Power Electronics Software Market Size, Share, Trends, & Industry Analysis By Technology (RCP, Embedded System Prototyping, MBD, HIL Simulation, and Other Technologies), By Type, By Application, and By Region

Description

List of Tables

The power electronics software market size is expected to reach USD 6.84 Billion by 2034, according to a new study by Polaris Market Research. The report "Power Electronics Software Market Size, Share, Trends, & Industry Analysis By Technology (RCP, Embedded System Prototyping, MBD, HIL Simulation, and Other Technologies), By Type, By Application, and By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global market for power electronics software is witnessing strong momentum, driven by rising demand for faster design validation, efficient energy conversion, and high-precision control systems across electric vehicles, renewable energy, and industrial automation. Engineers and manufacturers are increasingly adopting these software tools to simulate complex power circuits, test system performance in real-time, and reduce development timelines.

Rising investments in smart grid infrastructure and digital factories, continues to expand the application of power electronics software. Advanced software is becoming central to innovation across modern energy and mobility ecosystems, supporting applications such as inverter design for solar farms and the optimization of battery management systems in electric vehicles.

Power Electronics Software Market Report Highlights

Based on type, the design software segment led the power electronics software market in 2024, owing to its extensive use for developing precise schematics, PCB layouts, and control architectures in power electronic systems.

In terms of application, the renewable energy segment is projected to be the fastest-growing, driven by the rapid expansion of solar PV and wind installations and global decarbonization efforts, which boost demand for power electronics software to optimize converters and grid-tied inverters.

North America dominated the power electronics software market revenue in 2024, propelled by widespread adoption of renewable energy technologies and advanced design infrastructure throughout the region.

The Asia Pacific market is expected to experience the fastest growth, attributed to the expanding semiconductor manufacturing industry and supportive policy environment for electrification.

A few global key market players include AESIM.tech, Altair Engineering Inc., Analog Devices, Inc., Cadence Design Systems, Inc., dSPACE GmbH, Infineon Technologies AG, Keysight Technologies, Manitoba Hydro International Ltd., MathWorks, Inc., National Instruments Corp., Plexim GmbH, Renesas Electronics Corporation, Sidelinesoft, LLC, Siemens, and Synopsys, Inc.

Polaris Market Research has segmented the market report on the basis of technology, type, application, and region:

By Technology Outlook (Revenue, USD Billion, 2020-2034)

Rapid Control Prototyping (RCP)

Embedded System Prototyping

Model-Based Design (MBD)

Hardware-In-The-Loop (HIL) Simulation

Other Technologies

By Type Outlook (Revenue, USD Billion, 2020-2034)

Design Software

Simulation Software

Analysis Software

Control Software

By Application Outlook (Revenue, USD Billion, 2020-2034)

Automotive

Consumer Electronics

Industrial

Renewable Energy

Aerospace & Defense

Other Applications

By Regional Outlook (Revenue, USD Billion, 2020-2034)

North America

Canada

Europe

Germany

France

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America

Product Code: PM5906

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Power Electronics Software Market Insights

4.1. Power Electronics Software Market - Market Snapshot
4.2. Power Electronics Software Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Integration of AI and Machine Learning Enhancing Predictive Modeling and Design Optimization
  - 4.2.1.2. Rising Adoption of Electric Vehicles Fueling Demand for Advanced Simulation Tools
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High initial investment
  - 4.2.2.2. Cybersecurity concerns
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Power Electronics Software Market Trends
4.6. Value Chain Analysis

