Synchrophasor Market Size, Share, Growth, and Industry Analysis, By Type (Type I, Type II), By Application (Power Station, Transforming Station, Others) and Regional Insights and Forecast to 2034

•   
•   
  

  Download Free Sample to learn more about this report

    

SYNCHROPHASOR MARKET OVERVIEW

The global synchrophasor market size was USD 0.532 billion in 2025 and is projected to touch USD 3.75 billion by 2034, exhibiting a CAGR of 24.3% during the forecast period 2025–2034.

The global synchrophasor market is concentrated on the advanced measurement technologies that are applicable to monitor and analyze the real-time working of electrical grid in the high precision. Phasor measurement units (PMUs) or synchrophasor are used to present time-phased data of voltage and current and the phase angle of power network to support better grid stability, fault detection, and energy management. The need to integrate more renewable energy sources, the modernization of the aging grid infrastructure, and the demand to be more reliable to the grid and have situational awareness are the driving factors of the market growth. Also, favorable government policies that are encouraging the use of smart grids and the implementation of IoT based monitoring systems are also boosting the demand of the synchrophasor technology in the world.

COVID-19 IMPACT

Synchrophasor Market Had a Negative Effect Due to Disruptions in Global Supply Chains, Project Delays, and Reduced Capital Investments in Power Infrastructure During COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic negatively affected the synchrophasor market share and disrupted the global supply chains, slowed down the progress of the projects, and turned down the expenditures on the power infrastructure. The installations of synchrophasor systems, pedestrianized and the maintenance process was slugged by lockdowns and travel restrictions, worsening grid modernization. The shift of the funds towards the basic healthcare services and economic recovery by utilities and governments resulted in delayed smart grid and digitalization initiatives. Also, the lack of workforce and production of essential components came late impacted the production schedules. Whereas the market did not achieve considerable success in the short term, the need to monitor the grid reliably and implement resilient power networks slowly started picking up as the economies started corporate operations after the pandemic.

LATEST TRENDS

Integration of Artificial Intelligence and Advanced Data Analytics Drives Market Growth

One latest trend in the synchrophasor market is the increased use of artificial intelligence (AI) and data analytics to improve the grid monitoring, predictive maintenance, and fault detection. Large amounts of synchrophasor data are analyzed by an AI algorithm in real time so that anomalies, voltage instability, and equipment failures can be detected early enough. This is a smart data processing which is more effective in fast decision making as well as enhancing reliability of the electricity grids in general. Further, AI combined with synchrophasor networks improves dynamic estimation and automation of the smart grids. With more utilities pursuing digital transformation technologies, AI-enhanced synchrophasor answers are shaping the parsimonious, reliable, secure, and dependable global actions of a system.

•   
•   
  

  Download Free Sample to learn more about this report

    

SYNCHROPHASOR MARKET SEGMENTATION

By Type

Based on type, the global market can be categorized into type I, type II

• Type I: Sphere Type I synchrophasor are intended to monitor current systems in power systems at high-speed and in real-time. They are of moderate accuracy and are usually utilized in that of dynamic grid applications in which fast response is required. Such units are applicable in fault detection, load balancing, and short-term stability analysis.

• Type II: Compared to Type I, Type II synchrophasor are more accurate and precise in measurement and can thus be more effectual in both performance analysis of a grid on a detailed level, and on a long-term stability level. They facilitate high levels of data analytics and connectivity with smart grid. Type II devices can frequently be found in a large-scale transmission network, or other critical applications of energy management.

By Application

Based on by application, the global market can be categorized into power station, transforming station, others

• Power Station: The synchrophasor in power stations are used to monitor the performance, stability of the voltage and power output of the generators in real time. They assist the operators to identify disturbances in the system at an early phase and control the grid syncing. This guarantees a good power production and improves general system reliability.

• Transforming Station: Synchrophasor allow constant monitoring of voltage, current and phase angle values along transmission lines at transforming stations. They enhance the fault detection, grid balancing and managing power flow between the various voltage levels. This helps in the safety and efficiency of power distribution network in its operation.

