Power System Simulator Market Worth 1,180.6 Million USD by 2022

PUNE, India, December 15, 2017 /PRNewswire/ --

The report "Power System Simulator Market by Module (Load Flow, Short Circuit, Device Coordination Selectivity, Arc Flash), Offering (Hardware, Software, Services), End-User (Power Generation, T&D, O&G, Manufacturing, Metals), and Region - Global Forecast to 2022", Published by MarketsandMarkets™, the market is estimated to reach USD 836.1 Million in 2017 and is projected to reach USD 1,180.6 Million by 2022, growing at a CAGR of 7.14%, during the forecast period. The market is set to grow due to the booming power sector and augmented power generation capacities and the increased adoption of IoT and cloud platforms.

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Browse 73 market data Tables and 47 Figures spread through 142 Pages and in-depth TOC on "Power System Simulator Market - Global Forecast to 2022"

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The load flow segment is expected to hold the largest share of the Power System Simulator Market, by module, during the forecast period. 

Load flow modules help in planning future load expansions of power systems as well as optimizing existing networks. Planned expansion and optimization of existing networks using these modules help in reducing the overall downtime of the plant. Upcoming power projects in economies such India, Indonesia, Malaysia, South Africa, and Qatar are expected to boost the demand for load flow modules during the forecast period.

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The power segment is expected to dominate the power system stimulator market, by end-user, in 2017. 

The power segment comprises the power generation and transmission and distribution sub-segments. Power system stimulators find application in load planning, power quality, grids, arc flashes, and transmission and distribution. Increased investments in renewable energy, growing power generation capacities, and high growth rates in developing economies are driving the power segment. Most countries are focusing on diversifying their energy mixes and re-evolving microgrids, which is expected to boost the power segment of the power system stimulator market, by end-user.