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With 9.6% CAGR, Intelligent Electronic Devices Market to Hit USD 17.3 Billion by 2027 | IMARC Group

According to the latest report by IMARC Group, titled “Intelligent Electronic Devices Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027”, The global intelligent electronic devices market size reached a US$ 10.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.3 Billion by 2027, exhibiting a CAGR of 9.6% during 2022-2027

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 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.

Intelligent Electronic Devices Market

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, as well as the rising demand for renewable energy sources, are driving growth.

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 2022-2027:

Competitive Landscape:

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:

  • 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

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

Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=2422&flag=C

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • 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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About Us

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.

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