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SHERIDAN, WY, UNITED STATES, December 1, 2021 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Intelligent Electronic Devices Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global intelligent electronic devices market is expected to grow at a CAGR of around 5% during the forecast period 2021-2026.
An intelligent electronic device (IED) represents a microprocessor-integrated device used in industrial control systems (ICS) for the automation of power systems. It is equipped with a human-machine interface (HMI) software for testing, performing, and commissioning fault analysis and real-time synchronization of event reporting. IEDs include circuit breakers, transformers, capacitor banks, voltage regulators, etc. They monitor self and external circuits, perform advanced local control intelligence, provide remote, local and substation data acquisition for network analysis, etc. Consequently, IEDs are extensively used across numerous industries, including automotive, oil and gas, chemicals and petrochemicals, healthcare, energy, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Intelligent Electronic Devices Market Trends:
The increasing automation of industrial processes is one of the primary factors driving the intelligent electronic devices market. Moreover, the escalating need to reduce transmission and power distribution (T&D) losses and the rising instances of fluctuations and outages in power lines are further bolstering the market growth. In addition to this, the emerging trend of substation automation in solar power systems and the inflating demand for renewable energy sources are acting as growth-inducing factors. Furthermore, the government bodies of several countries are focusing on the installation of smart meters in every household. This, in turn, is expected to fuel the intelligent electronic devices market in the coming years since IEDs facilitate power automation with optimal capital assets and minimal human intervention.
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Global Intelligent Electronic Devices Market Coverage and Segmentation 2021-2026:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ABB Ltd., Black & Veatch Corporation, Cisco Systems Inc., CG Power and Industrial Solutions Limited (Avantha Group), Eaton Corporation Inc, Honeywell International Inc, Landis Gyr Inc., Open Systems International Inc., Rockwell Automation Inc., S & C Electric Company, Schneider Electric S.E., Siemens Aktiengesellschaft, Toshiba Corporation and Trilliant Networks Inc.
The report has segmented the market on the basis on region, type and end use industry.
Digital Relay Voltage Regulator Protection Relay Circuit Breaker Load Tap Changer Recloser Controller Capacitor Bank Switch Others
Breakup by End Use Industry:
Automotive Healthcare Oil and Gas Petrochemical Chemical Food and Beverages Energy and Power Waste and Wastewater Treatment Others
North America: (United States, Canada) Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others) Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others) Latin America: (Brazil, Mexico, Others) Middle East and Africa
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Key highlights of the report:
Market Performance (2015-2020) Market Outlook (2021- 2026) Porter’s Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson IMARC Services Private Limited +1 6317911145 email us here
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