Global Intelligent Electronic Devices Market growing at a CAGR of 7.2% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Sep 2023
Key Market Overview
The Global Intelligent Electronic Devices Market was valued at USD 11.79 Billion in 2022 and is expected to grow by USD 12.36 Billion in 2023 to register a compound annual growth rate of 7.2% to reach USD 21.55 Billion in 2031.
The report highlights the growing demand for intelligent electronic devices from various industries for varied applications. Consegic Business Intelligence provides an inclusive research report on the intelligent electronic devices market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Intelligent Electronic Devices Market By Overview
The report analyses significant segments such as type, application, end use, and region to identify emerging trends and potential opportunities. The end use segment is expected to grow due to the rising adoption of electric vehicles to control the engine, transmission, and other components of the powertrain. Moreover, the power & energy segment is projected to drive the market growth for intelligent electronic devices due to the demand for monitoring and controlling the power grid.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand for intelligent electronic devices in power and energy sector is driving the market growth
- Rising demand of IEDs for smart grid technology is driving the market growth
Restraints:
- Increasing risks of cyberattack and security of critical infrastructure is restricting the market growth
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Voltage Regulator, Protection Relays, Meters Controllers, Communication Devices, Circuit Breaker, and Others |
| By Application | Metallurgical process plants, Environmental control instruments, Pharmaceutical manufacturing, Food and food processing, Sewage treatment plants, Quality control systems, and Others |
| By End Use | Power & Energy, Automotive, Healthcare, Consumer Electronics, Food & Beverages, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global intelligent electronic devices market is highly competitive due to the presence of major players such as Analog Technologies, Inc., Analog Devices, Inc., Microchip Technology Inc., and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in intelligent electronic devices market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Hitachi Energy Ltd.
- Rockwell Automation Inc.
- Toshiba Corporation
- Black & Veatch Corporation
- Eaton Corporation Inc.
- Schneider Electric
- Cisco