Protective Relay Market Trends, Growth, Analysis and Research Report 2016

Technavio Announces the Publication of its Research Report – Global Protective Relay Market 2016-2020

Technavio recognizes the following companies as the key players in the global protective relay market: ABB, Alstom, GE, SEL, and Siemens.

Other Prominent Vendors in the market are: Littelfuse, Mitsubishi Electric, NR Electric, Honeywell International, Itron, Rockwell Automation, and S&C Electric.

Commenting on the report, an analyst from Technavio’s team said: “One of the key trends will be the emerging markets for solid-state devices. Solid-state devices are increasingly becoming an alternative to mechanical relays. The mechanical relay has two conducting elements that control the flow of electricity. When these two conducting elements come in contact with each other, they create a path for the flow of electricity. A break in contact between the two elements results in the disruption of the electricity flow.”

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According to the report, one of the key drivers for market growth will be modernization of substations. The growing need for energy is necessitating the modernization of technology to ensure that the supply and consumption of power is efficient. A smart grid is one such device that helps achieve this by offering a data communications network that is well integrated into the power grid for smooth operation. It is designed to collect and analyze data regarding the generation, transmission, distribution, and consumption of power, all in real time. The information provided by smart grids is predictive in nature, and it recommends utilities and technologies and information to their suppliers and their customers on the best practices to manage power efficiently.
Further, the report states that minimal product differentiation will be a major challenge for the market. The market has very little product differentiation. The functioning...