Product Code: SE 9296
The power electronics software market is expected to grow from USD 3.33 billion in 2025 to USD 5.25 billion in 2030, at a CAGR of 9.5% during the forecast period. The major drivers contributing to the market growth are increasing demand for industrial automation and robotics, the growing shift towards electric vehicles, and the increasing adoption of renewable energy sources across diverse industries such as industrial, automotive, and consumer electronics.
Scope of the Report |
Years Considered for the Study | 2020-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Billion) |
Segments | By Type, Technology, Application, and Region. |
Regions covered | North America, Europe, APAC, RoW |
Rapid control prototyping technology is expected to grow at the second-highest CAGR during the forecast period
Rapid control prototyping (RCP) technology is expected to grow at the second-highest CAGR in the power electronics software market over the forecast period as it accelerates product development and enhances system design efficiency. Rapid control prototyping allows engineers to experiment quickly and validate control algorithms on real hardware without having to do lots of hand coding. This technology provides significant advantages by reducing the development cycle. The technology also helps to accelerate innovation within applications like EVs, renewable energy systems, and industrial automation, which have tremendous growth potential. The growth in the use of power electronic systems requires technologically advanced solutions such as RCP to be energy efficient. The RCP technology simulates and tests complex designs in real-world conditions for optimal performance and reliability before actual implementation. Moreover, with the increasing application of technologies like wide-bandgap semiconductors (SiC and GaN) and smart grid systems, accurate control mechanisms are required, RCP is one of the technologies used in designing these control mechanisms. Furthermore, flexibility, cost-effectiveness, and seamless integration with other software tools are some of the factors responsible for the growth of RCP technology in the power electronics software market during the forecast period.
The automotive segment is expected to grow at the highest CAGR during the forecast period
The automotive segment is expected to record the highest CAGR in the power electronics software market during the forecast period. This is mainly because of the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). As the trend toward sustainability and carbon neutrality goes up rapidly, manufacturers continue investing more resources into electrification technologies, which rely on power electronics for more efficient energy conversion, battery management, and motor control. Power electronics software is critical for designing and simulating these systems. The manufacturers use power electronics software to optimize performance, minimize energy losses, and enhance thermal management. Another factor propelling the growth of the advanced simulation and design software market in the automotive segment is the increasing demand for wide-bandgap semiconductors such as silicon carbide (SiC) and gallium nitride (GaN). Additionally, advanced driver-assistance systems (ADAS), connected car technologies, and autonomous driving systems have increased complexity in automotive electronics, thus requiring sophisticated software solutions for reliability and adherence to strict safety standards. Furthermore, the automotive segment accounts for a considerable share of the power electronics software market owing to significant growth in the production of electric vehicles in countries such as the US and China.
North America is expected to witness the second-highest CAGR during the forecast period
North America is expected to witness the second-highest CAGR in the power electronics software market during the forecast period, owing to the growing adoption of electric vehicles, renewable energy systems, and advancements in industrial automation. The North American region is experiencing significant investments in clean energy initiatives, smart grids, and next-generation power infrastructure, leading to a higher demand for advanced power electronics software solutions. Increasingly, electrification in the automotive industry, with companies like Tesla, General Motors, and Ford speeding up the production of electric vehicles, requires more complex software to optimize powertrains, manage batteries, and achieve energy efficiency. Growing data centers, 5G infrastructure, and aerospace & defense applications boost the demand for power electronics software in the region. Moreover, strong government incentives and investments in wide-bandgap semiconductors, including SiC and GaN, propel growth for the power electronics software market in the region.
Breakdown of Primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the profile of primary participants in the power electronics software market:
- By Company Type: Tier 1 - 25%, Tier 2 - 35%, Tier 3 - 40%
- By Designation Type: C Level - 40%, Director Level - 30%, Others - 30%
- By Region Type: North America - 40%, Europe - 25%, Asia Pacific - 20%, Rest of the World - 15%
The major players in the power electronics software market with a significant global presence include The MathWorks, Inc. (US), Keysight Technologies (US), Cadence Design Systems, Inc. (US), Synopsys, Inc. (US), and Altair Engineering Inc. (US).
Research Coverage
The report segments the power electronics software market and forecasts its size by type, technology, application, and region. It also comprehensively reviews drivers, restraints, opportunities, and challenges influencing market growth and covers qualitative and quantitative aspects of the market.
