Power Electronics Software Market Size:
Power Electronics Software Market size is estimated to reach over USD 5.83 Billion by 2032 from a value of USD 3.01 Billion in 2024 and is projected to grow by USD 3.23 Billion in 2025, growing at a CAGR of 9.6% from 2025 to 2032.
Power Electronics Software Market Scope & Overview:
Power electronics software or power electronics simulation software refers to a solution which is used to design, analyze, and optimize power electronic systems namely semiconductors, inverters, and converters. The software helps in ensuring stability, improving power quality, and handling fault conditions. Moreover, the rising adoption of the software to analyze interaction of digital control algorithms and power semiconductors is driving the market. Additionally, the software has witnessed a growing adoption to design, simulate, and compare controller architectures which has driven the market.
Power Electronics Software Market Dynamics - (DRO) :
Key Drivers:
Increasing Utilization of Power Electronics Simulation Software to Develop Electrified Powertrain is Propelling the Power Electronics Software Market Growth
Power electronics simulation software has experienced a rising adoption for battery simulations in automotive battery management system. Further, the software has witnessed a rising utilization for electromagnetic simulation to predict electromagnetic interference emissions in the battery design process. Additionally, rising sales of electric vehicles are driving the market as the software is utilized in battery cell modeling in electric cars.
- For instance, according to the IEA, electric car sales reached more than 17 million around the world in 2024. The rising electric vehicle sale is expected to boost the market as power electronics simulation software is used for battery system simulation in the vehicles.
Hence, the increasing utilization of power electronics simulation software for simulation of electric vehicle battery system is driving the power electronics software market size.
Key Restraints:
Complexity of Implementing Power Electronics Simulation Software and Hardware is Restraining the Power Electronics Software Market Growth
Power electronics simulation software are used for various applications including power converter designing and automotive battery designing which may require complex control algorithms. Moreover, power electronics hardware can introduce harmonic currents and voltages in the power system acting as a restraint to the market growth.
Thus, complexity of implementing power electronics simulation software and hardware act as a restraint to the power electronics software market expansion.
Future Opportunities :
Rising Adoption of Artificial Intelligence (AI) in Power Electronics Software is Expected to Drive the Power Electronics Software Market Opportunities
Power electronics simulation software has experienced a rising integration of AI based reduced order models. Additionally, the models allow the user to create, train, and test AI based virtual sensors for batteries and converters which is driving the market. Moreover, companies have started offering energy forecasting and predictive maintenance in the software which is driving the market.
- For instance, Mathworks offers MATLAB and Simulink that integrates predictive maintenance to monitor the estimate the remainder of useful life of assets. The rise in the number of offerings by companies that integrate AI is expected to boost the market.
Thus, the rising adoption of power electronics simulation software that integrates AI based reduced order models and predictive maintenance is expected to drive the power electronics software market opportunities during the forecast period.
Power Electronics Software Market Segmental Analysis :
By Solution:
Based on the solution, the market is segmented into design software, simulation software, analysis software, and control software.
Trends in the solution:
- Increasing adoption of simulation software to run simulations of circuit models is driving the power electronics software market share.
- Rising utilization design software for stiff power electronics circuits is driving the power electronics software market trends.
Simulation software accounted for the largest revenue share of 34.21% in the year 2024
- Simulation software has experienced a rising adoption due to inclusion of thermal losses and parasitic effects, which has resulted in the power electronics software market expansion.
- Additionally, there has been a rising adoption of simulation software to create circuit models and run accurate simulation which is driving the global power electronics software market.
- Moreover, the increasing utilization of the software for multi-level and multi-physics modeling is driving the market.
- For instance, Ansys offers simulation software for power electronics systems that creates a reduced order model which decreases the simulation time by orders of magnitude. The rise in the number of simulation software offerings for circuit simulation is expected to boost the market.
- According to the market analysis, the rising advancements related to simulation software due to simulation of thermal losses is driving the power electronics software market trends.
Design software is anticipated to register the fastest CAGR during the forecast period.
- Design software has experienced a rising adoption to capture critical design effects and mechatronic interactions.
- Moreover, the rising utilization of the software that features signal net tuning and differential pair routing mode is boosting the market.
- For instance, Labcenter Electronics offers Proteus PCB software that feature 15 million library parts. The rise in adoption of design software that features constraint driven design is expected to boost the market.
- Thus, the increasing adoption of design software that features signal net tuning and differential pair routing is driving the market demand.
By End User:
Based on the end user, the market is segmented into industrial, automotive, aerospace, electronics, renewable energy, and others.
Trends in the end user:
- Increasing adoption of the software to provide electrification simulation in automotive is driving the market trends.
- Rising adoption of power electronics software in renewable energy to simulate inverters is driving the market growth.
Automotive accounted for the largest revenue share in the year 2024.
- Power electronics simulation software has experienced a rising adoption to test circuit schematics used in electric vehicles which has driven the global power electronics software market.
