About Digital Fault Recorder
A digital fault recorder (DFR) is an intelligent electronic device that monitors and assesses the low, medium and high-voltage networks in transformer sub-stations and power plants. It monitors and records any disturbance that may happen on the grid. DFR monitors processes and events such as short circuits, critical load cases, breaking operations of the transformer and power fluctuations that may happen on the line. It has numerous benefits such as a permanent detailed record of all substation activity at a fraction of the cost, provides secure data collection while also isolating the IED network, permits recording of internal protection relay operands and calculations in Sequence of Events (SOE) and Fault records and meets requirements of international Fault Recording standards.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.21% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Digital Fault Recorder market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ducati Energia SpA (Italy), ABB (Switzerland), AMETEK, Inc. (United States), GE (United States), Siemens AG (Germany), Ducati Energia (Italy), Elspec Engineering Ltd. (Israel) and ERLPhase Power Technologies Ltd. (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Macher Distribution Ltd (United Kingdom), KoCoS Messtechnik AG (Germany), Kinkei System Corporation (Japan), Prosoft Systems (Russia) and Qualitrol (United States).
Segmentation Overview
AMA Research has segmented the market of Global Digital Fault Recorder market by Type (Dedicated and Multifunctional) and Region.
On the basis of geography, the market of Digital Fault Recorder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Station, the sub-segment i.e. Nonautomated will boost the Digital Fault Recorder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Installation, the sub-segment i.e. Generation will boost the Digital Fault Recorder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Recoeding Type, the sub-segment i.e. Transient Fault Records will boost the Digital Fault Recorder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. High-speed Disturbance Recording will boost the Digital Fault Recorder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand for Digital Substation and Increasing use for Monitoring of System Protection Performance
Market Growth Drivers:
High Demand for Substation Distributed Digital Fault Recording and Increasing Need for Reliable Power System Operation
Challenges:
Technological Complexities Associated with Digital Fault Recorder
Restraints:
High Initial Investment for Digital Fault Recorder
Opportunities:
Increasing Demand from the Asia Pacific Region and Increased Investments in Renewable Energy Projects
Market Leaders and their expansionary development strategies
In January 2024, UNICOM Government, Inc. announced that it has been awarded the Advanced Solutions Aggregator contract through OMNIA Partners, Inc. (“OMNIA Partners”). This premiere nation-wide State, Local, and Education (“SLED”) cooperative purchasing vehicle, competitively solicited by lead agency, Region XIV Education Service Center (“ESC”), gives public sector agencies and organizations streamlined access to a vast array of IT solutions and services.
In January 2023, ABB has launched the first virtualized protection and control solution with Smart Substation Control and Protection SSC600 SW. The virtualized product enables customers to use the hardware of their choice and gain access to the same proven protection and control functionality as with ABB’s turnkey solution.
Key Target Audience
Digital Fault Recorder Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.