Intelligent Electronic Devices Market - Forecast(2024 - 2030)
Intelligent Electronic Devices Market size is analyzed to grow at a CAGR of 7.8% during the forecast period 2022-2027 to reach $19.31 billion by 2027. In the electric power industry, an Intelligent Electronic Device (IED) is a word used to designate microprocessor-based controllers of power system equipment. Intelligent Electronic Devices take data from sensors and power equipment and can give control commands such as tripping circuit breakers or raising/lowering voltage levels to maintain the desired level if they detect voltage, current, or frequency anomalies. In order to enable enhanced power automation, an intelligent electronic device is added to industrial control systems. This device is designed for a variety of applications including communication, metering, network monitoring, and control. Intelligent Electronic Devices?Increase Availability,?Power Quality?in Power Distribution Networks. The Smart Grid idea, as well as the development of Distributed Generator (DG), necessitates the acquisition of equipment capable of managing various power flows. Significant technological improvements are being made in the intelligent electronic devices sector, which is still in its early stages of growth. The use of these devices for power fault reporting in a variety of industrial products such as control circuit breakers, capacitor bank switches, and voltage regulation, as well as an increase in efforts to reduce T&D losses, are expected to propel the Intelligent Electronic Devices Market during the forecast period.
?????????????? ???????????? ???????????? ???????????? : @ https://tinyurl.com/2vv66hnx
Report Coverage
The report: “Intelligent Electronic Devices Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Intelligent Electronic Devices industry.
By Product Type: Protective Relaying Device, On-Load Tap Changer Control, Circuit Breaker Controller, Capacitor Bank Switch, Reclose Controller, Voltage Regulator, Digital Relay, Others By Application: Mass Transit System, Traction Signaling and Control System, Water Supply and Management System, Automation, Condition Monitoring By End-User: Oil and Gas, Food and Beverage, Automotive, Energy and Power, Healthcare and Pharmaceutical, Chemical, Others By Geography: North America, South America, Europe, APAC, and RoW
Key Takeaways
Intelligent Electronic Devices Market Segment Analysis – By Product
By Product, the Intelligent Electronic Devices Market has been segmented into Protective Relaying Device, On-Load Tap Changer Control, Circuit Breaker Controller, Capacitor Bank Switch, Reclose Controller, Voltage Regulator, Digital Relay, Others. In 2021, the Digital Relay segment accounted for the largest segment in the Intelligent Electronic Devices Market. This is due to an increase in the number of defects caused by power overloading. Voltage regulators come after them. This is because they require less maintenance and have a solid isolation line. A digital protective relay is a type of protective relay that use a microprocessor to monitor power system voltages, currents, or other process parameters in order to detect defects in an electric power system or industrial process system. Digital relays are advanced relays that include numerous protective functions in a single unit, as well as metering, communication, self-testing, and other features. These relays, commonly known as microprocessor type protective relays, detect problems using software-based protection methods. These enhanced qualities of digital relays make them more appealing in the market than others. In August 2021, STMicroelectronics (Switzerland) announced the release of new MasterGaN devices for high-efficiency power conversion in the 45W and 150W range.
Intelligent Electronic Devices Market Segment Analysis - Application
By Application, the Intelligent Electronic Devices Market has been segmented into Mass Transit System, Traction Signaling and Control System, Water Supply and Management System, Automation, Condition Monitoring, Others. The Automation segment is expected to grow at the fastest CAGR of 9.2% during the forecast period 2022-2027. This is owing to a growth in demand for automation in different industries such as healthcare, aerospace, defense, retail, and home appliances. This market is expected to grow at a rapid pace in the coming years. The mass transit system is expanding in conjunction with automation, and this trend is projected to continue in the coming years. Intelligent electronic devices (Intelligent Electronic Devices) provide enhanced power automation capabilities to electronic systems and have thus become embedded in a wide range of automation applications. Notably, the intelligent electronic devices (Intelligent Electronic Devices) market has provided significant income opportunities due to rising sales of these in satisfying the demand for smart electronics in supervisory control and data acquisition systems (SCADA systems) and distributed control systems (DCS). In general, the market is seeing prospects as a result of the growing trend of industrial automation. One of the major factors driving the Intelligent Electronic Devices Market is the rising automation of industrial processes. The rising trend of substation automation in solar power systems, together with the rising need for renewable energy sources, is fueling market expansion. In July 2021, Mitsubishi Electric announced the release of seven new X-Series products, including two HVIGBTs and five HVDIODEs, bringing the total number of X-Series power semiconductor modules to 24. These new products are designed for increasingly large-capacity, small-sized inverters used in traction motors, DC-power transmitters, large industrial machinery, and other high-voltage, large-current equipment.
