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Intelligent Electronic Devices Market Size, Business Opportunity and Future Demand by 2028 | IMARC Group
Intelligent Electronic Devices Market Report 2023
Report Highlights
How big is the intelligent electronic devices market?
The global intelligent electronic devices market size reached US$ 11.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
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What are intelligent electronic devices?
Intelligent electronic devices (IEDs) are devices used in electrical power systems to perform specific control, protection, monitoring, and communication functions. They are equipped with human-machine interface (HMI) software and assist in testing, fault analysis, and real-time event reporting. They include protective relays, circuit breakers, capacitor bank switches, recloser controllers, and voltage regulators and aid in remote, local, and substation data acquisition for network analysis. At present, they find applications in energy and power, automotive, oil and gas, chemical, healthcare, food and beverage (F&B), and water industries across the globe.
What are the growth prospects and trends in the intelligent electronic devices industry?
Rapid industrialization and the rising automation in industrial processes represent one of the key factors positively influencing the market around the world. In line with this, the increasing demand for decreasing transmission and power distribution (T&D) losses due to the increasing power line fluctuations and outages is strengthening the market growth. Additionally, governments of various countries are promoting the installation of smart meters in households for increasing the remote monitoring of power losses and accurate billing. This, in confluence with the adoption of the internet of things (IoT) in the energy sector, is creating a favorable market outlook. Furthermore, the increasing awareness of energy efficiency and conservation is stimulating the growth of the market across the globe.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Digital Relay
Voltage Regulator
Protection Relay
Circuit Breaker
Load Tap Changer
Recloser Controller
Capacitor Bank Switch
Others
Breakup by End Use Industry:
Automotive
Healthcare
Oil and Gas
Petrochemical
Chemical
Food and Beverages
Energy and Power
Waste and Wastewater Treatment
Others
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
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
Trilliant Networks Inc.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group'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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