Power Electronics Software Market Size & Share Forecast Report 2030

The global Power Electronics Software Market was valued at USD 3.08 billion in 2024 and is projected to grow from USD 3.33 billion in 2025 to USD 5.25 billion by 2030, at a CAGR of 9.5% during the forecast period. This robust growth trajectory is fueled by increasing adoption of renewable energy sources, the rapid expansion of the electric vehicles (EVs) sector, and significant advancements in semiconductor technologies such as silicon carbide (SiC) and gallium nitride (GaN). The market is also driven by the demand for optimizing energy efficiency, enhancing thermal management, and ensuring compliance with evolving regulations across multiple industries, including automotive, renewable energy, industrial, and aerospace & defense.

Key Takeaways:

• The global Power Electronics Software Market was valued at USD 3.08 billion in 2024 and is projected to grow from USD 3.33 billion in 2025 to USD 5.25 billion by 2030, at a CAGR of 9.5% during the forecast period.

• By Technology: Model-based design technology is expected to capture the largest market share, driven by the increasing complexity of power systems and the need for shorter development cycles and enhanced design accuracy.

• By Application: The automotive sector is witnessing rapid growth due to the electrification of vehicles and advancements in autonomous driving technologies. Additionally, the renewable energy sector is expanding as it seeks to maximize energy conversion efficiency and ensure grid compliance.

• By Type: Design software is anticipated to dominate the market due to the rising demand for compact and energy-efficient systems across various applications.

• By Region: ASIA PACIFIC is expected to grow fastest at 11.0% CAGR, propelled by the adoption of advanced technologies in the automotive and electronics industries, alongside increasing demands for energy efficiency and automation.

• Market Dynamics: Key drivers include the increasing adoption of renewable energy sources and the growing shift towards electric vehicles. Challenges include high initial costs of power electronics software and the complexity of integration and compatibility.

• Innovation and Competition: The integration of AI and digital twin technologies is revolutionizing the market, enhancing operational efficiencies, and enabling predictive maintenance, which reduces downtime and enhances system reliability.

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In conclusion, the Power Electronics Software Market is poised for significant growth, offering extensive opportunities for industry stakeholders. The expanding role of AI, IoT, and edge computing in transforming power electronics systems is anticipated to further drive innovation and market development. As industries continue to prioritize energy efficiency and sustainability, the demand for sophisticated power electronics software solutions will likely accelerate, shaping the future landscape of this dynamic market.