The global power system simulators market size is likely to be valued at US$ 1.2 billion in 2023. The increasing expansion of the power electronic sector is driving the market growth. The market is estimated to garner US$ 2.1 billion in 2033, recording a CAGR of 6.0% from 2023 to 2033.

The demand for power system simulators increases due to the increasing expansion of power generation capabilities and rapid growth of the power sector, which are the main factor likely to drive the growth of the power system simulator market during the forecast period. Increasing demand for the Internet of Things also propels the market for power system simulators.

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