Intelligent Electronic Devices Market Outlook and Overview by Research Cosmos
Intelligent Electronic Devices Market Size and Growth Rate:
According to the Research Report, the Intelligent Electronic Devices Market Size has valued USD 10.55 billion in 2017 and is expected to reach USD 17.09 billion by the end of the year 2023, increasing at a CAGR of 9.04% during the forecast period 2017-2023.
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Intelligent Electronic Devices Market Drivers and Growth:
Intelligent electronic device market is having a constant growth from the past decade and it is estimated to continue the same in the forecast period. Intelligent electronic devices refer to microcontrollers based on power equipment systems such as circuit breakers, transformers and capacitor banks. These devices are connected with sensors where they receive data from the sensors and also can control through commands. Intelligent electronic devices maintain the constant flow of voltage, current or frequency. They have the ability to self monitor and also provide advanced communication capabilities.
The growing prevalence of the electronic goods so as to control over load and also to protect from various faults in real time is key driving factor for the market. In addition, the rapid increase in support from the government in investment of huge amount on the applications of these devices is fueling the growth of the market. The growing concepts of internet of things along with increasing speed of internet across the world are accelerating the demand of this market.
However, fluctuations in the availability of the raw materials are slightly to restrain the growth of the market. Lack of sufficient knowledge over the advanced technological developments among market developers is inhibiting the demand of the market.
The increasing demand from the water supply and management system where intelligent electronic devices play crucial role in monitoring the applications very effectively is surging the growth opportunities of the market. The rise in urban capitalization and industrializations is lavishing the demand of the market in the future period.
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Intelligent Electronic Devices Market Regional Presence:
Geographically, the market is held by Asia Pacific. The adoption of latest technical developments for the systems and are performing greatly in the real time applications by lowering the complications are mainly boosting up the demand of the market in this region. North America is next in dominating the shares of the market with the increased demand for electronic consumer goods and also rises in internet of things. Europe is growing significantly from the past years without any declined growth and is also anticipated to have fastest growth rate in the future period.
Few of the companies dominating the Intelligent Electronic Devices Market Profiled in the Report are:
• ABB Ltd. (Switzerland)
• Schneider Electric (France)
• Siemens AG (Germany)
• Cisco Systems, Inc. (U.S.)
• General Electric (U.S.)
• Eaton Corporation Plc (Ireland)
• Honeywell International, Inc. (U.S.)
• Schweitzer Engineering Laboratories, Inc. (U.S.)
• NovaTech LLC (U.S.)
• Crompton Greaves (India)
Intelligent Electronic Devices Market- Detailed Segmentation:
By Type:
• Protective Relaying Device
• On-Load Tap Changer Controller
• Circuit Breaker Controller
• Capacitor Bank Switch
• Recloser Controller
• Voltage Regulator
• Digital Relay
By Application:
• Mass Transit System
• Traction Signaling & Control System
• Water Supply & Management System
• Automation
• Condition Monitoring
By Vertical:
• Oil & Gas
• Food & Beverage
• Automotive
• Energy & Power
• Pharmaceutical
• Chemicals
• Others
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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