Global Power System Analysis Software Market: Snapshot
The solutions in the global power system analysis software market are utilized by the players in the power utilities industry to analyze, simulate, and model an efficient electrical system. Analysis provided by the solutions in the global power system analysis software market provides a number of benefits that can aid the players in power utilities industry to detect and diagnose various abnormalities as well as any types of defects. Moreover, these solutions offer a 24 by 7 access to historic data, various trends, and operational data. Solutions in the global power system analysis software market are also used by the vendors in the power utilities industry to measure adequacy calculations among the generation and the capacities of the electrical network.
Grab an Exclusive PDF Brochure of this Report @
Increasing demand for energy as well as inefficacies in the existing electrical supply are two of the most prominent driving factors influencing the growth in the global power system analysis software market in coming years. It is anticipated that the global demand for energy may exceed 778 joules by the year 2035. Vendors in the power utilities sector are hence rapidly adopting solutions from the global power system analysis software market to meet this rising demand. Furthermore, various government agencies and authorities across the globe are implementing strict rules and regulations in order to meet the required sustainable energy goals. This trend is also expected to favor the growth in the global power system analysis software market in coming years.
Rising urbanization has led to a staggering demand for electricity across the world. This has resulted in increase in the production of the electricity. Hence, various players in electricity generation are also adopting these novel solutions from the global power system analysis software market. Moreover, rising requirement for effective network for power transmission lines in order to improve electricity generation as well as distribution has also favored the expansion of the global power system analysis software market in recent past. Furthermore, rising need to boost the existing power distribution network by enhancing the transmission lines, and related infrastructure such as electric grids is also influencing the growth in the global power system analysis software market.
Get More Press Releases by TMR: https://www.prnewswire.com/news-releases/technical-support-outsourcing-market-gains-sizable-sales-prospects-due-to-increase-in-number-of-smes-globally-states-tmr-study-301502100.html
Global Power System Analysis Software Market: Snapshot
Power system analysis software facilitates utility companies to minimize loss of energy during electricity generation and electricity distribution, thereby optimizing operational efficiency. Due to incessant energy consumption along with challenges in energy production, utility providers are increasingly shifting towards power system analysis software to analyze data collected from smart power systems.
The increasing investment in smart power technologies is the primary factor boosting the global power system analysis software market. Apart from this, advancements in Big Data analytics and Internet of Things is also a major factor boosting the demand for power system analysis software. Furthermore, energy conservancy property of the software is gathering the attention of governments across the world for long-term energy security, which is another factor fuelling the market’s growth.
Buy now our premium research report @
Asia Pacific to Emerge as Significant Market
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.
However, rapid urbanization in emerging economies of Asia Pacific is expected to bode well for the growth of this regional market. In Asia Pacific, countries such as China, India, Japan, South Korea, and Australia are the leading domestic markets with large populations and high unmet energy needs.
Key companies operating in the power system analysis software market include ABB Ltd., General Electric Company, ETAP/Operation Technology Inc., PSI AG, Unicorn Systems, Electricity Coordinating Center Ltd., Open Systems International Inc., Electrocon International Inc., Eaton Corporation plc, Siemens AG, Schneider Electric DMS NS, Atos SE, Artleys SA, Energy Exemplar, PowerWorld Corporation, Nexant Inc., Pöyry, Neplan AG, and DIgSILENT GmbH
About Us:
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!
Contact
Rohit Bhisey
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
