Digital Fault Recorder (DFR) Market Size Estimated to Observe Significant Growth by 2031

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Digital Fault Recorder (DFR) is a device that is installed in a substation to record the waveform from a fault on a transmission line. It is a multi-functional data acquisition device that is able to record all waveform signals at a sampling rate of 1024 samples per cycle. Thus, it can monitor all power quality load profiles and synchrophasors. DFR provides complete isolation and analysis of any event and gives solutions for protection and optimum operation of the electric system. It is a powerful platform for cost-effective performance solution, acquisition, analysis, and data reporting from power system substations. Features of DFR include modular design, centralized & decentralized architecture, modern synchronization, comprehensive web-interface, and scalable architecture.
DFR uses communications to retrieve fault, disturbance, and sequence of event records that are captured by protection relays distributed throughout a substation. It internally stores this critical substation information, which is used in local station troubleshooting. It also archives this data in a remote enterprise network location for permanent storage and analysis. Rise in contracts, agreements, and product developments is fueling the global DFR market.

The global DFR market has developed significantly over the last few years. DFR plays an important role in addressing several issues associated with faults and disturbances in substations. Rise in usage of fault recorders in the power sector is expected to propel the DFR market during the forecast period.
Increase in demand for power due to growth in industrialization is estimated to create significant opportunities for the DFR market. Thus, the DFR market is anticipated to expand at a significant pace during the forecast period.

In terms of type, the global DFR market can be segmented into dedicated and multifunctional
The multifunctional segment is expected to account for significant share of the global DFR market during the forecast period. It is anticipated to be followed by the dedicated segment.

In terms of installation, the global DFR market can be divided into generation, transmission, and distribution
The transmission segment is likely to account for major share of the global DFR market during the forecast period due to the increase in investments in power transmission infrastructure across the globe

In terms of station, the global DFR market can be segregated into non-automated station and automated station
The automated segment is expected to account for significant share of the global DFR market during the forecast period

In terms of voltage, the global DFR market can be classified into less than 66 kV, 66-220 kV, and above 220 kV
The 66-220 kV segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the above 220 kV segment.

On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the global DFR market.

In terms of region, the global DFR market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific dominated the global DFR market in 2020. This trend is anticipated to continue during the forecast period. This can be ascribed to the increase in government investments to improve power grid infrastructure in order to maximize the reliability of power systems. India is a rapidly growing country of the DFR market in Asia Pacific due to the rise in demand for power grid infrastructure in the country. Increase in demand for resources of renewable energy and power grid is also driving the DFR market in Asia Pacific.