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(I-SoftwareNews.Com, September 10, 2019 ) Market Overview
• The global Power System Simulation Market was worth USD 830 million in 2017 and is anticipated to reach USD 1436.18 million by the end of 2025, growing at a CAGR of 7.1 % during the forecast period.
The market growth is driven by several factors including
• Increasing power generation capacity with growing power sector,
• New advanced technology to reduce time and cost for different industrial projects.
However, the risk of data security over the transmission might restrain the growth of the market. For instance, in the UK, by 2035, renewables are expected to account for 67 GW of electricity produced, of a total of 139 GW in that year.
• The global Power System Simulation market is segmented on Modules into Arc Flash, Short Circuit, Load Flow, Device Coordination Selectivity, Harmonics, and Others.
• The Load Flow segment accounted for most significant market share due to increasing number of power projects and growing investments in oil & gas, mining, and metals market. Also, load flows are better in optimizing power networks and managing future load expansions.
• Based on end-user, the market consists of three segments namely Power, Industrial, and Others. The power segment is the largest segment accounting for the highest market share of the global power system simulation.
• Growing power generation capacity, increasing investments in renewable energy and increasing adoption of smart grids in transmission & distribution of power are the factors boosting the power segment.
• Geographically, this report segments the market into
• North America,
• South America,
• and RoW.
• Company Profiles:
• The major players in the power system simulator market are
• Schneider Electric,
• In Mar 2018, The PD1000A Power Device Measurement System for Advanced Modeling and the W8598BP/BT Power Electronics Model Generator Software solution addressed the growing needs of the hybrid-electric and electric vehicle and solar industries which need their power electronics simulation designers to make the modules smaller, cooler and more efficient.
• In 2017, Bentley Power Systems partnered with Siemens Energy to develop innovative technology aimed at the digitization of power utilities.
The scope of the report:
• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The report profiles the following companies, which includes ABB, Siemens, Schneider Electric, Eaton, ETAP, GE, Rtds Technologies, Mathworks, Opal-RT, Powerworld, Nepean, and OSI.
View full sample report: https://www.datamintelligence.com/research-report/power-system-simulation-market
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