North America Power Electronics Software Market Size, Share & Industry Analysis Report by Technology, Application, Type, Country and Growth Forecast, 2025-2032

The North America Power Electronics Software Market is expected to witness market growth of 9.3% CAGR during the forecast period (2025-2032).

The US market dominated the North America Power Electronics Software Market by country in 2024, and is expected to continue to be a dominant market till 2032; thereby, achieving a market value of USD 1.40 billion by 2032. The Canada market is experiencing a CAGR of 11.7% during 2025-2032. Additionally, the Mexico market is expected to exhibit a CAGR of 10.7% during 2025-2032. The US and Canada led the North America Power Electronics Software Market by Country with a market share of 75.2% and 12.3% in 2024.



The North American power electronics software ecosystem has come a long way in a short amount of time thanks to strong cooperation between federal programs, OEM-led innovation, and efforts to modernize the grid. The U.S. Department of Energy's Power Electronics Industry Collaborative (PEIC) and PowerAmerica have helped OEMs, suppliers, and research labs work together by making technology roadmaps and lowering the costs of wide bandgap (WBG) devices like SiC and GaN. These projects are all about system integration, packaging, and getting the workforce ready. They fix problems with supply chain fragmentation and make things more reliable. Institutions like NREL are working on simulation tools, EMT/HIL frameworks, and planning algorithms to make sure that high-penetration power electronics environments are stable on the grid side.

Government frameworks and research institutions are pushing for software innovation that is made for advanced WBG devices while also dealing with problems with cost, thermal management, and the lifecycle. OEMs can use programs like AMMTO's WBG strategic roadmap and PowerAmerica to add SiC and GaN devices to real-world systems in a way that makes them work better and last longer. As grid modernization moves forward, there is a growing need for simulation platforms that can help with system design, control validation, and operational planning in changing situations. NREL and other organizations are improving virtual testing tools to simulate performance at scale. This makes system modeling safer and more accurate before deployment.

Technology Outlook

Based on Technology, the market is segmented into Model-Based Design (MBD), Rapid Control Prototyping (RCP), Hardware-In-The-Loop (HIL) Simulation, Embedded System Prototyping, and Other Technology. Among various Canada Power Electronics Software Market by Technology; The Model-Based Design (MBD) market achieved a market size of USD 39.7 Million in 2024 and is expected to grow at a CAGR of 10.1% during the forecast period. The Embedded System Prototyping market is predicted to experience a CAGR of 12.6% throughout the forecast period from (2025-2032).

Type Outlook

Based on Type, the market is segmented into Simulation Software, Design Software, Control Software, and Analysis Software. The Simulation Software market segment dominated the US Power Electronics Software Market by Type is expected to grow at a CAGR of 7.1% during the forecast period thereby continuing its dominance until 2032. Also, The Analysis Software market is anticipated to grow as a CAGR of 10.3% during the forecast period during 2025-2032.

Country Outlook

The U.S. power electronics software market is growing quickly because of the growth of digital infrastructure, the electrification of transportation, and the modernization of the grid. The rise in electric vehicle use increases the need for software that works with inverters, chargers, and energy management systems. At the same time, federal programs to expand charging networks highlight the need for smart grid integration tools. Utilities are using more advanced modeling, simulation, and digital twin platforms to run grids that are mostly made up of converters and renewable energy sources in a way that makes them more resilient and efficient. At the same time, data centers and AI workloads put even more strain on power systems, so optimization software is necessary for reliability and scalability. Global companies that offer end-to-end solutions, such as model-based design and hardware-in-the-loop testing, are leading the way in the race for next-generation power devices.

List of Key Companies Profiled

• The MathWorks, Inc.
• Keysight Technologies, Inc.
• Cadence Design Systems, Inc.
• Synopsys, Inc.
• Altair Engineering Inc.
• Infineon Technologies AG
• Texas Instruments, Inc.
• ABB Ltd.
• ON Semiconductor Corporation
• Renesas Electronics Corporation

Market Report Segmentation

By Technology

• Model-Based Design (MBD)
• Rapid Control Prototyping (RCP)
• Hardware-In-The-Loop (HIL) Simulation
• Embedded System Prototyping
• Other Technology

By Application

• Industrial
• Automotive
• Renewable Energy
• Consumer Electronics
• Aerospace & Defense
• Other Application

By Type

• Simulation Software
• Design Software
• Control Software
• Analysis Software

By Country

• US
• Canada
• Mexico
• Rest of North America