2014-03-31 05:35:01 - Teleprotection Market: Analysis & Forecast 2013-2018 - a new market research report on companiesandmarkets.com
The teleprotection market is currently in its initiation phase and is expected to transition to the growth phase scaling billions of revenues in the years to come. The total market value of teleprotection market was $2.30 billion in 2012, which is likely to increase till $9.31 billion in 2018 with an estimated CAGR of 28.67%. The influence of product marketers to provide multifunctional solutions that comply with strict communication protocols drove the market to the upper limits of the overall ecosystem. Teleprotection software, service and communication network technology market are also going to do an excellent business across the forecast period.
The key drivers of the teleprotection ecosystem are: Aging grid infrastructure in power industry, the influence of product
marketers to provide multifunctional solutions that comply with strict communication protocols, Reduction in transmission and distribution loss, Mass-Revenue Contribution Sectors such as Aerospace &Defense to take the lead from Applications in the years to come, Huge rise in demand levels expected from diverse fields in power and telecom and huge demand of uninterrupted power supply from developing countries.Teleprotection, in spite of being a must use case with its exceptional demand, still has some restraints for its market´s growth.
The key market restraints can be classified as; High Cost Factor, High Level of Expenditure, Investments to deploy the system, Lack of interoperability standards and protocols to use and install the teleprotection systems and differences between electricity regulations across the geographies.The opportunities of teleprotection ecosystem can be classified as: Diverse new product requirements in Military, Aerospace & Defense and information technology sectors and Integration with Intelligent and advanced communication technologies.
The competitive landscape of the market presents a very interesting picture, where large number of small players has become a force to reckon with. The market is witnessing large scale collaboration and partnership across the value chain with number of tier-one players around the globe.
Major players in this market include ABB Ltd. (Switzerland), Alcatel Lucent S.A. (France), Alstom S.A. (France), Cisco Systems (U.S.), DNV Kema (The Netherlands), GE Energy (U.S.), Nokia (Finland), Telco systems (U.S.), Siemens AG (Germany), Schweitzer Engineering Laboratories, Inc. (U.S.) and so on.
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