Dublin, March 06, 2025 (GLOBE NEWSWIRE) — The “Power Electronics Software Market by Design Software, Simulation Software, Analysis Software, Control Software, Rapid Control Prototyping, Embedded System Prototyping, Model-Based Design, Automotive and Renewable Energy – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
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.
Rapid control prototyping technology 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.
Automotive segment 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 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.
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.
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).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 253 |
| Forecast Period | 2025-2030 |
| Estimated Market Value (USD) in 2025 | $3.33 Billion |
| Forecasted Market Value (USD) by 2030 | $5.25 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Increasing Adoption of Renewable Energy Sources
- Growing Shift Towards Electric Vehicles
- Advancements in Semiconductor Technologies
- Restraints
- High Initial Cost of Power Electronics Software
- Complexity and Threat of Data Leakage
- Opportunities
- Growth of Industrial Automation and Robotics
- Global Expansion of Smart Homes and Buildings
- Challenges
- Issues with Integration and Compatibility
- Lack of Skilled Professionals
Case Study Analysis
- Ansys-Powered Simulation Optimized Innovative Battery Storage System for Wartsila
- Anywaves Achieved Rapid Antenna Innovation with Simulia CST Studio
- Advancing DC Distribution with Multiphysics Simulation at Supergrid Institute
Additional Insights Covered
- Trends/Disruptions Impacting Customer Business
- Pricing Analysis
- Value Chain Analysis
- Ecosystem Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Key Conferences and Events, 2025-2026
- Investment and Funding Scenario
- Regulatory Landscape
- Key Stakeholders and Buying Criteria
- Impact of AI/Gen AI on Power Electronics Software Market
Companies Profiled
- The Mathworks, Inc.
- Keysight Technologies
- Altair Engineering Inc.
- Cadence Design Systems, Inc.
- Synopsys, Inc.
- National Instruments Corp.
- Renesas Electronics Corporation
- Infineon Technologies AG
- Dspace GmbH
- Siemens
- Analog Devices, Inc.
- Sidelinesoft, LLC
- Aesim.Tech
- Plexim GmbH
- Manitoba Hydro International Ltd.
- Imperix Power Electronics
- Typhoon Hil, Inc.
- Mirabilis Design Inc.
- Power Smart Control
- Comsol
- Speedgoat GmbH
- Opal-RT Technologies, Inc.
- RTDS Technologies Inc.
- Powersys
- AVL
For more information about this report visit https://www.researchandmarkets.com/r/1tmnwg
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- Power Electronics Software Market
