Global Intelligent Electronic Devices Market by Type (Digital Relay, Voltage Regulator, Protection Relay, Circuit Breaker Controller, Load Tap Changer Controller, Recloser Controller, Capacitor Bank Switch), End-users ( Automotive, Pharmaceutical, Petrochemical, Oil and Gas, Health Care, Food and Beverages, Energy and Power, Water and Wastewater Treatment), Application (Mass Transit System, Water Supply and Management System, Traction Signaling and Control System, Automation, Condition Monitoring), and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) is expected to reach US$ 17.09 Bn by 2026, At a CAGR of 9.25% during a forecast period.
Intelligent Electronic Devices market is expected project at highest CAGR during the forecasting period. Now a day, rising urbanization is augmenting the demand for intelligent electronic devices suitable for use in harsh environments will ultimately boost the market growth. This is likely to boost the demand for IEDs such as load tap controllers, PLCs, and digital relays in the next few years.
Digital relay segment is expected grow at highest CAGR during the forecasting period.
In 2017, digital relay segment accounted for a major market share of more than 30.0%. This segment is anticipated to expand at a CAGR of more than 6.5% during the forecast period. To fulfill various market demands, various manufacturers of intelligent electronic devices are currently focusing on development and research activities on a regular basis in order to invent advanced applications of these devices. With growing industrialization and urbanization, the need for distribution systems that can function in harsh environments and occupy less space has been rising. IEDs such as smart meters, PLCs, and digital relays are optimal for use in substations, which creates significant potential for the growth of the global intelligent electronic devices market.
Asia-Pacific region has the largest market share for global Intelligent Electronic Devices market during the forecast period.
Asia-Pacific region of Intelligent Electronic Device market has immense potential growth and is expected to grow at a significant CAGR during the forecast period. Rising number of renewable energy projects coupled with increasing government initiatives in the energy and power sector are the major reasons for the demand for intelligent electronic devices market. Also Europe is expected to contribute significant growth of intelligent electronic devices market during the forecast period.
Key players operating in global Intelligent Electronic Devices market, Amperion, BPL Global, Cisco System, EATON, Grid Net, Infrax Systems, Itron, Honeywell International , Landis+GYR, NovaTech , Open Systems International, Rockwell Automation, S&C Electric, Schweitzer Engg Lab, Sensus , Silver Spring Networks, Subnet Solutions, and Trilliant
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Intelligent Electronic Devices market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global Intelligent Electronic Devices market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Intelligent Electronic Devices market positioning of competitors.
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