GCC Protective Relay Market Is Expected To Reach USD 377.4 Million By 2024: Grand View Research, Inc.

The GCC protective relay market is expected to reach USD 377.4 million by 2024, according to a new report by Grand View Research, Inc. Escalating investments in the transmission & distribution infrastructure to substitute the aging equipment is a key factor instigating the protective relay demand in the power systems. The increasing complexity of electrical circuits has made it unavoidable to use protective devices for the safe & secure operation. The increasing electricity generation capacity to fulfill the growing population’s electricity needs is anticipated to remain as a chief factor driving the market growth. However, the cost associated with the installation & maintenance of protective relays is projected to challenge the market over the forecast period.
The GCC protective relay market is expected to gain prominence over the forecast period owing to the population growth coupled with the increasing domestic power consumption in Saudi Arabia. Furthermore, upcoming events, such as 2022 FIFA World Cup, would further lead to increased investments in the infrastructure development, thereby spurring the electricity demand in GCC. This would subsequently elevate the need for protective relays to safeguard the power systems in this region.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/gcc-protective-relay-market

Further key findings from the report suggest:

·         The medium voltage segment accounted for over 35% of the overall revenue in 2015 and is expected to witness a rapid growth at a CAGR of over 6.3% from 2016 to 2024. This is due to their usage in the protection of buildings such as houses, hospitals, shopping malls, and warehouses, which supply medium voltage power.

·         The growth in the feeder protection application segment can be primarily attributed to the surging need to protect overhead cables and lines utilized for the electricity transmission. The segment is estimated to witness a growth exceeding the CAGR of 5.5% from 2016 to 2024.

·         The power sector is projected to witness a significant growth over the forecast period owing to the integration of relays to ensure safety and security of equipment and personnel at the power stations. The segment captured a sizeable market share in 2015 accounting for over 40% of the overall revenue share in the same year.

·         Saudi Arabia accounted for more than 40% of the overall share in 2015. However, UAE is estimated to exhibit the high growth over the next few years owing to the surging industrial, infrastructure, and power projects in this country.

·         The key market participants include Siemens, ABB, GE-Alstom, and Schneider. Industry participants strive to undertake product differentiation and technological advancements so as to gain a competitive edge in the market.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-devices

Grand View Research has segmented the GCC protective relay market on the basis of voltage, application, end-use, and region:
GCC Protective Relay Voltage Outlook (Revenue, USD Million; 2010 - 2024)

·         Low

·         Medium

·         High

GCC Protective Relay Application Outlook (Revenue, USD Million; 2010 - 2024)

·         Feeder Protection

·         Generator Protection

·         Bus-Bar Protection

·         Capacitor Bank Protection

·         Breaker Protection

·         Transformer Protection

·         Others

GCC Protective Relay End-Use Outlook (Revenue, USD Million; 2010 - 2024)

·         Infrastructure

·         Industrial

·         Government

·         Power

·         Others

GCC Protective Relay Regional Outlook (Revenue, USD Million; 2010 - 2024)

·         Saudi Arabia

·         UAE

·         Bahrain

·         Kuwait

·         Qatar

·         Oman

For press release of this report - http://www.grandviewresearch.com/press-release/global-gcc-protective-relay-market

Physical Security Market To Witness Swift Growth Owing To Enhanced Usage In Infrastructure Development Projects Worldwide Till 2020

The global physical security system market was valued at USD 51.94 billion in 2013. Rising security concerns and increasing budget allotment for physical security are expected to drive the market in the coming years. Technological advancement along with cost-effective security systems is projected to boost the demand for physical security over the forecasted period. The industry is likely to reach a value of USD 110.09 billion by 2020, growing at a CAGR of 11.3% from 2014 to 2020.
The physical security market is witnessing technological innovation from analog to incorporated IP networked system. These technological shifts include disseminated public address environment integrated with smart devices, ubiquitous sensors, video displays, video analytics and power access system. Rising security concerns from hardware, personnel, network and information infrastructure will also positively impact the market demand shortly.
The increasing adoption of innovative technologies such as cloud, intelligent and analytics-based security systems is anticipated to enhance the safety process across several industry verticals. Rising investment in hybrid solutions for real-time monitoring is expected to bolster growth over the forecast period.
Increasing migration towards Cloud-based security systems is an upcoming trend and is expected to witness significant growth in the coming years owing to cost-effective expenditure and lower false alarms response. The cloud-based security system comprises of various services such as IoT (Internet of things), the third-party safety, electronic security and mobile internet security practices.
Hardware components accounted for 75.4% of the overall market share in 2013 and is likely to witness growth at 11.5% CAGR by 2020. Hardware includes biometrics, RFID, video surveillance and card-based access. Rising terrorist attacks coupled with damages of the necessary infrastructure is likely to drive the segment over the forecasted period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/physical-security-market
Further key findings from the study suggest:

·         Transportation was the largest application segment valued at USD 10.77 billion in 2013. Rising expenditure on infrastructure development and efficient transport system are the key reasons for growth. Although the segment is likely to lose its market share to other applications, it is expected to remain as the dominating segment by 2020 accounting for 20.1% of the overall industry.

·         Utilization of physical security in government-related applications is projected to witness a substantial growth at 12.7% CAGR from 2014 to 2020. Increasing safety measures across numerous domains of the government to protect classified information is expected to drive growth. BFSI solutions are delivering to data centers, corporate buildings, ATMs, data centers and cash depots. Technological advancement in IT, as well as rising smart-security demand, has widened the growth prospects of system security practices.

