Power System Analysis Software Market Analysis | Coherent Market Insights

1

• Coherent Market Insights
• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
• COVID-19 Impact Tracker

2
POWER SYSTEM ANALYSIS SOFTWARE MARKET ANALYSIS

• Power System Analysis Software Market, By
  Implementation model (On-premise and
  Cloud-based), by Application (Distribution and
  Transmission) and by Region (North America,
  Europe, Asia Pacific, RoW) - Size, Share,
  Outlook, and Opportunity Analysis, 2020 2027
• The global power system analysis software market
  was valued at US 5,598.5 Mn in 2019 and is
  forecast to reach a value of US 14715.3 Mn by
  2027 at a CAGR of 12.8 between 2020 and 2027.

3
Market Drivers

• Increasing demand for electric power is expected
  to drive growth of the Global Power System
  Analysis Software Market during the forecast
  period
• Growing urbanization has led to increased demand
  for electricity worldwide, which in turn, has
  resulted in increased electricity production.
  According to Coherent Market Insights analysis,
  electricity production has increased at a CAGR of
  9 from 2010-2014. Furthermore, it has compelled
  power utility companies across the globe to set
  up a network of power transmission lines as well
  as boost the existing power transmission lines,
  grids, and related infrastructure, in order to
  obtain improved and more efficient electricity
  generation transmission and distribution.
  Therefore, these factors are expected to drive
  growth of the global power system analysis
  software market during the forecast period.

4

• Encouraging policies and regulations present is
  expected to propel the global power system
  analysis software market growth over the forecast
  period
• Governments and regulatory authorities are
  implementing encouraging policies for power
  system analysis software. These authorities are
  also implementing smart power technologies
  through incentives and mandates. Moreover, this
  pace and scale of deployment are greater in
  emerging countries such as China and India. For
  instance, the U.K. government made it mandatory
  to deploy smart electric meters in homes and
  businesses until 2019. The U.K. government is
  expected to invest US 19,500 Mn for this
  project. The Chinese government has already
  started implementing smart grids through its 12th
  Five-Year Plan on Smart Grid Major Science and
  Technology Industrialization Projects, calling
  for massive investment in smart grid technology.
  As part of the plan, the State Grid Corporation
  of China announced that it would deploy 300
  million smart meters by 2015 and up to 380
  million meters by 2020. Hence, these factors are
  expected to propel the market growth in the near
  future.

5

• North America held dominant position in the
  global power system analysis software market
  in 2019, accounting for 31.6 share in terms of
  value, followed by RoW, Asia-Pacific and Europe
  respectively.
• Figure 1 Global Power System Analysis Software
  Market Share (), in terms of Value, By Region,
  2019

6
Market Restraint

• High upfront investment and security challenges
  are expected to restrain growth of the global
  power system analysis software market during the
  forecast period The implementation of smart
  power analysis software requires significant
  upfront power utilities. Furthermore, there are
  several institutional barriers that hinder in
  generating ample monetary help from the
  government to invest in these technologies. On
  the contrary, there is a lack of willingness in
  power utilities to improve grid efficiency and
  motivation to improve grid efficiency because of
  these huge investments. The impact of this
  restraint is expected to be high during
  short-term forecast period. However, it would go
  down to moderate during medium- and long-term
  forecast periods due to increasing government
  support.
• Incompetency to handle novel technology is
  expected to hinder the global power system
  analysis software market growth over the forecast
  period The smart power system technologies in
  a typical combination that involves controls,
  sensors, and software to monitor and analyze
  power systems, which require skilled operators to
  handle the system properly. For instance, in 2003
  a power outage that affected the U.S. and Canada
  was the consequence of a human error and resulted
  in losses worth US 6,000 Mn. The operator, while
  resolving an error in a telemetry device, forgot
  to restart the monitoring system. Therefore,
  these factors are expected to hinder the market
  growth over the forecast period.

7
(No Transcript)
8
Market Opportunities

• Increased demand for constant and uninterrupted
  electric power supply can present major growth
  opportunities Power utilities are facing
  challenges to provide uninterrupted power supply,
  in order to rise industrialization. For instance,
  in 2003, a power outage in Italy affected 50
  million people for more than 12 hours. Similarly,
  a power outage was reported in the U.S. and
  Canada in the same year, which attracted
  attention to reliability issues. Furthermore,
  according to Accentures study, in 2012, the
  average duration of electricity interruption was
  the highest in China at 480 minutes, followed by
  Canada and Australia electricity interruption of
  311 minutes and 262 minutes respectively.
• Rising investments in smart power technology can
  provide major business opportunities According
  to a study by the market intelligence firm
  Northeast Group, Southeast Asian countries are
  expected to invest US 13,600 Mn in smart power
  technology infrastructure between 2014 and 2024.
  This involves investment in smart metering and
  modernization of electricity transmission and
  distribution networks with sensors, software, and
  communications. This, in turn, would generate new
  opportunities in the market. By 2024, Thailand,
  Indonesia, Malaysia, Singapore, the Philippines,
  and Vietnam are expected to be the largest
  markets for smart power technologies and in turn,
  would generate new demands for power system
  analysis software.

