Power Electronics Software Market - Global Forecast to 2029

Report Code: UC-SE-6694 Feb, 2025, by marketsandmarkets.com

Power electronics software designs, simulates, controls, and optimizes power electronic circuits and systems. It involves converting, controlling, and managing electrical power using electronic devices such as transistors, diodes, capacitors, and inductors. The power electronic software market is gaining significant attention as the global demand for energy-efficient systems, renewable energy integration, and electrification of various industries continues to rise. The software used in power electronics enables optimal control, design, simulation, and operation of power electronic devices, ensuring efficiency, reliability, and safety.

Impact of AI on power electronics software market.

Integrating artificial intelligence (AI) into the power electronics software market significantly influences its growth and adoption. AI enhances the functionality of power electronics software by enabling real-time optimization, predictive maintenance, and advanced data analysis. These features allow power systems to operate more efficiently, reducing energy loss and improving performance across various sectors such as automotive, renewable energy, and industrial automation. AI-driven software can process large volumes of data from power systems, learning from past patterns to predict failures, identify irregularities, and optimize real-time performance. As the power electronics market continues to grow, AI will play a crucial role in driving innovation, improving operational efficiency, and enabling more sustainable and autonomous power systems, making it a key factor in driving the growth of the power electronics software market.

Advancements in designing and simulation propel growth for power electronics software

Design software provides the tools necessary for engineers to conceptualize, create, and refine power electronic systems. It also ensures compliance with industry standards, helping engineers produce robust and reliable systems. Simulation is the process that allows engineers to model and analyze power systems in virtual environments, replicating real-world operating conditions without the need for physical prototypes. This capability is invaluable for predicting system behavior, identifying potential issues, and validating designs before implementation. One of the primary drivers of the power electronics software market is the continuous advancement in design and simulation. Modern industries demand faster, more accurate, and cost-effective solutions for developing power systems, and technologies like hardware-in-the-loop (HIL) simulation, model-based design (MBD), and rapid control prototyping (RCP) are meeting this need. These advancements have revolutionized how engineers design and validate power systems, enabling virtual testing and real-time simulation without costly physical prototypes. For instance, HIL simulation allows engineers to connect real hardware components to a simulated environment, enabling them to test control systems under realistic conditions. These technologies reduce development costs and enhance the precision and scalability of power electronics systems.

The shortage of skilled professionals limits the growth of the power electronics software market

Developing, implementing, and maintaining sophisticated power electronics software requires expertise in system modeling, control theory, and embedded systems. However, the workforce needs more training and experience to meet these demands. The skills gap is especially noticeable in developing regions, where there is a lack of educational and training programs in power electronics engineering. Even in developed markets, the fast pace of technological advancement often surpasses the ability of professionals to stay updated, leading to a shortage of qualified talent. This challenge delays the adoption of advanced software solutions and increases business costs.

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TABLE OF CONTENTS

1.Introduction

1.1.Study Objectives

1.2.Market Definition and Scope

1.2.1.Inclusions and Exclusions

1.3.Study Scope

1.3.1.Markets Covered

1.3.2.Geographic Segmentation

1.3.3.Years Considered for the Study

1.4.Currency

1.5.Unit Considered

1.6.Limitations

1.7.Stakeholders

2.Research Methodology

2.1.Research Data

2.1.1.Secondary Data

2.1.1.1.Major Secondary Sources

2.1.1.2.Key Data from Secondary Sources

2.1.2.Primary Data

2.1.2.1.Primary Interviews with Experts

2.1.2.2.Key Data from Primary Sources

2.1.2.3.Key Industry Insights

2.1.2.4.Breakdown of Primaries

2.2.Market Size Estimation

2.2.1.Bottom-Up Approach

2.2.1.1.Approach for Capturing Market Share by Bottom-Up Analysis (Demand Side)

2.2.2.Top-Down Approach

2.2.2.1.Approach for Capturing Market Share by Top-Down Analysis (Supply Side)

2.3.Market Breakdown and Data Triangulation

2.4.Research assumptions

2.5.Risk assessment

2.6.Limitations of Research

3.Executive Summary

4.Premium Insights

5.Market Overview

5.1.Introduction

5.2.Market Dynamics

5.3.Trends/Disruptions Impacting Customer’s Business

5.4.Pricing Analysis

5.5.Supply Chain Analysis

5.6.Ecosystem Analysis

5.7.Investment and Funding Scenario

5.8.Technology Analysis

5.8.1.Key Technology

5.8.2.Complementary Technology

5.8.3.Adjacent Technology

5.9.Patent Analysis

5.10.Trade Analysis

5.11.Key Conferences and Events (2025-2026)

