Teleprotection Market Size, Share, Opportunities, And Trend By Offering (Hardware, Software), By End-User Industry (Communication And Technology, Energy And Power, Oil And Gas, Aerospace And Defense, Others), And By Geography - Forecasts From 2024 To 2029

The teleprotection market is expected to grow at a CAGR of 14.08%, reaching a market size of US$52.035 billion in 2029 from US$20.416 billion in 2024.

A teleprotection system constantly monitors the conditions of power lines, coordinating fast trips to disconnect the faulty ones. By doing this, the systems can automatically and remotely disconnect only the damaged section, avoiding more expensive failures that may require repairs or new materials. This is due to enhanced communication systems and protocols, decreasing wasted energy on obsolete energy networks and distribution systems. Aerospace and defence industries hold great promise of being big businesses in this way.

This is due to the demand for these systems being on the rise; more developed means of communicating that use less energy are desired on distribution networks that have lasted long enough, so they all have become old and unstable. Because of the benevolent regulations governments of developed countries such as the USA and European nations have implemented, there has been a growing need for teleprotection technologies.

Teleprotection Market Drivers:

• Increase in grid modernization initiatives

Initiatives to modernize power grids are driving market expansion because it is necessary to improve grid resilience to different types of shocks and to increase grid efficiency and dependability. These initiatives rely heavily on teleprotection systems to meet the critical need for secure and seamless communication within the grid infrastructure. Teleprotection systems are important in this project because they provide security and uninterrupted communication in the grid structure, which is an urgent requirement. Currently, the teleprotection systems facilitate the quick and fail-safe transmission of information between the centrifugal control centers and their respective substations as they modernize the grid. It also monitors the position such that, through rapid anomaly detection, one can always maintain the required supplies through wind or solar energy-based renewables.

• Rising importance of cybersecurity

The driving force behind the teleprotection market’s growth is primarily the demand for cyber security, which is growing due to increased digitization and critical infrastructure. Power grids, transport networks, and other vital systems are now more vulnerable to cyber threats or attacks as they become too interconnected and dependent on digital technologies. Teleprotection systems are designed for secure and encrypted communication channels located within different power station levels. These platforms establish confidentiality barriers that protect against unauthorized access to sensitive information transferred across substations and interviews with control centers. At a time when cyber-attacks can completely put down essential services while jeopardizing public safety, teleprotection technology acts as a shield from the barbarians outside their gates.

• Increasing use of renewable energy

Such factors as integrating renewable energy sources, such as wind or solar power, into power distribution networks stimulate the market for tele-protection. Proper electric grid management is vital as the planet shifts towards more eco-friendly systems and renewable energy sources take root. Weather factors can determine the amount of energy produced from renewable sources because they are irregular. For this reason, teleprotection systems are important since they enable instant communication and control between control rooms/substations. Such systems allow grid operators to keep their grids stable and reliable despite intermittent power sources by monitoring and controlling the flow of renewable energies. By swiftly identifying faults or disturbances, teleprotection prevents outages and averts succession failures in electrical networks.

• High demand from the communication and technology industry

The communication and technology sectors are expected to witness a high demand for teleprotection solutions. The emerging economies are developing telecom infrastructure, especially in countries like China, Brazil, India, and South Korea, among others, and are boosting the adoption of teleprotection, thereby contributing to market growth. Teleprotection systems offer advantages like increased stability, improved communication systems, and high efficiency. Advancing technologies and the need for energy-efficient solutions for the communication and technology sectors are expected to boost market growth in the years ahead.

Teleprotection Market Restraints:

• High costs

A collision-avoiding system will mostly hinder its dissemination because it’s quite expensive, especially in countries where price is a determining factor. There are numerous advantages concerning safety, like reduced accident rates or savings on insurance premiums, which, however, come at a high cost to some manufacturers and consumers. This involves buying and installing requisite hardware and software alongside expected maintenance and calibration throughout the vehicle’s life span.