Reasons to buy the report:
The report will help market leaders and new entrants with information on the closest approximate revenues for the overall power electronics software market and related segments. It will also help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing adoption of renewable energy sources, growing shift towards electric vehicles, and advancements in semiconductor technologies), restraints (High initial cost of power electronics software and complexity and threat of data leakage), opportunities (Increasing growth of industrial automation and robotics, global expansion of smart homes and buildings), and challenges (Issues in integration and compatibility, lack of skilled professionals)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new solution and service launches in the power electronics software market
- Market Development: Comprehensive information about lucrative markets - the report analyses the power electronics software market across varied regions
- Market Diversification: Exhaustive information about new solutions and services, untapped geographies, recent developments, and investments in the power electronics software market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and solution and service offerings of leading players, including The MathWorks, Inc. (US), Keysight Technologies (US), Cadence Design Systems, Inc. (US), Synopsys, Inc. (US), and Altair Engineering Inc. (US)
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED AND REGIONAL SCOPE
- 1.3.2 INCLUSIONS AND EXCLUSIONS
- 1.3.3 YEARS CONSIDERED
- 1.4 CURRENCY CONSIDERED
- 1.5 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 List of primary interview participants
- 2.1.2.2 Breakdown of primary interviews
- 2.1.2.3 Key data from primary sources
- 2.1.3 SECONDARY AND PRIMARY RESEARCH
- 2.1.3.1 Key industry insights
- 2.2 MARKET SIZE ESTIMATION METHODOLOGY
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
- 2.2.2 TOP-DOWN APPROACH
- 2.2.2.1 Approach to arrive at market size using top-down analysis (supply side)
- 2.3 FACTOR ANALYSIS
- 2.3.1 DEMAND-SIDE ANALYSIS
- 2.3.2 SUPPLY-SIDE ANALYSIS
- 2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.5 RESEARCH ASSUMPTIONS
- 2.6 RISK ANALYSIS
- 2.7 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POWER ELECTRONICS SOFTWARE MARKET
- 4.2 POWER ELECTRONICS SOFTWARE MARKET, BY TYPE
- 4.3 POWER ELECTRONICS SOFTWARE MARKET, BY TECHNOLOGY
- 4.4 POWER ELECTRONICS SOFTWARE MARKET, BY APPLICATION
- 4.5 POWER ELECTRONICS SOFTWARE MARKET, BY REGION
- 4.6 POWER ELECTRONICS SOFTWARE MARKET, BY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Increasing adoption of renewable energy sources
- 5.2.1.2 Growing shift towards electric vehicles
- 5.2.1.3 Advancements in semiconductor technologies
- 5.2.2 RESTRAINTS
- 5.2.2.1 High initial cost of power electronics software
- 5.2.2.2 Complexity and threat of data leakage
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Growth of industrial automation and robotics
- 5.2.3.2 Global expansion of smart homes and buildings
- 5.2.4 CHALLENGES
- 5.2.4.1 Issues with integration and compatibility
- 5.2.4.2 Lack of skilled professionals
