Global Intelligent Electronic Devices Market - Snapshot
The intelligent electronic devices market, which is undergoing the initial stage of development, is witnessing significant technological advancements. Use of these devices for power fault reporting in multiple industrial products such as control circuit breakers, capacitor bank switches, and voltage regulators and the rise in efforts to reduce T&D losses are expected to drive the intelligent electronic devices market during the forecast period. There has been significant rise in the adoption of IEDs over the last few years, due to the wide range of their applications in substation automation such as transmission, distribution, collector converter, and switching in multiple end-use industries. The global market for intelligent electronic devices is estimated to reach value of US$ 19.31 Bn by 2026 from US$ 11.31 Bn in 2017, expanding at a CAGR of 6.2% during the forecast period. Furthermore, increase in use of IEDs in SCADA and applications such as overload control, transformer fault protection, and bus fault protection is driving the global intelligent electronic devices market.
Internet of Things (IoT) is a concept rapidly being adopted across various industries, as IoT helps in major applications such as smart homes, smart grids, and smart cities. If backward flow is considered for Internet of Things, the need for intelligent devices that can produce more accurate and optimal results increases. Intelligent electronic devices is a key component in the implementation of technologies such as IoT, as it helps in automation as well as reduction of faults caused otherwise. A close study of recent product launches and developments by key participants active in the global intelligent electronic devices market reveals that application segments such as automation and mass transit system are likely to continue to dominate the market throughout the forecast period. Segments such as water supply & management system and traction signaling & control system are expected to witness rise in the demand during the second half of the forecast period. This rise is attributable to further increase in the adoption by consumers and decrease in the average selling price. Rising urbanization and industrialization is a factor driving the demand for intelligent electronic devices in both commercial and non-commercial applications. However, the intelligent electronic devices market faces challenges such as high maintenance associated with IEDs, ever-changing need for dynamicity in several industries, and wider scope for functionalities.
With growing urbanization and industrialization, the need for distribution systems that function in harsh environments and occupy less space has been rising. IEDs such as PLCs, smart meters, and digital relays are optimal for use in substations. This creates significant potential for growth of the global intelligent electronic devices market.
Attracted by the rapid rate of expansion of the market and underlying latent demand, several players are prompted to invest in the market for intelligent electronic devices in terms of technologies, products, and services. Companies ranging from display panel manufacturers to device manufacturers are striving to strengthen their foothold in the intelligent electronic devices market. Some of the prominent players operating in the intelligent electronic devices market and profiled in the study include: ABB Ltd, Schneider Electric S.E., Siemens Corporation, Black & Veatch Corporation, Eaton Corp PLC, SUBNET Solutions Inc., Toshiba Corporation, Honeywell International Inc., Rockwell Automation Inc., Cisco Systems Inc., Open Systems International, Inc., BPL Global Ltd, Systems Inc., S&C Electric Co, and Landis+Gyr Inc. These companies are focusing on expanding their business through strategic acquisitions and partnerships with players operating across several end-use industries.
Global Intelligent Electronic Devices Market: Overview
This comprehensive report by Transparency Market Research analyzes and forecasts the intelligent electronic devices market at the global and regional levels. The report provides analysis for the period from 2016 to 2026, wherein 2018–2026 is the forecast period and 2017 is the base year. An in-depth and unbiased market assessment has been made to provide readers with in-depth and accurate analysis. The report highlights all major trends expected to be witnessed in the intelligent electronic devices market from 2018 to 2026. It also focuses on market drivers, restraining factors, and opportunities in the intelligent electronic devices market during the forecast period. The study provides a complete perspective on the market in terms of value (in US$ Bn) and volume (million units) across various geographies including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).
The report includes detailed value chain analysis, which is focused on providing an extensive view of the global intelligent electronic devices market. Porter’s five forces analysis has also been provided in the report to help understand the competitive scenario in the market. The study includes market attractiveness analysis, wherein market segments have been benchmarked based on their market size, growth rate, and attractiveness in terms of opportunity. In order to offer complete analysis of the competition scenario in the global intelligent electronic devices market, every geographic region mentioned in the report is provided with attractiveness analysis.
A market overview chapter in the report explains market trends and dynamics that include market drivers, restraining factors, and the current and future opportunities for the intelligent electronic devices market. Market outlook analysis for the global market has also been provided in the report. Additionally, the report provides analysis of different business strategies being adopted by leading players in the intelligent electronic devices market. The market introduction chapter helps in gaining an idea of different services related to intelligent electronic devices.
Global Intelligent Electronic Devices Market: Scope of Report
The study provides a decisive view of the global intelligent electronic devices market by segmenting the market in terms of type, application, and end-use industry. The report also provides a detailed breakdown of the intelligent electronic devices market in terms of region and categorizes the market at various levels, thereby providing valuable insights at micro and macro levels.
The report further highlights the competition scenario in the intelligent electronic devices market by ranking all major players according to their geographic presence and key recent developments. Insights for the intelligent electronic devices market is a result of TMR’s extensive primary interviews, secondary research, and in-house expert panel reviews. These market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.
In terms of country, the North America market has been segmented into Canada, U.S., and Rest of North America. The Europe market has been divided into France, Germany, U.K., and Rest of Europe. The intelligent electronic devices market in Asia Pacific has been classified into China, Japan, India, and Rest of Asia Pacific. Middle East & Africa covers GCC, South Africa, and Rest of Middle East & Africa. Similarly, South America comprises Brazil and Rest of South America. This report provides all strategic information required to understand the intelligent electronic devices market along with its type, application, and end-use industry segments.
Global Intelligent Electronic Devices Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources include annual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, etc.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the intelligent electronic devices market across geographies. Primary interviews are usually conducted on an ongoing basis with market experts and participants in order to get the latest market insights and validate the existing data and analysis. Primary interviews offer new information on important factors such as market trends, market size, competition landscape, and growth trends. These factors help validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by the expert panel of TMR.
Global Intelligent Electronic Devices Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global intelligent electronic devices market. These players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players profiled in the report include ABB Ltd, Schneider Electric S.E., Siemens Corporation, Black & Veatch Corporation, Eaton Corp PLC, SUBNET Solutions Inc., Toshiba Corporation, Honeywell International Inc., Rockwell Automation Inc., Cisco Systems Inc., Open Systems International, Inc., BPL Global Ltd, Infrax Systems Inc., S&C Electric Co, and Landis+Gyr Inc. These companies are focusing on expanding their business through strategic acquisitions and partnerships with several end-use industries.
The global intelligent electronic devices market has been segmented as follows:
Global Intelligent Electronic Devices Market, by Type
- Digital Relay
- Voltage Regulator
- Protection Relay
- Circuit Breaker Controller
- Load Tap Changer Controller
- Recloser Controller
- Capacitor Bank Switch
Global Intelligent Electronic Devices Market, by Application
- Mass Transit System
- Traction Signaling & Control System
- Water Supply & Management System
- Condition Monitoring
Global Intelligent Electronic Devices Market, by End-use Industry
- Oil & Gas
- Health Care
- Food & Beverages
- Energy & Power
- Water & Wastewater Treatment
Global Intelligent Electronic Devices Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America