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Teleprotection Market Analysis (2020-2025) Featuring Profiles of Major Players - Alstom, Alcatel-Lucent, GE, ABB, Cisco Systems, Schweitzer Engineering Laboratories, Siemens and Telco Systems
DUBLIN, March 10, 2020 /PRNewswire/ -- The "Teleprotection Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global teleprotection market is projected to grow at a CAGR of 20.45% over the forecast period to reach a market size of US$37.058 billion by 2025.
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. Aerospace and defense industry holds immense potential. Seamless transmission combined with energy-saving with assistance from advanced communication and network technologies is augmenting the demand for the teleprotection solutions. Government policies favoring the teleported grid in major economies is also contributing to the growing demand for
Hardware segment to hold significant market share
The teleprotection market is segmented on the basis of offering as 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.
Communication and technology segment is projected to grow substantially
Teleprotection market has been segmented by end-user industry into communication and technology, energy and power, oil and gas, aerospace and defense, and others. The communication and technology sector is expected to witness a high demand for the 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 the teleprotection, thereby contributing to the market growth. Teleprotection systems offers advantages like increased stability improved communication system, and high efficiency. Advancing technologies and the need for energy-efficient solutions for the communication and technology sector is expected to boost market growth in years ahead.
North America region to dominate the global market
Regionally the teleproection market is classified into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. The report also analyses 16 countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries presents for the manufacturers. Geographically, North America is expected to hold a significant market share driven by high disposable income of citizens coupled with 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 sector. Moreover, regional governments are focusing on the reduction in CO2 emission and energy conservation, coupled with developing electricity infrastructure, especially in emerging economies is significantly contributing to the market growth. The growing adoption of smart grid 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 aerospace and defense sector is experiencing significant demand for the teleprotection systems. The rise in demand levels across various fields in power and telecom and huge demand for uninterrupted power supply from developing countries. The opportunities of the teleprotection market are the launch of diverse new product requirements from the enterprises operating in military, aerospace & defense and information technology sectors and integration with intelligent and advanced communication technologies. There is a demand for teleprotected grids and utilities for employing 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 access the risk of failure and blackouts for both consumers and OEMs.
Competitive Insights
The market is fragmented owing to the presence of various players; key players dominate the market share owing to their capability to invest in continuous R&D. The major players discussed in the reports are Alstom, Alcatel-Lucent, GE, ABB, Cisco Systems, Schweitzer Engineering Laboratories, Siemens, Telco Systems. Innovation in product features through the addition of advanced and latest technologies helps vendors to differentiate in the market while gaining a competitive edge.
Key Topics Covered
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces 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
5.1. Introduction
5.2. Hardware
5.3. Software
6. Teleprotection Market Analysis, by End-User Industry
6.1. Introduction
6.2. Communication and Technology
6.3. Energy and Power
6.4. Oil and Gas
6.5. Aerospace and Defense
6.6. Others
7. Teleprotection Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East & Africa
7.6. Asia-Pacific
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. Alstom
9.3. Altalink
9.4. General Electric
9.5. Cisco Systems Inc.
9.6. Schweitzer Engineering Laboratories
9.7. Siemens
9.8. Telco Systems
For more information about this report visit https://www.researchandmarkets.com/r/wq0qp2
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