New York, NY, Aug. 30, 2019 (GLOBE NEWSWIRE) -- 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 through 54 Tables & 37 Figures spread over 162 Pages and in-depth TOC on “Global Intelligent Electronic Devices Market: By Type, Application, Industry Size, Share, Segments, Growth, Analysis and Forecast, 2018–2025”.
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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.
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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 globally renowned intelligent electronic devices market players headquartered in the U.S. are Cisco Systems, Honeywell International, General Electric, NovaTech, and Schweitzer Engineering Laboratories. Furthermore, the market demand in Canada and Mexico is projected to grow substantially in the years ahead.
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 intelligent electronic devices market in Europe is driven by the flourishing automotive applications. On a daily basis, the regional use of intelligent electronic devices in various automotive applications is increasing rapidly. Additionally, advanced automobile manufacturers are gradually switching from conventional to digital relays. The European Union held the largest market share in the region and is estimated to continue its dominance over forecast timeframe as well. As per the European Free Trade Association (EFTA) in 2018, the European Union new vehicles registrations increased by 0.1% in 2018.
The Asia Pacific intelligent electronic devices market held the largest share geographically in 2018, due to continuous proliferating urbanization and industrialization across the region. The growing demand for effective power distribution systems holds a huge potential of surviving harsh environments is further driving the urbanization and industrialization rate in the emerging Asia Pacific economies. Intelligent electronic devices that are technically advanced and compact in size are highly preferred for critical applications. The market for intelligent electronic devices in China and India is expected to grow at a significant rate in the future.
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The major factor propelling the intelligent electronic devices market in Latin America is the increasing number of smart city regional projects.
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.
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This report segments the global intelligent electronic devices market into:
Intelligent Electronic Devices Market: Product Analysis
- Voltage Regulator
- Digital Relay
- Circuit Breaker Controller
- Protection Relay
- Load Tap Changer Controller
- Capacitor Bank Switch
- Recloser Controller
- Others
Intelligent Electronic Devices Market: Application Analysis
- Traction Signaling and Control System
- Mass Transit System
- Water Supply and Management System
- Condition Monitoring
- Automation
Intelligent Electronic Devices Market: End-User Analysis
- Oil and Gas
- Automotive
- Petrochemical
- Food and Beverages
- Healthcare
- Water and Wastewater Treatment
- Energy and Power
- Others
Intelligent Electronic Devices Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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