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Comprehensive 2025 Relay And Industrial Controls Market Overview: Trends, Forecasts, and Growth Drivers
Relay And Industrial Controls Market
What Is the Expected CAGR for the Relay And Industrial Controls Market Through 2025?
Over the last few years, the market size of relay and industrial controls has significantly bolstered. It is predicted to surge from $153.12 billion in 2024 to $161.1 billion in 2025, marking a compound annual growth rate (CAGR) of 5.2%. This growth rate during the historic period is ascribed to the electrification of industries, the incorporation of automation and control systems, advancement in infrastructure, and adherence to regulatory and safety norms.
What's the Projected Size of the Global Relay And Industrial Controls Market by 2029?
In the coming years, the market size of relay and industrial controls is anticipated to witness consistent growth. A rise to $190.02 billion by 2029 is predicted, with a compound annual growth rate (CAGR) of 4.2%. This progression during the projected period can be credited to factors such as industry 4.0 and digital transformation, energy efficiency and sustainability, smart manufacturing and the Internet of Things, urbanization and infrastructure expansion, and the evolution of electric vehicles and transportation electrification. Key trends expected in the projected period are digitalization and connectivity, the integration of PLC and HMI, energy-efficient motor control, safety, and compliance, as well as customization and scalability.
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Top Growth Drivers in the Relay And Industrial Controls Industry: What's Accelerating the Market?
The market for relay and industrial controls is set to gain momentum driven by the swift escalation in investments towards smart city projects across the globe. The moulding of industrial controls is made possible via artificial intelligence (AI) and the Internet of Things (IoT), which support an array of services like energy, telecommunications, surveillance, and more. Electrical and electronic components find a crucial place in smart city technologies, thus providing a boost to businesses present in the relay and industrial controls market. To illustrate, as per the IMD Smart City Index Report originating from a business school in Switzerland, there was nearly a 20% growth in city coverage of the SCI index and report in 2023, escalating the total tally of smart cities to 141.
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What Trends Will Shape the Relay And Industrial Controls Market Through 2029 and Beyond?
The application of plug-in relays within the automobile industry is becoming more prevalent, primarily due to their lesser weight when compared to electromechanical relays. Similarly, like their electromechanical counterparts, these relays are also equipped to manage high-rated current and operating voltage. Their usage in automotive equipment sees a wide-ranging scope, from electrically heated catalytic converters to heater controls, from windscreen wipers to motors, pumps, and body electronics like door locks, seat controls, and window lifters among others. As an example, Omron manufactures plug-in automotive relays with a range from 20A to 70A that are utilized in a variety of automotive applications such as artery motors, heater controls, windscreen wipers, and applications which necessitate high continuous current switching.
What Are the Main Segments in the Relay And Industrial Controls Market?
The relay and industrial controls market covered in this report is segmented -
1) By Control system: Distributed Control System (DCS), Supervisory Control And Data Acquisition System (SCADA), Manufacturing Execution System (MES)
2) By Component: Modular Terminal Blocks, Relays And Optocouplers, Surge Protectors, Marking Systems, Printing, Ferrules Cable Lugs, Handtools, Testers, Enclosure Products, PCB Connectors And Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronics Housing, Power Supplies, Industrial Ethernet, Remote IO
3) By Application: Automotive, Industrial, Communications, Household Appliance, Other Applications
Subsegments:
1) By Distributed Control System (DCS): Batch Process Control, Continuous Process Control
2) By Supervisory Control And Data Acquisition System (SCADA): Hardware, Software, Services
3) By Manufacturing Execution System (MES): Product Lifecycle Management (PLM), Enterprise Resource Planning (ERP) Integration, Quality Management Systems (QMS)
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Which Top Companies are Driving Growth in the Relay And Industrial Controls Market?
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
Which Regions Will Dominate the Relay And Industrial Controls Market Through 2029?
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
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