Global Power System Analysis Software Market to Grow at 12.6% CAGR between 2016 and 2024

The report is titled ‘Power System Analysis Software Market (Implementation Model - On- premise and Cloud-based; Application - Distribution and Transmission) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.’ The report has been published by Transparency Market Research and aims at providing readers with useful and critical information about the market trends, opportunities, and the challenges faced by the global power system analysis software market.

Ask for Sample Copy @ https://www.mrrse.com/sample/1673

The growing demand for electric power and proliferation of smart power technologies are leading to a rise in the demand for power system analysis software, stimulating this market to expand at a CAGR of 12.6% between 2016 and 2024. The power system analysis software market was valued at US$3.54 bn in 2015, states a latest report that is now available on Market Research Reports Search Engine (MRRSE).

Power system analysis software is used by utility providers to minimize their losses during electricity generation and distribution. It helps utility providers to optimize the efficiency of electricity production. The power system analysis software, thus, plays an important role in the energy and utilities sector. The encouragement by governments in different countries to adopt power system analysis software is expected to fuel the adoption of these systems across the globe. The growing energy and utility sector in Asia Pacific will substantially drive the market in the future.

The most significant driver of the global power system analysis software market is the rising level of investments made on smart grid systems. Another factor contributing to the market’s success is the search for reliable solutions by utility providers, to optimize the efficiency of the power system analysis. The rising advancement in Big Data analytics and the growing adoption of the Internet of Things (IoT) are boosting the global power system analysis software market. Thus, with the increasing penetration and advancements of these solutions, the market is expected to witness a high growth rate in the coming years.

For more information about this report visit: https://www.mrrse.com/power-system-analysis-software-market

On the basis of application, the power system analysis software market is segmented into distribution and transmission. The distribution segment is expected to expand at a 12.9% CAGR from 2016 to 2024. Region-wise, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. While North America held the largest market for power system analysis software in 2015, Asia Pacific will be the fastest-growing region during the forecast period.

Key players studied in the report include: Siemens AG, BB Ltd., General Electric Company, ETAP/Operation Technology, Inc., Schneider Electric DMS NS, Atos SE, Artelys SA, Operation Simulation Associates, Inc., PSI AG, Unicorn Systems, Electricity Coordinating Center Ltd., Energy Exemplar, PowerWorld Corporation, Nexant Inc., Open Systems International, Inc., Electrocon International Inc., Pöyry, Eaton Corporation Plc, Neplan AG, and DIgSILENT GmbH.

About MRRSE

Market Research Reports Search Engine (MRRSE) is an industry-leading database of market intelligence reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

Contact Us

State Tower
90, State Street
Suite 700
Albany, NY – 12207
United States Telephone: +1-518-730-0559
Email: sales@mrrse.com
Website: https://www.mrrse.com/

This release was published on openPR.