Teleprotection Market - By Technology (Traditional Teleprotection, Modern Teleprotection), By Component, By Communication (Wired Teleprotection, Wireless Teleprotection), By Application, By Industry Vertical & Forecast, 2024 – 2032

Teleprotection Market Size

Teleprotection Market was valued at over USD 22.3 billion in 2023 and is anticipated to grow at a CAGR of over 20.5% between 2024 and 2032. The growing shift toward digital communication technologies such as Ethernet, fiber optics, and wireless communication for teleprotection systems demands higher bandwidth, lower latency, and greater reliability compared to traditional analog communication methods, thereby enabling faster & more secure transmission of critical protection signals.
 

For instance, in November 2023, Schweitzer Engineering Laboratories Inc. (SEL) announced an expansion of its networking portfolio with the introduction of the SEL-2731 Ethernet switch. This new addition to SEL's offerings enhances its capabilities in providing critical communication solutions for industries such as power and energy. The SEL-2731 Ethernet switch is expected to play a vital role in ensuring reliable & secure communication within critical infrastructure.
 

Renewable energy is being interconnected with electric power systems at increasing rates and now makes up more than 20% of the annual electricity produced in the U.S. In pursuit of grid modernization, organizations and the government are developing a system aimed at providing protection to the grids, ensuring proper transmission. For instance, NREL develops and evaluates technologies and systems that enable electric grids to function more efficiently, integrate more renewable energy, and be more resilient & secure under all operating conditions.
 

Teleprotection systems are prone to cybersecurity threats such as hacking, malware, and denial-of-service attacks. Securing robust communication networks and teleprotection devices against various cyber threats is crucial to prevent unauthorized access, data breaches, and disruptions to critical infrastructure. Utilities and grid operators must implement firm & well framed cybersecurity measures, including encryption, access controls, and network monitoring, to mitigate these risks.
 

Teleprotection Market Trends

As power systems become more interconnected and automated with the adoption of smart grid technologies, the importance of grid security grows. Teleprotection solutions enable secure communication and control of smart grid devices, sensors, and control systems, facilitating the reliable & efficient operation of the grid. For instance, in February 2024, GE Vernova’s Grid Solutions announced the launch of GridBeats, a comprehensive portfolio of software-defined automation solutions aimed at streamlining grid digitalization and enhancing grid resilience. Amidst growing concerns about extreme climate events, grid operators worldwide are responding to regulatory and consumer demands to achieve net-zero emissions while also addressing sustainability needs. Realizing these goals presents significant challenges such as limited visibility into an aging infrastructure, inadequate control mechanisms, and a lack of fast, reliable & deterministic communication. GridBeats aims to modernize grid operations, boost performance, and speed up the shift toward sustainable energy. It improves visibility across the grid, from larger areas down to specific equipment.
 

As the demand for advanced time synchronization solutions rises to meet the stringent requirements of teleprotection applications, the need for accurate & reliable time synchronization continues to increase as teleprotection systems evolve and expand. For instance, in July 2023, Valiant Communications introduced the VCL-3086, IRIG-B to NTP Time Server, which is designed to provide an NTP time source that is locked to a IRIG-B input reference to provide NTP/SNTP time synchronization to private networks such as railways and metro (ticketing and platform) networks, airports & air-traffic control facilities, electric sub-stations, power distribution & transmission companies, oil & gas utilities, and campus networks that should maintain complete isolation from public networks for security.
 

Teleprotection Market Analysis

Based on technology, the market is segmented into traditional teleprotection, and modern teleprotection. The modern teleprotection segment is the fastest growing and is anticipated to expand at a CAGR of over 20% between 2024 and 2032.
 

• The growing adoption of digital communication technologies and the increasing demand for advanced teleprotection solutions in modern power systems are gaining traction. Utilities, grid operators, and industrial facilities are recognizing the benefits of modern teleprotection systems in enhancing grid reliability, efficiency, and security. These systems play a crucial role in ensuring the stable & secure operation of electrical power infrastructure, particularly in the face of growing complexity, interconnectivity, and cybersecurity threats. For instance, in February 2024, Siemens announced the launch of Gridscale X, paving the way toward the vision of autonomous grid management, accelerating digital transformation for grid operators at speed and scale. With Gridscale X, Siemens provides modular software to support utilities to tackle their most pressing challenges related to energy transition. Gridscale X enables rapid scaling of grid capacity and effectively manages the complexity of Distributed Energy Resources (DERs), thereby enhancing grid flexibility. Its software is easy to deploy and integrates quickly into existing IT and OT landscapes. This represents a new era of grid management and adds increased value to new & existing customers through planning, operations, and maintenance.

