About Industrial Electronics
Industrial electronics refers to equipment, tools, and processes that involve electrical equipment in an industrial setting. The market for industrial electronics has developed mainly to reduce labor fatigue during labor-intensive operations. Automation in industrial machinery has resulted in increased precision, reduced damage which in turn has improved productivity and profit margins. Industrial electronics account for 18% of the total production of electronic goods, second largest after consumer electronics.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Industrial Electronics market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Industrial Electronics Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Industrial Electronics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Altera Corporation (United States), Analog Devices, Inc. (Adi) (United States), Blueradios, Inc. (United States), Cactus Semiconductor, Inc (United States), Dover Corporation (United States), General Electric Company (Ge) (United States), Honeywell (United States), Intel (United States), Maxim Integrated Products (United States) and British Physical Laboratories India Pvt Ltd (BPL) (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Crompton Greaves Ltd (India), Crown Equipment Pty Ltd (Australia), Fuji Electric Holdings Company, Limited, (Japan) and Fujitsu Limited (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Electronics market by Type (Process Control Equipment (PCE), Automaton& Analytical Instruments (A&AI), Power Electronics Equipment (PEE) and Test & Measuring Equipment (T&ME)), Application (Design & Maintenance, Manufacturing and Material Handling) and Region.
On the basis of geography, the market of Industrial Electronics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User Industry, the sub-segment i.e. Automotive will boost the Industrial Electronics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Application of State-Of-The-Art Systems Such As SCADA, PLC and AC Drive Systems across Various Sections of the Industry and Penetration of Artificial Intelligence (AI) Is Improving Process Automation
Market Growth Drivers:
Technical Innovation Is the Key Driver and High Precision Controls Leading To Improved Productivity
Challenges:
High Working Capital Required
Restraints:
Government Standards & Regulations to Minimize E-Waste
Opportunities:
Increasing Investments to Meet the Demands of Increasing Population and Initiatives by Government Encouraging Expansion of Production Facilities
Market Leaders and their expansionary development strategies
In September 2019, Honeywell has recently introduced two new inertial measurement units (IMUs) to provide world-class navigation in a small, lightweight package without compromising on cost. Built to withstand almost any environment in the air, on land or underwater, these small-but-mighty sensors can serve several markets, including agriculture, robotics, survey/mapping, unmanned vehicles, and transportation.
Environmental protection agency (EPA) of the United States has regulated the electronics industry in order to curb the e-waste generated. Twenty-five U.S. states currently have electronics recycling laws. The regulation requires manufacturers of video display devices based in Indiana to collect and recycle 60% by weight of the volume of products they sold in the previous year in Indiana. Manufacturers of computers in Missouri must implement “recovery plans” for the collection of and the recycling or reuse of their obsolete equipment. The recovery plan must be implemented and a copy of the plan submitted to the Department of Natural Resources before the manufacturer can sell its computers in Missouri. There are various other regulations followed by 25 other states in the United States.
Key Target Audience
Industrial Electronics Manufacturer, Industrial Electronics Traders/Distributors/Suppliers, Industrial Electronics Raw Material Supplier, Industrial Electronics End-User, Industrial Electronics Potential Technology Investors and Industrial Electronics Downstream Vendors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.