Global Synchrophasors Market 2017-2021
Phasor measurement units (PMUs) collect data, which is a measure of grid health, and transmit it to phasor data concentrator (PDC) devices to identify anomalies, if any, in the grid system. Data such as phase angle, power flow, frequency changes are measured across several points of the power system and are transmitted in real-time to help improve the overall system operation.
Technavio’s analysts forecast the global synchrophasors market to grow at a CAGR of 14.58% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global synchrophasors market for 2017-2021. To calculate the market size, the report considers new installations of hardware components such as PDC, PMUs, and the software required for data management and excludes the network infrastructure and aftermarket.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Synchrophasors Market 2017-2021
Technavio recognizes the following companies as the key players in the global synchrophasors market: ABB, Arbiter Systems, General Electric, and Schweitzer Engineering Laboratories.
Other Prominent Vendors in the market are: BEIJING SIFANG AUTOMATION, Comverge (part of Itron), Doble Engineering Company, Electric Power Group, ERLPhase Power Technologies, Green Mountain Power, Intel, Macrodyne, Power Sensors, PowerWorld, Quanta Technology, Schneider Electric, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing smart grid data management market. Globally the power grid is transitioning to smart grid by the use of several sensors and devices for sensing, collecting, and analyzing the operation of the grid. This transition is driven by the need to improve the grid efficiency, and managing the aging assets in the field, while also exceeding the customer expectation in terms of service and power supply reliability.”
According to the report, one driver in the market is increasing need for reducing grid outages. The aging infrastructure, the rise in population, and an increased demand on power resources have increased the strain on the infrastructure causing power outages. The exhibit below represents the year-over-year analysis of the number of outages in the US between 2009-2016 caused by inclement weather, equipment failure, maintenance shutdown, load-shedding, vandalism, and cyber-attacks.
Further, the report states that one challenge in the market is high cost of communication system installation. Synchrophasor technology provides a real-time situational awareness and control of the grid system. It can help utilities identify and locate disturbances across the grid network and is not geographically limited thus helping in making the grid resilient. The data collected by PMUs is timestamped using GPS signal, and the data is then sent to the PDC devices.
ABB, Arbiter Systems, General Electric, Schweitzer Engineering Laboratories, BEIJING SIFANG AUTOMATION, Comverge (part of Itron), Doble Engineering Company, Electric Power Group, ERLPhase Power Technologies, Green Mountain Power, Intel, Macrodyne, Power Sensors, PowerWorld, Quanta Technology, Schneider Electric, and Siemens.