Intelligent Electronic Devices Market Analysis 2022-27 According to the latest report by IMARC Group, titled “Intelligent Electronic Devices Market : Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027”, Offers a comprehensive analysis of the industry, which comprises insights on intelligent electronic devices market share.
The global intelligent electronic devices market reached a value of US$ 10.1 Billion in 2021. An intelligent electronic device (IED) represents a microprocessor-integrated device used in industrial control systems (ICS) for the automation of power systems. It is equipped with a human-machine interface (HMI) software for testing, performing, and commissioning fault analysis and real-time synchronization of event reporting. IEDs include circuit breakers, transformers, capacitor banks, voltage regulators, etc. They monitor self and external circuits, perform advanced local control intelligence, provide remote, local and substation data acquisition for network analysis, etc. Consequently, IEDs are extensively used across numerous industries, including automotive, oil and gas, chemicals and petrochemicals, healthcare, energy, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Intelligent Electronic Devices Market Trends:
The increasing automation of industrial processes is one of the primary factors driving the intelligent electronic devices market. Moreover, the escalating need to reduce transmission and power distribution (T&D) losses and the rising instances of fluctuations and outages in power lines are further bolstering the market growth. In addition to this, the emerging trend of substation automation in solar power systems and the inflating demand for renewable energy sources are acting as growth-inducing factors. Furthermore, the government bodies of several countries are focusing on the installation of smart meters in every household. This, in turn, is expected to fuel the intelligent electronic devices market in the coming years since IEDs facilitate power automation with optimal capital assets and minimal human intervention. Looking forward, IMARC Group expects the market to reach US$ 17.3 Billion by 2027, exhibiting a CAGR of 9.6% during 2022-2027.
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Global Intelligent Electronic Devices Market Coverage and Segmentation 2022-2027:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 and Trilliant Networks Inc.
The report has segmented the market on the basis on region, type and end use industry.
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: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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