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Global Teleprotection Market Expected to Reach 940 million USD by 2021

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Global Teleprotection Market Expected to Reach 940 million USD by 2021

December 04
17:52 2018

Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on the gamut of sectors across the globe.
The report on “ Global Teleprotection Market ” helps you to understand the market size, share, growth, trends, major companies performance data and market opportunities.

Global Teleprotection Market Overview:

To prevent the system from failure or damage, teleprotection system selectively disconnects the faulty part by transmitting command signals within the shortest possible time availing the advantages such as increased stability, improved communication system, and high efficiency. The market has been growing since the increasing demand for energy saving with some favourable government policies and uninterrupted transmission of power.

What is the Size of Global Teleprotection Market?

Teleprotection market is in its early stages of development, containing a great potential across so many industries such as power sector, telecom, oil & gas, transportation, information technology, aerospace & defence and so on. Geographically, Asia Pacific is expected to grow at the fastest rate over the projected period owing to the rise in adoption of these systems in power and telecommunication size to maintain the average annual growth rate of 14.47% from 260 million $ in 2013 to 390 million $ in 2016, Research cosmos believe that in the next few years, Teleprotection market size will be further expanded, we expect that by 2021.The market size of the Teleprotection will reach 940 million $.

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The irregular unbalanced distribution of electricity causes fluctuations in voltage levels resulting in power outage and system damage. An uninterrupted power supply or accurate distribution of electricity should be maintained to ensure the effective working of systems. This can be done by balancing and controlling the electricity flow by using teleprotection equipment. Teleprotection equipment stabilizes the flow by identifying and isolating the faults in medium, low, and high-voltage grids.

Various end user industries such as power, telecom, aerospace and defence, and oil and gas rely on teleprotection equipment to obtain a stable and even flow of electricity, propelling the growth of the industry. This sector focuses on monitoring and managing aerospace activities, which requires an uninterrupted supply of balanced power. Vendors are also developing related systems with better efficiency by modifying the existing teleprotection systems. With the increasing number of new players, the level of competition in this market space will be intensified further.

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Global Teleprotection Market Geographical Analysis:

Marketplace has been divided into the regions of Americas, APAC, and EMEA, based on the geography. The Americas is witnessing a high demand for these systems from various end-user industries such as power and telecommunication sectors. The efficiency of T&D in the power sector is reduced due to the aging of grid infrastructure and the need to deliver power over long distances. This will encourage manufacturers to increase investments towards the improvement of T&D infrastructure by using teleprotection systems, driving market growth. Additionally, the emergence of 4G technology in the telecommunication sector will fuel the demand for high-voltage power supply, which will also push the growth of the market.

Key Players in this Global Teleprotection Market are:

ABB Ltd, Alcatel Lucent S.A, Alstom S.A., Cisco Systems, DNV Kema, GE Energy, Nokia, Telco systems, Siemens AG, Schweitzer Engineering Laboratories, Inc and so on.

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