At 11.1% CAGR, the Europe Power System Analysis Software Market is projected to be worth US$ 3,240.21 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe power system analysis software market was valued at US$ 1,911.57 million in 2023 and is expected to reach US$ 3,240.21 million by 2028, registering a CAGR of 11.1% from 2023 to 2028. Rising demand for electricity and rising adoption of smart grid technology are the critical factors attributed to the Europe power system analysis software market expansion.

Power system analysis software plays an important role in effective electricity generation, transmission, and distribution. It ensures a safe, reliable, and efficient working of power system. The software analysis helps to design, simulate, monitor, optimize, control, and automate power systems. Hence, the adoption of such software in the power industry is increasing. Many industry players are engaged in providing power system analysis software. For instance, Siemens provides PSS power system simulation and modeling software, which helps the grid operators simulate, analyze, and optimize the power grids. Thus, the rising demand for electric power is contributing to the growth of the Europe power system analysis software market.  

On the contrary, high upfront investment and security challenges hurdles the growth of Europe power system analysis software market.

Based on deployment model, the Europe power system analysis software market is bifurcated into cloud and on-premises. The on-premises segment held 61.7% share of Europe power system analysis software market in 2023, amassing US$ 1,179.35 million. It is projected to garner US$ 1,947.49 million by 2028 to expand at 10.6% CAGR during 2023–2028.

Based on application, the Europe power system analysis software market is segmented into electric power generation, electric power distribution, and electric power transmission. The electric power generation segment held 42.4% share of Europe power system analysis software market in 2023, amassing US$ 809.85 million. It is projected to garner US$ 1,418.53 million by 2028 to expand at 11.9% CAGR during 2023–2028.

Based on voltage type, the Europe power system analysis software market is segmented into low voltage, medium voltage, and high voltage. The low voltage segment held 46.6% share of Europe power system analysis software market in 2023, amassing US$ 891.35 million. It is projected to garner US$ 1,565.86 million by 2028 to expand at 11.9% CAGR during 2023–2028.  

Based on industry vertical, the Europe power system analysis software market is segmented into oil and gas, manufacturing, transportation, mining, renewables, non-renewables, and others. The oil and gas segment held 30.7% share of Europe power system analysis software market in 2023, amassing US$ 587.11 million. It is projected to garner US$ 991.61 million by 2028 to expand at 11.1% CAGR during 2023–2028.  

Based on country, the Europe power system analysis software market is segmented into the UK, Germany, France, Russia, Italy, and the Rest of Europe. Our regional analysis states that the UK captured 29.5% share of Europe power system analysis software market in 2023. It was assessed at US$ 563.82 million in 2023 and is likely to hit US$ 998.90 million by 2028, exhibiting a CAGR of 12.1% during the forecast period.  

Key players profiles in the Europe power system analysis software market report ABB Ltd; DIgSILENT GmbH; General Electric Co; Neplan AG; Operation Technology Inc; RINA SpA; Schneider Electric SE; Siemens AG; and Trimble Inc, among others.

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