Synchrophasors Market Insights and Growth by 2031
Synchrophasors are also known as a phasor measurement unit, it is the device that is basically used to calculate the phase angle and magnitude of an electrical phasor quantity in the electricity grid by using a common time source for synchronization. Rising expenditures in the improvement of the energy grid to enhance the worldwide need are driving the growth of the synchrophasors market. Further, improvements in communication technologies coupled with the increase in the demand for efficient monitoring and system awareness of the different power grids are also triggering the synchrophasors market growth.
MARKET DYNAMICS
Growing demand for technologies that ensure stability, long-term efficiency, and performance of power grids are fueling the demand for the synchrophasors market growth. Moreover, various benefits of synchrophasors to conventional measurement alternatives along with the rise in demand for synchrophasor to improve grid reliability and grid automation are expected to fuel synchrophasors market growth during the forecast period.
MARKET SCOPE
The "Global Synchrophasors Market Analysis to 2031" is a specialized and in-depth study of the synchrophasors industry with a special focus on the global market trend analysis. The report aims to provide an overview synchrophasors market with detailed market segmentation as component, application, and geography. The global synchrophasors market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading synchrophasors market players and offers key trends and opportunities in the synchrophasors market.
MARKET SEGMENTATION
The global synchrophasors market is segmented on the basis of component, application. On the basis of component the market is segmented as hardware, software. On the basis of application the market is segmented as fault analysis, state estimation, stability monitoring, power system control, operational monitoring, improve grid visualization, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global synchrophasors market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The synchrophasors market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting synchrophasors market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the synchrophasors market in these regions.
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global synchrophasors market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The synchrophasors market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting synchrophasors market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the synchrophasors market in these regions.
MARKET PLAYERS
The reports cover key developments in the synchrophasors market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Synchrophasors market are anticipated to lucrative growth opportunities in the future with the rising demand for synchrophasors in the global market. Below mentioned is the list of few companies engaged in the synchrophasors market.
The report also includes the profiles of key synchrophasors companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ABB
- Arbiter Systems Inc.
- Electric Power Group LLC
- General Electric
- NR Electric Co. Ltd.
- Qualitrol Company LLC
- Schneider Electric
- Schweitzer Engineering Laboratories, Inc.
- Siemens AG
- Vizimax Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Synchrophasors Market - By Component
1.3.2Synchrophasors Market - By Application
1.3.3Synchrophasors Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.SYNCHROPHASORS MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.SYNCHROPHASORS MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.SYNCHROPHASORS MARKET - GLOBAL MARKET ANALYSIS
6.1.SYNCHROPHASORS - GLOBAL MARKET OVERVIEW
6.2.SYNCHROPHASORS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.SYNCHROPHASORS MARKET - REVENUE AND FORECASTS TO 2028 â" COMPONENT
7.1.OVERVIEW
7.2.COMPONENT MARKET FORECASTS AND ANALYSIS
7.3.HARDWARE
7.3.1.Overview
7.3.2.Hardware Market Forecast and Analysis
7.4.SOFTWARE
7.4.1.Overview
7.4.2.Software Market Forecast and Analysis
8.SYNCHROPHASORS MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.FAULT ANALYSIS
8.3.1.Overview
8.3.2.Fault Analysis Market Forecast and Analysis
8.4.STATE ESTIMATION
8.4.1.Overview
8.4.2.State Estimation Market Forecast and Analysis
8.5.STABILITY MONITORING
8.5.1.Overview
8.5.2.Stability Monitoring Market Forecast and Analysis
8.6.POWER SYSTEM CONTROL
8.6.1.Overview
8.6.2.Power System Control Market Forecast and Analysis
8.7.OPERATIONAL MONITORING
8.7.1.Overview
8.7.2.Operational Monitoring Market Forecast and Analysis
8.8.IMPROVE GRID VISUALIZATION
8.8.1.Overview
8.8.2.Improve Grid Visualization Market Forecast and Analysis
8.9.OTHERS
8.9.1.Overview
8.9.2.Others Market Forecast and Analysis
9.SYNCHROPHASORS MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Synchrophasors Market Overview
9.1.2North America Synchrophasors Market Forecasts and Analysis
9.1.3North America Synchrophasors Market Forecasts and Analysis - By Component
9.1.4North America Synchrophasors Market Forecasts and Analysis - By Application
9.1.5North America Synchrophasors Market Forecasts and Analysis - By Countries
9.1.5.1United States Synchrophasors Market
9.1.5.1.1United States Synchrophasors Market by Component
9.1.5.1.2United States Synchrophasors Market by Application
9.1.5.2Canada Synchrophasors Market
9.1.5.2.1Canada Synchrophasors Market by Component
9.1.5.2.2Canada Synchrophasors Market by Application
9.1.5.3Mexico Synchrophasors Market
