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Relay And Industrial Controls Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Relay And Industrial Controls Market
The Business Research Company offers in-depth market insights through Relay And Industrial Controls Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The relay and industrial controls market size has grown steadily in recent years. It will grow from $153.29 billion in 2023 to $160.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to electrification of industries, automation and control systems, infrastructure development, regulatory and safety standards.
The relay and industrial controls market size is expected to see steady growth in the next few years. It will grow to $190.24 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to industry 4.0 and digital transformation, energy efficiency and sustainability, smart manufacturing and iot, urbanization and infrastructure expansion, electric vehicles and transportation electrification. Major trends in the forecast period include digitalization and connectivity, plc and hmi integration, energy-efficient motor control, safety and compliance, customization and scalability.
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Market Segmentation:
The main control systems of relay and industrial control are distributed control systems (DCS), supervisory control & data acquisition systems (SCADA), and manufacturing execution systems (MES). A distributed control system (DCS) is a platform for automated plant or industrial process control and operation. Human-machine interface (HMI), logic solvers, historians, common database, alarm management, and a common engineering suite are all combined into a DCS. The various component used are modular terminal blocks, relays, optocouplers, surge protectors, marking systems, printing, ferules cable lugs, hand tools, testers, enclosure products, PCB connectors and terminals, heavy-duty connectors, analog signal conditioners, electronics housing, power supplies, industrial ethernet, and remote IO. Relay and industrial control are used for automotive, industrial, communications, household appliances, and other applications.
Major Driver - Rapid Growth In Smart City Investments Driving Relay And Industrial Controls Market
The relay and industrial controls market is expected to be supported by rapid growth in investments in smart city projects in many countries globally. Industrial controls are being designed using artificial intelligence (AI) and the internet of things (IoT) that can support energy, telecommunications, surveillance, and other services. Smart city technologies are integrated with electrical and electronic components, therefore benefitting the companies operating in this relay and industrial controls market. For instance, in 2023, according to the IMD Smart City Index Report, a Switzerland-based business school, the city coverage of the SCI index and report increased by almost 20%, bringing the total number of smart cities to 141.
Competitive Landscape:
Major companies operating in the relay and industrial controls market include ABB Ltd, Siemens, Honeywell International Incorporation, Emerson Electric Company, Schneider Electric SA, Mitsubishi Electric Factory Automation, Omron Corporation, Rockwell Automation, Yokogawa Electric Corporation, Fuji Electric, Alstom, Crydom Corp, Coto Technology, Fujitsu Ltd, StandexMeder Electronics GmbH, Teledyne Relays Inc, Comus International, 3D Systems Corporation, HP Inc. (Hewlett-Packard Company), FANUC Corporation, STRATASYS Ltd., Progea (Progea Automation Software Srl), Hitachi Ltd., Vega Grieshaber KG, Danfoss A/S, CHINT Electrics, IDEM Safety Switches Ltd., Delta Electronics Inc., Crouzet Automatismes SAS, Sensata Technologies Holding plc, Schaltbau Holding AG, Phoenix Mecano AG, Weidmüller Interface GmbH & Co. KG, Sprecher Automation GmbH, IDEC Corporation, Carlo Gavazzi Holding AG, Balluff GmbH, Turck Inc., IFM Electronic GmbH, Banner Engineering Corp
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Top Trend - Popularity Of Plug-In Relays In The Automotive Industry
Plug-in relays are increasingly being used in the automotive sector due to their light weight compared to electromechanical relays. These relays can handle high-rated current and operating voltage similar to that of electromechanical type relays. Plug-in relays are being used in automobile applications such as electrically heated catalytic converters, heater controls, windscreen wipers, motors and pumps, and body electronics, such as door locks, seat controls, window lifters, and others. For instance, Omron's plug-in automotive relays that range from 20A to 70A are used in automotive applications such as artery motors, heater controls, windscreen wipers, and any applications that require high continuous current switching.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Relay And Industrial Controls Market Characteristics
3. Relay And Industrial Controls Market Trends And Strategies
4. Relay And Industrial Controls Market - Macro Economic Scenario
5. Relay And Industrial Controls Market Size And Growth
…..
27. Relay And Industrial Controls Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Table of Contents:
Table of Contents
1 Study Coverage
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