The protective relay market is estimated to reach USD 5.20 billion by 2024, at a CAGR of 7.10% from 2019 to 2024. Increasing investment in transmission and distribution infrastructure is one of the major drivers for the growth of protective relay market. According to T&D World, electric utilities would invest USD 3.2 trillion globally in the new and replacement of transmission & distribution infrastructure from 2017 to 2027.