The global intelligent electronic devices market reached a value of US$ 10.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.3 Billion by 2027, exhibiting a CAGR of 9.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
Intelligent Electronic Devices Market Trends:
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global intelligent electronic devices market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and end use industry.
Breakup by Type:
- Digital Relay
- Voltage Regulator
- Protection Relay
- Circuit Breaker
- Load Tap Changer
- Recloser Controller
- Capacitor Bank Switch
Breakup by End Use Industry:
- Oil and Gas
- Food and Beverages
- Energy and Power
- Waste and Wastewater Treatment
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- 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.
|Base Year of the Analysis
||Type, End Use Industry, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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