IMARC Group, a leading market research company, has recently releases report titled “Intelligent Electronic Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global intelligent electronic devices market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the intelligent electronic devices market?
The global intelligent electronic devices market size reached US$ 11.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
What are intelligent electronic devices?
Intelligent electronic devices (IEDs) are devices used in electrical power systems to perform specific control, protection, monitoring, and communication functions. They are equipped with human-machine interface (HMI) software and assist in testing, fault analysis, and real-time event reporting. They include protective relays, circuit breakers, capacitor bank switches, recloser controllers, and voltage regulators and aid in remote, local, and substation data acquisition for network analysis. At present, they find applications in energy and power, automotive, oil and gas, chemical, healthcare, food and beverage (F&B), and water industries across the globe.
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What are the growth prospects and trends in the intelligent electronic devices industry?
Rapid industrialization and the rising automation in industrial processes represent one of the key factors positively influencing the market around the world. In line with this, the increasing demand for decreasing transmission and power distribution (T&D) losses due to the increasing power line fluctuations and outages is strengthening the market growth. Additionally, governments of various countries are promoting the installation of smart meters in households for increasing the remote monitoring of power losses and accurate billing. This, in confluence with the adoption of the internet of things (IoT) in the energy sector, is creating a favorable market outlook. Furthermore, the increasing awareness of energy efficiency and conservation is stimulating the growth of the market across the globe.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Digital Relay
- Voltage Regulator
- Protection Relay
- Circuit Breaker
- Load Tap Changer
- Recloser Controller
- Capacitor Bank Switch
- Others
Breakup by End Use Industry:
- Automotive
- Healthcare
- Oil and Gas
- Petrochemical
- Chemical
- Food and Beverages
- Energy and Power
- Waste and Wastewater Treatment
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ABB Ltd.
- Black & Veatch Corporation
- Cisco Systems Inc.
- CG Power and Industrial Solutions Limited (Avantha Group)
- Eaton Corporation Inc,
- Honeywell International Inc
- Landis Gyr Inc.
- Open Systems International Inc.
- Rockwell Automation Inc.
- S & C Electric Company
- Schneider Electric S.E.
- Siemens Aktiengesellschaft
- Toshiba Corporation
- Trilliant Networks Inc.
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