Intelligent Electronic Devices Market Overview and Future Prospects 2024-2031

The Intelligent Electronic Devices Market is a rapidly evolving sector, driven by advancements in hardware, software, and digital infrastructure. It encompasses a wide range of services, including cloud computing, cybersecurity, data analytics, and artificial intelligence. The increasing demand for digital transformation across industries is fueling growth. Emerging technologies like 5G, blockchain, and IoT are further expanding its potential. With continuous innovation, the IT market is expected to see robust growth in the coming years, particularly in areas of automation and remote work solutions.

Market Size and Growth:

Global Intelligent Electronic Devices Market size was valued at USD 13.61 billion in 2022 and is poised to grow from USD 14.85 billion in 2023 to USD 29.08 billion by 2031, at a CAGR of 9.1% during the forecast period (2024-2031).

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Key Market Players:

ABB Ltd.
Advanced Control Systems, Inc.
Basler Electric Company
Beckwith Electric Co., Inc.
Eaton Corporation
Echelon Corporation
Emerson Electric Co.
General Electric Company
Honeywell International Inc.
Itron Inc.
L&T Electrical & Automation
Mitsubishi Electric Corporation
NovaTech LLC
Rockwell Automation Inc.
Schneider Electric SE
Schweitzer Engineering Laboratories, Inc.
Siemens AG
Toshiba Corporation
Trilliant Holdings, Inc.
Yokogawa Electric CorporationRecent developments
Leading manufacturer in the sector, Toshiba Electronic Devices & Storage Corporation, introduced two intelligent power devices, TPD2015FN and TPD2017FN, in February 2023. These devices have the ability to regulate the drive of inductive loads, such as motors and lamps.
On 28 Apr 2022, ET reported that Apple's contract manufacturers are expected to make iPhones worth '47,000 crores in India this fiscal year, the second year of the production-linked incentives (PLI) scheme in April. This will be almost five times the '10,000 crores worth of iPhones made in the country in FY22 by Foxconn and Wistron.
On 17 Mar 2022, Imagine Marketing, Boat's parent company, which filed its draft red herring prospectus with market regulator Securities and Exchange Board of India in January this year to raise Rs 2,000 crore from the public markets, is awaiting approval from the regulator.


Regional Segmentation:

North America: U.S., Canada and Mexico
Europe: Germany, France, U.K., Italy, Spain, and Rest of Europe
Asia Pacific: China, India, Japan, South Korea, Southeast Asia, and Rest of Asia Pacific
South America: Brazil, Argentina, and Rest of Latin America
Middle East & Africa: GCC Countries, South Africa, and Rest of Middle East & Africa

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Segments covered in Intelligent Electronic Devices Market are as follows:

Type
On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Reclose Controller, Voltage Regulator, Digital Relay, Protective Relaying Device
Application
Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation, and Condition Monitoring
Industry Vertical
Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical, Chemicals, and Others


Intelligent Electronic Devices Market Size And Scope

The Intelligent Electronic Devices market has experienced notable growth in recent years, propelled by the rising demand for power electronics across various sectors, including automotive, telecommunications, and renewable energy. This market is poised for further expansion as the global adoption of electric vehicles and renewable energy sources accelerates. Intelligent Electronic Devices are highly valued for their exceptional thermal conductivity, electrical insulation, and mechanical strength, making them indispensable in power modules and electronic components. With ongoing advancements in technology and manufacturing, the applications of Intelligent Electronic Devices are expected to broaden, extending their reach into an even wider array of uses in the near future.

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This release was published on openPR.