Middle East & Africa Power System Analysis Software Market Forecast to 2028 -Regional Analysis

The Middle East & Africa power system analysis software market is expected to grow from US$ 679.44 million in 2023 to US$ 1,105.95 million by 2028. It is estimated to grow at a CAGR of 10.2% from 2023 to 2028.

Increasing Cases of Power Outages Drive Middle East & Africa Power System Analysis Software Market

People and businesses are highly dependent on electricity for almost all operations. Therefore, there is a need for constant and uninterrupted power supply. However, there is a surge in power outages worldwide due to changing weather conditions, storms, and aging power infrastructure. For instance,

According to AP News, in September 2022, there were power outages in various parts of Oman due to electrical grid issues. According to BBC News, in February 2023, there was a power outage issue almost every day in South Africa, which hampered several businesses in the country. Power system analysis software can help to predict the outage situation due to bad weather. It quickly analyzes the location of the damaged network and the extent of the damage. It monitors the damage situation and suggests the necessary actions. It suggests resource needs, dispatches the repair crews, and communicates key damage and restoration information internally and externally.

Therefore, the rise in the cases of power outages worldwide is boosting the demand for power system analysis software to better manage power generation, transmission, and distribution, thereby contributing to the Middle East & Africa power system analysis software market growth.

Middle East & Africa Power System Analysis Software Market Overview

Based on country, the Middle East power system analysis software market is segmented into Saudi Arabia, the UAE, Oman, Kuwait, Qatar, and the rest of Middle East. The region has experienced a rapid penetration of internet connectivity over the years. Government bodies have also increased their initiatives to promote the adoption of digital technologies across all industry sectors to increase efficiency and compete in the global market. For instance, in March 2021, the Saudi Arabia government launched the Digital Government Authority (DGA) to oversee the national digital strategy. In addition, the region comprises several growing economies, such as the UAE, Saudi Arabia, Oman, Kuwait, and Qatar, which are becoming potential markets for power system analysis software providers owing to a rapid rise in industrialization. Thus, the rise in digitization, coupled with growing industrialization, will contribute to the Middle East & Africa power system analysis software market. The region is rich in oil reserves and petroleum refineries. It is projected that oil product sales will reach 8-9 million barrels per day by the end of 2023 since projects for new refineries are open in the UAE, Iraq, Oman, and Saudi Arabia. In addition, the three major oil producers in the region are Iraq, Iran, and Saudi Arabia. Oman, Qatar, Kuwait, and the UAE are the next in the regional oil league countries. Currently, there are 53 operating refineries in the region. These refineries need an uninterrupted power supply to manage the power systems efficiently. Power system analysis software can help optimize the performance and production of these refineries.

Middle East & Africa Power System Analysis Software Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Power System Analysis Software Market Segmentation

The Middle East & Africa power system analysis software market is segmented into deployment model, application, voltage type, industry vertical, and country.

Based on deployment model, the Middle East & Africa power system analysis software market is bifurcated into cloud and on-premises. In 2023, the on-premises segment registered a larger share in the Middle East & Africa power system analysis software market.

Based on application, the Middle East & Africa power system analysis software market is segmented into electric power generation, electric power distribution, and electric power transmission. In 2023, the electric power generation segment registered a largest share in the Middle East & Africa power system analysis software market.

Based on voltage type, the Middle East & Africa power system analysis software market is segmented into low voltage, medium voltage, and high voltage. In 2023, the low voltage segment registered a largest share in the Middle East & Africa power system analysis software market.

Based on industry vertical, the Middle East & Africa power system analysis software market is segmented into oil and gas, manufacturing, transportation, mining, renewables, non-renewables, and other. In 2023, the oil and gas segment registered a largest share in the Middle East & Africa power system analysis software market.

Based on country, the Middle East & Africa power system analysis software market is segmented into Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and the Rest of Middle East & Africa. In 2023, Saudi Arabia segment registered a largest share in the Middle East & Africa power system analysis software market.

ABB Ltd; DIgSILENT GmbH; General Electric Co; Neplan AG; Operation Technology Inc; RINA SpA; Schneider Electric SE; Siemens AG; and Trimble Inc are the leading companies operating in the Middle East & Africa power system analysis software market.