Product Code: GVR-4-68040-377-2
Power System Simulator Market Trends
The global power system simulator market size was estimated at USD 1.36 billion in 2023 and is projected to grow at a CAGR of 6.9% from 2024 to 2030. Factors such as the growing investments in upgrading aging power infrastructure and the increasing demand for reliable power supply are driving the global power system simulator industry growth. Power system simulation is the process of using software tools to model, analyze, and simulate the behavior of electrical power systems. This includes the generation, transmission, distribution, and consumption of electrical energy.
Power system analyses are crucial for the design of electrical power systems. Calculations and simulations are conducted to ensure that the electrical system and its components are accurately specified to function as intended, endure anticipated stresses, and safeguard against failures. Power system simulation offers benefits such as improved efficiency, enhanced reliability, cost savings, and aid in better decision-making. Simulation helps in identifying potential issues and weaknesses in the power system, allowing for proactive measures to enhance reliability and prevent outages.
Many countries are investing in upgrading their aging power infrastructure, and power system simulators are essential for designing and implementing these upgrades effectively. The International Energy Agency (IEA) estimates that global investment in power grids must increase to USD 820 billion annually by 2030, up from USD 260 billion in 2020, to support renewable energy projects necessary for limiting global warming to 1.5°C above pre-industrial levels.
Advancements in simulation technologies, particularly the incorporation of Artificial Intelligence (AI) and Machine Learning (ML), are significantly boosting the accuracy and efficiency of power system simulators. Additionally, stringent regulatory requirements and standards for power quality, reliability, and efficiency are driving utilities and power companies to embrace these advanced simulation technologies. For example, in North America, the North American Electric Reliability Corporation (NERC) establishes standards to ensure the reliability and safety of the bulk power system.
The implementation of smart grid technologies enhances the complexity, efficiency, and reliability of power systems, creating a strong demand for advanced power system simulators to manage and optimize these sophisticated networks. This drives the growth of the global power system simulator market as utilities and power companies seek to leverage these tools for better planning, operation, and compliance.
Global Power System Simulator Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global power system simulator market report based on component, analysis, end-use, and region.
- Component Outlook (Revenue, USD Million, 2017 - 2030)
- Hardware
- Software
- Services
- Analysis Outlook (Revenue, USD Million, 2017 - 2030)
- Load Flow
- Short Circuit
- Harmonic
- Transient
- Others
- End Use Outlook (Revenue, USD Million, 2017 - 2030)
- Power
- Industrial
- Others
- Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
U.S.
Canada
Mexico
UK
Germany
France
India
China
Japan
South Korea
Australia
Brazil
- Middle East and Africa (MEA)
Kingdom of Saudi Arabia (KSA)
UAE
South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Power System Simulator Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.3.3. Industry Opportunities
- 3.3.4. Industry Challenges
- 3.4. Power System Simulator Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Power System Simulator Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Power System Simulator Market: Component Movement Analysis, USD Million, 2023 & 2030
- 4.3. Hardware
- 4.3.1. Hardware Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4. Software
- 4.4.1. Software Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.5. Services
- 4.5.1. Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 5. Power System Simulator Market: Analysis Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Power System Simulator Market: Analysis Movement Analysis, USD Million, 2023 & 2030
- 5.3. Load Flow
- 5.3.1. Load Flow Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.4. Short Circuit
- 5.4.1. Short Circuit Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.5. Harmonic
- 5.5.1. Harmonic Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.6. Transient
- 5.6.1. Transient Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.7. Others
- 5.7.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Power System Simulator Market: End Use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Power System Simulator Market: End Use Movement Analysis, USD Million, 2023 & 2030
- 6.3. Power
- 6.3.1. Power Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.4. Industrial
- 6.4.1. Industrial Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.5. Others
- 6.5.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 7. Power System Simulator Market: Regional Estimates & Trend Analysis
- 7.1. Power System Simulator Market Share, By Region, 2023 & 2030, USD Million
- 7.2. North America
- 7.2.1. North America Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.2. North America Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.2.3. North America Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.2.4. North America Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.2.5. U.S.
