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Global Synchrophasors Industry: Key Statistics and Insights in 2025-2033
Summary:
The global synchrophasors market size reached USD 380.9 Million in 2024.
The market is expected to reach USD 1,601.7 Million by 2033, exhibiting a growth rate (CAGR) of 16.44% during 2025-2033.
North America's leads the market, accounting for the largest synchrophasors market share.
Based on components, the market is divided into groups for software and hardware.
It has been further subdivided into a number of applications, such as improvements in grid visualization, fault analysis, state estimation, stability monitoring, power system control, and operational monitoring.
Electrical networks are becoming far more uncertain and unstable as a result of the global transition to renewable energy sources and the decentralization of power generation.
The industry is expanding as a result of governments around the world enforcing strict laws pertaining to grid resilience and energy efficiency.
Industry Trends and Drivers:
Growth of Renewable Energy and Grid Modernization:
As solar and wind power surge, grid monitoring demands evolve. Synchrophasors deliver instant insights, bolstering system stability and renewable integration. These tools prove increasingly vital in our global shift to cleaner energy sources. Utilities leverage their real-time data to navigate the complexities of modern power systems, ensuring reliable electricity distribution amid changing landscapes.
Enhanced Grid Security and Resilience:
Threats loom over the power grid, from physical assaults to digital intrusions. Enter synchrophasors: vigilant sentinels offering real-time insight. These tools spot anomalies swiftly, shielding against tangible damage and virtual onslaughts. Their watchful eye ensures the grid stays robust, reliable, and ready to weather any storm.
Advanced Grid Analytics and Decision-Making:
Synchrophasors produce a vast amount of data that can be analyzed using advanced analytics. This data not only helps identify issues but also provides valuable insights into grid performance. By leveraging AI and machine learning, utilities can improve customer satisfaction, operational effectiveness, and efficiency. Moreover, synchrophasors support predictive maintenance and data-driven decision-making, leading to cost savings and increased consistency.
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Synchrophasors Market Report Segmentation:
By Component:
Hardware
Software
Based on the component, the market has been bifurcated into hardware and software.
By Application:
Fault Analysis
State Estimation
Stability Monitoring
Power System Control
Operational Monitoring
Improve Grid Visualization
Others
On the basis of the application, the market has been divided into fault analysis, state estimation, stability monitoring, power system control, operational monitoring, improve grid visualization, and others.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America's dominance in the synchrophasors market is attributed to the increasing automation of business operations and rising focus on renewable energy sources.
Top Synchrophasors Market Leaders:
The synchrophasors market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
ABB Ltd.
Arbiter Systems Inc.
Electric Power Group LLC
General Electric Company
NR Electric Co. Ltd.
Qualitrol Company LLC (Fortive Corporation)
Schweitzer Engineering Laboratories Inc.
Siemens AG
Toshiba Corporation
Vizimax Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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