29-Aug-2019 | Zion Market Research
Zion Market Research has published a new report titled “Intelligent Electronic Devices Market By Product (Voltage Regulator, Digital Relay, Circuit Breaker Controller, Protection Relay, Load Tap Changer Controller, Capacitor Bank Switch, Recloser Controller, and Others), By Application (Traction Signaling and Control System, Mass Transit System, Water Supply and Management System, Condition Monitoring, and Automation), and By End-User (Oil & Gas, Automotive, Petrochemical, Food & Beverages, Healthcare, Water & Wastewater Treatment, Energy & Power, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global intelligent electronic devices market was USD 12.1 billion in 2018 and is expected to reach approximately USD 18.4 billion by 2025, growing at a CAGR of slightly above 6.3% between 2019 and 2025.
A device assembled additionally to industrial control systems (ICS), with the motive of enabling advanced power automation, is called an intelligent electronic device (IED). Numerous categories of IEDs are available in the market and are assembled as per specific requirements of a wide range of applications, such as power surveillance, measuring, management, and communication.
Browse the full “Intelligent Electronic Devices Market By Product (Voltage Regulator, Digital Relay, Circuit Breaker Controller, Protection Relay, Load Tap Changer Controller, Capacitor Bank Switch, Recloser Controller, and Others), By Application (Traction Signaling and Control System, Mass Transit System, Water Supply and Management System, Condition Monitoring, and Automation), and By End-User (Oil & Gas, Automotive, Petrochemical, Food & Beverages, Healthcare, Water & Wastewater Treatment, Energy & Power, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/intelligent-electronic-devices-market
The adoption and application rates of Internets of Things (IoT), such as smart grids, smart cities, and smart homes, are growing rapidly worldwide. Intelligent electronic devices play a crucial role in the implementation of various advanced technologies by extensively reducing the rate of dreadful faults. Thus, the worldwide emergence of advanced technologies, such as IoT, is propelling the intelligent electronic devices market globally. Even a minor alteration in documented values and actual values of IEDs can result in serious losses across numerous sensitive applications. Thereby, the risk of data inaccuracy may hinder the intelligent electronic devices market to some extent globally. Since the adoption of intelligent electronic devices is in its early development stage, continuous technological enhancements are anticipated to generate lucrative market opportunities in the years ahead.
The intelligent electronic devices market is fragmented based on the product, application, and end-user. The product segment is categorized into capacitor bank switch, digital relay, voltage regulator, circuit breaker controller, recloser controller, protection relay, load tap changer, controller, and others. The growing digital relays demand is at its peak globally. The increasing rate of faults due to power overloading is fuelling the global demand for protection relays, which will drive this segment’s growth in the future. The application segment of the market includes traction signaling and control system, mass transit system, water supply and management system, condition monitoring, and automation. The emerging automation applications and solutions across the globe are majorly driving the automation segment. The condition monitoring segment is expected to grow substantially in the future, as the leading players of the electronics industry are opting for various strategies to prevent major losses by early fault detection and continuous monitoring. By end-user, the intelligent electronic devices market comprises oil and gas, energy and power, automotive, petrochemical, healthcare, water and wastewater treatment, food and beverages, and others. The automotive segment holds the largest market share globally.
North America is projected to witness major growth in the intelligent electronic devices market over the forecast timeframe. The U.S. held the largest share of the intelligent electronic devices market in 2018, due to the strong presence of globally leading market players across the country.
Some key participants operating in the intelligent electronic devices market are Siemens Corporation, Schneider Electric, Eaton Corp., ABB, SUBNET Solutions, Honeywell International, Black & Veatch, Cisco Systems, Landis+Gyr, BPL Global, Toshiba Corporation, Open Systems International, Rockwell Automation, S&C Electric, and Schweitzer Engineering Laboratories.
This report segments the global intelligent electronic devices market into:
Intelligent Electronic Devices Market: Product Analysis
Intelligent Electronic Devices Market: Application Analysis
Intelligent Electronic Devices Market: End-User Analysis
Intelligent Electronic Devices Market: Regional Analysis
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