The report forecasts the global protective relay market to grow at a CAGR of 10.45% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
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.
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/wl782g/global_protective
Related Topics: Electrical Engineering
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-protective-relay-market-to-grow-1045-by-2020---emerging-market-for-solid-state-devices---research-and-markets-300317704.html
SOURCE Research and Markets