Market Overview
Intelligent electronic devices are used in industrial control systems to enable power systems’ automation. The device is associated with a human-machine interface software for commissioning, testing, performing fault analysis and real-time synchronization of events. It helps in monitoring self and external circuits and performs advanced local control intelligence. It also provides remote, local and substation data acquisition for usage in network analysis. These beneficial features are driving the Intelligent Electronic Devices Market.
These Intelligent Electronic Devices are applicable in various industries such as automotive, energy and power, healthcare, food and beverage (F&B), water oil and gas, chemicals and petrochemicals and wastewater treatment industries.
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The higher automation level operation in industrial processes is one of the key drivers accelerating the Intelligent Electronic Devices Market. Moreover, the rise in need for reduction of transmission and power distribution losses, and the growing instances of outages and fluctuation in power lines, is driving the market. Apart from this, the rise in the trend of substation automation in solar power systems, which enhances the escalating demand for renewable energy sources, is contributing to the market’s growth. The governments are focusing on installing smart meters in households, which is showing a positive influence on the demand for Intelligent Electronic Devices as it facilitates power automation with cost-effective measures and minimal human intervention.
The Intelligent Electronic Devices Market has reached a value of USD 10.55 billion in 2017, and it is expected to reach USD 17.09 billion by the forecast period with a CAGR of 9.04 %.
Market Segmentation
The Intelligent Electronic Devices Market is segregated into type, application and vertical.
The type segment market is categorized into the protective relaying device, capacitor bank switch, recloser controller, on-load tap changer controller, circuit breaker controller, voltage regulator, digital relay, etc.
The application segment is characterized by a mass transit system, water supply and management system, traction signalling and control system, automation, and condition monitoring. The automation segment was the chief segment in 2017, and it will continue to be dominant throughout the review period.
The Intelligent Electronic Devices Market is divided into oil and gas, energy and power, pharmaceutical, chemicals, food and beverage, automotive, and others based on end-users. Under the vertical segment, the oil & gas industry is expected to generate significant revenue share in the intelligent electronic devices market.
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Regional Analysis
According to the regional report, the Intelligent Electronic Devices Market covers regions such as North America, Europe, Asia-Pacific, and the rest of the world, including the Middle East, Africa, and Latin America. Among the above regions mentioned, North America is dominating the intelligent electronic devices market due to an upsurge in investment for smart grid projects and demand for cost-effective solutions for substation automation in the solar industry, accelerating demand for the intelligent electronic devices market in this region.
The Asia-Pacific region is showing potential for growth in this market and a significant CAGR during the forecast period. The rise in the number of renewable energy projects with increasing government initiatives in the energy and power sector are the major reasons for the demand for the devices. Europe is also contributing significantly to the market’s growth during the forecast period.
Industry News
In February 2019, Leuze Electronics launched new advanced management of industry 4.0 applicated with smart core cables.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Intelligent Electronic Devices
5 Market Landscape
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
Continued…
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