The North America Synchrophasor Market would witness market growth of 8.8% CAGR during the forecast period (2024-2031).
The US market dominated the North America Synchrophasor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $287.6 million by 2031. The Canada market is experiencing a CAGR of 11.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.2% during (2024 - 2031).
Critical application of synchrophasors is fault detection and localization. By analyzing the phase angles and magnitudes of synchrophasor measurements, operators can quickly pinpoint the location of faults or disturbances within the grid.
Additionally, by analyzing frequency deviations and phase differences across different points in the grid, synchrophasors enable operators to detect and mitigate oscillations efficiently. This capability improves overall grid stability and prevents oscillatory events from causing disruptions or equipment damage.
As electricity demand in Canada grows, grid operators face challenges maintaining grid reliability and stability. Synchrophasor technology provides real-time monitoring of grid conditions, offering precise measurements of voltage, current, and frequency dynamics across transmission and distribution networks. This capability is essential for identifying and managing grid disruptions, optimizing grid operations, and ensuring consistent electricity supply amidst varying demand patterns.
Free Valuable Insights: The Synchrophasor Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
By Component
By Application
By Country
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