Home > Semiconductors & Electronics > Telecom and Networking > Telecom Software > Teleprotection Market

Teleprotection Market Share

Report ID: GMI9478
Published Date: May 2024
Report Format: PDF

Download Free Sample

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

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for teleprotection exceeded USD 22.3 billion in 2023 and is projected to expand at over 20.5% CAGR from 2024 to 2032, due to the growing shift toward digital communication technologies such as Ethernet, fiber optics, and wireless communication.

The modern technology segment in the teleprotection industry is projected to grow at over 20% CAGR between 2024 and 2032, owing to the growing adoption of digital communication technologies and the increasing demand for advanced teleprotection solutions in modern power systems.

The power utilities industry vertical segment in the teleprotection industry accounted for over 40% share in 2023 and is estimated to witness substantial gains between 2024 and 2032, on account of the surging demand for continuous monitoring of the grid condition, isolating faults, and preventing damage to critical parts of the power grid.

Asia Pacific industry is anticipated to expand at over 21% CAGR between 2024 and 2032, driven by advancements in telecommunication technologies, the increasing interconnectedness of power grids, and the growing emphasis on grid reliability & security across the region.