuji Electric
GE
Mathworks
DIgSILENT GmbH
ABB
Siemens
Opal-RT Technologies

In Chapter 4 and Chapter 14.2, on the basis of types, the Power System Simulator market from 2018 to 2029 is primarily split into:

Hardware
Software
Services

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Power System Simulator market from 2018 to 2029 covers:

Power
Industrial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)