Teleprotection Market Geographical Outlook

• North America is witnessing exponential growth during the forecast period

North America is a developed market with many well-established competitors and cutting-edge teleprotection systems. A strong emphasis on smart grid initiatives, grid modernization, and strict grid reliability regulations distinguishes the area. The two principal nations shaping the teleprotection industry in North America are the United States and Canada. In addition, Europe is another major hub for teleprotection due to the increasing funding for smart grid operations and the need for secure and reliable electric current transfer.

Teleprotection Market Key Launches

• In February 2024, GE Vernova's Grid Solutions division has announced the launch of GridBeats, a complete package of software-defined automation solutions that aim to enhance grid resilience and facilitate the digital transformation of the grid. Worldwide, operators are under pressure from customers, regulations, and societies to reach net-zero emission goals while reinforcing their sustainability pledges in light of current climate worries. Several factors hinder progress towards these achievements like insufficient control instruments, absence of fast, reliable and predictable communication as well as limited insight into the existing decrepit frameworks.
• In December 2023, Siemens AG broadened its Building X fire safety portfolio. This expansion includes new applications and the launch of an application programming interface. Aiming to improve the existing services, the new features will help reduce response time during emergencies, make maintenance easier, and enhance transparency. So, with these software updates and APIs, Siemens AG desires to provide complete and efficient fire prevention strategies that consider different customer needs, leading to safer and quieter buildings.
• In November 2023, Schweitzer Engineering Laboratories Inc. (SEL) launched the SEL-2731 Ethernet Switch as part of its expanding networking portfolio. This switch is designed specifically for power and energy industry communications. This new build strengthens SEL’s ability to provide this essential communication service. As a result, the SEL-2731 Ethernet Switch is expected to be a significant factor in maintaining reliable and secure communications within critical infrastructure, further solidifying SEL’s position as the leading provider of innovative networking solutions used in important applications.

The Teleprotection market is segmented and analyzed as follows:

• By Offering
  • Hardware
  • Software
• By End-User Industry
  • Communication and Technology
  • Energy and Power
  • Oil and Gas
  • Aerospace and Defense
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO Perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s 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

4.5. Analyst View

5. TELEPROTECTION MARKET BY OFFERING

5.1. Introduction

5.2. Hardware

5.3. Software

6. TELEPROTECTION MARKET 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 Defence

6.6. Others

7. TELEPROTECTION MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Offering

7.2.2. By End-User Industry

7.2.3. By Country

7.2.3.1. USA

7.2.3.2. Canada

7.2.3.3. Mexico

7.3. South America

7.3.1. By Offering

7.3.2. By End-User Industry

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.2. Argentina

7.3.3.3. Others

7.4. Europe

7.4.1. By Offering

7.4.2. By End-User Industry

7.4.3. By Country

7.4.3.1. Germany

7.4.3.2. France

7.4.3.3. UK

7.4.3.4. Spain

7.4.3.5. Others

7.5. Middle East and Africa

7.5.1. By Offering

7.5.2. By End-User Industry

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.2. UAE

7.5.3.3. Others

7.6. Asia Pacific

7.6.1. By Offering

7.6.2. By End-User Industry

7.6.3. By Country

7.6.3.1. China

7.6.3.2. Japan

7.6.3.3. South Korea

7.6.3.4. India

7.6.3.5. Indonesia

7.6.3.6. Taiwan

7.6.3.7. Thailand

7.6.3.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. ABB Ltd

9.2. General Electric Company

9.3. Schweitzer Engineering Laboratories

9.4. Siemens

9.5. Israeli BATM group (Telco Systems)

9.6. Inmarsat (TC Communications, Inc.)

9.7. Ubiik (Mimomax Wireless Limited)

9.8. TTC MARCONI s.r.o

9.9. Dewar Electronics Pty Ltd.

ABB Ltd

General Electric Company

Schweitzer Engineering Laboratories

Siemens

Israeli BATM group (Telco Systems)

Inmarsat (TC Communications, Inc.)

Ubiik (Mimomax Wireless Limited)

TTC MARCONI s.r.o

Dewar Electronics Pty Ltd.