9.1.5.3.1Mexico Synchrophasors Market by Component
9.1.5.3.2Mexico Synchrophasors Market by Application
9.2.EUROPE
9.2.1Europe Synchrophasors Market Overview
9.2.2Europe Synchrophasors Market Forecasts and Analysis
9.2.3Europe Synchrophasors Market Forecasts and Analysis - By Component
9.2.4Europe Synchrophasors Market Forecasts and Analysis - By Application
9.2.5Europe Synchrophasors Market Forecasts and Analysis - By Countries
9.2.5.1Germany Synchrophasors Market
9.2.5.1.1Germany Synchrophasors Market by Component
9.2.5.1.2Germany Synchrophasors Market by Application
9.2.5.2France Synchrophasors Market
9.2.5.2.1France Synchrophasors Market by Component
9.2.5.2.2France Synchrophasors Market by Application
9.2.5.3Italy Synchrophasors Market
9.2.5.3.1Italy Synchrophasors Market by Component
9.2.5.3.2Italy Synchrophasors Market by Application
9.2.5.4United Kingdom Synchrophasors Market
9.2.5.4.1United Kingdom Synchrophasors Market by Component
9.2.5.4.2United Kingdom Synchrophasors Market by Application
9.2.5.5Russia Synchrophasors Market
9.2.5.5.1Russia Synchrophasors Market by Component
9.2.5.5.2Russia Synchrophasors Market by Application
9.2.5.6Rest of Europe Synchrophasors Market
9.2.5.6.1Rest of Europe Synchrophasors Market by Component
9.2.5.6.2Rest of Europe Synchrophasors Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Synchrophasors Market Overview
9.3.2Asia-Pacific Synchrophasors Market Forecasts and Analysis
9.3.3Asia-Pacific Synchrophasors Market Forecasts and Analysis - By Component
9.3.4Asia-Pacific Synchrophasors Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Synchrophasors Market Forecasts and Analysis - By Countries
9.3.5.1Australia Synchrophasors Market
9.3.5.1.1Australia Synchrophasors Market by Component
9.3.5.1.2Australia Synchrophasors Market by Application
9.3.5.2China Synchrophasors Market
9.3.5.2.1China Synchrophasors Market by Component
9.3.5.2.2China Synchrophasors Market by Application
9.3.5.3India Synchrophasors Market
9.3.5.3.1India Synchrophasors Market by Component
9.3.5.3.2India Synchrophasors Market by Application
9.3.5.4Japan Synchrophasors Market
9.3.5.4.1Japan Synchrophasors Market by Component
9.3.5.4.2Japan Synchrophasors Market by Application
9.3.5.5South Korea Synchrophasors Market
9.3.5.5.1South Korea Synchrophasors Market by Component
9.3.5.5.2South Korea Synchrophasors Market by Application
9.3.5.6Rest of Asia-Pacific Synchrophasors Market
9.3.5.6.1Rest of Asia-Pacific Synchrophasors Market by Component
9.3.5.6.2Rest of Asia-Pacific Synchrophasors Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Synchrophasors Market Overview
9.4.2Middle East and Africa Synchrophasors Market Forecasts and Analysis
9.4.3Middle East and Africa Synchrophasors Market Forecasts and Analysis - By Component
9.4.4Middle East and Africa Synchrophasors Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Synchrophasors Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Synchrophasors Market
9.4.5.1.1South Africa Synchrophasors Market by Component
9.4.5.1.2South Africa Synchrophasors Market by Application
9.4.5.2Saudi Arabia Synchrophasors Market
9.4.5.2.1Saudi Arabia Synchrophasors Market by Component
9.4.5.2.2Saudi Arabia Synchrophasors Market by Application
9.4.5.3U.A.E Synchrophasors Market
9.4.5.3.1U.A.E Synchrophasors Market by Component
9.4.5.3.2U.A.E Synchrophasors Market by Application
9.4.5.4Rest of Middle East and Africa Synchrophasors Market
9.4.5.4.1Rest of Middle East and Africa Synchrophasors Market by Component
9.4.5.4.2Rest of Middle East and Africa Synchrophasors Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Synchrophasors Market Overview
9.5.2South and Central America Synchrophasors Market Forecasts and Analysis
9.5.3South and Central America Synchrophasors Market Forecasts and Analysis - By Component
9.5.4South and Central America Synchrophasors Market Forecasts and Analysis - By Application
9.5.5South and Central America Synchrophasors Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Synchrophasors Market
9.5.5.1.1Brazil Synchrophasors Market by Component
9.5.5.1.2Brazil Synchrophasors Market by Application
9.5.5.2Argentina Synchrophasors Market
9.5.5.2.1Argentina Synchrophasors Market by Component
9.5.5.2.2Argentina Synchrophasors Market by Application
9.5.5.3Rest of South and Central America Synchrophasors Market
9.5.5.3.1Rest of South and Central America Synchrophasors Market by Component
9.5.5.3.2Rest of South and Central America Synchrophasors Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.SYNCHROPHASORS MARKET, KEY COMPANY PROFILES
11.1.ABB
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.ARBITER SYSTEMS INC.
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.ELECTRIC POWER GROUP LLC
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.GENERAL ELECTRIC
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.NR ELECTRIC CO. LTD.
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.QUALITROL COMPANY LLC
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.SCHNEIDER ELECTRIC
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.SCHWEITZER ENGINEERING LABORATORIES, INC.
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SIEMENS AG
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.VIZIMAX INC.
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. ABB
2. Arbiter Systems Inc.
3. Electric Power Group LLC
4. General Electric
5. NR Electric Co. Ltd.
6. Qualitrol Company LLC
7. Schneider Electric
8. Schweitzer Engineering Laboratories, Inc.
9. Siemens AG
10. Vizimax Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For