- Further, rising trend in the utilization of the software for power converter sizing and design is driving the power electronics software market demand.
- Moreover, the increasing adoption of the software to generate motor drive efficiency maps is driving the market.
- For instance, Altair offers Altair PSIM for the automotive industry to speed up the motor drive design process. The rise in the number of software offerings for motor drive design is expected to boost the market.
- Therefore, the increasing demand for power electronics simulation software in automotive to generate motor drive efficiency maps is driving the power electronics software market size.
Renewable energy is anticipated to register the fastest CAGR during the forecast period.
- Power electronics software has experienced a rising adoption in renewable energy for visualizing sizing constraints including I/V curves and power distribution which has driven the market.
- Moreover, the rising trend in the adoption of the software to design photovoltaic systems is driving the growth of the market.
- Additionally, the software has experienced a rising utilization for modeling renewable energy sources namely wind turbines and PV arrays which has driven the market.
- According to the power electronics software market analysis, the rising trend in the adoption of power electronics simulation software in renewable energy to model renewable energy sources and design photovoltaic systems is propelling the power electronics software industry during the forecast period.
Regional Analysis:
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at 1.00 Billion in 2024. Moreover, it is projected to grow by 1.07 Billion in 2025 and reach over 1.98 Billion by 2032. Out of this, China accounted for the maximum revenue share of 32.81%. As per the power electronics software market analysis, the growth in the Asia-Pacific region is primarily driven by the increasing utilization of simulation software and rise in the automotive sector.
- For instance, according to SIAM, the passenger vehicle sales in India stood at about 43 million in 2024-25 rising from 42.1 million in 2023-24. The rise in the sales of passenger vehicles is expected to boost the market as the software is utilized in vehicles for designing battery management systems.
North America is estimated to reach over USD 1.68 Billion by 2032 from a value of USD 0.87 Billion in 2024 and is projected to grow by USD 0.93 Billion in 2025. In North America, the growth of power electronics software industry is driven by the increasing adoption of design and analysis software. Moreover, the increasing utilization of the transmitters for simulating microgrid and smart grid network architecture has resulted in the rise of power electronics software market share.
- For instance, MathWorks offers Matlab and Simulink for modeling and simulating network architecture. The rise in the adoption of the software to study the impact of variable power sources and loads on distribution networks is expected to boost the power electronics soft.
Additionally, the regional analysis depicts that the rising investments in the electronics sector is driving the power electronics software market demand in Europe. Furthermore, as per the market analysis, the market demand in Latin America is expected to grow at a considerable rate due to rising adoption of the software in industrial sector. Middle East and African region is expected to grow at a considerable rate due to factors such as growing investments in the automotive sector and rising aerospace sector among others.
Top Key Players and Market Share Insights:
The global power electronics software market is highly competitive with major players providing solutions to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the power electronics software market. Key players in the power electronics software industry include-
- ANSYS, Inc (U.S.)
- Siemens (Germany)
- Altair Engineering Inc. (U.S.)
- The MathWorks, Inc. (U.S.)
- Keysight Technologies (U.S.)
- Synopsys, Inc. (U.S.)
- National Instruments Corp. (U.S.)
- Infineon Technologies AG (Germany)
- dSPACE GmbH (Germany)
- Plexim GmbH (Switzerland)
Recent Industry Developments :
Product Launch:
- In February 2025, Dspace introduced XSG Power Electronics Software Systems, a software designed for simulating dynamic switching frequencies up to 500 kHz. The XSG Power Electronics Software Systems is useful for developing and testing power electronics security in e-mobility, aviation, aerospace and railway sectors.
Acquisition:
- In October 2024, Altair, a provider of power electronics simulation software announced that the company entered into an agreement to be acquired by Siemens. The shareholders of Altair will receive USD 113 per share in cash, valuing the entire equity at about USD 10.6 billion.
Power Electronics Software Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 5.83 Billion |
| CAGR (2025-2032) | 9.6% |
| By Solution |
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| By End User |
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| By Region |
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| Key Players |
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| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage |
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Key Questions Answered in the Report
How big is the power electronics software market? +
The power electronics software market was valued at USD 3.01 Billion in 2024 and is projected to grow to USD 5.83 Billion by 2032.
Which is the fastest-growing region in the power electronics software market? +
Asia-Pacific region is experiencing the most rapid growth in the power electronics software market.
What specific segmentation details are covered in the power electronics software market report? +
The power electronics software market report includes solution, end user and region.
Who are the major players in the power electronics software market? +
The key participants in the power electronics software market are ANSYS, Inc (U.S.), Siemens (Germany), Altair Engineering Inc. (U.S.), The MathWorks, Inc. (U.S.), Keysight Technologies (U.S.), Synopsys, Inc. (U.S.), National Instruments Corp. (U.S.), Infineon Technologies AG (Germany), dSPACE GmbH (Germany), Plexim GmbH (Switzerland), and Others.
