Synchrophasors Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

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.

Synchrophasors Market Report Analysis

Synchrophasors Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• 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

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Component

• Hardware
• Software

By Application

• Fault Analysis
• State Estimation
• Stability Monitoring
• Power System Control
• Operational Monitoring
• Improve Grid Visualization

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.

Synchrophasors Market Report Scope