5. Global Power Electronics Software Market, by Technology

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
5.3. Rapid Control Prototyping (RCP)
- 5.3.1. Global Power Electronics Software Market, by Rapid Control Prototyping (RCP), by Region, 2020-2034 (USD Billion)
5.4. Embedded System Prototyping
- 5.4.1. Global Power Electronics Software Market, by Embedded System Prototyping, by Region, 2020-2034 (USD Billion)
5.5. Model-Based Design (MBD)
- 5.5.1. Global Power Electronics Software Market, by Model-Based Design (MBD), by Region, 2020-2034 (USD Billion)
5.6. Hardware-In-The-Loop (HIL) Simulation
- 5.6.1. Global Power Electronics Software Market, by Hardware-In-The-Loop (HIL) Simulation, by Region, 2020-2034 (USD Billion)
5.7. Other Technologies
- 5.7.1. Global Power Electronics Software Market, by Other Technologies, by Region, 2020-2034 (USD Billion)

6. Global Power Electronics Software Market, by Type

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
6.3. Design Software
- 6.3.1. Global Power Electronics Software Market, by Design Software, by Region, 2020-2034 (USD Billion)
6.4. Simulation Software
- 6.4.1. Global Power Electronics Software Market, by Simulation Software, by Region, 2020-2034 (USD Billion)
6.5. Analysis Software
- 6.5.1. Global Power Electronics Software Market, by Analysis Software, by Region, 2020-2034 (USD Billion)
6.6. Control Software
- 6.6.1. Global Power Electronics Software Market, by Control Software, by Region, 2020-2034 (USD Billion)

7. Global Power Electronics Software Market, by Application

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
7.3. Automotive
- 7.3.1. Global Power Electronics Software Market, by Automotive, by Region, 2020-2034 (USD Billion)
7.4. Consumer Electronics
- 7.4.1. Global Power Electronics Software Market, by Consumer Electronics, by Region, 2020-2034 (USD Billion)
7.5. Industrial
- 7.5.1. Global Power Electronics Software Market, by Industrial, by Region, 2020-2034 (USD Billion)
7.6. Renewable Energy
- 7.6.1. Global Power Electronics Software Market, by Renewable Energy, by Region, 2020-2034 (USD Billion)
7.7. Aerospace & Defense
- 7.7.1. Global Power Electronics Software Market, by Aerospace & Defense, by Region, 2020-2034 (USD Billion)
7.8. Other Applications
- 7.8.1. Global Power Electronics Software Market, by Other Applications, by Region, 2020-2034 (USD Billion)

