Market Overview:
The Global Intelligent Electronic Devices market was valued at USD 13.03 billion in 2021 and is expected to reach USD 18.46 billion by the year 2028, at a CAGR of 5.1%.
An Intelligent Electronic Device (IED) is a term applied in the electric power industry to represent microprocessor-based controllers of power system equipment. IEDs obtain data from sensors and power equipment and can issue control commands, like a tripping circuit breaker if they sense voltage, current, or frequency anomalies, or raise/lower voltage levels concerning maintain the desired level. A typical IED can hold around 5-12 protection functions, 5-8 control functions managing separate devices, self-monitoring function, communication functions, and others. Therefore, they are capably named Intelligent Electronic Devices. Some recent IEDs are developed to support the IEC61850 standard for substation automation, which offers interoperability and advanced communications capabilities.
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Market Dynamics:
Drivers:
An intelligent electronic device (IED) is a device that is added to an industrial control system to allow advanced power automation. Constantly growing efforts to overcome T&D losses and high application of IEDs such as capacitor bank switches, control circuit breakers, and voltage regulators for power fault detection in multiple industrial processes are anticipated to turn the global intelligent electronic devices market during the forecast period. In addition, growing requirements for substation automation solutions in the solar industry and rising demand for the rebuild of conventional substations are probably to influence the market in the upcoming years.
Restrains:
There are specific restraints that are limiting the growth of the global intelligent electronic devices market such as the high cost of the capital for the substation and IEDs, high maintenance cost, growth in the incidence of cybercrime, and the requirement to improvement quite frequently.
Opportunities:
The increased number of IoT applications such as smart cities, homes & grids, and other industries has helped to grow in the number of possibilities. The increase in demand for smart devices which can produce optimal and highly authentic results is also a lucrative opportunity for the intelligent electronic devices market growth. Intelligent electronic devices play a significant role in the application of IoT technology such as in decreasing faults and executing automation. The ability to function in antipode environmental conditions of the distribution system, optimal use of apps such as digital relays, smart meters, and PLCs, which are in high demand are also surging growth opportunities for the intelligent electronic devices market.
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Segmentation Analysis of Intelligent Electronic Devices Market:
Based on Application, the global intelligent electronic devices market has been classified into water supply & management systems, mass transit systems, traction signalling & control system, automation & condition monitoring. In 2017, the automation & condition monitoring segment recorded for the largest market share and is anticipated to maintain its dominance during the forecast period. In addition, the water supply & management system segment is expected to grow at the maximum CAGR over the forecast period.
By Type:
- Digital Relay
- Protective Relaying Device
- Circuit Breaker Controller
- Load Tap Changer Controller
- Voltage Regulator
- Others
By Industry Vertical:
- Food & Beverage
- Oil & Gas
- Automotive
- Pharmaceutical
- Chemicals
- Others
By Application:
- Water Supply & Management System
- Mass Transit System
- Traction Signalling & Control System
- Automation & Condition Monitoring
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Regional Analysis for the Intelligent Electronic Devices Market:
The Asia Pacific region is expected to dominate the market during the forecast period. The market in the Asia Pacific is primarily turned by raised investments in the modernization of infrastructure and continuously growing urban population in the region, especially in emerging countries such as China and India.
By Region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Top Key Players Covered In Intelligent Electronic Devices Market Are :
- ABB Group
- Toshiba Corporation
- Rockwell Automation Inc.
- Siemens Corporation
- Honeywell International Inc.
- Berry Palmer & Lyle Limited
- Black & Veatch Holding Company
- Leuze Electronic Cisco Systems Inc.
- Eaton Corporation PLC
- Landis+Gyr
- Infrax Systems
- S&C Electric Company
- Schneider Electric SA
- Subnet Solutions Inc.
- Open Systems International Inc. and others Major Players.
Key Industry Developments in Intelligent Electronic Devices Market:
- In September 2021, Toshiba Electronic Devices & Storage Corporation has designed a model-based development (MBD) simulation technology that shortens verification times for automotive semiconductors by about 90 percent. The technology enables automotive equipment developers to fast evaluate designs using Toshiba's automotive semiconductors, assisting to shorten development times.
- In February 2019, Leuze Electronic presents new advances in the management of industry 4.0. applications with its latest smart core cables. With the abrupt transformations of the smart factory not for away, the smart core cables allow inventive measurements of predictive maintenance specifically for utilization with mobile cables such as handling robots, welding robots, moving cables.
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Table Of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
3.1 By Type
3.2 By Industry Vertical
3.3 By Application
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Intelligent Electronic Devices Market by Type
To Be Continue….
Reasons To Purchase The Report:
- To identify the main subsegments of the Intelligent Electronic Devices market to comprehend its structure.
- Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Intelligent Electronic Devices manufacturers for the next few years.
- To examine the Intelligent Electronic Devices in terms of specific expected growth, career outlook, and market share contribution.
- Analyse commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
- To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
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