Global Intelligent Electronic Devices Market Growing at a CAGR of 7.2% by 2031
Category : Semiconductor And Electronics | Published Date : Jun 2024 | Type : Press Release
Intelligent Electronic Devices Market Scope & Overview :
Intelligent Electronic Devices (IEDs) are incorporated into Industrial Control Systems that allow variable power automation capabilities. These are primarily microprocessor–based electric components including regulatory devices and circuit controllers.
Consegic Business Intelligence analyzes that the Global Intelligent Electronic Devices Market size was valued at USD 11.79 Billion in 2022, projected to grow by USD 12.36 Billion in 2023, and is expected to register a CAGR of 7.2% to reach USD 21.55 Billion in 2031.
This report comprises Intelligent Electronic Devices Market Share, Size & Industry Analysis, By Type (Voltage Regulator, Protection Relays, Meters Controllers, Communication Devices, Circuit Breaker, and Others), By Application (Metallurgical Process Plants, Environmental Control Instruments, Pharmaceutical Manufacturing, Food and Food Processing, Sewage Treatment Plants, Quality Control Systems, and Others), By End Use (Power & Energy, Automotive, Healthcare, Consumer Electronics, Food & Beverages, and Others), By Region(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on the Intelligent Electronic Devices Market Growth Rate, Value, Segmentation, Geographical Coverage, Trends, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report's analysis, the growing demand for energy, power, and smart grid technology is the key intelligent electronic devices market driver, as IEDs are used for communication between devices, and improve the grid's efficiency, reliability, and security.
Segmental Analysis :
The Intelligent Electronic Devices Market is segmented into four major segments based on type, application, end-use, and region.
Based on type, the market is segmented into voltage regulators, protection relays, meter controllers, communication devices, circuit breakers, and others.
- The protection relays segment accounted for the highest market share in 2022, due to its vital role in the power grids. It ensures safety and detects and isolates faults preventing damage to equipment and loss of power.
- The communications device segment is expected to register the fastest CAGR during the forecasted period, as they are essential for connectivity.
On the basis of the application, the market is segregated into metallurgical process plants, environmental control instruments, pharmaceutical manufacturing, food and food processing, sewage treatment plants, quality control systems, and others.
- The metallurgical process plants segment held the highest market share in 2022, as IEDs monitor and control processes in the metallurgical plants.
- The environmental control instruments segment is anticipated to register the fastest CAGR during 2023-2031.
Based on the end-use, the market is divided into power & energy, automotive, healthcare, consumer electronics, food & beverages, and others.
- The power and energy segment held the largest market share of 31.5% in 2022, as the IEDs monitor and control the power grid.
- The automotive segment is expected to grow at the fastest CAGR from 2023 to 2031, due to wide IED applications in the sector including controlling safety systems, collecting data, and others.
By region, the market is segmented into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, the North American region has the largest revenue share of USD 5.15 Billion.
- The Asia-Pacific region is expected to grow at the fastest CAGR of 7.4% during the forecasted period, as the region is urbanizing rapidly.
| Report Attributes | Report Details |
| By Type | Voltage Regulator, Protection Relays, Meters Controllers, Communication Devices, Circuit Breaker, and Others |
| By Application | Metallurgical Process Plants, Environmental Control Instruments, Pharmaceutical Manufacturing, Food and Food Processing, Sewage Treatment Plants, Quality Control Systems, and Others |
| By End Use | Power & Energy, Automotive, Healthcare, Consumer Electronics, Food & Beverages, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging trends and dynamics in partnerships.
List of prominent players in the Intelligent Electronic Devices Industry :
- Hitachi Energy Ltd.
- Rockwell Automation Inc.
- Black & Veatch Corporation
- Eaton Corporation Inc.
- Toshiba Corporation
- Schneider Electric
- Cisco
Recent Industry Developments :
- In February 2023, Toshiba Electronic Devices & Storage Corporation launched two intelligent power devices (TPD2015FN and TPD2017FN) with capabilities to control the drive of the inductive loads of motors and lamps.