Based on industry vertical, the market is divided into power utilities, oil & gas, transportation, and industrial. The power utilities segment dominated the market with a share of over 40% in 2023.
 

• As utilities continue to adopt power grid modernization, the reliability and security introduced by LTE wireless will extend from power distribution to the last mile of the power delivery infrastructure. With the growing demand for teleprotection enhanced by wireless networks, teleprotection monitors become essential for the continuous monitoring of the grid condition, isolating faults, and preventing damage to critical parts of the power grid, for which rapid response is critical. The right combination of wireless 4G/5G low-latency solutions can extend the reach of teleprotection beyond the local substation to more central locations. The use of Artificial Intelligence/Machine Learning (AI/ML) will allow for proactive fault isolation. The development of the device ecosystem for wireless technologies such as 5G NR will open further advances such as remote control of the mission-critical switching infrastructure.

The teleprotection market in Asia Pacific is experiencing a robust expansion, with a projected compound annual growth rate (CAGR) surpassing 21% from 2024 to 2032. This increment is propelled by advancements in telecommunication technologies, the increasing interconnectedness of power grids, and the growing emphasis on grid reliability & security across the region. Countries such as China, Japan, and South Korea are at the forefront of this growth, leveraging their technological expertise, extensive infrastructure development, and commitment to modernizing their power systems. Advancements in telecommunication technologies, including digital communication protocols, fiber optics, and wireless networks, are driving the development of more advanced & efficient teleprotection solutions. These solutions enable utilities and grid operators to rapidly detect and isolate faults, optimize grid performance, and ensure reliable power transmission & distribution.
 

Teleprotection Market Share

ABB Ltd. and Schneider Electric held over 20% of the market share in 2023. ABB Ltd. is a multinational corporation headquartered in Switzerland, with a significant presence in the teleprotection industry. ABB is a leading provider of power and automation technologies, offering a wide range of products and solutions for utilities, industries, and infrastructure sectors worldwide.
 

Schneider Electric is a prominent player in the market, offering a range of solutions aimed at enhancing the reliability, efficiency, and security of power transmission and distribution networks. As a global leader in energy management and automation, Schneider Electric provides innovative teleprotection technologies tailored to the evolving needs of utilities, grid operators, and industrial customers worldwide.
 

Teleprotection Market Companies

Major players operating in the market are:

• ABB Ltd.
• Schneider Electric
• ALE International, ALE USA Inc.
• Cisco Systems, Inc.
• Eaton
• Huawei Technologies Co., Ltd.
• Siemens
   

Teleprotection Industry News

• In December 2020, Selta Spa and Barese Telesecurity renewed their market collaboration, strengthening their partnership in the realm of cybersecurity and telecommunications solutions. This renewed collaboration reflects the commitment of both companies to provide advanced cybersecurity and telecommunication services to their clients. By combining their expertise and resources, Selta Spa and Barese Telesecurity aim to address the evolving cybersecurity challenges and deliver cutting-edge solutions that enhance the security and resilience of critical infrastructure and communication networks.
   
• In August 2023, Siemens launched a new generation of line monitoring relays. The SIRIUS 3UG5 line monitoring relays combine proven technology with new functions and applications. The relays are the easiest way to monitor standards-compliant grid stability and quality, ensuring proper system operation and a long service life of components such as motors or compressors. Grid monitoring relays are used in critical areas such as hospitals or the process industry, which require a high-quality & fail-safe supply of power. Other applications include cranes, elevators, air, and air-conditioning compressors, as well as the timber industry.

The teleprotection market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2024 to 2032, for the following segments:

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Market, By Technology

• Traditional teleprotection
• Modern teleprotection

Market, By Component

• Protection relays
• Trip circuits and circuit breakers
• Test and monitoring equipment
• Supervisory Control and Data Acquisition (SCADA)
• Backup and redundancy systems

Market, By Communication Type

• Wired teleprotection
• Wireless teleprotection

Market, By Application

• Consumer electronics
• Transmission lines
• Distribution networks
• Traffic management
• Water and wastewater treatment
• Others

Market, By Industry Vertical

• Traditional teleprotection
• Power utilities
• Oil & gas
• Transportation
• Industrial

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA