Power System Analysis Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Albany, NY -- (SBWire) -- 10/26/2018 --The power system analysis software market report provides analysis for the period 2015–2025, wherein the period from 2017 to 2025 is the forecast period and 2016 is the base year. The report covers all the major trends and technologies playing a key role in power system analysis software market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market's growth during the said period. The study provides a holistic perspective on the power system analysis software market's growth throughout the above mentioned forecast period in terms of revenue (in US$ Mn), across different geographies, including Asia Pacific, Latin America, North America, Europe, and Middle East & Africa (MEA).

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The global power system analysis software Market be worth US$11,585.7 mn by 2025, expanding at a CAGR of 12.7% between 2017 and 2025. On the basis of geography, it is expected that North America will continue to lead in the market. This region accounted for 33% of the total market in 2016, driven by smart grid systems. In terms of fastest growth, it is expected that Asia Pacific will expand at the fastest CAGR during the assessment period, led by China, India, Japan, and Australia.

In terms of implementation model, this market is segmented into cloud-based and on-premise. Of these the on-premise implementation segment accounted for a whopping 81% of the total revenue generated from the overall power system analysis software market in 2016. This growth is on account of on-premise implementation at power utilities buildings. On the other hand, the cloud-based implementation segment will exhibit a steady growth in the forecast. On account of the growing penetration and widespread outreach of the internet.

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In terms of implementation, the global market for power system analysis software is divided into on-premise and cloud-based models. Of the two, on-premise led the market in 2015 accounting for almost 82% revenue of the overall power system analysis software market. The on-premise implementation segment is expected to rise at a CAGR of 12.3% between 2016 and 2024. The on-premise model offers better system uptime as servers are owned and maintained at the power utilities' buildings, which is one of the key factors for the lead position of the segment.

However, cloud-based implementation segment is also expected to rise steadily due to the far-reach capabilities of the Internet.

On the basis of application, distribution and transmission are the segments into which the power system analysis software market is divided. In 2015, distribution held 62% of the overall market and is expected to display leading demand through the forecast period.

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Region-wise, North America is the leading contributor to the power system analysis software market. The region held almost 33.0% of the revenue in the global market in 2015. This is mainly due to massive investments in smart grid systems. Furthermore, ongoing efforts in Canada to upgrade its electricity infrastructure with the objective to minimize energy loss during production and transmission is expected to have a positive impact on the power system analysis software market in the coming years.