Intelligent Electronic Devices Market: Driving Factors and Opportunities 2016 - 2024

Most of the nations worldwide are trying to raise their electricity production in order to complement the increasing industrialization and urbanization. This factor has significantly contributed to the rise of substation installation in order to deliver electricity to various remote parts of a nation. A substation is used to step up current and voltage or vice versa for transmitting electricity to long distances.

Thus, a substation typically consists of equipment such as circuit breaker, transformer, capacitors and voltage regulators which perform transmission, distribution and protection of equipment’s from both the ends. This makes substation an important part of power system which needs constant monitoring and maintenance for smooth operation. Intelligent electronic device helps to monitor, control and protect the substation equipment’s from unpredicted faults resulting in disruption of power supply.

Request Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11489

Intelligent electronic devices consist of a group of microprocessor controlled components such as switching, control and communication units. Switching units comprises devices such as protective relay, electrically operated on-load tap controller and electrical isolator which operate in substation to mechanically isolate the system in case of possible fault. Some switching units also continuously monitor and collect data which is fed to control units through communication devices. Communication devices comprises Ethernet cables, wireless transmission and power line communication carrier (PLCC). Today, most of the intelligent electronic devices manufacturers provide communication through Ethernet cables and wireless communication.

Control units consists of a system which helps to monitor and control the remote terminal unit (RTU) or switching units in real-time. Further, it also collects historical data from switching units thereby providing detailed analysis to the operator. Intelligent electronic devices also consist of monitoring systems, supervisory control and data acquisition (SCADA), human machine interface (HMI) and digital meters which help to provide additional information of overall health of substation systems.

Browse Our Report: https://www.transparencymarketresearch.com/intelligent-electronic-devices-market.html

Intelligent Electronic Devices Market: Driving Factors and Opportunities

Further, with the introduction of smart grid system, the application of intelligent electronic devices is expected to increase in coming years. Some intelligent electronic device vendors also provide software which help to collate and monitor the overall condition of intelligent electronic devices. A major requirement for intelligent electronic devices vendors is to comply their system with International Electrotechnical Commission (IEC) IEC 61850-6 standard. Thus, the protocol is expected to create a huge impact on the market in producing a standardized product.

The application of intelligent electronic device is expected to increase in transmission and distribution, collector and switching substation. Some vendors are also providing customized solution for gas insulated substation which also require monitoring of SF6 gas. The market for intelligent electronic device is also expected to increase owing to the automated and remote control of substation in remote areas.

The application of intelligent electronic device is increasing in renewable energy installation such as wind farms and solar projects which require continuous monitoring of electrical equipment’s. The market can be segmented on the basis of hardware such as RTU, communication and control system. Further, the challenge faced in case of possible intrusion in wireless based communication can be a possible restraint for this market.

Pre Book Now This Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=11489

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.