PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886922
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886922
The global synchrophasor market is witnessing significant momentum as utilities increasingly transition toward modern, digital, and resilient grid infrastructures. According to the report, the market was valued at USD 282.42 million in 2024, is expected to rise to USD 300.08 million by 2025, and is projected to reach USD 649.42 million by 2032, reflecting a strong CAGR of 11.66%. In 2024, North America led the market with a 37.46% share, supported by high smart-grid adoption, early PMU deployment programs, and strong regulatory backing.
Synchrophasors-also known as synchronized phasors-provide real-time measurements of electrical parameters across the power grid. These measurements are collected by Phasor Measurement Units (PMUs) and transmitted to Phasor Data Concentrators (PDCs) for wide-area analysis and control. These high-precision, time-synchronized data streams enable utilities to identify faults, detect instability, and enhance situational awareness across large geographical regions, improving both operational efficiency and system reliability. With the global shift toward smart grids, PMUs have become critical components in maintaining grid resilience, accommodating renewable energy integration, and preventing large-scale outages.
Market Dynamics
Market Driver - Economic Advantages Strengthen Adoption
The deployment of synchrophasor technology delivers major operational and economic advantages. Utilities benefit from reduced operations and maintenance costs, improved asset utilization, and enhanced visibility into system performance. By enabling continuous monitoring of voltage, frequency, and phase angles, synchrophasors significantly reduce outage risk and optimize grid performance. These efficiencies translate into long-term cost savings for utilities and end consumers, encouraging wider deployment across regional and national grids.
Market Driver - Grid Modernization Spurs PMU Installations
Aging grid infrastructure is a major global concern. Many countries face challenges such as equipment failures, blackouts, and limited integration capacity for renewable energy sources. Synchrophasors address these issues by providing real-time data essential for system operators to make accurate decisions during grid disturbances. Their ability to support renewable integration, stabilize grid operations, and reduce losses makes PMUs indispensable for grid modernization efforts.
Market Restraint - High Initial Costs
Despite their benefits, high installation and integration costs remain a major barrier. Synchrophasor systems require PMUs, PDCs, storage, software, communication networks, cybersecurity layers, and skilled personnel. This increases upfront costs, particularly for utilities in developing economies. However, increasing government support and tech advancements are expected to reduce costs over time.
Market Opportunity - Digitization of Grid Infrastructure
The global transition to clean energy is accelerating grid digitalization. With renewable penetration increasing, power systems are facing greater variability, requiring advanced tools for forecasting, monitoring, and control. The International Energy Agency notes that digital technologies can save USD 1.8 trillion in global grid investment by 2050. As utilities aim to achieve net-zero goals, investments in PMU-based Wide Area Monitoring Systems (WAMS) are expected to grow significantly.
Market Challenge - Cybersecurity Risks
Synchrophasor systems generate sensitive real-time data, making cybersecurity a critical concern. Data confidentiality, integrity, and availability must be protected end-to-end-from PMUs to PDCs and control centers. Cyber threats such as data tampering or denial-of-service attacks can compromise system reliability, requiring robust protection frameworks.
Market Trends
A major trend is the growing global recognition and certification of synchrophasor systems. For example, Hitachi ABB Power Grids' RES670 PMU received IEEE certification, strengthening trust and accelerating global adoption. International conformity testing enhances technological credibility and promotes competitive differentiation.
Segmentation Overview
By Component
Phasor Measurement Units (PMUs) dominate the market as core hardware devices for real-time phasor data collection. Phasor Data Concentrators (PDCs) serve as essential intermediaries, aggregating and synchronizing PMU data for advanced monitoring and control applications.
By Application
The monitoring and analysis segment holds the largest share, fueled by growing deployment of PMUs for wide-area monitoring, disturbance detection, and stability analysis.
Offline applications-including post-event analysis and model validation-also play a critical role in improving system planning and reliability.
North America - Market Leader
Valued at USD 105.80 million in 2024, North America remains the dominant region due to robust smart-grid investments and early PMU deployment through U.S. Department of Energy programs such as SGIG and SGDP.
Europe
Driven by decarbonization targets and high renewable integration, Europe is expanding WAMS deployment through TSOs such as TenneT and National Grid.
Asia Pacific
Rapid grid expansion, urbanization, and blackout risks in India, China, and Southeast Asia drive significant demand for grid-stability solutions such as synchrophasors.
Latin America & Middle East/Africa
These regions are in early adoption phases but are expected to grow steadily as renewable penetration rises and grid modernization programs advance.
Conclusion
With the market expanding from USD 282.42 million in 2024 to USD 649.42 million by 2032, synchrophasors are becoming central to global grid modernization efforts. Their role in enabling real-time grid visibility, renewable integration, and operational reliability positions them as essential technologies for the future of electricity networks.
Segmentation By Component
By Application
By Region