• Others: The other category consists of industrial facilities applications, renewable energy integration applications, and regional grid monitoring center applications. Applications Synchrophasor are used in these conditions to enable grid optimization, renewable coordination, and situational awareness in the system.

Market Dynamics

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

Growing Demand for Grid Stability and Real-Time Monitoring Boost the Market

The increasing demand of the grid stability and the constant real-time monitoring of the power systems can be considered the primary stimulating factors behind the synchrophasor market growth. As renewable energy sources which are variable and include solar and wind power, grid managers need precise and time-matched information to keep the business on track and avoid downtimes. Synchrophasor generate measurements of voltage, current, and phase angles with great accuracy over short times in the future and thus can detect faults early and promptly respond to them. Electrical utilities across the globe are embracing the concept of synchrophasor to create grid visibility, better situational awareness, and reliable demand of power especially as the demand of electricity increases in both the developed economies and emerging ones.

Increasing Modernization of Aging Power Infrastructure Expand the Market

Other key drivers that have contributed to the synchrophasor market is the modernization of aging power grids. In most parts of the world especially in North America and Europe, there are upgrades of the old transmission and distribution systems to match the current energy requirement. The use of synchrophasor is important in promoting more intelligent and automated grids since they can make measurements of the system in real time. The devices make power networks more efficient and resilient, and assist operators cope with the fluctuations in the loads, minimize downtimes, and combine distributed energy resources. Smart grid adoption and investment in digital infrastructure through government efforts is also continuing to hasten the introduction of synchrophasor technology into the market across the world.

Restraining Factor

High Implementation and Maintenance Costs Impede Market Growth

One of the biggest limitations in the synchrophasor market is expense of setting up, calibration, and maintenance of phasor measurement units (PMU) as well as allied communication infrastructures. Implementing synchrophasor systems on existing grid networks can be associated with high levels of hardware upgrade, data management systems and required human resources, which add up cost of project. In the case of developing regions, these expenses are punitive to such an extent that they slow the rate of adoption. In addition to that, the development of sophisticated data analytics tools and cybersecurity upkeep increases the costs of operations. As a result, the large financial investment necessary to affect the applications of the synchrophasor technology despite its benefits in enhancing grid reliability and performance is a major impediment to the successful adoption of the technology across a large population.

Integration with Smart Grids and Renewable Energy Systems Create Opportunity for The Product in The Market

Opportunity

There is a significant market opportunity in the increased integration of synchrophasor with smart grids and renewable energy systems. With the world transition to clean energy picking up, grid operators need highly sophisticated monitoring instrumentation to control the variability of solar and wind power. Synchrophasor offer real-time information that can be used to coordinate renewable energy, achieve better load balancing, and eliminate the instability in hybrid grids.

The fact they are compatible with digital communication networks and other systems that operate on IoT also reinforces their presence in the next-generation grid management. The world, especially governments and utilities, are bringing more investments in the infrastructure of smart grids, which has presented a positive scenario to the growth of synchrophasor-based solutions in sustainable energy systems.

Data Management and Cybersecurity Concerns Could Be a Potential Challenge for Consumers

Challenge

The challenge of entering the synchrophasor market is that the high amount of real-time information created by thousands of devices and delivering appropriate cybersecurity should be managed. Since synchrophasor constantly broadcast critical grid data in networks, they are victims of cyberattacks and information invasion. To ensure the integrity of the systems, the utilities should invest in advanced encryption, secure communication protocols, and practicable data storage solutions.

Besides, processing and analyzing a sizable synchrophasor information needs advanced analytics software and personnel. High-speed data transmission and security/scalability have remained a complicated quandary and utilities must integrate the sophisticated cybersecurity architecture in tandem with the technological innovation in the synchrophasor grid.

