Intelligent Electronic Devices Market Size, Share And Global Trend By Type (Digital Relay, Voltage Regulator, Protection Relay, Circuit Breaker Controller, Load Tap Changer Controller, Recloser Controller, Capacitor Bank Switch), By Application (Automation, Condition Monitoring, Traction Signalling & Control System), By Industry Vertical (Automotive, Energy&Power, Food & Beverages, Pharmaceutical), And Regional Forecast, 2024-2032

Intelligent electronic devices (IED) are used to provide advanced power automation for industrial control systems (ICS). It is utilized for the group of purposes in power monitoring, metering, control and communication. They are majorly used for supervisory control and data acquisition (SCADA) or distributed control systems (DCS). In the manufacturing industry, the advanced version of IoT, the Industrial Internet of Things (IIoT), has emerged as an extension of automation and connectivity, which was present in a plant environment for decades as machine-to-machine (M2M) communication.

The advances in electronic technologies have enabled the development of compact and intelligent devices. Intelligent devices communicate between the components attached to the body, such as data spectacles, headphones, microphones or sensors, by its wireless connections between the individual components perform self-diagnosis by monitoring internal signals for evidence of faults. With the progress in innovation, many intelligent medicinal devices have been developed that automatically predict serious health issues even before the patient feels sick. Another intelligent devise application is smart card known as a Wireless Identity Module (WIM) is similar to the Subscriber Identity Module (SIM). It is used on existing GSM cellular phones. The smart card by methods for encryption and digital signatures ensures maximum security for web based business exchanges by giving verification of the gatherings required.

The concept of smart packaging is increasing in food and healthcare industry as time and temperature indicators, freshness indicators and gas indicator for indicating the toxic composition of the gases produced from decomposing food in a food container that can endanger the health of consumers are some major example among others.  Other applications of intelligent devices are deploying the intelligent devices solution as smart menu at the restaurants, optimizing video surveillance, efficiencies with robust streaming encoders, keeping a keen eye on your city, applying all-in-one connected gateways for next generation smart community, automating airport baggage drop-off, building a safer city with intelligent hazard mitigation system among others.

KEY PLAYERS COVERED

The key players providing intelligent electronic device module are ABB Ltd, Schneider Electric S.E., Siemens Corporation, Black & Veatch Corporation, Eaton Corp PLC, SUBNET Solutions Inc., Honeywell International Inc., Rockwell Automation Inc., Cisco Systems Inc., GE Open Systems International, Inc., Systems Inc., and S&C Electric Co., among others. Eaton has introduced for mobile off-highway equipment in the construction, agribusiness and material taking care of enterprises; the valve permits machine architects to tailor gear directing execution to the administrator's driving propensities or working conditions and sets the phase as the establishment for independent vehicles.

GE has built up an integrated control solution that cautiously screens and progressively manages when, where, and how much water is utilized and reused at various focuses in the mechanical procedure, and gives hands-on, program showed information that can be gotten to from any area with web get to. In boiler controls and power plant, intelligent power plants help to save resources of primary energy (coal and solar photovoltaic power) by avoiding shut downs to balance the system.

SEGMENTATION

REGIONAL ANALYSIS

Increasing awareness of adopting renewable energy and rise in government initiatives in the energy and power sector are the major reasons for the increasing demand for intelligent device market in developing regions. Asia-Pacific region has immense growth potential in this market. According to present analytical results of industry experts, more than 40 billion devices are expected to be digitally connected. Europe is also anticipated to contribute significantly to the growth of intelligent electronic devices market during the forecasted period. The smart sensor market is expected to go beyond US$ 1.5 Bn in Europe. With the growth in the automation market, the demand for intelligent electronic devices is expected to increase to help monitor and protect power transformers from overcurrent and overvoltage damages. North America is the leading contributor in using more automotive devices and controlling based industry process. Industry 4.0 is a budding industry for intelligent sensors.