At 9.2% CAGR, the South America Power System Analysis Software Market is projected to be worth US$ 710.93 million by 2028, says Business Market Insights

According to Business Market Insights research, the South America power system analysis software market was valued at US$ 457.32 million in 2023 and is expected to reach US$ 710.93 million by 2028, registering a CAGR of 9.2% from 2023 to 2028. Increasing cases of power outages and rising adoption of smart grid technology are the critical factors attributed to the South America power system analysis software market expansion.

People and businesses are highly dependent on electricity for almost all operations. Therefore, there is a need for constant and uninterrupted power supply. However, there is a surge in power outages worldwide due to changing weather conditions, storms, and aging power infrastructure. Power system analysis software can help to predict the outage situation due to bad weather. It quickly analyzes the location of the damaged network and the extent of the damage. It monitors the damage situation and suggests the necessary actions. It suggests resource needs, dispatches the repair crews, and communicates key damage and restoration information internally and externally. Therefore, the rise in the cases of power outages worldwide is boosting the demand for power system analysis software to better manage power generation, transmission, and distribution, thereby contributing to the South America power system analysis software market growth.

On the contrary, high upfront investment and security challenges hurdles the growth of South America power system analysis software market.

Based on deployment model, the South America power system analysis software market is bifurcated into cloud and on-premises. The on-premises segment held 65.3% share of South America power system analysis software market in 2023, amassing US$ 298.59 million. It is projected to garner US$ 454.11 million by 2028 to expand at 8.7% CAGR during 2023–2028.

Based on application, the South America power system analysis software market is segmented into electric power generation, electric power distribution, and electric power transmission. The electric power generation segment held 51.3% share of South America power system analysis software market in 2023, amassing US$ 234.66 million. It is projected to garner US$ 373.16 million by 2028 to expand at 9.7% CAGR during 2023–2028.

Based on voltage type, the South America power system analysis software market is segmented into low voltage, medium voltage, and high voltage. The low voltage segment held 52.9% share of South America power system analysis software market in 2023, amassing US$ 241.83 million. It is projected to garner US$ 386.17 million by 2028 to expand at 9.8% CAGR during 2023–2028.

Based on industry vertical, the South America power system analysis software market is segmented into oil and gas, manufacturing, transportation, mining, renewables, non-renewables, and others. The oil and gas segment held 34.9% share of South America power system analysis software market in 2023, amassing US$ 159.67 million. It is projected to garner US$ 247.47 million by 2028 to expand at 9.2% CAGR during 2023–2028. 

Based on country, the South America power system analysis software market is segmented into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 58.3% share of South America power system analysis software market in 2023. It was assessed at US$ 266.63 million in 2023 and is likely to hit US$ 425.24 million by 2028, exhibiting a CAGR of 9.8% during the forecast period.

Key players profiles in the South America power system analysis software market report ABB Ltd; DIgSILENT GmbH; General Electric Co; Neplan AG; Operation Technology Inc; RINA SpA; Schneider Electric SE; Siemens AG; and Trimble Inc, among others. 

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