- 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
- 5.4 PRICING ANALYSIS
- 5.4.1 AVERAGE SELLING PRICE OF KEY PLAYERS, BY TECHNOLOGY
- 5.4.2 AVERAGE SELLING PRICE TREND, BY REGION, 2021-2024
- 5.5 VALUE CHAIN ANALYSIS
- 5.6 ECOSYSTEM ANALYSIS
- 5.7 TECHNOLOGY ANALYSIS
- 5.7.1 KEY TECHNOLOGIES
- 5.7.1.1 Electromagnetic interference (EMI) analysis
- 5.7.1.2 Power loss and efficiency modeling
- 5.7.2 COMPLEMENTARY TECHNOLOGIES
- 5.7.2.1 Digital signal processing
- 5.7.2.2 PCB design and layout software
- 5.7.3 ADJACENT TECHNOLOGIES
- 5.7.3.1 Digital twins
- 5.7.3.2 IoT and edge computing
- 5.8 PATENT ANALYSIS
- 5.9 TRADE ANALYSIS
- 5.9.1 IMPORT SCENARIO (HS CODE 8541)
- 5.9.2 EXPORT SCENARIO (HS CODE 8541)
- 5.10 KEY CONFERENCES AND EVENTS, 2025-2026
- 5.11 CASE STUDY ANALYSIS
- 5.11.1 ANSYS-POWERED SIMULATION OPTIMIZED INNOVATIVE BATTERY STORAGE SYSTEM FOR WARTSILA
- 5.11.2 ANYWAVES ACHIEVED RAPID ANTENNA INNOVATION WITH SIMULIA CST STUDIO
- 5.11.3 ADVANCING DC DISTRIBUTION WITH MULTIPHYSICS SIMULATION AT SUPERGRID INSTITUTE
- 5.12 INVESTMENT AND FUNDING SCENARIO
- 5.13 REGULATORY LANDSCAPE
- 5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.14 PORTER'S FIVE FORCE ANALYSIS
- 5.14.1 THREATS OF NEW ENTRANTS
- 5.14.2 THREATS 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 BUYING PROCESS
- 5.15.2 BUYING CRITERIA
- 5.16 IMPACT OF AI/GEN AI ON POWER ELECTRONICS SOFTWARE MARKET
6 POWER ELECTRONICS SOFTWARE MARKET, BY TECHNOLOGY
- 6.1 INTRODUCTION
- 6.2 RAPID CONTROL PROTOTYPING (RCP)
- 6.2.1 GROWING DEMAND FOR FASTER DEVELOPMENT CYCLES IN EVS AND RENEWABLE ENERGY SYSTEMS DRIVING ADOPTION OF RCP
- 6.3 EMBEDDED SYSTEM PROTOTYPING
- 6.3.1 PUSH FOR ENERGY-EFFICIENT DESIGNS AND IOT-ENABLED DEVICES DRIVING DEMAND FOR EMBEDDED SYSTEM PROTOTYPING
- 6.4 MODEL-BASED DESIGN (MBD)
- 6.4.1 INCREASING COMPLEXITY OF POWER SYSTEMS, DEMAND FOR SHORTER DEVELOPMENT CYCLES, AND ENHANCED DESIGN ACCURACY DRIVING ADOPTION
- 6.5 HARDWARE-IN-THE-LOOP (HIL) SIMULATION
- 6.5.1 NEED FOR SAFER AND COST-EFFECTIVE VALIDATION OF HIGH-POWER SYSTEMS AND SHIFT TOWARD AUTONOMOUS SYSTEMS FUELING DEMAND
- 6.6 OTHER TECHNOLOGIES
7 POWER ELECTRONICS SOFTWARE MARKET, BY TYPE
- 7.1 INTRODUCTION
- 7.2 DESIGN SOFTWARE
- 7.2.1 INCREASING DEMAND FOR COMPACT AND ENERGY-EFFICIENT SYSTEMS TO BOOST MARKET GROWTH
- 7.3 SIMULATION SOFTWARE
- 7.3.1 TRANSITION TO RENEWABLE ENERGY, INCREASING COMPLEXITY OF POWER GRIDS, AND DEMAND FOR RELIABLE EV POWERTRAINS DRIVING GROWTH
- 7.4 ANALYSIS SOFTWARE
- 7.4.1 PUSH FOR GREENER ENERGY SYSTEMS AND STRINGENT SAFETY REGULATIONS DRIVING DEMAND FOR ANALYSIS SOFTWARE
- 7.5 CONTROL SOFTWARE
- 7.5.1 SHIFT TOWARD AUTONOMOUS SYSTEMS AND IOT CONNECTIVITY FUELING DEMAND
- 7.5.2 ANALOG CONTROLLER
- 7.5.3 DIGITAL CONTROLLER
8 POWER ELECTRONICS SOFTWARE MARKET, BY APPLICATION
- 8.1 INTRODUCTION
- 8.2 AUTOMOTIVE
- 8.2.1 RAPID ELECTRIFICATION OF VEHICLES AND ADVANCEMENTS IN AUTONOMOUS DRIVING TECHNOLOGIES FUELING GROWTH
- 8.3 CONSUMER ELECTRONICS
- 8.3.1 RISING DEMAND FOR FEATURE-RICH AND ENERGY-EFFICIENT DEVICES TO DRIVE GROWTH
- 8.4 INDUSTRIAL
- 8.4.1 INCREASING ADOPTION OF INDUSTRY 4.0 TO DRIVE DEMAND
- 8.5 RENEWABLE ENERGY
