Intelligent Electronic Devices Market Scope
Intelligent electronic devices (IEDs) are advanced tools utilized in various industrial sectors, particularly in power systems, to observe, manage, and safeguard electrical networks. These devices possess considerable computing power, enabling them to process large amounts of data in real time and make independent decisions or adhere to predefined algorithms. IEDs play a vital role in ensuring the reliability, effectiveness, and safety of electrical infrastructure by executing fault detection, voltage regulation, and load balancing tasks. They are commonly implemented in substations, distribution networks, and other critical elements of the power grid. These devices are equipped with communication interfaces that facilitate smooth integration into supervisory control and data acquisition (SCADA) systems or other connected environments, as well as the ability to function in challenging industrial settings. Therefore, the global rise of advanced technologies, including IoT, is driving the intelligent electronic devices market on a global scale. Even a slight change in recorded values and actual values of IEDs can lead to substantial losses across numerous sensitive applications. Consequently, the risk of data inaccuracy may constrain the intelligent electronic devices market to some degree on a global level. Conversely, the multiple advantages provided by intelligent electronic devices, such as operation improvement and optimization of capital assets with minimal human involvement, are expected to further bolster market growth in the coming years.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | Siemens Corporation (Germany), Schneider Electric (France), Eaton Corp. (Ireland), ABB (Switzerland), SUBNET Solutions (Canada), Honeywell International (United States), Black & Veatch (United States), Cisco Systems (United States), Landis+Gyr (Switzerland) and BPL Global (United States) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Siemens Corporation (Germany), Schneider Electric (France), Eaton Corp. (Ireland), ABB (Switzerland), SUBNET Solutions (Canada), Honeywell International (United States), Black & Veatch (United States), Cisco Systems (United States), Landis+Gyr (Switzerland) and BPL Global (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Toshiba Corporation (Japan), Open Systems International (United States), Rockwell Automation (United States), S&C Electric (United States) and Schweitzer Engineering Laboratories (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Intelligent Electronic Devices market by Type , by Application (Traction Signaling and Control System, Mass Transit System, Water Supply and Management System, Condition Monitoring and Automation) and Region with country level break-up.
On the basis of geography, the market of Intelligent Electronic Devices 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).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In February 2023, Toshiba Electronic Devices & Storage Corporation launched two intelligent power devices that control the drive of the inductive loads of motors, solenoids, lamps, and other devices used in applications, such as the programmable logic controllers of industrial equipment. The new products use Toshiba’s analog device consolidation process (BiCD) to achieve an on-resistance of 0.4Ω (typ.) in the output stage, over 50% lower than that of Toshiba’s current products.
In 25 March 2024, Cisco announced the launch of new purpose-built, multifunctional devices that deliver modernized collaboration experiences to today's hybrid workforce. The company launched the Cisco Board Pro G2, an AI-fueled and touch-enabled collaboration device and Cisco Desk Phone 9800 Series, which are designed to bring a modern and personalized productivity hub to any desk.
Influencing Trend:
Rising Focus on Smart Grid Integration
Market Growth Drivers:
Growing Number of Renewable Energy and Rapid Urbanization and Industrialization
Challenges:
Increasing concern of data security
Restraints:
High production cost
Opportunities:
Increasing demand in the power and energy sector and Rising demand for smart grid technology
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others