Intelligent Electronic Devices Market, by Type (Protective Relaying Device, On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Recloser Controller, Voltage Regulator, Digital Relay, Others), by Application (Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation, and Condition Monitoring), by Vertical (Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical, Chemicals, Others), — Forecast till 2027

Intelligent Electronic Devices Market Size and Overview 

Globally, the size of intelligent electronic devices market is set to grow at a CAGR of 9.04% from a value of USD 10.55 billion in 2018 to hit USD 17.09 billion by 2027 driven by the demand for intelligent electronics is rising, and the adoption rate of this market is growing rapidly in the forecast period.Intelligent Electronic Devices have a high purpose in the industrial control system. There are plenty of uses of this technology in industries. There is a human-machine interface (HMI) feature in this device. Further, testing, performing, and commissioning are applications of this device. There is a fault analysis function that is unique in this device.

Further, real-time synchronization of the programs in the enterprise is a feature of this device. Further, it can do plenty of organisational tasks such as event reporting. There are other purposes such as monitoring, external circuit’s evaluation and control intelligence of this device. Also, there are remote control applications on this device. Local and substation data retrieving is possible through its network analysis feature.

There are many numbers of industries that have the use of intelligent electronics. Automotive, chemicals & petrochemicals, energy and power, oil & gas, food and beverage, healthcare and water treatments industries have higher use. There is both product and services segment of this market. The water treatment segment of the market is witnessing higher shares of intelligent electronics. By vertical, the oil and gas segments have exceptional demand. Intelligent Electronic Devices Market Forecast shows these factors will cause the highest value. 

COVID Analysis 

The outbreak of covid 19 is affecting the operations of various industries. There are plenty of factors that impede global businesses. Supply chain disruptions and a slowdown in production are factors that affect intelligent electronic devices market growth. There are plenty of restrictions for trade activities. Uncertainties of the market are causing losses in the market. The Intelligent Electronic Devices Market is facing a downfall in this period.

Both direct and indirect factors affect intelligent electronic devices market growth. The production of the intelligent electronics market is declining. The availability of raw materials for the market is reducing. Also, the manufacturing facilities have a lesser workforce. The spread of the virus is rapid in these sectors. Due to there is the loss in this market. However, from 2021 the intelligent electronic devices market operations are slowly resuming. End-users of the market are raising their demand. The next few years are crucial for any market. Industries are regaining their profits. Due to this, new developments will create a positive impact. 

Market Dynamics 

• Crucial Market Drivers 

The rising demand for smart grids is a crucial driver of the intelligent electronic devices market. The need for intelligent electronics is growing in the smart grid sector. The need for smart grids is higher in industries. Industries are crucial places for high entry consumption. With this, the importance of smart gird rise. It ultimately favors the intelligent electronics market.

Further, the rising automation activities in industries are other market drivers. Automation is a crucial part of industries. Automation makes tasks easier and more efficient in industries. The increased production rate and revenue rate are some of the benefits. Automation will create more demand for intelligent electronics. It is an excellent device that comes with plenty of automation features.

The productivity of any organisation is higher with this device. Furthermore, there is a growing incidence of power fluctuations in industries. Especially, the developing regions witness such power outages. Due to this, the demand for intelligent electronics are rising, the adoption rate of this market is growing rapidly in the forecast period. Power line management and high power consumption are a few of the benefits in this market. As per Intelligent Electronic Devices Market Analysis these factors will contribute to high growth.

• Market Growth Opportunities 

The technological advancements will create Intelligent Electronic Devices Market opportunities. There are continuous developments in this equipment. These developments lead to higher benefits of this product. In the upcoming years, advancements in Intelligent Electronic Devices Market are plenty.

There is high demand for integrated circuits that are sharply rising. The IC manufacturers are early adopters of the developed Intelligent Electronic Devices. The benefits of this integration are ultra-low energy consumption and ultra-high machine performance. China is a powerful IC manufacturer. Due to the Intelligent Electronic Devices technological improvement, the demand from this region is high. 