5.12.Case Study Analysis

5.13.Regulatory Landscape

5.13.1.Regulatory Bodies, Government Agencies, and Other Organizations

5.14.Porters Five Force Analysis

5.14.1.Threat from New Entrants

5.14.2.Threat of Substitutes

5.14.3.Bargaining Power of Suppliers

5.14.4.Bargaining Power of Buyers

5.14.5.Intensity of Competitive Rivalry

5.15.Key Stakeholders and Buying Criteria

5.15.1.Key Stakeholders in the Buying Process

5.15.2.Buying Criteria

5.16.Impact of AI/GenAI on the Power Electronics Software Market

6.Power Electronics Software Market, By Type

6.1.Introduction

6.2.Design Software

6.3.Simulation Software

6.4.Analysis Software

6.5.Control Software

6.5.1.Analogue Controllers

6.5.2.Digital Controllers

7.Power Electronics Software Market, By Technology

7.1.Introduction

7.2.Rapid Control Prototyping

7.3.Embedded System Prototyping

7.4.Model-Based Design

7.5.Hardware-in-the-Loop Simulation

7.6.Others

8.Power Electronics Software Market, By Application

8.1.Introduction

8.2.Automotive

8.3.Consumer Electronics

8.4.Industrial

8.5.Renewable Energy

8.6.Aerospace & Defense

8.7.Other Applications

9.Power Electronics Software Market, By Region

9.1.Introduction

9.2.North America

9.2.1.Macroeconomic Outlook for North America

9.2.2.US

9.2.3.Canada

9.2.4.Mexico

9.3.Europe

9.3.1.Macroeconomic Outlook for Europe

9.3.2.UK

9.3.3.Germany

9.3.4.France

9.3.5.Italy

9.3.6.Rest of Europe

9.4.Asia Pacific

9.4.1.Macroeconomic Outlook for Asia Pacific

9.4.2.China

9.4.3.Japan

9.4.4.South Korea

9.4.5.India

9.4.6.Rest of Asia Pacific

9.5.RoW

9.5.1.Macroeconomic Outlook for RoW

9.5.2.Middle East & Africa

9.5.2.1.GCC Countries

9.5.2.2.Rest of Middle East & Africa

9.5.3.South America

10.Power Electronics Software Market, Competitive Landscape

10.1.Key Player Strategies/Right to Win

10.2.Revenue Analysis

10.3.Market Share Analysis

10.4.Company Valuation and Financial Metrics

10.5.Product/Brand Comparison

10.6.Company Evaluation Matrix: Key Players, 2023

10.6.1.Stars

10.6.2.Emerging Leaders

10.6.3.Pervasive Players

10.6.4.Participants

10.6.5.Company Footprint: Key Players, 2023

10.6.5.1.Company Footprint

10.6.5.2.Region Footprint

10.6.5.3.Type Footprint

10.6.5.4.Application Footprint

10.7.Company Evaluation Matrix: Startups/SMEs, 2023

10.7.1.Progressive Companies

10.7.2.Responsive Companies

10.7.3.Dynamic Companies

10.7.4.Starting Blocks

10.7.5.Competitive Benchmarking: Startups/SMEs, 2023

10.7.5.1.Detailed List of Key Startups/SMEs

10.7.5.2.Competitive Benchmarking of Key Startups/SMEs

10.8.Competitive Situation and Trends

11.Power Electronics Software Market, Company Profiles

11.1.Key Players

11.1.1.Cadence Design Systems, Inc

11.1.2.dSPACE GmbH

11.1.3.Renesas Electronics Corporation

11.1.4.Infineon Technologies AG

11.1.5.ANSYS, Inc

11.1.6.Analog Devices, Inc.

11.1.7.Altair Engineering Inc.

11.1.8.Keysight Technologies

11.1.9.SIMBA

11.1.10.Synopsys, Inc.

11.2.Other Players

11.2.1.NL5

11.2.2.Plexim

11.2.3.PSCAD

11.2.4.NATIONAL INSTRUMENTS CORP.

11.2.5.imperix power electronics

12.Appendix

12.1.Discussion Guide

12.2.Knowledge Store: MarketsandMarkets’ Subscription Portal

12.3.Available Customizations

12.4.Related Reports

12.5.Author Details

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Power Electronics Software Market Size & Share