·         North America market accounted for 35.0% of the overall market in 2013 and is expected to grow in the near future owing to rising technological shift towards physical security system, supportive government regulations and growing demand from high-growth business verticals in the region. North America market is expected to reach USD 35.17 billion by 2020, growing at a CAGR exceeding 9.5% from 2014 to 2020.

·         Asia Pacific market is anticipated to witness significant growth on account of increasing demand for physical security system due to rising criminal activities. Asia Pacific market is estimated to reach USD 39.07 billion, growing at a CAGR of 13.6% by 2020. Rapid improvement of the mobile banking, ATMs, online payments and mobile payments has increased the concern level for user information administration.

·         Major industry players include Genetec Inc., Axis Communication AB, Honeywell Security Group, Morpho SA, Cisco Systems Inc and Bosch Security Systems Inc. The competitive growth strategy for the participants comprises of geographical expansion and customized network-based technologies.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-security-systems-and-devices            

Grand View Research has segmented the global physical security market on the basis of component, application and region:
Physical Security Component Outlook (Revenue, USD Billion, 2012 - 2020)
    • Hardware
            • Intrusion Detection & Prevention
            • Access Control
            • Others
    • Software
            • PSIM
            • Management & modeling software
    • Services
Physical Security Application Outlook (Revenue, USD Billion, 2012 - 2020)
    • Transportation
    • Government
    • Corporate
    • Hospitality
    • Energy
    • Retail
    • Industrial
    • Control Centers
    • Chemical Facilities
    • Others
Physical Security Regional Outlook (Revenue, USD Billion, 2012 - 2020)
    • North America
    • Europe
    • Asia Pacific
    • RoW

For free press release of this report - http://www.grandviewresearch.com/press-release/global-physical-security-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Protective Relay Market To Exhibit Growth At 5.% CAGR For Medium Voltage Segment Till 2024: Grand View Research, Inc.

The protective relay market is expected to reach USD 4,025.2 million by 2024, according to a new report by Grand View Research, Inc. Mounting investments in the transmission & distribution networks to replace the old equipment is expected to be a major factor expected to spur the growth over the forecast period. The intensifying intricacy of electrical systems has made it inevitable to incorporate protective devices for power systems safety. The growing electricity generation capacity to meet the growing population’s electricity demand is estimated to act as a key driver augmenting market demand. Nevertheless, the cost concomitant with the set up & maintenance of these relays is estimated to challenge the industry over the near future.
The global protective relay market is anticipated to witness high growth over the forecast period. This may be accredited to continuous population growth along with the mounting regional power consumption in Asia Pacific. The rising importance of smart grid technology coupled with upsurge in renewable energy projects is expected to further catapult protective relay demand over the next eight years. For instance, after the earthquake and tsunami in 2011, in Japan, the government decided to reduce the energy supply gap by augmenting renewable energy generation.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/protective-relay-market

Further key findings from the report suggest:

·         The medium voltage segment captured over 40% of the total revenue in 2015 and is projected to exhibit a significant growth at a CAGR of over 5% from 2016 to 2024. This can be attributed to their extensive usage in the fortification of structures such as houses, shopping center, hospitals, and warehouses, which require medium voltage power.

·         Feeder protection application segment is expected to gain prominence over the forecast period exceeding a CAGR of 6.0% from 2016 to 2024. This is primarily due to the criticality of the transmission & distribution networks to safeguard the overhead cables required for the electricity transmission

·         Assimilation of protective relays in huge power systems and substations to ensure security & operational safety of the equipment is projected to drive the demand across the power sector over the next few years. The power segment accounted for a significant market share in 2015 capturing over 30% of the entire revenue share in the same year.

·         Asia Pacific emerged as the largest and the fastest growing market accounting for more than 30% of the overall share in 2015. Increasing investments in transmission & distribution infrastructure in China & India is expected to spur the protective relay demand in this region.

·         The key purveyors in this industry comprise Siemens, GE-Alstom, ABB, and Schneider. International players hold a strong foothold in the market making it difficult for the local suppliers to compete.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/electronic-devices

Grand View Research has segmented the global protective relay market on the basis of voltage, application, end-use, and region:
Protective Relay Voltage Outlook (Revenue, USD Million; 2014 - 2024)

·         Low

·         Medium

·         High

Protective Relay Application Outlook (Revenue, USD Million; 2014 - 2024)

·         Feeder Protection

·         Generator Protection

·         Bus-Bar Protection

·         Capacitor Bank Protection

·         Breaker Protection

·         Transformer Protection

·         Others

Protective Relay End-Use Outlook (Revenue, USD Million; 2014 - 2024)

·         Infrastructure

·         Industrial

·         Government

·         Power

·         Others

Protective Relay Regional Outlook (Revenue, USD Million; 2014 - 2024)

·         North America

o    U.S.

o    Canada

·         Europe

o    U.K

o    Germany

·         Asia Pacific

o    China

o    India

o    Japan

·         Latin America

o    Brazil

o    Mexico

·         Middle East & Africa

o    Saudi Arabia

o    Kuwait

o    UAE

o    Bahrain

o    Oman

o    Qatar

For press release of this report - http://www.grandviewresearch.com/press-release/global-protective-relay-market