Teleprotection Market Size, Share, Opportunities, COVID 19 Impact, And Trend By Offering (Hardware, Software), By End-User Industry (Communication And Technology, Energy And Power, Oil And Gas, Aerospace And Defense, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061610243
- Pages : 143
The global teleprotection market was valued at US$1.452 billion in 2020.
A teleprotection system monitors transmission line conditions and coordinates trips to quickly isolate faults. These systems prevent failure and damage to systems by disconnecting the faulty part automatically and remotely. There is an increase in demand for teleprotected grids. The market is driven by improved communication systems and protocols, demand for reducing transmission, old grid infrastructure, and distribution losses. The aerospace and defense industries hold immense potential. Seamless transmission combined with energy-saving with assistance from advanced communication and network technologies is augmenting the demand for teleprotection solutions.
The hardware segment held a significant market share
The teleprotection market is segmented on the basis of offering hardware and software. Teleprotection software consists of synchrophasors software, network management system software, etc. Data terminal equipment (DTE), optical interface equipment, directional electrical interface equipment, data circuit terminating equipment (DCE), etc. are part of teleprotection hardware. The hardware segment is anticipated to hold a noteworthy share throughout the forecast period.
The communication and technology segment is projected to grow substantially
The teleprotection market has been segmented by the end-user industry into communication and technology, energy and power, oil and gas, aerospace and defense, and others. The communication and technology sectors are expected to witness a high demand for teleprotection solutions. The emerging economies are developing telecom infrastructure, especially in countries, China, Brazil, India, and South Korea, among others, and are boosting the adoption of teleprotection, thereby contributing to market growth. Teleprotection systems offer advantages like increased stability, improved communication systems, and high efficiency. Advancing technologies and the need for energy-efficient solutions for the communication and technology sectors are expected to boost market growth in the years ahead.
The North American region is anticipated to dominate the global market
Regionally, the market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Geographically, North America is expected to hold a significant market share, driven by the high disposable income of citizens coupled with an urbanized society. The Asia Pacific region is expected to grow at the fastest rate owing to the rising adoption of teleprotection systems from the power and telecommunication sectors. Moreover, regional governments are focusing on the reduction in CO2 emissions and energy conservation, which coupled with developing electricity infrastructure, especially in emerging economies is significantly contributing to market growth.
The growing adoption of smart grids and other energy-efficient technologies is also boosting the demand for teleprotection systems over the forecast period. The communication network technology is further segmented into conventional and advanced systems. In the forecast period, the aerospace and defense, sector is experiencing significant demand for teleprotection systems. The rise in demand levels across various fields in power and telecom and the huge demand for uninterrupted power supply from developing countries.
The launch of diverse new product requirements from enterprises operating in the military, aerospace & defense, and information technology sectors, as well as integration with intelligent and advanced communication technologies, are the opportunities of the teleprotection market. There is a demand for teleprotected grids and utilities for employment in a number of industry verticals. With the advancement in communication network technologies; it is now possible to leverage high-end technologies for processing a heap of signals and information to reduce the risk of failure and blackouts for both consumers and OEMs.
- ABB Ltd provides grid control and communication systems, including WAN teleprotection products such as the FOX615 Core. FOX615 incorporates teleprotection interfaces for distance as well as differential protection inside cutting-edge SDH networks and MPLS-TP networks, enabling a simple and flexible solution to transition technology in a utility network.
- Promwad designed and tested the C37.94 Transceiver IP Core for teleprotection equipment. This design is for sale to businesses looking to drastically shorten the time it takes to develop FPGA-based applications. Promwad offers free remote technical assistance for one year from the date of purchase of the IP core. It covers phone, email, and Skype consultations. The maximum period for processing a technical assistance request is three business days.
Teleprotection Market Scope:
|Market Size Value in 2020||US$1.452 billion|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Offering, End-User Industry, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||ABB Ltd, General Electric Company, Schweitzer Engineering Laboratories, Siemens, Telco Systems, TC Communications, Inc., Mimomax Wireless Limited, TTC MARCONI s.r.o, Dewar Electronics Pty Ltd|
|Customization Scope||Free report customization with purchase|
The market is segmented on the basis of offering, end-user industry, and geography.
- By Offering
- By End-User Industry
- Communication and Technology
- Energy and Power
- Oil and Gas
- Aerospace and Defense
- By Geography
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. TELEPROTECTION MARKET ANALYSIS, BY OFFERING
6. TELEPROTECTION MARKET ANALYSIS, BY END-USER INDUSTRY
6.2. Communication and Technology
6.3. Energy and Power
6.4. Oil and Gas
6.5. Aerospace and Defense
7. TELEPROTECTION MARKET ANALYSIS, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. United Arab Emirates
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. ABB Ltd
9.2. General Electric Company
9.3. Schweitzer Engineering Laboratories
9.5. Telco Systems
9.6. TC Communications, Inc.
9.7. Mimomax Wireless Limited
9.8. TTC MARCONI s.r.o
9.9. Dewar Electronics Pty Ltd
General Electric Company
Schweitzer Engineering Laboratories
TC Communications, Inc.
Mimomax Wireless Limited
TTC MARCONI s.r.o
Dewar Electronics Pty Ltd
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