Solid State Relay Market Rising Demand, Growth, Trend & Insights for Next 5 years | Crydom (US),, Omron Corporation (Japan),, Carlo Gavazzi (Switzerland),, Vishay Intertechnology (US), Omega Engineering (US)., Infineon Technologies AG

Global Solid State Relay Market is valued approximately at USD 1.03 million in 2019 and is anticipated to grow with a growth rate of more than 6.6% over the forecast period 2020-2027. Solid State Relay are the electronic switch device with semiconductor switching elements thyristors, triacs, diodes, and transistors which gets switch on or off when a small external voltage is applied across its control terminals. Growing demand to upgrade the power infrastructure in developed countries and establishment of new power infrastructure is expected to becoming driving factor for solid state relay the market. For instance, in 2020, Ameren, one of the largest utility companies in the United States, announced that it plans to spend USD 7.6 billion on a five-year grid modernization plan that includes the installation of smart meters to develop solar energy and battery storage in rural areas and switch to storm-resilient utility poles and wires. Moreover , the growing adoption of high-tech electronics due to increase in global consumer electronic market also acting as a key driving factor for the market .

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Major market player included in this report are:
Crydom (US),
Omron Corporation (Japan),
Carlo Gavazzi (Switzerland),
Vishay Intertechnology (US)
Omega Engineering (US).
Infineon Technologies AG,
Vishay Intertechnology (Siliconix),
Fairchild Semiconductor,
Texas Instruments Incorporated,
Rockwell Automation, Inc.

However , cost of a solid state relay is significantly higher than an electromechanical relay and this can restrain the growth of the market .

The regional analysis of global Solid State Relay market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to the increasing investment in manufacturing electronic devices. California has maximum number of electric vehicles charging units and consist third of nationwide share.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Mounting Type:
Panel
PCB
DIN Rail
Others (plug-in, SO4, and DIP)

By Output Voltage:
AC
DC
AC/DC

By Current Rating:
Low (0A–20A)
Medium (20A–50A)
High (More than 50A)

By Application:
Industrial Automation
Machine Tools
Elevators
Conveyor Systems
Others

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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Solid State Relay Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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This release was published on openPR.