Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Synchrophasor Market 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The latest market research report projects substantial growth within the global synchrophasor market, anticipating an expansion by USD 177.94 million from 2023 to 2028, with a compound annual growth rate (CAGR) of 11%. This analysis encapsulates key insights into market dynamics, embracing emerging trends, driving forces, and prospective challenges shaping the industry's trajectory.
Driven predominantly by the escalating need to minimize grid disturbances, the burgeoning installation of renewable energy systems, and concerted governmental efforts to uplift grid reliability, the market for synchrophasors is witnessing an uptrend. Synchrophasors, pivotal in real-time monitoring and control of power systems, are integral to the modernization of the electric grid.
This market evaluation delineates distinct applications and components that form the structural basis of the industry:
- By Application:
- Power station
- Transforming station
- Others
- By Component:
- Hardware
- Software
- By Geographical Landscape:
- North America
- APAC
- Europe
- South America
- Middle East and Africa
Among the noteworthy findings, the genesis and subsequent rise of smart grid technology are pinpointed as critical drivers propelling market augmentation. Moreover, developments in smart grid data management coupled with the evolving structural paradigm of power grids are expected to induce substantial market demand.
This multi-faceted report offers an expansive market sizing critique, future trajectory forecasting, and industry analysis. The study bestows a thorough vendor analysis, charting the landscape occupied by pivotal market players and delivering insights for clients to enhance their market position.
A selection of companies mentioned in this report includes
- 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.
- Vizimax Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xzk9jz
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