•   
•   
  Download Free Sample to learn more about this report

    

SYNCHROPHASOR MARKET REGIONAL INSIGHTS

• North America

The high-power grid infrastructure and the early development of smart power grid technologies mean that North America is already dominating the United States synchrophasor market. The United States and Canada lead the pack through state programs like the U.S. Department of Energy platform of Smart grid Investment Grants. This type of programs encourages grid modernization, reliability, and real time monitoring with synchrophasor technology. Market growth is also sustained by the high concentration of major players in the region (e.g. General Electric and Schweitzer Engineering Laboratories). Also, the growing adoption of renewable energy supply and burden on minimizing grid outages are increasing the popularity of the high-performance synchrophasor systems in North America.

• Europe

Europe is a major market in the synchrophasor, which is facilitated by the current grid modernization as well as the dedication of the continent toward integration of renewable energy. The U.K., Germany and France are among the countries that are making massive investments on the smart grid development and state of the art monitoring systems to improve efficiency and reliability of power. The synchrophasor deployment is further being boosted by the European Union energy policies that require interconnectivity of grids across borders and decarbonization. Moreover, joint development of projects between utilities, research and technology providers is enhancing the visibility of the grid and fault detection levels. As the ability of renewable energy increases, and the management of the power flow must be coordinated, Europe consolidates the popularity of the use of synchrophasor technologies.

• Asia

Asia-Pacific market is currently proving to be the most rapidly gaining system of synchrophasor technology fueled by the industrialization, urbanization as well as growing demand of electricity. China, India, Japan, and South Korea, among other countries are investing in power grid expansion and digitalization to have stable and efficient transmission of energy. The adoption of synchrophasor systems to monitor the grid in real time is being driven by smart grid initiatives led by governments in conjunction with increased adoption of renewable energy. Furthermore, the requirement to avoid blackout and enhance grid stability in the emerging economies is enhancing broader adoption. Policies and local manufacturing capacity are establishing Asia-Pacific as a key center regarding synchrophasor installations in the world energy arena.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Innovation and Market Expansion

The key industry players in the synchrophasor market will include General Electric Company, ABB Ltd., Siemens AG, Schweitzer engineering Laboratories, Inc., Arbiter Systems, Inc., Electric power group, LLC, Nari group Corporation, Schneider Electric SE, Wasion Group Holdings Ltd., and Eaton Corporation plc. These firms also specialize in the development of sophisticated phasor measurement units (PMUs), data concentrators, and real-time monitoring systems to be more reliable and stable in the grids. They invest in R&D and using smart grid and coordinating with utilities to enhance grid analytics and control. Ongoing technological development, connection to artificial intelligence analytics, and the development of renewable energy are among the ways that these players are spurring the expansion of the global synchrophasor market.

List Of Top Synchrophasor Market Companies

• Schweitzer Engineering Laboratories (U.S.)
• ABB (Switzerland)
• Beijing Sifang Automation Co., Ltd. (China)
• State Grid Corporation of China (China)

KEY INDUSTRY DEVELOPMENT

January 2024: The ABB Ability SynchroGuard New Edition solution by ABB Ltd. was introduced to enhance the stability of a grid, its reliability as well as the ability to monitor it in real time. This introduction reinforces ABB in the fields of developed smart grids and synchrophasor.

REPORT COVERAGE

The synchrophasor market continues to experience consistent annual growth linked to the increase in the real-time grid monitoring and stability as well as the upgrading of the aging infrastructure. The presence of synchrophasor in the grid is essential as more renewable energy sources are incorporated into it, and the management of power flow during peak periods is essential to maintain grid reliability and power flow efficiency. The further development of data analytics, artificial intelligence, and communication technologies is improving the quality and responsiveness of these systems. Despite the high implementation cost and cybersecurity issues being the critical issues, the supportive government programs and growing investments in smart grids are creating an adoption ground. Synchronous phasors with robust contributions by North America, Europe and growing and developing Asian market are gradually turning out to be very important in the next generation intelligent and resilient power systems.