Power system simulation is an established application for modelling, analysing, and optimising the performance of electrical power systems. Such simulators are crucial to ensuring the performance, reliability, and robustness of power networks as they add and convert renewable energy supplies to make them considerably brighter. They enable utilities and grid operators to simulate various scenarios, foresee potential problems that may arise under certain situations, and contribute to the development of efficient grid management and optimisation approaches.

Drivers: Growing demand for power system simulators due to increased power production capacity and a rapidly expanding power sector worldwide is likely to fuel the growth of the power system simulator market during the forecast period. Other considerations include the growing usage and preference for the Internet of Things and cloud platforms, which are projected to drive demand for power system simulators. Also, Rising demand for power system simulators as a result of reduced overall project time and cost, as well as increased investment by governments in emerging nations, are expected to fuel the potential market growth throughout the forecast period. Big Data analytics also contribute to the growth of the power system simulator industry by allowing for better informed operations and accurate system status representation.

Challenges: The availability and quality of data needed for accurate simulations is a major obstacle in the power system simulator industry. Power system simulators depend largely on large amounts of data, including current data on weather, generation, consumption, and equipment status. On the other hand, different locations and utilities may have very different levels of data consistency, quality, and availability. Due to problems including data fragmentation, a lack of standardised formats, and privacy concerns, obtaining high-quality data can be difficult. Incomplete or inaccurate data might produce simulation results that are untrustworthy, which in turn can impact operational plans and decision-making procedures. Collaborative efforts with utilities and data providers to improve standardisation and data sharing are part of the efforts being made to address this concern.

The global economic slowdown caused by the pandemic has reduced demand for new energy infrastructure projects, particularly those that use Power System Simulation. Furthermore, limits on travel and in-person meetings have limited companies' capacity to conduct business as usual, slowing market growth. On the other hand, the epidemic has underlined the need for dependable and robust electricity infrastructures. Furthermore, several countries have seen a rise in home energy usage due to remote employment and education. As a result, Power System Simulation software is becoming increasingly important in assisting utilities and grid operators in planning for and optimising their systems in response to this additional energy demand.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; ABB Ltd, Atos SE, Eaton Corporation plc, Energy Exemplar, ETAP, Fuji Electric Co, Ltd, General Electric Company (GE), Neplan AG, OPAL-RT Technologies, Inc, Open Systems International, Inc (OSI), PowerWorld Corporation, RTDS Technologies Inc, Schneider Electric SE, Siemens AG.

By Module: Based on the Module, Europe Power System Simulator Market is segmented as; Load flow, Harmonics, Short circuit, Device Coordination Selectivity, Arc Flash, Others.

By Component: Based on the Component, Europe Power System Simulator Market is segmented as; Hardware, Software, Services.

By End User: Based on the End User, Europe Power System Simulator Market is segmented as; Power, Industrial, Others.

By Region: This research includes data for Germany, France, Italy, UK, Russia, and the Rest of Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.