The annual revenue of the global smart grid protection relay system is expected to grow from $5.5 billion in 2015 to $9.7 billion in 2024.

   A new report from an American market Research firm：Navigant Research,which analyzes the global market for premium protective relays, including global market earnings forecasts for 2024.

The use of digital protection relay technology is changing, in order to promote the management and control of high performance of the protective relay ,to achieve the advanced sub-second monitoring, data collection, communication and other functions.

   The first generation of protective relay are approaching the end,which is replaced with the next generation of advanced protection relay .Navigant Research, senior Research analyst James McCray said that for public utilities, this is a disruptive to the development of power grid is now able to close to the real time monitoring management. After mechanical protection relay is the use of no communication.

   According to the report, relay protection technology is mainly composed of four categories, mechanical protection relays, solid state relay protection, senior digital protection relay, as well as integrated digital system integration system, advanced the function of the protection relay is set in the switch circuit breakers and other electrical equipment.