
Middle East & Africa Power System Analysis Software Market
No. of Pages: 147 | Report Code: BMIRE00028528 | Category: Technology, Media and Telecommunications
No. of Pages: 147 | Report Code: BMIRE00028528 | Category: Technology, Media and Telecommunications
Increasing Cases of Power Outages Drive Middle East & Africa Power System Analysis Software Market
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. For instance,
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 Middle East & Africa power system analysis software market growth.
Based on country, the Middle East power system analysis software market is segmented into Saudi Arabia, the UAE, Oman, Kuwait, Qatar, and the rest of Middle East. The region has experienced a rapid penetration of internet connectivity over the years. Government bodies have also increased their initiatives to promote the adoption of digital technologies across all industry sectors to increase efficiency and compete in the global market. For instance, in March 2021, the Saudi Arabia government launched the Digital Government Authority (DGA) to oversee the national digital strategy. In addition, the region comprises several growing economies, such as the UAE, Saudi Arabia, Oman, Kuwait, and Qatar, which are becoming potential markets for power system analysis software providers owing to a rapid rise in industrialization. Thus, the rise in digitization, coupled with growing industrialization, will contribute to the Middle East & Africa power system analysis software market. The region is rich in oil reserves and petroleum refineries. It is projected that oil product sales will reach 8–9 million barrels per day by the end of 2023 since projects for new refineries are open in the UAE, Iraq, Oman, and Saudi Arabia. In addition, the three major oil producers in the region are Iraq, Iran, and Saudi Arabia. Oman, Qatar, Kuwait, and the UAE are the next in the regional oil league countries. Currently, there are 53 operating refineries in the region. These refineries need an uninterrupted power supply to manage the power systems efficiently. Power system analysis software can help optimize the performance and production of these refineries.
Strategic insights for the Middle East & Africa Power System Analysis Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 679.44 Million |
Market Size by 2028 | US$ 1,105.95 Million |
Global CAGR (2023 - 2028) | 10.2% |
Historical Data | 2021-2022 |
Forecast period | 2024-2028 |
Segments Covered |
By Deployment Model
|
Regions and Countries Covered | Middle East and Africa
|
Market leaders and key company profiles |
The geographic scope of the Middle East & Africa Power System Analysis Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Middle East & Africa power system analysis software market is segmented into deployment model, application, voltage type, industry vertical, and country.
Based on deployment model, the Middle East & Africa power system analysis software market is bifurcated into cloud and on-premises. In 2023, the on-premises segment registered a larger share in the Middle East & Africa power system analysis software market.
Based on application, the Middle East & Africa power system analysis software market is segmented into electric power generation, electric power distribution, and electric power transmission. In 2023, the electric power generation segment registered a largest share in the Middle East & Africa power system analysis software market.
Based on voltage type, the Middle East & Africa power system analysis software market is segmented into low voltage, medium voltage, and high voltage. In 2023, the low voltage segment registered a largest share in the Middle East & Africa power system analysis software market.
Based on industry vertical, the Middle East & Africa power system analysis software market is segmented into oil and gas, manufacturing, transportation, mining, renewables, non-renewables, and other. In 2023, the oil and gas segment registered a largest share in the Middle East & Africa power system analysis software market.
Based on country, the Middle East & Africa power system analysis software market is segmented into Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and the Rest of Middle East & Africa. In 2023, Saudi Arabia segment registered a largest share in the Middle East & Africa power system analysis software market.
ABB Ltd; DIgSILENT GmbH; General Electric Co; Neplan AG; Operation Technology Inc; RINA SpA; Schneider Electric SE; Siemens AG; and Trimble Inc are the leading companies operating in the Middle East & Africa power system analysis software market.
The Middle East & Africa Power System Analysis Software Market is valued at US$ 679.44 Million in 2023, it is projected to reach US$ 1,105.95 Million by 2028.
As per our report Middle East & Africa Power System Analysis Software Market, the market size is valued at US$ 679.44 Million in 2023, projecting it to reach US$ 1,105.95 Million by 2028. This translates to a CAGR of approximately 10.2% during the forecast period.
The Middle East & Africa Power System Analysis Software Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Power System Analysis Software Market report:
The Middle East & Africa Power System Analysis Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Power System Analysis Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Power System Analysis Software Market value chain can benefit from the information contained in a comprehensive market report.