Global Intelligent Electronic Devices Market: Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Intelligent Electronic Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global intelligent electronic devices market report has been segmented on the basis on type, application, end user, and region.

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Global Intelligent Electronic Devices Market: Overview

Intelligent electronic devices (IED) is a device that is added into industrial control systems (ICS) in order to enable advanced power automation system. These intelligent electronic devices are used for power control, communications, monitoring, and metering. Intelligent electronic devices offer microprocessor-based circuit breaker controllers, voltage regulators, and protection relays, etc.

Global Intelligent Electronic Devices Market: Dynamics

Growing upgradation of technologies and rapid urbanization are key factors expected to drive the global intelligent electronic devices market growth. In addition, increasing inclination of various intelligent electronic devices such as smart meter, digital relays and PLCs are expected to create significant potential for growth of the global intelligent electronic devices market. This is a factor fueling growth of the intelligent electronics devices market.

Rising demand for internet of things (IOT) across various industries in order to aid various appliances such as smart phone and smart cities is a key factor projected to boost growth of the global intelligent electronic devices market.

In addition, increasing adoption of intelligent electronic devices in both commercial and non-commercial applications across the globe is a factor expected to support growth of the global intelligent electronic devices during the forecast period.

However, lack of protocols for interrogation of substation equipment in the market is a major factor projected to hamper the global intelligent electronic devices market growth. In addition, high cost of electronic devices is a factor projected to hamper the global intelligent electronics devices market to a certain extent growth.

Global Intelligent Electronic Devices Market: Segment Insights

Among the type segments, the digital relay segment is expected to account for highest revenue share in the global intelligent electronic devices market, as voltage regulators require very low maintenance and have good line isolation.

Among the end user segments, the automotive segment is expected to account for highest revenue share in the global intelligent electronic devices market, owing to increasing adoption these new technologies in the automotive industry across the globe. The healthcare segment is expected to account for significant revenue share in the global market and is expected to register considerable growth, owing to increasing investments by major players and government of various countries in the healthcare infrastructure development across the globe.

Global Intelligent Electronic Devices Market: Region Insights

Market in North America accounted for highest revenue share in the global market followed by the market in Europe, owing increasing investment for modernization of infrastructure in countries in the region.

Market in Asia Pacific is projected to register a significant growth in the global market, owing to growing awareness regarding intelligent electronics device in countries such as India, China, Japan in the region.

The markets in Middle East & Africa and Latin America, are expected to register moderate growth in terms of revenue, owing to rising number of renewable energy projects in countries in these regions.

Global Intelligent Electronic Devices Market Segmentation:

Segmentation by Type:

• Digital Relay
• Voltage Regulator
• Protection Relay
• Circuit Breaker Controller
• Load Tap Changer Controller
• Recloser Controller
• Capacitor Bank Switch

Segmentation by Application:

• Mass Transit System
• Traction Signaling & Control System
• Water Supply & Management System
• Automation
• Condition Monitoring

Segmentation by End User:

• Automotive
• Pharmaceutical
• Oil & Gas
• Petrochemical
• Health Care
• Food & Beverages
• Energy & Power
• Water & Wastewater Treatment

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa