The Latin America, Middle East and Africa Synchrophasor Market would witness market growth of 11.1% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Synchrophasor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $19.9 million by 2031. Argentina market is registering a CAGR of 12.3% during (2024 - 2031). Additionally, The UAE market would experience a CAGR of 10.4% during (2024 - 2031).
One of the primary applications of this is grid monitoring and stability assessment. By continuously monitoring voltage and frequency deviations across the grid, synchrophasors help operators identify and mitigate potential instabilities before they escalate into larger issues.
Moreover, it supports wide-area monitoring and control (WAMC), allowing operators to monitor grid conditions over large geographic areas in real-time. This capability is particularly beneficial in interconnected grids, where disturbances in one region can propagate and affect neighboring areas.
With increasing electricity capacity, the UAE’s power grid becomes more complex. Synchrophasors provide real-time voltage, frequency, and phase angle data for grid stability. As per the U.S. Energy Information Administration, total electricity capacity in the UAE grew by almost 10 gigawatts (GW) from 2012 to 2021. About 44% of this growth was in capacity derived from fossil fuels. The remainder of the growth in capacity in this period came from nuclear and solar energy sources.
Free Valuable Insights: The Worldwide Synchrophasor Market is Projected to reach USD 1.1 Billion by 2031, at a CAGR of 9.3%
Based on Component, the market is segmented into Hardware, and Software. Based on Application, the market is segmented into Fault Analysis, Stability Monitoring, State Estimation, Improve Grid Visualization, Operational Monitoring, Power System Control, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Component
By Application
By Country
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