openPR Logo
Press release

Power System Analysis Software Market (Implementation Model - On- premise and Cloud-based; Application - Distribution and Transmission) - Worldwide Analysis, Size, Prediction 2024

11-14-2016 06:57 PM CET | Industry, Real Estate & Construction

Press release from: MR

/ PR Agency: MR
Power System Analysis Software Market (Implementation Model -

Rising demand for electric power and growing smart power technologies have led to increased demand for power systems analysis software. The market for power system analysis software is anticipated to expand at a CAGR of 12.6% during the forecast period from 2016 to 2024. The global power system analysis software market was valued at US$ 3,540.4 Mn in 2015. The most significant factor fuelling the market is the rising level of investment on smart grid systems. Due to the ever-increasing demand for electricity, utility providers are seeking reliable solutions to optimize the efficiency of their power system analysis.

Another significant factor boosting the power system analysis software market’s growth is the rising advancement in Big Data analytics and the Internet of Things (IoT). Thus, with the increasing penetration and advancements of these solutions, the market for power system analytics software is predicted to witness strong growth in the coming years.

Power system analysis software enables utility providers to optimize their efficiency and minimize losses occurring in electricity generation and distribution. Thus, power system analysis software plays an important role in the energy and utilities sector. Moreover, government encouragement for the use of power system analysis software in different countries is expected to boost the adoption of these systems worldwide. This is another promising driver for the growth of the power system analysis software market during the forecast period. The growing energy and utility sector in Asia Pacific is also expected to substantially drive the market in the coming years. Countries such as China and India are expected to show strong growth during the forecast period.

The market for power system analytics software is segmented on the basis of implementation models and applications. On the basis of implementation models, the market is segmented into on-premise and cloud-based software segments. In 2015, the on-premise software segment was the most preferred, and accounted for around 82% of the revenue of the overall power system analysis software market. Moreover, this segment is expected to expand at a CAGR of 12.3% from 2016 to 2024.

On the basis of application, the power system analysis software market is classified into distribution and transmission. In 2015, distribution segment held the largest revenue share of around 62% of the overall power system analysis software market. Moreover, this segment is expected to expand at a CAGR of 12.9% from 2016 to 2024.

Geographically, North America is the largest market for power system analysis software, globally. In 2015, the region accounted for around 33% of its revenue. Furthermore, Asia Pacific is expected to witness the fastest growth during the forecast period. China, India, Japan, Australia, and South Korea are among the major markets for power system analysis software in this region.

Read More: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=7502

The power system analysis software market is highly fragmented and a few companies, including General Electric Company, ETAP, Siemens AG, and ABB Ltd., have established themselves. A large number of other regional players are located across different geographies. These players are well established in regional markets but have limited global presence. New product development in turn to increase the efficiency of the software has fueled demand and created greater opportunities.

Therefore, all the leading players are focused on bringing product advancement to power system analysis software. Moreover, companies also focused on strengthening their positions through acquisitions and partnerships. For instance, in February 2016, General Electric Company (GE) completed the acquisition of Alstom which it had begun in 2014. GE has expanded its presence in vital and emerging markets; for example, in India it has nearly doubled its revenue after acquiring Alstom. Moreover, in September 2014, ETAP/Operation Technology, Inc. partnered with the U.S.-based OSIsoft, LLC to provide power management solutions for continuous monitoring, optimization, automation, and control of electrical power systems for utilities, smart cities, process industries, mission critical facilities, micro-grids, and government operations.

Some of the major players in the global power system analysis software market are ABB Ltd., Siemens AG, General Electric Company, Schneider Electric DMS NS, ETAP/Operation Technology, Inc., Atos SE, Artelys SA, PSI AG, Operation Simulation Associates, Inc., Unicorn Systems, Energy Exemplar, Electricity Coordinating Center Ltd., PowerWorld Corporation, Open Systems International, Inc., Nexant Inc., Electrocon International Inc., Pöyry, DIgSILENT GmbH, Eaton Corporation Plc, and Neplan AG.