- 8.5.1 NEED TO MAXIMIZE ENERGY CONVERSION EFFICIENCY AND ENSURE GRID COMPLIANCE TO DRIVE GROWTH
- 8.6 AEROSPACE & DEFENSE
- 8.6.1 EMERGENCE OF ELECTRIC AIRCRAFT AND UNMANNED AERIAL VEHICLES (UAVS) FUELING DEMAND
- 8.7 OTHER APPLICATIONS
9 POWER ELECTRONICS SOFTWARE MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 NORTH AMERICA
- 9.2.1 NORTH AMERICA: MACROECONOMIC OUTLOOK
- 9.2.2 US
- 9.2.2.1 Increasing demand for software solutions for accelerating EV development and ensuring compliance to drive growth
- 9.2.3 CANADA
- 9.2.3.1 Growing aerospace & defense and renewable energy industries to boost demand for power electronics software
- 9.2.4 MEXICO
- 9.2.4.1 Growing automotive sector to drive market
- 9.3 EUROPE
- 9.3.1 EUROPE: MACROECONOMIC FACTORS
- 9.3.2 GERMANY
- 9.3.2.1 Automotive sector's rapid transition towards electrification to drive demand
- 9.3.3 UK
- 9.3.3.1 Adoption of automation and smart technologies in thriving manufacturing sector boosting demand for software solutions
- 9.3.4 FRANCE
- 9.3.4.1 Push towards electrification of railways and incorporation of regenerative braking systems to support growth
- 9.3.5 ITALY
- 9.3.5.1 Growth in adoption of advanced manufacturing technologies to drive market
- 9.3.6 REST OF EUROPE
- 9.4 ASIA PACIFIC
- 9.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK
- 9.4.2 CHINA
- 9.4.2.1 Burgeoning electric vehicle production to boost demand for power electronics software solutions
- 9.4.3 JAPAN
- 9.4.3.1 Growing semiconductor industry to drive market growth
- 9.4.4 SOUTH KOREA
- 9.4.4.1 Exponential growth of semiconductor and electronics sector to boost market
- 9.4.5 INDIA
- 9.4.5.1 Shift towards electric vehicles and continuous investments in automotive sector to boost demand
- 9.4.6 REST OF ASIA PACIFIC
- 9.5 ROW
- 9.5.1 ROW: MACROECONOMIC OUTLOOK
- 9.5.2 MIDDLE EAST & AFRICA
- 9.5.2.1 Growing focus on renewable energy to contribute to market growth
- 9.5.2.2 GCC countries
- 9.5.2.3 Rest of Middle East & Africa
- 9.5.3 SOUTH AMERICA
- 9.5.3.1 Growing EV adoption in South America to propel growth
10 COMPETITIVE LANDSCAPE
- 10.1 OVERVIEW
- 10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020-2024
- 10.3 MARKET SHARE ANALYSIS, 2024
- 10.4 REVENUE ANALYSIS, 2021-2024
- 10.5 COMPANY VALUATION AND FINANCIAL METRICS, 2024
- 10.6 BRAND/PRODUCT COMPARISON
- 10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
- 10.7.1 STARS
- 10.7.2 EMERGING LEADERS
- 10.7.3 PERVASIVE PLAYERS
- 10.7.4 PARTICIPANTS
- 10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
- 10.7.5.1 Company footprint
- 10.7.5.2 Region footprint
- 10.7.5.3 Type footprint
- 10.7.5.4 Technology footprint
- 10.7.5.5 Application footprint
- 10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
- 10.8.1 PROGRESSIVE COMPANIES
- 10.8.2 RESPONSIVE COMPANIES
- 10.8.3 DYNAMIC COMPANIES
- 10.8.4 STARTING BLOCKS
- 10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
- 10.8.5.1 List of startups/SMEs
- 10.8.5.2 Competitive benchmarking of startups/SMEs
- 10.9 COMPETITIVE SITUATION AND TRENDS
- 10.9.1 PRODUCT LAUNCHES
- 10.9.2 DEALS
11 COMPANY PROFILES
- 11.1 INTRODUCTION
- 11.2 KEY PLAYERS
- 11.2.1 THE MATHWORKS, INC.
