Power System Simulator Market Research Report - Global Forecast till 2030

Impact of COVID-19 on the Global Power System Simulator Market

During the current COVID-19 crisis, the global companies providing power system simulators are ensuring uninterrupted services for the sustainability of global infrastructure and continuous power supply to various industry verticals that are trying to cope with the situation. These verticals include healthcare, military, emergency services and utilities, goods transportation, and shipping. Furthermore, these companies are supporting the personnel providing services at data centers, retail outlets, airports, government agencies, and broadband as well as mobile network services. Power system simulators are helping businesses in running operations efficiently while also allowing employees to work remotely, thus preventing them from getting infected. Besides, with the adoption of digital technologies and automation, companies are responding more efficiently to the changing demands of customers and well as production requirements and methodologies. Additionally, vendors in the power sector are investing heavily in technologies and software solutions that are capable enough to predict and prescribe maintenance for the prevention and minimization of power outages at hospitals, medical laboratories, and military sites. Heavy investments are being made in grid resiliency and other asset management solutions to help utilities and power producers operate in an effective environment during the COVID-19 pandemic.

ELECTRICITY GENERATION, 2010-2018 (TWH)

Furthermore, new power grid simulation systems are being launched in order to train personnel in performing restoration tasks. For example, SOS Intl has developed the SOS Power Systems Operations Training Program, a web-based tool for transmission and balancing operations, which is projected to benefit over 10,000 transmission system operators in North America.

Source: Secondary Sources

Source: Primary Experts, Secondary Sources and MRFR Analysis