New York, NY -- (SBWIRE) -- 08/28/2017 -- Teleprotection Market:
Teleprotection Market is projected to witness a compound annual growth rate of 21.47% to grow to US$22.651 billion by 2022, from US$8.565 billion in 2017. To prevent the system from failure or damage, teleprotection system selectively disconnects the faulty part by transmitting command signals within the shortest possible time. Teleprotection System is being increasingly used on account of advantages it offers such as increased stability, improved communication system, and high efficiency. Increasing demand for energy saving and uninterrupted transmission of power serves as a key factor for the market growth. Favorable government policies in the developed nations and increasing demand of teleported grid are some other factors boosting the demand of teleprotection market over the forecast period.
By End-User Industry
By end-user industry, communication and technology sector is expected to grow at a high rate. The developing telecom infrastructure, especially in fast-growing economies of China, Brazil, India, and South Korea among others, is expected to augment this segment's growth. Moreover, advancement in technologies and the need for energy efficient solutions for communication and technology sector is expected to boost the market growth in years ahead.
Geographically, Asia Pacific is expected to grow at the fastest rate over the projected period owing to the rising adoption of teleprotection systems from power and telecommunication sector. Moreover, regional governments focus towards 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.
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The global Teleprotection market comprises of a large number of vendors, but the major ones dominate this market owing to their capability to invest in R&D. Industry integration is the key strategy adopted by players in order to be ahead of the competition. The major players discussed in the reports are Alstom, Alcatel-Lucent, GE, ABB, Cisco Systems, Schweitzer Engineering Laboratories, Siemens, Telco systems, and DNV GL.
Teleprotection market has been segmented by product, End-User Industry, and geography.
By End-User Industry
Communication and Technology
Energy and Power
Oil and Gas
Aerospace and Defense
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Europe Middle East and Africa
Middle East and Africa
Table of Contents
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Teleprotection Market Forecast by Product (US$ billion)
6. Global Teleprotection Market Forecast by End–User Industry (US$ billion)
7. Global Teleprotection Market Forecast by Geography (US$ billion)
8. Competitive Intelligence
9. Company Profiles
List of Tables
List of Figures
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