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Synchrophasor Trends and Forecast
The future of the global synchrophasor market looks promising with opportunities in the fault analysis, state estimation, stability monitoring, power system control, operational monitoring, and improve grid visualization markets. The global synchrophasor market is expected to reach an estimated $0.9 billion by 2030 with a CAGR of 17.2% from 2024 to 2030. The major drivers for this market are modernizing the power grid infrastructure, high occurrences of power failures, and rising investments in smart grid projects.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Synchrophasor by Segment
The study includes a forecast for the global synchrophasor by component, application, and region.
Synchrophasor Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
Synchrophasor Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Fault Analysis
• State Estimation
• Stability Monitoring
• Power System Control
• Operational Monitoring
• Improve Grid Visualization
• Others
Synchrophasor Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Synchrophasor Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies synchrophasor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the synchrophasor companies profiled in this report include-
• ABB
• Arbiter Systems
• Electric Power
• General Electric
• Nr Electric
• Qualitrol
• Schweitzer Engineering Laboratories
Synchrophasor Market Insights
Lucintel forecasts that hardware will remain the larger segment over the forecast period due to high need for measuring and synchronizing the phase angle and magnitude of electrical quantities.
Within this market, power system control is expected to witness highest growth as synchrophasor helps in improving the reliability, efficiency, and security of power systems.
North America will remain the largest segment over the forecast period due to growing adoption of smart grid technologies.
Features of the Global Synchrophasor Market
Market Size Estimates: Synchrophasor market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Synchrophasor market size by component, application, and region in terms of value ($B).
Regional Analysis: Synchrophasor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different components, applications, and regions for the synchrophasor market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the synchrophasor market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the synchrophasor market size?
Answer: The global synchrophasor market is expected to reach an estimated $0.9 billion by 2030.
Q.2 What is the growth forecast for synchrophasor market?
Answer: The global synchrophasor market is expected to grow with a CAGR of 17.2% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the synchrophasor market?
Answer: The major drivers for this market are modernizing the power grid infrastructure, high occurrences of power failures, and rising investments in smart grid projects.
Q4. What are the major segments for synchrophasor market?
Answer: The future of the synchrophasor market looks promising with opportunities in the fault analysis, state estimation, stability monitoring, power system control, operational monitoring, and improve grid visualization markets.
Q5. Who are the key synchrophasor market companies?
Answer: Some of the key synchrophasor companies are as follows:
• ABB
• Arbiter Systems
• Electric Power
• General Electric
• Nr Electric
• Qualitrol
• Schweitzer Engineering Laboratories
Q6. Which synchrophasor market segment will be the largest in future?
Answer: Lucintel forecasts that hardware will remain the larger segment over the forecast period due to high need for measuring and synchronizing the phase angle and magnitude of electrical quantities.
Q7. In synchrophasor market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest segment over the forecast period due to growing adoption of smart grid technologies.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the synchrophasor market by component (hardware and software), application (fault analysis, state estimation, stability monitoring, power system control, operational monitoring, improve grid visualization, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Synchrophasor Market, Synchrophasor Market Size, Synchrophasor Market Growth, Synchrophasor Market Analysis, Synchrophasor Market Report, Synchrophasor Market Share, Synchrophasor Market Trends, Synchrophasor Market Forecast, Synchrophasor Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Synchrophasor Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Synchrophasor Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Synchrophasor Market by Component
3.3.1: Hardware
3.3.2: Software
3.4: Global Synchrophasor Market by Application
3.4.1: Fault Analysis
3.4.2: State Estimation
3.4.3: Stability Monitoring
3.4.4: Power System Control
3.4.5: Operational Monitoring
3.4.6: Improve Grid Visualization
3.4.7: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Synchrophasor Market by Region
4.2: North American Synchrophasor Market
4.2.2: North American Synchrophasor Market by Application: Fault Analysis, State Estimation, Stability Monitoring, Power System Control, Operational Monitoring, Improve Grid Visualization, and Others
4.3: European Synchrophasor Market
4.3.1: European Synchrophasor Market by Component: Hardware and Software
4.3.2: European Synchrophasor Market by Application: Fault Analysis, State Estimation, Stability Monitoring, Power System Control, Operational Monitoring, Improve Grid Visualization, and Others
4.4: APAC Synchrophasor Market
4.4.1: APAC Synchrophasor Market by Component: Hardware and Software
4.4.2: APAC Synchrophasor Market by Application: Fault Analysis, State Estimation, Stability Monitoring, Power System Control, Operational Monitoring, Improve Grid Visualization, and Others
4.5: ROW Synchrophasor Market
4.5.1: ROW Synchrophasor Market by Component: Hardware and Software
4.5.2: ROW Synchrophasor Market by Application: Fault Analysis, State Estimation, Stability Monitoring, Power System Control, Operational Monitoring, Improve Grid Visualization, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Synchrophasor Market by Component
6.1.2: Growth Opportunities for the Global Synchrophasor Market by Application
6.1.3: Growth Opportunities for the Global Synchrophasor Market by Region
6.2: Emerging Trends in the Global Synchrophasor Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Synchrophasor Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Synchrophasor Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: ABB
7.2: Arbiter Systems
7.3: Electric Power
7.4: General Electric
7.5: NR Electric
7.6: Qualitrol
7.7: Schweitzer Engineering Laboratories
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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