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Synchrophasor Market to Witness Robust Expansion by 2023

Synchrophasor Market to Witness Robust Expansion by 2023

New report published by Market Research Report Store (MRRS) which offers insights on the global Synchrophasor market.

Synchrophasors use phasor measurement units (PMUs) as monitoring devices that measure current, instantaneous voltage, and frequency at specific locations on an electric grid. This provides the operators with a real-time picture of the grid system helping them to make decisions to prevent power outage.

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Global Synchrophasor Market: Forecast by Type / Application / Region

The increasing need for reduced grid outages is one of the primary growth factors for this market. Power outages have become frequent due to the increased strain on infrastructure that attributes to the aging infrastructure, rise in population, and the increased demand for power. Additionally, factors such as inclement weather, equipment failure, maintenance shutdown, load-shedding, vandalism, and cyber-attacks also result in power outages. Power outages cause inconvenience to the end users and also result in huge losses for the utilities, impede emergency services, and jeopardize national security, as it compromises the communication and security systems. Utilities are attempting to implement smart grid technologies to reduce the power outages and to restore power quickly to prevent loss of data and revenue. Synchrophasors collect the voltage, current, and frequency data thus providing the operator an accurate and dynamic view of the grid that help the operators in identifying, locating, and resolving potential threats in the grid, which will result in increasing their demand during the coming years.

The Americas is estimated to be the major revenue contributor to the synchrophasors market throughout the forecast period. This is mainly due to the increased funding from the governments of countries in this region towards the development of smart grids. To enable the efficient monitoring of the grid and to improve its performance, utilities have already deployed numerous power management units (PMUs).

Over the next five years, LPI(LP Information) projects that Synchrophasors will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.

Global Synchrophasor Market: Key Players
ABB
Arbiter Systems
General Electric
Schweitzer Engineering Laboratories

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Related Information:
United States Synchrophasor Market Research Report 2018
Europe Synchrophasor Market Research Report 2018
North America Synchrophasor Market Research Report 2018
Asia-Pacific Synchrophasor Market Research Report 2018
China Synchrophasor Market Research Report 2018
EMEA Synchrophasor Market Research Report 2018
Global Synchrophasor Market Research Report 2018

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