- 7.2.5.1. U.S. Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.5.2. U.S. Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.2.5.3. U.S. Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.2.5.4. U.S. Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.2.6. Canada
- 7.2.6.1. Canada Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.6.2. Canada Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.2.6.3. Canada Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.2.6.4. Canada Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.2.7. Mexico
- 7.2.7.1. Mexico Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.2.7.2. Mexico Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.2.7.3. Mexico Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.2.7.4. Mexico Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.2. Europe Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.3.3. Europe Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.3.4. Europe Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3.5. UK
- 7.3.5.1. UK Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.5.2. UK Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.3.5.3. UK Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.3.5.4. UK Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3.6. Germany
- 7.3.6.1. Germany Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.6.2. Germany Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.3.6.3. Germany Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.3.6.4. Germany Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.3.7. France
- 7.3.7.1. France Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.3.7.2. France Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.3.7.3. France Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.3.7.4. France Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.2. Asia Pacific Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.4.3. Asia Pacific Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.4.4. Asia Pacific Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.5. China
- 7.4.5.1. China Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.5.2. China Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.4.5.3. China Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.4.5.4. China Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.6. Japan
- 7.4.6.1. Japan Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.6.2. Japan Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.4.6.3. Japan Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.4.6.4. Japan Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.7. India
- 7.4.7.1. India Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.7.2. India Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.4.7.3. India Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.4.7.4. India Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.8. South Korea
- 7.4.8.1. South Korea Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.8.2. South Korea Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.4.8.3. South Korea Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.4.8.4. South Korea Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.4.9. Australia
- 7.4.9.1. Australia Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4.9.2. Australia Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.4.9.3. Australia Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.4.9.4. Australia Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5.2. Latin America Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.5.3. Latin America Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.5.4. Latin America Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.5.5. Brazil
- 7.5.5.1. Brazil Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5.5.2. Brazil Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.5.5.3. Brazil Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.5.5.4. Brazil Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6. Middle East and Africa
- 7.6.1. Middle East & Africa Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.2. Middle East & Africa (MEA) Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.6.3. Middle East & Africa (MEA) Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.6.4. Middle East & Africa (MEA) Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6.5. Kingdom of Saudi Arabia (KSA)
- 7.6.5.1. Kingdom of Saudi Arabia (KSA) Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.5.2. Kingdom of Saudi Arabia (KSA) Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.6.5.3. Kingdom of Saudi Arabia (KSA) Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.6.5.4. Kingdom of Saudi Arabia (KSA) Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6.6. UAE
- 7.6.6.1. UAE Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.6.2. UAE Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.6.6.3. UAE Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.6.6.4. UAE Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
- 7.6.7. South Africa
- 7.6.7.1. South Africa Power System Simulator Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6.7.2. South Africa Power System Simulator Market Estimates and Forecasts, by Component, 2017 - 2030 (USD Million)
- 7.6.7.3. South Africa Power System Simulator Market Estimates and Forecasts, by Analysis, 2017 - 2030 (USD Million)
- 7.6.7.4. South Africa Power System Simulator Market Estimates and Forecasts, by End Use, 2017 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis
- 8.5. Company Heat Map Analysis
- 8.6. Strategy Mapping
- 8.6.1. Expansion
- 8.6.2. Mergers & Acquisition
- 8.6.3. Partnerships & Collaborations
- 8.6.4. New Product Launches
- 8.6.5. Research And Development
- 8.7. Company Profiles
- 8.7.1. Siemens
- 8.7.1.1. Participant's Overview
- 8.7.1.2. Financial Performance
- 8.7.1.3. Product Benchmarking
- 8.7.1.4. Recent Developments
- 8.7.2. ABB
- 8.7.2.1. Participant's Overview
- 8.7.2.2. Financial Performance
- 8.7.2.3. Product Benchmarking
- 8.7.2.4. Recent Developments
- 8.7.3. Eaton
- 8.7.3.1. Participant's Overview
- 8.7.3.2. Financial Performance
- 8.7.3.3. Product Benchmarking
- 8.7.3.4. Recent Developments
- 8.7.4. The MathWorks, Inc.
- 8.7.4.1. Participant's Overview
- 8.7.4.2. Financial Performance
- 8.7.4.3. Product Benchmarking
- 8.7.4.4. Recent Developments
- 8.7.5. RTDS Technologies Inc
- 8.7.5.1. Participant's Overview
- 8.7.5.2. Financial Performance
- 8.7.5.3. Product Benchmarking
- 8.7.5.4. Recent Developments
- 8.7.6. Fuji Electric Co., Ltd.
- 8.7.6.1. Participant's Overview
- 8.7.6.2. Financial Performance
- 8.7.6.3. Product Benchmarking
- 8.7.6.4. Recent Developments
- 8.7.7. General Electric Company
- 8.7.7.1. Participant's Overview
- 8.7.7.2. Financial Performance
- 8.7.7.3. Product Benchmarking
- 8.7.7.4. Recent Developments
- 8.7.8. ETAP (Operation Technology, Inc.)
- 8.7.8.1. Participant's Overview
- 8.7.8.2. Financial Performance
- 8.7.8.3. Product Benchmarking
- 8.7.8.4. Recent Developments
- 8.7.9. OPAL-RT TECHNOLOGIES, Inc.
- 8.7.9.1. Participant's Overview
- 8.7.9.2. Financial Performance
- 8.7.9.3. Product Benchmarking
- 8.7.9.4. Recent Developments
- 8.7.10. PSI Neplan AG
- 8.7.10.1. Participant's Overview
- 8.7.10.2. Financial Performance
- 8.7.10.3. Product Benchmarking
- 8.7.10.4. Recent Developments