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Relay And Industrial Controls Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Relay And Industrial Controls Market
Relay And Industrial Controls Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $190.24 billion In 2028 At A CAGR Of 4.3% :
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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Relay And Industrial Controls Market Major Segments
The relay and industrial controls market covered in this report is segmented -
1) By Control system: Distributed Control System (DCS), Supervisory Control & Data Acquisition System (SCADA), Manufacturing Execution System (MES)
2) By Component: Modular Terminal Blocks, Relays & Optocouplers, Surge Protectors, Marking Systems, Printing, Ferulles Cable Lugs, Handtools, Testers, Enclosure Products, PCB Connectors & Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronics Housing, Power Supplies, Industrial Etherne, Remote IO
3) By Application: Automotive, Industrial, Communications, Household Appliance, Other Applications
Key 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.
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Prominent 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.
Relay And Industrial Controls Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the relay and industrial controls market in 2023. North America was the second-largest region in the relay and industrial controls market. The regions covered in the relay and industrial controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Relay And Industrial Controls Market Report Structure
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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