Power Electronics Software Market Size, Share & Trends Analysis Report By Technology, By Type (Control Software, Design Software, Analysis Software, Simulation Software), By Application, By Region, And Segment Forecasts, 2025 - 2033
The global power electronics software market size was estimated at USD 3.56 billion in 2024 and is projected to reach USD 8.27 billion by 2033, growing at a CAGR of 9.8% from 2025 to 2033. This growth is driven by the growing demand for efficient power management in electric vehicles, renewable energy systems, and industrial automation, supported by advancements in simulation, control, and embedded design tools.
The increasing complexity and integration of power electronic systems across diverse industries shape the current landscape of the power electronics software market. Increasing demands for accurate design, simulation, and validation tools drive the adoption of advanced software platforms that allow engineers to optimize efficiency, reliability, and performance. The rise of embedded control systems, along with the need for hardware-in-the-loop testing and real-time simulation, fosters widespread use of these software solutions in sectors such as automotive, industrial automation, aerospace, and renewable energy.
In addition, the accelerating transition toward electrification and sustainable energy solutions promotes market growth. The expansion of electric vehicles and renewable energy infrastructures requires software capable of managing complex power management, battery optimization, and converter control. Stringent regulatory standards on energy efficiency and emissions compel manufacturers to deploy more advanced power electronics systems, which depend heavily on comprehensive software tools for compliance and performance enhancement.
Furthermore, integrating AI, ML, and cloud computing into power electronics software fuels the market growth. These technologies enable predictive analytics, improved fault detection, and collaborative development environments that enhance design accuracy and operational resilience. The convergence of software with hardware testing platforms allows for seamless real-time validation and troubleshooting, addressing the growing complexity of modern power electronic devices. As industries emphasize automation, sustainability, and digital transformation, the demand for versatile, scalable, and intelligent software solutions is projected to drive the growth of the power electronics software industry.
Technology Insights
The Model-Based Designs (MBD) segment accounted for the largest revenue share of over 35% in 2024, driven by enabling operators to create detailed virtual representations of complex telecom networks and analytics workflows. This capability allows for precise simulation and network performance testing under diverse scenarios, reducing development cycles and operational risks. By providing a unified design, validation, and optimization platform, MBD supports proactive network management and enhances decision-making processes, which are essential in handling the increasing data volumes and dynamic traffic patterns characteristic of modern telecom environments.
The Hardware-In-The-Loop (HIL) simulation segment is expected to grow at the fastest CAGR during the forecast period, as telecom providers seek to bridge the gap between software analytics and physical network components. HIL enables real-time testing of analytics algorithms within environments that mimic actual hardware behavior, ensuring reliable performance of solutions when deployed. This method is particularly beneficial for verifying new technologies like 5G and edge computing, where seamless integration between hardware and software is vital. The capability to conduct iterative testing and refinement speeds up innovation while reducing costly errors in live networks.
Global Power Electronics Software Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global power electronics software market report based on technology, type, application, and region:
Technology Outlook (Revenue, USD Million, 2021 - 2033)
Rapid Control Prototyping (RCP)
Embedded System Prototyping
Model-Based Design (MBD)
Hardware-In-The-Loop (HIL) Simulation
Others
Type Outlook (Revenue, USD Million, 2021 - 2033)
Control Software
Design Software
Analysis Software
Simulation Software
Application Outlook (Revenue, USD Million, 2021 - 2033)
Industrial
Consumer Electronics
Automotive
Renewable Energy
Aerospace & Defense
Others
Regional Outlook (Revenue, USD Million, 2021 - 2033)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Asia Pacific
China
Japan
India
South Korea
Australia
Latin America
Brazil
Middle East and Africa (MEA)
UAE
KSA
South Africa
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Power Electronics Software Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Industry Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market Drivers Analysis
3.4.2. Market Restraints Analysis
3.4.3. Industry Opportunities
3.4.4. Industry Challenges
3.5. Power Electronics Software Market Analysis Tools
3.5.1. Porter's Analysis
3.5.1.1. Bargaining power of the suppliers
3.5.1.2. Bargaining power of the buyers
3.5.1.3. Threats of substitution
3.5.1.4. Threats from new entrants
3.5.1.5. Competitive rivalry
3.5.2. PESTEL Analysis
3.5.2.1. Political landscape
3.5.2.2. Economic and Social landscape
3.5.2.3. Technological landscape
3.5.2.4. Environmental landscape
3.5.2.5. Legal landscape
Chapter 4. Power Electronics Software Market: Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Power Electronics Software Market: Type Movement Analysis, 2024 & 2033 (USD Million)
4.3. Control Software
4.3.1. Control Software Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)