A recent market intelligence report that is published by Data Insights Partner on the global Intelligent Electronic Devices Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Intelligent Electronic Devices Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Intelligent Electronic Devices Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Intelligent Electronic Devices Market is offered. In accordance with the report, the global Intelligent Electronic Devices Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Intelligent Electronic Devices (IEDs) are microprocessor-based integrated controllers of apparatus in the power system in the context of electric power industry. The power system apparatus includes capacitor banks, transformers and circuit breakers. IEDs collects information from power equipment and sensors and can deliver control commands which include tripping circuit breakers if they assume voltage or frequency anomalies. In order to balance in the required voltage level, they can make variations in their tap position.
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Intelligent electronic devices are basically advanced technical products. With rapid modernization and the technological upgradation, the initial impetus for the intelligent electronic devices market is been given. The electronic sector is constantly evolving and finding application in various sectors. The digitalization of the power and energy sector is driving this market.
The development of “smart everything” including smart phones, smart homes, and smart cities are charging the growth of this market. The application of Internet of Things (IoT) in the diversified sector that can be generalized into commercial and industrial sector is driving the growth of the intelligent electronic devices market.
The structural development of various smart grid projects across the globe coupled with the budget approval, public-private partnerships, and various others incentives provided by the governments of different nations are accelerating the growth of this sector.
IEDs perform a variety of functions. It informs power fault events in the occurrence of system failures. It is a crucial part of the system of substation automation. Other functions like metering, controlling, monitoring and communications are also performed by IEDs. The use of this devices reduces the involvement of human capital. The functioning capabilities serve the end-users and propels the market to move ahead.
The requirement of proper distributional channel that could perform in unfavorable environments and also occupies less floor space is gaining momentum because of rapid urbanization and industrialization at a lightening pace and fueling the growth of this market.
Huge capital investment requirement for substations and IEDs are impeding the growth of this market. Moreover, the immoderate expenditure on maintenance and operational activities are further straining this market growth prospects.
The storage of information in this sector is risky. The soaring number of cyber crimes and hacking are hampering the growth of this market.
Technology-based things like IEDs are dynamic in nature are requires constant upgradation. The regularity of updating IED systems are restraining the growth of this market.
The investigation of substation equipment lacks standardized protocols that negatively affects this market.
The undertaking of various projects like smart cities and the provisioning of the governments and their incentives on a worldwide basis is likely to provide lucrative opportunities to this market.
The spurring projects on renewable energy and the governments support to these projects are good scopes for this market.
The evolution of technology and its application in intelligent electronic devices is a bankable opportunity for this market.
The market for intelligent electronic devices is likely to show progress in the forecast period. North America is expected to show dominant market growth due to rising investment in power grid development, soaring demand for substation automation of reasonable prices in the solar power industry and increasing awareness among the people. Asia Pacific is expected to project significant growth because of the adoption of renewable sources of energy and its development, the favorable initiatives taken by the government to sustain the evolution of the power sector, the economic development in these emerging regions.
This market intelligence report on the global Intelligent Electronic Devices Market encompasses market segments based on product type, application type, end user and country.
By Product Type the global Intelligent Electronic Devices Market has been divided into:
q Circuit Breaker
q Smart Meters
q Load Tap Controller
q Digital Relays
By Application Type the global Intelligent Electronic Devices Market has been divided into:
q Condition Monitoring
q Water Supply & Management System
q Traction Signalling & Control System
q Mass Transit System
By End User the global Intelligent Electronic Devices Market has been divided into:
q Water & Wastewater System
q Energy & Power
q Food & Beverages
q Oil & Gas
By country/region, the global Intelligent Electronic Devices Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Leuze Electronic
q Eaton Corporation
q Honeywell International
q Siemens AG
q Cisco Systems
q Crompton Greaves
q NovaTech LLC
q General Electric
q Schneider Electric
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Intelligent Electronic Devices Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
A brand-new smart core cable was launched by Leuze Electronic in February 2019. This product assists in the management of industry 4.0 applications. It is specifically applied in mobile cables such as moving cables, welding robots and many more.
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In July 2017, the introduction of ASV60 Steering Valve was announced by Eaton Corporation. It made lesser cabin noise, more machine flexibility and intelligence.
Ø This study offers comprehensive yet detailed analysis of the Intelligent Electronic Devices Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Intelligent Electronic Devices Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Intelligent Electronic Devices caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Intelligent Electronic Devices Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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