Power System Analysis Software Market Analysis | Coherent Market Insights - PowerPoint PPT Presentation

View by Category
About This Presentation

Power System Analysis Software Market Analysis | Coherent Market Insights


Read here the latest updates on the " Power System Analysis Software Market Analysis" published by CMI team – PowerPoint PPT presentation

Number of Views:31


Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Power System Analysis Software Market Analysis | Coherent Market Insights

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

  • 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.

Market Drivers
  • Increasing demand for electric power is expected
    to drive growth of the Global Power System
    Analysis Software Market during the forecast
  • 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.

  • Encouraging policies and regulations present is
    expected to propel the global power system
    analysis software market growth over the forecast
  • 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

  • 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
  • Figure 1 Global Power System Analysis Software
    Market Share (), in terms of Value, By Region,

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
  • 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.

(No Transcript)
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.

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

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

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.

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.

  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com/

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

Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

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