9
Figure 2 Global Power System Analysis Software
Market Value (US Mn), 2017 - 2027
10
Market Trends

• Growing environmental concerns regarding
  existing electricity ecosystem Digital
  technologies have played an integral part in the
  modernization of many sectors of the world
  economy and have resulted in increased efficiency
  and productivity while bringing in new
  opportunities in these sectors. However, the same
  cannot be stated for the electric power sector,
  which has failed to keep up with fast
  modernization. Many power utilities, especially
  in emerging economies such as India and China use
  the same designs they did when most of the grid
  was built in the late 1960s and 1970s. For
  instance, the traditional U.S. electrical grid
  was designed neither with the latest technology
  nor with the goal of supporting a high-tech
  economy and enabling low-carbon technologies,
  energy efficiency, and conservation.
• Accommodating the distributed power generation
  from renewable sources In 2012, the
  International Renewable Energy Agency announced
  the Global Renewable Energy Roadmap to
  proliferate the allocation of renewables in the
  global energy production mix by 2030. The white
  paper published by the International Renewable
  Energy Agency in 2013 showed the way to achieve
  this target. The paper recommended that the share
  of renewables needs to be at least doubled from
  the current 20. Denmark has successfully
  integrated smart electric technologies to support
  wind energy usage in electricity generation
  penetration. Notably, Denmarks 30 of its
  electricity is generated from wind energy.
  Denmark also plans to increase wind energy
  penetration to 50 by 2025.

11
Global Power System Analysis Software Market -
Impact of Coronavirus (Covid-19) Pandemic

• Due to Covid-19 pandemic, many industries
  witnessed significant shift in their business.
  There is significant impact on power system
  analysis software market due to this pandemic.
  Every country is strictly following complete
  lockdown and due to this all manufacturing
  industries across the globe have been temporarily
  shut down. This has reduced the electricity
  demand from industrial sector and increased the
  demand from residential sector. The demand of
  Power Analysis software is increased as companies
  are using these software to analyze the consumer
  behavior.

12
Competitive Section

• Key players operating in the global power system
  analysis software market are ABB Ltd.,
  Electricity Coordinating Center Ltd., Siemens AG,
  Energy Exemplar, Atos SE, General Electric
  Company, Unicorn Systems, General Electric
  Company, ETAP/Operation Technology, Inc.,
  Operation Simulation Associates, Inc., Schneider
  Electric DMS NS, PSI AG, and Artelys SA.

13
Key Developments

• Major companies in the market are focused on
  contracts and agreements, in order to gain a
  competitive edge in the market. For instance, in
  August 2019, ABB Ltd. entered into contract with
  Hitachi to provide software solution for
  electricity balancing market system.
• Key players are involved in contracts and
  agreements, in order to enhance the market
  presence. For instance, in May 2017, Siemens AG
  entered into an agreement with African countries
  Uganda and Sudan. The Memoranda of Understanding
  states that the company would help these
  countries in the areas of power supply industry,
  transportation and healthcare.

14

• Request Sample Report
• Request Customization
• Download PDF Brochure
• Talk to Analyst
• Reference https//www.coherentmarketinsights.com/
  market-insight/power-system-analysis-software-mark
  et-3937

15
About Us

• Coherent Market Insights is a global market
  intelligence and consulting organization focused
  on assisting our plethora of clients achieve
  transformational growth by helping them make
  critical business decisions.
• What we provide
• Customized Market Research Services
• Industry Analysis Services
• Business Consulting Services
• Market Intelligence Services
• Long term Engagement Model
• Country Specific Analysis

16
Contact Us

• Mr. Shah
• Coherent Market Insights Pvt.Ltd.
• Address 1001 4th Ave, 3200 Seattle, WA 98154,
  U.S.
• Phone [phone]
• Email sales_at_coherentmarketinsights.com

17

• Thank You!
• Kindly follow CMI Social Media Profiles for
  the latest company updates
• Facebook
• Linkedin
• Twitter
• https//www.coherentmarketinsights.com/