DUBLIN, Dec. 22, 2017 /PRNewswire/ --
The "Power System Simulator Market by Module, Offering, End-User, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
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 power system simulator market has been segmented based on offering into hardware, software, and services. The software segment is expected to be the largest due to the upgradation of existing software to the latest versions and upcoming technologies.
The power system simulator market has been segmented based on module into load flow, short circuit, device coordination selectivity, arc flash, harmonics, and others. The others segment includes motor acceleration, sequence of operation, transient stability, and reliability assessment. The load flow module segment is estimated hold the largest share of the market during the forecast period. 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.
The power system simulator market has been segmented, by end-user, into power, industrial, and others. The others segment includes transportation, commercial, and institutional. The power segment is estimated to hold the largest market share by 2022. Increased investments in renewable energy sources such as solar and wind are expected to drive the power segment 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. North America is expected to dominate the power system simulator market during the forecast period. 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. The figure below shows the market sizes and CAGRs for the year 2022 in various regions.
The major factor restraining the growth of the power system simulator market is the lack of data security. Increasing occurrences of viruses and cyber-attacks are leading to security concerns. Important information can be stolen by malicious viruses in computer systems, which can cause a major loss to industries.
Some of the leading players in the power system simulator market include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), ETAP (US), RTDS Technologies (Canada), MathWorks (US), OPAL-RT (Canada), and Eaton (Ireland).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Power System Simulator Market, By Module
7 Power System Simulator Market, By Offering
8 Power System Simulator Market, By End-User
9 Power System Simulator Market, By Region
10 Competitive Landscape
11 Company Profiles
- Rtds Technologies
- Schneider Electric
For more information about this report visit https://www.researchandmarkets.com/research/z343ht/power_system?w=5
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