Press release
Synchrophasor Market: Understanding the Key Product Segments and their Future 2031
Synchrophasor Market Forecast and CAGR
According to latest research by Persistence Market Research, Synchrophasor market is set to witness exceptional growth between 8% and 10% during 2021-2031. Advancements in communication technologies, alongside advancing automation and monitoring systems are anticipated to have a positive impact on the market.
What is Driving Demand for Synchrophasor?
Phasor measurement units (PMUs) collect data, which gives information regarding grid performance, and transmit it to phasor data concentrator (PDC) devices to identify anomalies, if any, in the grid system
GET A CUSTOMIZED SCOPE TO MATCH YOUR NEED ASK AN EXPERT - https://www.persistencemarketresearch.com/ask-an-expert/32502
The aging grid framework, the rise in domestic and commercial energy consumption rates, industrialization and development of civic infrastructure and an increased demand on power resources have created strain on the framework causing power blackouts, owing to which government organizations and end users are extensively adopting smart grids and this factor is considered to have optimistic results on the market.
For instance according to US. Energy Department currently U.S has 9,200 electric generating units with more than 1 million megawatts of generating capacity connected to more than 300,000 miles of transmission lines, with such numbers smart grids are critical for the power systems.
Increasing custom electric powers systems have proved to be beneficial for the market. Increasing complexity and efficiency concerns has increased the demand for monitoring systems and therefore Synchrophasor has emerged as best option for the above application. Additionally its benefits over conventional methods will further uplift the market.
Renewable Energy Industry to boost Synchrophasor Sales
The rapid adoption of renewable energy has further complicated things for the power system and made power grids vulnerable than ever and demand for Synchrophasor have been consistently increasing for monitoring purposes in the power grid systems.
Although Covid-19 pandemic slightly affected the market due to closure of and shutdown of industrial sector, however the market is forecast to get on track in next few quarters.
FOR ENTIRE LIST OF MARKET PLAYERS, REQUEST FOR TOC HERE - https://www.persistencemarketresearch.com/toc/32502
North America Market Outlook
Demand for Synchrophasor in US and Canada will be led by Energy sector.
Government is enrolling schemes and promoting inter industry collaboration to encourage use of Synchrophasor technology, like North American Synchrophasor Initiative (NASPI), which is a collaboration between electric industry, the North American Electric Reliability Corporation (NERC), and the U.S. Department of Energy (DOE) to advance the use of synchrophasor technology to enhance grid reliability and economics through high-speed, wide-area measurement, monitoring, and control.
Europe Demand Scenario Overview
European Commission is by far most active organization keen to reduce its carbon footprint, owing to which this organization is regulating and implementing norms to reduce carbon footprint across all industries.
As of March 1, 2021, the European Energy Label Regulation 2019/2018 came into force for professional equipment. The purpose of the European Union is to reduce the environmental impact in terms of energy consumption by encouraging and promoting the sale of more efficient and sustainable products, which expected to be optimistic factor for the market.
Also integration of renewable energy sources in smart grids is expected to drive the market in the region. This integration decrease the carbon footprint generated from electric power frameworks, thus improving the overall efficiency of smart grid platforms and decreasing the reliance on non-renewable control source.
GAIN COMPLETE ACCESS TO THE REPORT PRE-BOOK HERE - https://www.persistencemarketresearch.com/checkout/32502
Who are the Key Manufacturers and Suppliers of Synchrophasor?
Some of the leading manufacturers and suppliers of Synchrophasor include
Schneider Electric
Siemens
Toshiba Corporation
General Electric
ABB Ltd
Schweitzer Engineering Laboratories Inc.
Powerside
Arbiter Systems
Macrodyne
Others
Many leading manufacturers are indeed a smart grid infrastructure and large scale power system manufactures and have agreements with governments, like Siemens.
Explore PMR's Extensive Coverage on Industrial Automation Domain -
Laser Warning System Market
The global laser warning system market has been valued at around US$ 452 Mn in 2018 and will reportedly expand at a CAGR of 5.8% through 2028, as suggested by PMR's study: https://www.persistencemarketresearch.com/market-research/laser-warning-system-market.asp
Shipping Containers Market
The rising number of manufacturing units would result in significant rise in demand for containers and improving transportation services are boosting growth of the container shipping market: https://www.persistencemarketresearch.com/market-research/container-shipping-market.asp
Platform Screen Doors Market
The platform screen doors market is estimated to be valued at ~ US$ 861.1 Mn in 2019. Market gains are further upheld by governmental schemes that reinforce deployment of platform screen doors in the largest possible numbers: https://www.persistencemarketresearch.com/market-research/platform-screen-doors-market.asp
Industrial Gloves Market
Global Industrial Gloves Market - check share, size, revenue, valuation, CAGR, regional outlook, key players, competitive landscape, top manufacturers & forecast: https://www.persistencemarketresearch.com/market-research/industrial-gloves-market.asp
Contact us:
Persistence Market Research
305 Broadway, 7th Floor,
New York City, NY 10007
United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Web- https://www.persistencemarketresearch.com
About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.
