Global Intelligent Electronic Devices Market size to touch USD 20.74 billion, at a 5.3% CAGR by 2030

The Global Intelligent Electronic Devices Market size is expected to grow from USD 13.72 billion in 2022 to USD 20.74 billion by 2030, at a CAGR of 5.3% during the forecast period (2023-2030).

Market Overview:

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 maintaining the desired level. 

A typical IED can hold around 5-12 protection functions, 5-8 control functions managing separate devices, self-monitoring functions, communication functions, and others.

Top Key Players in the Intelligent Electronic Devices Market:

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.

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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels.

For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Intelligent Electronic Devices Market:

Drivers:

Growing Requirements for Substation Automation Solutions in The Solar Industry

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 rebuilding of conventional substations are probably to influence the market in the upcoming years.

Opportunities:

Growing Automation of Industrial Processes

The increased number of IoT applications such as smart cities, homes & and grids, and other industries has helped to grow the number of possibilities. The increase in demand for smart devices that 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.

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Segmentation Analysis of the Intelligent Electronic Devices Market:

By Industry Vertical, the intelligent electronic devices market has been classified into food & and beverage, oil & and gas, automotive, energy & and power, pharmaceutical, chemicals & and others. In terms of revenue, the automotive segment registered for a maximum market share and is anticipated to expand at a significant CAGR during the forecast period.

By Application, the global intelligent electronic devices market has been classified into water supply & and management systems, mass transit systems, traction signaling & and control systems, and automation & and condition monitoring.

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 Signaling & Control System
• Automation & Condition Monitoring

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Regional Analysis of 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 the continuously growing urban population in the region, especially in emerging countries such as China and India.

The intelligent electronic devices market in the Asia Pacific is anticipated to observe more innovations and developments shortly, as several leading manufacturers are investing in research and development activities.

By Region:

• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key Industry Development:

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 evaluate designs using Toshiba's automotive semiconductors, assisting in shortening development times.

In February 2019, Leuze Electronic presented 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 away, the smart core cables allow inventive measurements of predictive maintenance specifically for utilization with mobile cables such as handling robots, welding robots, and moving cables.

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