According to the latest report by IMARC Group, titled “Intelligent Electronic Devices Market : Global Industry Trends, Share, 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) is utilized in industrial control systems (ICS) to automate the power systems. It incorporates a human-machine interface (HMI) software for testing, commissioning, and performing fault analysis and real-time synchronization of event reporting. It controls self and external circuits, runs advanced local control intelligence, and offers remote, regional, and substation data acquisition in network analysis. As a result, it is widely used across several industries, such as automotive, energy, oil and gas, chemicals and petrochemicals, healthcare, food and beverage, water, and wastewater treatment.
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 growing automation trends pertaining to industrial processes is augmenting the global IEDs market. Moreover, the increasing requirement to minimize transmission and power distribution (T&D) losses, including fluctuation and outages in power lines, is also driving the market growth. In line with this, the growing traction towards substation automation in solar power systems, along with rising demand for renewable energy sources, is further bolstering the market growth. Additionally, several governments are emphasizing on the deployment of smart meters for enabling power automation with optimal capital assets and lesser 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.
Breakup by Type:
Load Tap Changer
Capacitor Bank Switch
Breakup by End Use Industry:
Oil and Gas
Food and Beverages
Energy and Power
Waste and Wastewater Treatment
Breakup by Region:
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
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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