Global Synchrophasor Market 2024-2028
The synchrophasor market is forecasted to grow by USD 177.94 mn during 2023-2028, accelerating at a CAGR of 11% during the forecast period. The report on the synchrophasor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing need for reducing grid outages, rise in installed capacity of renewable energy, and government support to enhance grid reliability.
Technavio's synchrophasor market is segmented as below:
By Application
- Power station
- Transforming station
- Others
By Component
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the increasing benefits and advancements of smart grids as one of the prime reasons driving the synchrophasor market growth during the next few years. Also, growing smart grid data management and changing power grid structure will lead to sizable demand in the market.
The report on the synchrophasor market covers the following areas:
- Synchrophasor market sizing
- Synchrophasor market forecast
- Synchrophasor market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading synchrophasor market vendors that include ABB Ltd., ALSTOM SA, Arbiter Systems Inc., ElectraNet Pty Ltd., Electric Power Group LLC, ERLPhase Power Technologies Ltd., Fortive Corp., General Electric Co., Hitachi Ltd., Quanta Technology LLC, Schneider Electric SE, Schweitzer Engineering Laboratories Inc., SHENZHEN GUOWANG NARI TECHNOLOGY CO. LTD., Siemens AG, Toshiba Corp., and Vizimax Inc.. Also, the synchrophasor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.