PUBLISHER: IMARC | PRODUCT CODE: 1541015
PUBLISHER: IMARC | PRODUCT CODE: 1541015
The global intelligent electronic devices market size reached US$ 12.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.8 Billion by 2032, exhibiting a growth rate (CAGR) of 8% during 2024-2032.
An intelligent electronic device (IED) is used in industrial control systems (ICS) to enable automation of power systems. It is equipped with a human-machine interface (HMI) software for testing, commissioning, and performing fault analysis and real-time synchronization of event reporting. It monitors self and external circuits, performs advanced local control intelligence and provides remote, local and substation data acquisition for use in network analysis. Consequently, it finds applications in a number of industries including automotive, energy and power, oil & gas, chemicals & petrochemicals, healthcare, food and beverage (F&B), and water and wastewater treatment industries.
The increasing automation in industrial processes represents one of the key factors impelling the global IEDs market growth. Moreover, the rising need to reduce transmission and power distribution (T&D) losses, along with the growing instances of fluctuation and outages in power lines, is driving the market. Apart from this, the increasing trend of substation automation in solar power systems, in confluence with the escalating demand for renewable energy sources, is contributing to the market growth. Furthermore, governments of several countries are focusing on the installation of smart meters in every household, which is positively influencing the demand for IEDs as they facilitate power automation with optimal capital assets and minimal human intervention.
IMARC Group provides an analysis of the key trends in each sub-segment of the global intelligent electronic devices market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and end use industry.
Digital Relay
Voltage Regulator
Protection Relay
Circuit Breaker
Load Tap Changer
Recloser Controller
Capacitor Bank Switch
Others
Automotive
Healthcare
Oil and Gas
Petrochemical
Chemical
Food and Beverages
Energy and Power
Waste and Wastewater Treatment
Others
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
The report has also analysed the competitive landscape of the market with some of the key players being 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.