Press release
Industrial Electronics Market Growth 2021 | Market Trends, Covid-19 Impact, Business Outlook 2027 | ABB, Mitsubishi Electric, Rockwell Automation
The global Industrial Electronics market size is expected to reach US$ 36.2 Billion by the end of 2027, with a CAGR of 5.2% during 2021-2027. Increased demand for power electronics across various industry verticals is a major driver driving the growth of the Industrial Electronics market. Increased use of power electronics in a variety of application, such as industrial motor drives, electric grid stabilization, and consumer electronics, is also driving demand.Because of the expansion of the electronics sector and an increase in EV sales, North America accounted for the largest proportion.
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Top Key Players Included in Industrial Electronics market Report: ABB, Mitsubishi Electric, Rockwell Automation, Infineon Technologies, Vishay Intertechnology, Microchip, Texas Instruments, STMicroelectronics, NXP Semiconductors, Toshiba Corporation, ON Semiconductor, Renesas Electronics, and Maxim Integrat
The Industrial Electronics market report includes a combination of quantitative market data and qualitative analytical statistics to hit upon market income with the aid of using key classes and end-use packages. The document bridging historic statistics among 2015 and 2020, with the emergence of the most modern state of affairs withinside the global Industrial Electronics market, that is anticipated to 2027, has made companies uncertain what the destiny potentialities are, because of a disturbance withinside the cost chains.
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Industrial Electronics market segment by Type:
Power Semiconductor Device
Sensors and Actuators
Instrumentation
Intelligent Electronic Devices
Motor Drives
Power Systems
Measurement and Testing
Industrial Electronics market segment by Application:
Transportation
Chemical
Mining
Energy
Semiconductor
Telecommunication
Healthcare
Aerospace and Defense
The pandemic COVID-19 has adversely damaged the worldwide expansion of various sectors. The car sector has also suffered because of the lockdowns enforced by countries that have stopped manufacturing. Thanks to the pandemic and stoppage in the production sector, some enterprises have begun implementing new technologies to compensate for wages and to boost efficiency. The Industrial Electronics sector continued to revive after the pandemic and consistently saw a rise in investment. The pandemic has raised firms' interest in voice control and software for recognition.
FAQs
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