I am presently using Cyberlink DVD Suite [Power DVD], it takes a lot space on my hard disk.
Which should I use ?
Are you looking for commercial software?
Else consider:
VLC - VideoLAN - VLC: Official site - Free multimedia solutions for all OS!
KMPlayer - KMPMedia
It will overwrite your existing vlc installation.
It will not overwrite/remive PowerDVD. You can do that later if you are happy with VLC. However, if there is an older version of VLC already on your system, that will be removed and the newer version will be installed.
Also give a try KMPlayer. For some videos/DVDs it works smoother particularly if it is HD.