Dallas, TX -- (ReleaseWire) -- 01/30/2014 -- According to a new market research report, “Teleprotection Market - By Product Type (Teleprotection Units, Communication Network Technology, Software, Services), Components (IED, Interface Device, SCADA), Applications (Power, Telecom) and Geography - Analysis & Forecast (2013–2018)”, the teleprotection market is expected to grow at an estimated CAGR of 28.67% from 2013 to 2018 which includes in-depth segmentation of products, components and application and geography.
Browse 96 market data tables and 80 figures spread through 336 pages and in-depth TOC on “Teleprotection Market"
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Teleprotection market is in its early stage however contains a great potential across so many industry verticals such as power sector, telecom, oil & gas, transportation, information technology, aerospace & defense and so on. The increasing demand of energy saving and seamless transmission will boost the market in the days to come with the help of advanced communication and network technologies. The Diverse new product requirements in Military, Aerospace & Defense and information technology sectors and Integration with Intelligent and advanced communication technologies would be the captivating essentials for new entrants as well as winning opportunities for the established players.
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The teleprotection market is still in its growth stage and is witnessing an enormous patent filings and developments. All the big electronic and telecommunication companies are doing extensive research and development activities to get the first moveradvantage. Small companies in the ecosystem are doing aflourishing business to be in the market rivalry for the long term business. The teleprotection industry is witnessing a binge of new product developments, mergers & collaborations, expansions and other activities in research and development field.
ABB Ltd. (Switzerland) serves teleprotection ecosystem in various aspects and has the target market across various geographies. It is focusing on expansion in the U.S. market where many local players lead the teleprotection market.In 2010, it acquired “Ventxy”, a Smart Grid software firm in Atlanta (U.S.).In June 2012, the company acquired Tropos Networks Inc. (U.S.), a company that develops and markets wireless technologies and products for distribution area communication networks.In 2012, Ventyx joined forces with Mincom (Australia), aninnovative leader in Enterprise Asset Management (EAM) and Enterprise Resource Planning (ERP) software for mining, transportation and defense. Ultimately,the acquisitions made, was proved to bea golden revenue basket for ABB to achieve market leadership in the teleprotection ecosystem.
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Teleprotection industry is receiving interest, investments and the favorable government policies primarily in the developed economies. The BRIC powerhouses such as Brazil and India Are among which others not only have the potential but also have favorable policies. Conversely, there is a lack of proper funding options and venture capitalists which eventually slows down the overall growth of the market as compared to the developed economies.
The power industry is the biggest consumer of teleprotection products and services. The power sector players use teleprotection concept right from the phase comparison till substation automation process.It also uses protection concept to extend its corporate network, distributing generation, enabling grids, video surveillance and so on in the form of power generation, transmission and distribution. Apart from this, power application serves teleprotection for connecting substations, traffic dissection, video surveillance and so on, which induces a significant demand in the related fields.
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