8. Global Power Electronics Software Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Power Electronics Software Market Assessment, By Geography, 2020-2034 (USD Billion)
8.3. Power Electronics Software Market - North America
- 8.3.1. North America: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
- 8.3.2. North America: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
- 8.3.3. North America: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.3.4. Power Electronics Software Market - U.S.
  - 8.3.4.1. U.S.: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.3.4.2. U.S.: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.3.4.3. U.S.: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.3.5. Power Electronics Software Market - Canada
  - 8.3.5.1. Canada: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.3.5.2. Canada: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.3.5.3. Canada: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
8.4. Power Electronics Software Market - Europe
- 8.4.1. Europe: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
- 8.4.2. Europe: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
- 8.4.3. Europe: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.4. Power Electronics Software Market - UK
  - 8.4.4.1. UK: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.4.2. UK: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.4.3. UK: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.5. Power Electronics Software Market - France
  - 8.4.5.1. France: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.5.2. France: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.5.3. France: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.6. Power Electronics Software Market - Germany
  - 8.4.6.1. Germany: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.6.2. Germany: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.6.3. Germany: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.7. Power Electronics Software Market - Italy
  - 8.4.7.1. Italy: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.7.2. Italy: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.7.3. Italy: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.8. Power Electronics Software Market - Spain
  - 8.4.8.1. Spain: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.8.2. Spain: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.8.3. Spain: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.9. Power Electronics Software Market - Netherlands
  - 8.4.9.1. Netherlands: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.9.2. Netherlands: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.9.3. Netherlands: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.10. Power Electronics Software Market - Russia
  - 8.4.10.1. Russia: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.10.2. Russia: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.10.3. Russia: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.4.11. Power Electronics Software Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.11.2. Rest of Europe: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.4.11.3. Rest of Europe: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
8.5. Power Electronics Software Market - Asia Pacific
- 8.5.1. Asia Pacific: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.4. Power Electronics Software Market - China
  - 8.5.4.1. China: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.4.2. China: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.4.3. China: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.5. Power Electronics Software Market - India
  - 8.5.5.1. India: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.5.2. India: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.5.3. India: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.6. Power Electronics Software Market - Malaysia
  - 8.5.6.1. Malaysia: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.6.2. Malaysia: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.6.3. Malaysia: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.7. Power Electronics Software Market - Japan
  - 8.5.7.1. Japan: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.7.2. Japan: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.7.3. Japan: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.8. Power Electronics Software Market - Indonesia
  - 8.5.8.1. Indonesia: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.8.2. Indonesia: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.8.3. Indonesia: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.9. Power Electronics Software Market - South Korea
  - 8.5.9.1. South Korea: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.9.2. South Korea: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.9.3. South Korea: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.10. Power Electronics Software Market - Australia
  - 8.5.10.1. Australia: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.10.2. Australia: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.10.3. Australia: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.5.11. Power Electronics Software Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.11.2. Rest of Asia Pacific: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.5.11.3. Rest of Asia Pacific: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
8.6. Power Electronics Software Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.6.4. Power Electronics Software Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.4.2. Saudi Arabia: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.6.4.3. Saudi Arabia: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.6.5. Power Electronics Software Market - UAE
  - 8.6.5.1. UAE: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.5.2. UAE: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.6.5.3. UAE: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.6.6. Power Electronics Software Market - Israel
  - 8.6.6.1. Israel: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.6.2. Israel: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.6.6.3. Israel: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.6.7. Power Electronics Software Market - South Africa
  - 8.6.7.1. South Africa: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.7.2. South Africa: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.6.7.3. South Africa: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.6.8. Power Electronics Software Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.8.2. Rest of Middle East & Africa: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.6.8.3. Rest of Middle East & Africa: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
8.7. Power Electronics Software Market - Latin America
- 8.7.1. Latin America: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.7.4. Power Electronics Software Market - Mexico
  - 8.7.4.1. Mexico: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.4.2. Mexico: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.7.4.3. Mexico: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.7.5. Power Electronics Software Market - Brazil
  - 8.7.5.1. Brazil: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.5.2. Brazil: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.7.5.3. Brazil: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.7.6. Power Electronics Software Market - Argentina
  - 8.7.6.1. Argentina: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.6.2. Argentina: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.7.6.3. Argentina: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)
- 8.7.7. Power Electronics Software Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Power Electronics Software Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.7.2. Rest of Latin America: Power Electronics Software Market, by Type, 2020-2034 (USD Billion)
  - 8.7.7.3. Rest of Latin America: Power Electronics Software Market, by Application, 2020-2034 (USD Billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. AESIM.tech
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Technology Benchmarking
- 10.1.4. Recent Development
10.2. Altair Engineering Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Technology Benchmarking
- 10.2.4. Recent Development
10.3. Analog Devices, Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Technology Benchmarking
- 10.3.4. Recent Development
10.4. Cadence Design Systems, Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Technology Benchmarking
- 10.4.4. Recent Development
10.5. dSPACE GmbH
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Technology Benchmarking
- 10.5.4. Recent Development
10.6. Infineon Technologies AG
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Technology Benchmarking
- 10.6.4. Recent Development
10.7. Keysight Technologies
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Technology Benchmarking
- 10.7.4. Recent Development
10.8. Manitoba Hydro International Ltd.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Technology Benchmarking
- 10.8.4. Recent Development
10.9. MathWorks, Inc.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Technology Benchmarking
- 10.9.4. Recent Development
10.10. NATIONAL INSTRUMENTS CORP.
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Technology Benchmarking
- 10.10.4. Recent Development
10.11. Plexim GmbH
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Technology Benchmarking
- 10.11.4. Recent Development
10.12. Renesas Electronics Corporation
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Technology Benchmarking
- 10.12.4. Recent Development