PSpice is a software tool used for simulating and analyzing electronic circuits. It allows engineers and designers to create circuit diagrams and test their performance without physically building the circuits. This helps in identifying potential issues and optimizing designs before implementation. The software supports various components, including resistors, capacitors, and transistors, enabling users to model complex systems. PSpice is widely used in both academic and professional settings, making it a valuable resource for anyone involved in electronics and electrical engineering.