DELRAY BEACH, Fla., Feb. 17, 2025 /PRNewswire/ -- The power electronics software market is expected to reach USD 5.25 billion by 2030 from USD 3.33 billion in 2025, growing at a CAGR of 9.5% from 2025 to 2030 according to a new report by MarketsandMarkets. Power electronics software enables the design, simulation, and optimization of power electronic systems in the industrial, consumer electronics, automotive, renewable energy, aerospace, and defense industries. The market is experiencing significant growth mainly due to the increasing adoption of renewable energy sources, the growing shift towards electric vehicles, and advancements in semiconductor technologies.
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Browse in-depth TOC on "Power Electronics Software Market"
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Power Electronics Software Market Report Scope:
Report Coverage | Details |
Market Revenue in 2025 | $ 3.33 billion |
Estimated Value by 2030 | $ 5.25 billion |
Growth Rate | Poised to grow at a CAGR of 9.5% |
Market Size Available for | 2020-2030 |
Forecast Period | 2025-2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Technology, Application, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Issues with integration and compatibility |
Key Market Opportunities | Growth of industrial automation and robotics |
Key Market Drivers | Increasing adoption of renewable energy sources |
The industrial segment is expected to hold the largest market size during the forecast period.
The industrial sector holds the largest market size during the forecast period of the power electronics software market due to its widespread usage in automation, motor drives, renewable energy systems, and power inverters. With the increasing adoption of Industry 4.0 and smart manufacturing practices, the demand for optimizing energy consumption and improving operational efficiencies is growing. Power electronics software helps power management system designs and simulations achieve efficiency and precision in most industrial equipment and processes. Moreover, the high demand for energy-saving technologies and a need to comply with regulations make power electronics software prevalent in most industrial applications. The need for advanced systems in factories, with the transition to renewable energy, boosts demand for the power electronics software market.
The design software segment is expected to exhibit the second-highest CAGR during the forecast period.
The design software segment is expected to register the second-highest CAGR in the type of segment of the power electronics software market during the forecast period. The growth can be attributed to the critical role of design software in enhancing efficiency, performance, and reliability in power electronic systems. As demand for electric vehicles, renewable energy systems, and industrial automation continues to grow, the requirement for an efficient, optimized design for inverter, converter, and motor drive components is growing. Design software offers advanced simulation and modeling with prototyping, significantly reducing development time and costs and ensuring compliance with regulatory standards. Increasing implementations of wide bandgap semiconductors require dedicated and sophisticated design solutions to achieve higher efficiency. Moreover, advancement through digital twins enhances intelligent and low-energy-consuming design solutions. Owing to these factors, the demand for design software is growing across applications such as automotive, industrial, aerospace & defense, and renewable energy.
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Asia Pacific is expected to hold the largest market size during the forecast period.
Asia Pacific is expected to hold the largest power electronics software industry due to substantial investment in research and development and technology infrastructure. The growth can also be attributed to the increased adoption of electric vehicles, renewable energy systems, and industrial automation in various countries, including China, India, South Korea, and Japan. Due to the increasing penetration of advanced technologies like IoT, Al-enabled systems, and wide-bandgap semiconductors, including silicon carbide (SiC) and gallium nitride (GaN), the demand for innovative power electronics solutions increased to achieve energy efficiency and system optimization. Another driver for the growth of the market in the region is government policies focusing on increasing the use of renewable energy sources, the implementation of smart grids, and energy-efficient technologies. Moreover, the rising implementation of Industry 4.0 practices and cloud-based software solutions have further fueled the demand for the power electronics software market in the region.
The major players in power electronics software companies are MathWorks, Inc. (US), Keysight Technologies (US), Cadence Design Systems, Inc. (US), Synopsys, Inc. (US), Altair Engineering Inc. (US), NATIONAL INSTRUMENTS CORP. (US), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), dSPACE GmbH (Germany), and Siemens (Germany), Analog Devices, Inc. (US), Sidelinesoft, LLC (US), AESIM.tech (Canada), Plexim GmbH (Switzerland), Manitoba Hydro International Ltd. (Canada), Imperix power electronics (Switzerland), Typhoon HIL, Inc. (US), Mirabilis Design Inc. (US), Power Smart Control (Spain), COMSOL (Sweden), Speedgoat GmbH (Switzerland), Siemens (Germany), RTDS Technologies Inc (Canada), Powersys (France), AVL (Austria).
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