According to latest research by Persistence Market Research, Synchrophasor market is set to witness exceptional growth between 8% and 10% during 2021-2031. Advancements in communication technologies, alongside advancing automation and monitoring systems are anticipated to have a positive impact on the market.
What is Driving Demand for Synchrophasor?
Phasor measurement units (PMUs) collect data, which gives information regarding grid performance, and transmit it to phasor data concentrator (PDC) devices to identify anomalies, if any, in the grid system
GET A CUSTOMIZED SCOPE TO MATCH YOUR NEED ASK AN EXPERT - https://www.persistencemarketresearch.com/ask-an-expert/32502
The aging grid framework, the rise in domestic and commercial energy consumption rates, industrialization and development of civic infrastructure and an increased demand on power resources have created strain on the framework causing power blackouts, owing to which government organizations and end users are extensively adopting smart grids and this factor is considered to have optimistic results on the market.
For instance according to US. Energy Department currently U.S has 9,200 electric generating units with more than 1 million megawatts of generating capacity connected to more than 300,000 miles of transmission lines, with such numbers smart grids are critical for the power systems.
Increasing custom electric powers systems have proved to be beneficial for the market. Increasing complexity and efficiency concerns has increased the demand for monitoring systems and therefore Synchrophasor has emerged as best option for the above application. Additionally its benefits over conventional methods will further uplift the market.
Renewable Energy Industry to boost Synchrophasor Sales
The rapid adoption of renewable energy has further complicated things for the power system and made power grids vulnerable than ever and demand for Synchrophasor have been consistently increasing for monitoring purposes in the power grid systems.
Although Covid-19 pandemic slightly affected the market due to closure of and shutdown of industrial sector, however the market is forecast to get on track in next few quarters.
FOR ENTIRE LIST OF MARKET PLAYERS, REQUEST FOR TOC HERE - https://www.persistencemarketresearch.com/toc/32502
North America Market Outlook
Demand for Synchrophasor in US and Canada will be led by Energy sector.
Government is enrolling schemes and promoting inter industry collaboration to encourage use of Synchrophasor technology, like North American Synchrophasor Initiative (NASPI), which is a collaboration between electric industry, the North American Electric Reliability Corporation (NERC), and the U.S. Department of Energy (DOE) to advance the use of synchrophasor technology to enhance grid reliability and economics through high-speed, wide-area measurement, monitoring, and control.
Europe Demand Scenario Overview
European Commission is by far most active organization keen to reduce its carbon footprint, owing to which this organization is regulating and implementing norms to reduce carbon footprint across all industries.
As of March 1, 2021, the European Energy Label Regulation 2019/2018 came into force for professional equipment. The purpose of the European Union is to reduce the environmental impact in terms of energy consumption by encouraging and promoting the sale of more efficient and sustainable products, which expected to be optimistic factor for the market.
Also integration of renewable energy sources in smart grids is expected to drive the market in the region. This integration decrease the carbon footprint generated from electric power frameworks, thus improving the overall efficiency of smart grid platforms and decreasing the reliance on non-renewable control source.
GAIN COMPLETE ACCESS TO THE REPORT PRE-BOOK HERE - https://www.persistencemarketresearch.com/checkout/32502
Who are the Key Manufacturers and Suppliers of Synchrophasor?
Some of the leading manufacturers and suppliers of Synchrophasor include
Schneider Electric
Siemens
Toshiba Corporation
General Electric
ABB Ltd
Schweitzer Engineering Laboratories Inc.
Powerside
Arbiter Systems
Macrodyne
Others
Many leading manufacturers are indeed a smart grid infrastructure and large scale power system manufactures and have agreements with governments, like Siemens.
Explore PMR's Extensive Coverage on Industrial Automation Domain -
Laser Warning System Market
The global laser warning system market has been valued at around US$ 452 Mn in 2018 and will reportedly expand at a CAGR of 5.8% through 2028, as suggested by PMR's study: https://www.persistencemarketresearch.com/market-research/laser-warning-system-market.asp
Shipping Containers Market
The rising number of manufacturing units would result in significant rise in demand for containers and improving transportation services are boosting growth of the container shipping market: https://www.persistencemarketresearch.com/market-research/container-shipping-market.asp
Platform Screen Doors Market
The platform screen doors market is estimated to be valued at ~ US$ 861.1 Mn in 2019. Market gains are further upheld by governmental schemes that reinforce deployment of platform screen doors in the largest possible numbers: https://www.persistencemarketresearch.com/market-research/platform-screen-doors-market.asp
Industrial Gloves Market
Global Industrial Gloves Market - check share, size, revenue, valuation, CAGR, regional outlook, key players, competitive landscape, top manufacturers & forecast: https://www.persistencemarketresearch.com/market-research/industrial-gloves-market.asp
Contact us:
Persistence Market Research
305 Broadway, 7th Floor,
New York City, NY 10007
United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Web- https://www.persistencemarketresearch.com
About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