- 11.2.1.1 Business overview
- 11.2.1.2 Products/Solutions/Services offered
- 11.2.1.3 Recent developments
- 11.2.1.3.1 Product Launches
- 11.2.1.3.2 Deals
- 11.2.1.4 MnM view
- 11.2.1.4.1 Key strengths
- 11.2.1.4.2 Strategic choices
- 11.2.1.4.3 Weaknesses and competitive threats
- 11.2.2 KEYSIGHT TECHNOLOGIES
- 11.2.2.1 Business overview
- 11.2.2.2 Products/Solutions/Services offered
- 11.2.2.3 Recent developments
- 11.2.2.3.1 Product launches
- 11.2.2.3.2 Deals
- 11.2.2.4 MnM view
- 11.2.2.4.1 Key strengths
- 11.2.2.4.2 Strategic choices
- 11.2.2.4.3 Weaknesses and competitive threats
- 11.2.3 ALTAIR ENGINEERING INC.
- 11.2.3.1 Business overview
- 11.2.3.2 Products/Solutions/Services offered
- 11.2.3.3 Recent developments
- 11.2.3.4 MnM view
- 11.2.3.4.1 Key strengths
- 11.2.3.4.2 Strategic choices
- 11.2.3.4.3 Weaknesses and competitive threats
- 11.2.4 CADENCE DESIGN SYSTEMS, INC.
- 11.2.4.1 Business overview
- 11.2.4.2 Products/Solutions/Services offered
- 11.2.4.3 Recent developments
- 11.2.4.3.1 Product launches
- 11.2.4.3.2 Deals
- 11.2.4.4 MnM view
- 11.2.4.4.1 Key strengths
- 11.2.4.4.2 Strategic choices
- 11.2.4.4.3 Weaknesses and competitive threats
- 11.2.5 SYNOPSYS, INC.
- 11.2.5.1 Business overview
- 11.2.5.2 Products/Solutions/Services offered
- 11.2.5.3 Recent developments
- 11.2.5.3.1 Product Launches
- 11.2.5.3.2 Deals
- 11.2.5.4 MnM view
- 11.2.5.4.1 Key strengths
- 11.2.5.4.2 Strategic choices
- 11.2.5.4.3 Weaknesses and competitive threats
- 11.2.6 NATIONAL INSTRUMENTS CORP.
- 11.2.6.1 Business overview
- 11.2.6.2 Products/Solutions/Services offered
- 11.2.6.3 Recent developments
- 11.2.6.3.1 Product launches
- 11.2.6.3.2 Deals
- 11.2.7 RENESAS ELECTRONICS CORPORATION
- 11.2.7.1 Business overview
- 11.2.7.2 Products/Solutions/Services offered
- 11.2.7.3 Recent developments
- 11.2.7.3.1 Product launches
- 11.2.7.3.2 Deals
- 11.2.8 INFINEON TECHNOLOGIES AG
- 11.2.8.1 Business overview
- 11.2.8.2 Products/Solutions/Services offered
- 11.2.8.3 Recent developments
- 11.2.8.3.1 Product launches
- 11.2.8.3.2 Deals
- 11.2.9 DSPACE GMBH
- 11.2.9.1 Business overview
- 11.2.9.2 Products/Solutions/Services offered
- 11.2.9.3 Recent developments
- 11.2.9.3.1 Product Launches
- 11.2.9.3.2 Deals
- 11.2.10 SIEMENS
- 11.2.10.1 Business overview
- 11.2.10.2 Products/Solutions/Services offered
- 11.2.10.3 Recent developments
- 11.3 OTHER KEY PLAYERS
- 11.3.1 ANALOG DEVICES, INC.
- 11.3.2 SIDELINESOFT, LLC
- 11.3.3 AESIM.TECH
- 11.3.4 PLEXIM GMBH
- 11.3.5 MANITOBA HYDRO INTERNATIONAL LTD.
- 11.3.6 IMPERIX POWER ELECTRONICS
- 11.3.7 TYPHOON HIL, INC.
- 11.3.8 MIRABILIS DESIGN INC.
- 11.3.9 POWER SMART CONTROL
- 11.3.10 COMSOL
- 11.3.11 SPEEDGOAT GMBH
- 11.3.12 OPAL-RT TECHNOLOGIES, INC.
- 11.3.13 RTDS TECHNOLOGIES INC.
- 11.3.14 POWERSYS
- 11.3.15 AVL
12 APPENDIX
- 12.1 INSIGHTS FROM INDUSTRY EXPERTS
- 12.2 DISCUSSION GUIDE
- 12.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 12.4 CUSTOMIZATION OPTIONS
- 12.5 RELATED REPORTS
- 12.6 AUTHOR DETAILS