Low cost is another factor for the exponential adoption rate of this equipment. In the upcoming years, these developments in the market will attract more emerging economies. Furthermore, the rising investments will lead to high research on the market. The hybrid versions are is the result of extensive research in the market. The governmental support for high research on the market will bring favourable changes. The growth prospect of the market is massive in the next few years. All these factors will contribute to the high profitability of the intelligent electronic devices market. 

• The Market Restraints 

High investment in Intelligent Electronic Devices is a significant challenge in the market. In recent years, the price of raw materials is rising. Due to the covid 19 and shipment problems, the profit margin is inconsistent for the intelligent electronic devices market. The raw material price increases the overall cost of this product. It is a device that offers high-cost savings in the long run. However, the initial cost is a problem for many markets. 

Delayed investment by key players is another problem in this period. In this situation, many key players suffer from a lack of funds to invest in the intelligent electronic devices market. The high cost of investment requiring Intelligent Electronic Devices adoption poses a challenge to this market. Due to this, the production rate and demand can decline. The overall expansion rate of the market is decreasing. 

• The Market Challenges 

There is a lack of standard protocol to integrate Intelligent Electronic Devices. There are intelligent devices markets across the globe. Each region witnesses dynamic demand from end-users. Also, the standards of integration vary in every region. There are both products and service segments in the intelligent electronic devices market.

Deployment is a crucial aspect that reflects in revenue rates. However, a lack of standardization can cause market inconsistency. Many key players do not follow any protocol. This can cause both good and negative experiences for the end-users. This market inconsistency is a crucial challenge in the forecast period. 

• The Cumulative Growth Analysis 

Intelligent Electronic Devices Market Trends are positive in the forecast period. There are plenty of factors that boost as well as restrict the market growth. The crucial drivers are demand from the smart grid. The adoption of a smart grid has a positive effect on the intelligent electronic devices market.

Further, the adoption of automation in industries is another factor leading to growth. Also, demand from developing regions plays a crucial role. However, the high initial cost can restrict growth. Lack of standardization is a challenge in this market. With technological developments, the growth of the intelligent electronic devices market is high. 

• Value Chain Analysis 

North America will hold the highest Intelligent Electronic Devices Market Share. The smart grid projects are massive in the region. Also, the investments to support these developments are higher. There are key players in the market who take plenty of initiatives. Further, there is less impact of cost barriers in the intelligent electronic devices market.

The high spending power and investments will offer high growth possibilities. The need for a solar-powered substation is growing in this region. It is another factor that will bring a positive impact on this market. All these factors will make North America the profitable market. 

Segment Overview 

Breakup By Type:

• Voltage Regulator


• Protection Relay


• Digital Relay


• Load Tap Changer


• Recloser Controller


• Circuit Breaker


• Capacitor Bank Switch


• Others

Breakup by End-Use Industry:

• Healthcare


• Oil and Gas


• Automotive


• Chemical


• Food and Beverages


• Petrochemical


• Waste and Wastewater Treatment


• Energy and Power


• Others

By Region

The U.S.

• Canada


• North America


• Mexico

Europe

• the UK


• France


• Germany


• Rest of Europe


• Italy

Asia-Pacific

• Japan


• India


• South Korea


• 
  China
  
  
  
  • Rest of Asia-Pacific
  
  
  • Latin America
  
  
  • the Middle East
  
  
  • LAMEA
  
  
  • Africa
  
  
  
  

Competitive Landscape 

Competition in the Intelligent Electronic Devices market is moderate. New entry of key players is expected in the forecast period. There are innovations and developments in the market. The key player’s strategies are acquisitions, partnerships, expansion and collaborations. 

Regional Analysis 

The Intelligent Electronic Devices market is diversified into Asia Pacific, Europe and North America. North America is a leading region with a high number of shares. There is high scope for the growth and expansion of intelligent devices in this market. Further, the high adoption of technology will boost intelligent electronic devices market growth.

The performance of key players will create high opportunities in the intelligent electronic devices market. Further, Asia Pacific is the next largest market with a high number of shares. Renewable energy projects are rising in this region. Plus, government initiatives are another driver in this market. Europe is a market with high scope for intelligent electronics. Many industries witness the rapid adoption of electronic devices in Europe. 

The key players of Intelligent Electronic Devices market are 

Report Overview