Intelligent Electronic Devices Market Share Segment Analysis - Geography
By Geography, Intelligent Electronic Devices Market has been segmented into North America, Europe, APAC, South America, and RoW. During the forecast period, North America is expected to grow at the fastest CAGR of 11.3%. Intelligent Electronic Devices are crucial in the automation of substations and the efficient monitoring of power delivery systems. In the power system, Intelligent Electronic Devices are devices that provide electrical protection and monitoring. Because of their wide range of applications in transmission, distribution, collector converters, and switching in a variety of end-use industries, Intelligent Electronic Devices have seen a substantial increase in popularity in recent years. Recent advances in IoT have aided in important IED application areas such as smart homes, smart grids, and smart cities. Because of their tiny size, Intelligent Electronic Devices such as PLCs, smart metres, and digital relays are ideal for usage in substations. These are all trends and driving factors in the IED market in this region. A typical IED may have 5-12 protection functions, 5-8 control functions regulating various devices, self-monitoring functions, communication functions, and so on. As a result, they are appropriately referred to as Intelligent Electronic Devices. Some new IEDs are designed to support the IEC61850 substation automation standard, which provides interoperability and sophisticated communications capabilities. In February 2019, Leuze Electronics launched smart core cables for industry 4.0 applications. Smart core cables enable innovative measurement of predictive maintenance.
领英推荐
Intelligent Electronic Devices Marketnbsp;Drivers
The market is being driven by an increase in device upgrades. Upgrading and modernising the system also increases its efficiency and reduces?its dependency on human labour:
One of the market's driving forces is the increased upgradation of devices. Upgrading and modernising the system also increases its efficiency and reduces its dependency on human workers. Rapid urbanisation is another driving force in this sector. The desire for technology that make people's lives simpler has always been high and is expected to rise further in the near future. As the number of Internet of Things (IoT) applications grows, manufacturers have a lot of opportunities. These applications include everything from smart kitchens to smart cities. As a result, there will be a greater demand for intelligent devices that can give optimal and highly precise results. These gadgets can operate in harsh environments and aid in the removal of flaws. In July 2021, Mitsubishi Electric announced the release of seven new X-Series products, including two HVIGBTs and five HVDIODEs, bringing the total number of X-Series power semiconductor modules to 24. These new products are designed for increasingly large-capacity, small-sized inverters used in traction motors, DC-power transmitters, large industrial machinery, and other high-voltage, large-current equipment.
The rising automation of industrial processes is projected to drive market growth, the market is being driven by the growing requirement to reduce transmission and power distribution (T&D) losses, as well as the increasing occurrences of fluctuation and outages in power lines:
The rising automation of industrial processes is one of the major reasons driving the global IEDs market. Furthermore, the market is being driven by the growing requirement to reduce transmission and power distribution (T&D) losses, as well as the increasing occurrences of fluctuation and outages in power lines. Aside from that, the growing trend of substation automation in solar power systems, in tandem with the rising demand for renewable energy sources, is fueling market expansion. Furthermore, governments in numerous countries are focusing on installing smart meters in every home, which is favourably influencing demand for IEDs because they enable power automation with low capital assets and minimal human intervention. Standard communication protocol advancements have aided in improving the performance of IEDs in monitoring, protection and control, communication, and metering applications. IEDs are utilised in monitoring for trip circuit oversight and event recording. Continuous efforts by industry stakeholders in the energy and power sectors to establish stable power grids, with new technology for substation automation being introduced. This is a key driver for IED applications and is creating revenue opportunities in the intelligent electronic devices industry. Grid modernization projects have accelerated in rising economies around the world in recent years. In June 2021, ON Semiconductor announced its new, full silicon carbide MOSFET module solutions for charging electric vehicles with its 1200V full silicon carbide (SiC) MOSFET 2-PACK modules. This is expected to provide a comprehensive portfolio of wide bandgap devices for high-performance charging solutions.
Intelligent Electronic Devices Market?Challenges
The advancement of technology in intelligent electronic devices minimizes human error and labour expenses, it significantly raises the cost of acquiring such trailers as well as the price of maintaining them, which is limiting the growth of the market:
Although the advancement of technology in intelligent electronic devices minimise human error and labour expenses, it significantly raises the cost of acquiring such trailers as well as the price of maintaining them. This trade-off is what prevents people from purchasing the devices. The rise in cybercrime has also limited the market's expansion. Due to the COVID-19 pandemic, cybercrime has increased by 600%. As a result of the COVID-19 epidemic, fraudsters have increased their use of sophisticated phishing email scams. This is due to the fact that practically all devices operate on data, and if the system is hacked, the information is leaked, allowing the hackers to obtain control of such equipment. As a precautionary measure in response to the rapid outbreak of coronavirus disease (COVID-19), governments in a number of nations have declared complete lockdowns. As a result, market growth is being hampered since top businesses are unable to function at peak efficiency. Once normalcy is restored, the market is expected to rebound.
Intelligent Electronic Devices Industry Outlook
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Intelligent Electronic Devices Market. In 2021, the market of Intelligent Electronic Devices Market share has been fragmented by several companies. Intelligent Electronic Devices top 10 companies include
Recent Developments