Teleprotection market is an emerging technology and shows a broad potential across diverse industry verticals such as oil & gas, telecom, power, aerospace & defense, transportation, and information technology(IT). Teleprotection systems prevent damage and failure of systems due to automatic disconnection of faulty parts remotely. The technology has achieved significant acceptance in utility and telecom sector. The increasing demand for seamless transmission and energy saving will boost the teleprotection demand in future with the aid of network technologies and advanced communication. Several innovative product requirements in aerospace & defense, military, and IT sectors and combination of advanced and intelligent communication technologies fueling the demand for teleprotection products in future.
The teleprotection market includes teleprotection unit, tele control software, and services. Teleprotection unit sector includes optical interface equipment, data terminal equipment (DTE), directional electrical interface equipment, data circuit-terminating equipment (DCE), and others. The teleprotection software includes network management system software, synchro phasors software, and others.
The key drivers of the teleprotection systems are the development of multifunctional solutions which comply with various communication protocols, aging grid infrastructure in power industry. Also, decrease in transmission & distribution loss, increasing demand from aerospace & defense sector, and rising demand for uninterrupted power supply from various regions.
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High level of expenditure, huge capital investments to implement the system, need of interoperability protocols and standards to install and use the tele control systems and variations between power regulations in various the geographies are the factors hampering the growth of global teleprotection market. Advance product requirements in aerospace & defense, military, and IT sectors and combination of intelligent and advanced communication technologies act as opportunities for teleprotection market in the near future.
The global teleprotection market report has been segmented on the basis of type, application, and region. On the basis of region, the global teleprotection market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Favorable government laws and policies in developed nations such as the U.S, Germany, and the UK have driven the demand for teleprotection market. Regions such as the Asia Pacific and Latin America are anticipated to show increasing teleprotection market demand in future.
Key players operational in the global market include ABB Ltd, ltalink, Amperion, Inc., Conolog Corporation, General Electric, Itron, Nokia, PLC Power, Rad Data Communications Ltd, and Schneider Electric.