Overview and Scope
Teleprotection quickly convey command signals to selectively disconnect the defective part to avoid system failure and harm. Teleprotection systems use communications-aided coordination between relays to monitor and safeguard transmission lines. The protective relays, together with communication links, help selectively isolate essential components of high-voltage power lines, transformers, reactors, and other electrical equipment from faults.
Sizing and Forecast
The teleprotection market size has grown exponentially in recent years. It will grow from $21.92 billion in 2023 to $28.11 billion in 2024 at a compound annual growth rate (CAGR) of 28.2%. The growth in the historic period can be attributed to increasing power demand, rising incidence of blackouts, increasing interconnection, rise of renewable energy sources, cybersecurity concerns.
The teleprotection market size is expected to see exponential growth in the next few years. It will grow to $70.77 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to rapid urbanization, electrification of transportation, integration of 5G technology, investments in transmission infrastructure, transition to cleaner energy sources. Major trends in the forecast period include adoption of blockchain technology, cloud-based teleprotection solutions, hybrid teleprotection solutions, human-machine collaboration, increasing use of predictive analytics.
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Segmentation & Regional Insights
The teleprotection market covered in this report is segmented –
1) By Type: Teleprotection Unit, Communication Network Technology, Telecontrol Software and Services
2) By Component: Intelligent Electronic Device (IED), Interface Device, Communication Network Components, Teleprotection SCADA
3) By Application: Power, Telecom, Information Technology, Oil and Gas Pipelines, Transportation, Aerospace and Defense, Other Applications
Top 5 Major Players:
- EnerNex SpA,
- Mitsubishi Electric Corporation,
- Siemens AG,
- General Electric Company,
- Cisco Systems Inc
North America was the largest region in the teleprotection market in 2023. The regions covered in the teleprotection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The huge demand in the telecom sector is expected to drive the growth of the teleprotection market. The telecommunications industry is made up of businesses that include wireless communication, telecom services, and telecom equipment and sends data in the form of words, speech, audio, or video worldwide. The demand for the telecom sector has grown due to increased digitization, work-from-home scenarios, online transactions and others. The physical interface between the telecommunications infrastructure and the protective relays is provided by teleprotection. The protection system activates circuit breakers or reclosers in response to a fault to prevent network failure. For instance, in 2021, according to a report published by Care Rating, an India-based service rating business with a presence that provides a broad range of sector-specific rating and grading services, the combined 4G customer base of the top 3 telcos expanded by a robust 50.8% from Financial Year (FY)19 to (FY)21, from 474 million to 715 million, increasing the proportion of 4G subscribers in their total subscriber base from 51.4% to 70.3%. Thus, a rise in demand for the telecom sector will increase the demand for teleprotection.
Key Industry Players
Major companies operating in the teleprotection market report are EnerNex SpA, Mitsubishi Electric Corporation, Siemens AG, General Electric Company, Cisco Systems Inc., Schneider Electric SE, ABB Ltd., Nokia Corp, Toshiba Corporation, Eaton Corporation, Alstom SA, Amperion Inc., DNV GL, Schweitzer Engineering Laboratories Inc., Alcatel Lucent SA, Horizon Power Systems Inc., BPL Global, ARTECHE Group, Nova Systems Ltd., Efacec Power Solutions SA, L&T Electrical & Automation, OMICRON electronics GmbH, G&W Electric Company, NovaTech LLC, Quanta Technology LLC, RFL Electronics Inc., Rugged Controls LLC, NR Electric Co Ltd., ZIV Automation India Pvt Ltd., SEL Engineering Services Inc., Kalkitech, Moxa Inc., TC Communications Pvt Ltd.
The teleprotection market report table of contents includes:
1. Executive Summary
2. Teleprotection Market Characteristics
3. Teleprotection Market Trends And Strategies
4. Teleprotection Market – Macro Economic Scenario
5. Global Teleprotection Market Size and Growth
….
32. Global Teleprotection Market Competitive Benchmarking
33. Global Teleprotection Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Teleprotection Market
35. Teleprotection Market Future Outlook and Potential Analysis
36. Appendix
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