Global Intelligent Electronic Devices Market to Reach US$ 24.8 Billion by 2032, Propelled by the Increasing Automation in the Industrial Procedures

September 08, 2022 | Electronics and Semiconductors

The latest report by IMARC, titled “Intelligent Electronic Devices Market Report by Type (Digital Relay, Voltage Regulator, Protection Relay, Circuit Breaker, Load Tap Changer, Recloser Controller, Capacitor Bank Switch, and Others), End Use Industry (Automotive, Healthcare, Oil and Gas, Petrochemical, Chemical, Food and Beverages, Energy and Power, Waste and Wastewater Treatment, and Others), and Region 2024-2032”, finds that the global intelligent electronic devices market size reached US$ 12.2 Billion in 2023. Intelligent electronic devices (IEDs) refer to devices that possess single or multiple microprocessors within them. They are used to provide advanced power automation for industrial control systems (ICS). They are equipped with human-machine interface (HMI) software for commissioning, testing, and performing fault analysis and real-time synchronization of event reporting. Consequently, intelligent electronics devices have recently gained traction in various industry verticals, including energy and power, automotive, oil and gas, chemicals and petrochemicals, food and beverage (F&B), healthcare, and water and wastewater treatment industries.

Global Intelligent Electronic Devices Market Trends:

One of the primary factors driving the market is rapid automation in industrial procedures. Other than this, the increasing need to minimize transmission and power distribution losses (T&D) and the rising instances of outages and fluctuations in power lines are positively influencing the market growth. Besides this, the growing trend of automation in solar power systems, along with the escalating demand for renewable energy sources, is propelling the market growth. Moreover, governments of various nations are undertaking several initiatives, such as the installation of smart meters in each household. This has accelerated the product adoption rate as IEDs simplify power automation with optimal capital assets and minimal human intervention. Looking forward, IMARC Group expects the market value to reach US$ 24.8 Billion by 2032, expanding at a CAGR of 8% during the forecast period (2024-2032).

Market Summary:

  • Based on the type, the market has been divided into digital relay, voltage regulator, protection relay, circuit breaker, load tap changer, recloser controller, capacitor bank switch, and others.
  • On the basis of the end use industry, the market has been segmented into automotive, healthcare, oil and gas, petrochemical, chemical, food and beverages, energy and power, waste and wastewater treatment, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being ABB Limited, 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, End Use Industry, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Intelligent Electronic Devices Market to Reach US$ 24.8 Billion by 2032, Propelled by the Increasing Automation in the Industrial Procedures
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