About Us

TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

90 State Street Suite 700

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Power System Analysis Software Market (Implementation Model - On- premise and Cloud-based; Application - Distribution and Transmission) - Worldwide Analysis, Size, Prediction 2024 here

News-ID: 381995 • Views: 328

More Releases from MR

auspicious days marking Diwali, The Festival of Lights
Diwali or Deepavali, the 5 day Festival of Lights is one of the most significant festivals in Indian culture. The actual day of Diwali is traditionally celebrated on the festival’s third day, which this year falls on Wednesday 7th November, 2018. It sees millions attend firework displays, prayers and celebratory events across the world every autumn. The festival is celebrated by Hindus, Sikhs and Jains; bringing family and friends
Actuators and Valves Market- Actuators (Pneumatic, Hydraulic, Electric, Mechanic …
Actuators and Valves Market: Snapshot The growth in urbanization is creating a significant demand for public and private sector infrastructure development such as power stations, water supply, electricity grids, and water treatment plants, which is driving the global actuators and valves market. Rapid urbanization in emerging markets and an increase in urban areas in developed economies is the biggest factor driving the actuators and valves market worldwide. The use of simulation software
Intelligent Virtual Assistant Market (Technology - Text-to-Speech Recognition, S …
Intelligent Virtual Assistant Market: Snapshot Technological advancements resulting from the digital revolution have significantly transformed consumer expectations. This, in turn, has spurred the introduction of a more sophisticated and effective work ecosystem for customers. Intelligent virtual assistants are one such example and the adoption of this technology can now be seen in various industries such as healthcare, travel, insurance, and government. Based on this rapidly growing trend, the global intelligent virtual assistant

All 4 Releases


More Releases for Power

Brisbane Power Electricians
Brisbane Power is a family owned business of second generation Electricians. From our humble beginnings in 1978, we boast 28 years of experience in electrical services across Brisbane and surrounds. We provide unparalleled 24 hour emergency electrical services to homes and businesses. Brisbane Power is a family owned business of second generation Electricians. From our humble beginnings in 1978, we boast 28 years of experience in electrical services across Brisbane and
Biogas Power Plants Market
This report studies the global Biogas Power Plants market, analyzes and researches the Biogas Power Plants development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like Wartsila FI Air Liquide FR EnviTec Biogas AG DE Scandinavian Biogas SE PlanET Biogas Global DE Gasum Oy FI Ameresco, Inc US Agrinz Technologies AT? SP Renewable Energy Sources IN Beijing Sanyi Green Energy Development CN? Quadrogen CA IES BIOGAS IT? Biofuel
Temporary Power Generation/Power Rental Market Analysis by Leading Manufacturers …
A new research study from HTF MI with title Global Temporary Power Generation/Power Rental Market Size, Status and Forecast 2025 provides an in-depth assessment of the Temporary Power Generation/Power Rental including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies. The research study provides forecasts for Temporary Power Generation/Power Rental investments till 2022. Access Sample Copy @: https://www.htfmarketreport.com/sample-report/1191683-global-temporary-power-generation-power-rental-market-2 If you are involved in
Medical Power Market Medical Power Market
This report studies Medical Power in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. Request for discount @ https://www.researchtrades.com/discount/1445183 This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering Astrodyne TDI (US) CUI Inc. (US) Delta Electronic, Inc (TW) Excelsys
Kuwait Power Market to have Surplus Power
Electricity plays a major role in the development of a region, and the electricity generation, transmission and distribution infrastructure serves as a measure of progress in the region. Energy in the form of electricity has become an indispensable part of our everyday lives. Nowadays, power generation uses a variety of sources ranging from fossil fuels like coal and oil, to renewable sources like wind and solar. The energy mix for
Connectivity for power-applications
Halver, 18 June 2015 – At the SPS IPC Drives 2014 in Nuremberg, the connector- and housing specialist ESCHA presented connectivity for power applications. The 4-pole M12x1 connectors are predestinated for power transmission and are available as of now. With the newly developed products identified as ‘Power S‘ or ‘Power T‘, ESCHA offers a consistent- and a qualitatively high-grade M12x1-connectivity portfolio for sensors-, data-, and power supply. The trend moves towards