Market Summary
Global Intelligent Electronic Devices Market Overview:
Intelligent Electronic Devices Market Size was valued at USD 9.704 Billion in 2023. The Intelligent Electronic Devices industry is projected to grow from USD 10.581 Billion in 2024 to USD 19.393 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.87% during the forecast period (2024 - 2032). The increased need for substation automation solutions in renewable energy projects and the growing need for retrofitting conventional substations are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Intelligent Electronic Devices Market Trends
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The rising demand for smart grids is driving the market growth
The market for intelligent electronic devices is greatly influenced by the growing need for smart grids. The increasing need for intelligent electronics in the smart grid sector is evident in the increasing number of projects undertaken. The need for smart grids is especially high in industries, where they can help improve efficiency and safety. Industries play an important role in facilitating high entry into consumption activities. Smart grids are becoming more important as our need for energy grows. The intelligent electronics market will continue to grow in popularity due to its many benefits. This factor drives the Market CAGR.
Other market drivers include the increasing level of automation in various sectors. Industries must include automation. In industries, automation streamlines operations and improves productivity. Among the advantages are the higher income and production rates. Intelligent electronics will become increasingly popular as a result of automation. It is a top-notch gadget with a tonne of automation features. Additionally, this technology increases any organization's productivity. Furthermore, power fluctuations in enterprises are becoming increasingly common. Developing areas are particularly affected by these power interruptions. As a result, there is a developing market for intelligent electronics, and this industry's adoption rate is expected to expand quickly throughout the projection period. High power consumption and power line management are a couple of the advantages in this sector. These elements will lead to rapid development, according to an analysis of the market for intelligent electronic devices. Opportunities in the market for intelligent electronic devices will result from technical improvements. These tools are always being improved. These advancements increase the advantages of this product. There will be many developments in the market for intelligent electronic devices in the next years. Thus, driving the Intelligent Electronic Devices market revenue.
Intelligent Electronic Devices Market Segment Insights:
Intelligent Electronic Devices Type Insights
The Intelligent Electronic Devices Market segmentation, based on type, includes Protective Relaying Devices, On-Load Tap Changer Controllers, Circuit Breaker Controllers, Capacitor Bank Switches, Recloser Controllers, Voltage Regulators, Digital Relays, and Others. The protective relaying device segment dominated the market; the protective relaying device segment is the largest segment of the IED market. This is because protective relaying devices are essential for ensuring the safety and reliability of power grids. Furthermore, the demand for protective relaying devices is growing in emerging markets as these countries invest in expanding and modernizing their power grids.
Intelligent Electronic Devices Application Insights
The Intelligent Electronic Devices Market segmentation, based on Application, includes Mass Transit Systems, Traction Signaling & Control Systems, Water Supply & Management Systems, Automation, and Condition Monitoring. The automation segment dominated the market; this is because automation is becoming increasingly important in various industries, such as manufacturing, energy, and transportation. Furthermore, automation is used to control and monitor a wide range of industrial processes, which helps to improve efficiency and productivity.
Intelligent Electronic Devices Vertical Insights
Based on Vertical, the Intelligent Electronic Devices Market segmentation includes Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical Chemicals, and Others. The energy & power segment dominated the market because IEDs are used to monitor and control a wide range of critical assets in power grids, such as generators, transformers, and circuit breakers.Furthermore, Energy & Power are used to ensure power grids' safe and reliable operation.
Figure1: Intelligent Electronic Devices Market, by Vertical, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Intelligent Electronic Devices Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Intelligent Electronic Devices market area will dominate due to the high adoption of technology, and the performance of key players will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: GLOBAL INTELLIGENT ELECTRONIC DEVICES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Intelligent Electronic Devices market accounts for the second-largest market share due to themany industries witnessing the rapid adoption of electronic devices. Further, the German Intelligent Electronic Devices market held the largest market share, and the U.K. Intelligent Electronic Devices market was the fastest-growing market in the European Region.
The Asia-Pacific Intelligent Electronic Devices Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to renewable energy projects rising in this Region and government initiatives. Moreover, China’s Intelligent Electronic Devices market held the largest market share, and the Indian Intelligent Electronic Devices market was the fastest-growing market in the Asia-Pacific region.
Intelligent Electronic Devices Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Intelligent Electronic Devices market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Intelligent Electronic Devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Intelligent Electronic Devices industry to benefit clients and increase the market sector. The Intelligent Electronic Devices industry has offered some of the most significant advantages in recent years. Major players in the Intelligent Electronic Devices market, including ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Cisco Systems, Inc. (U.S.), General Electric (U.S.), Eaton Corporation Plc (Ireland), Honeywell International, Inc. (U.S.), Schweitzer Engineering Laboratories, Inc. (U.S.), NovaTech LLC (U.S.)., and others, are attempting to increase market demand by investing in research and development operations.
Leuze has been the forerunner for innovations and technological milestones in industrial Automation for more than 60 years. The success of their customers drives them. The technology leader's high-tech product range includes several different sensors for the field of automation technology. These include switching and measuring sensors, identification systems, and data transmission and image processing solutions.With its new Smart Core cables, Leuze Electronic presents a solid advancement toward driving Industry 4.0 applications. With the keen smart factory transformation not too far off, the Smart Core cable empowers an innovative predictive maintenance measure specifically for applications with moving cables (i.e., handling robots, welding robots, moving cables)
The worldwide power management firm Eaton Corporation plc, founded in the United States with global headquarters in Dublin, Ireland, and a subsidiary administrative centre in Beachwood, Ohio, is American-Irish and expects 2022 revenues of $20.75 billion.Power management firm Eaton recently unveiled its new ASV60 steering valve, a small, modular valve intended to increase machine flexibility and intelligence while reducing cab noise.
Key Companies in the Intelligent Electronic Devices market include
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ABB Ltd. (Switzerland)
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Schneider Electric (France)
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Siemens AG (Germany)
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Cisco Systems, Inc. (U.S.)
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General Electric (U.S.)
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Eaton Corporation Plc (Ireland)
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Honeywell International, Inc. (U.S.)
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Schweitzer Engineering Laboratories, Inc. (U.S.)
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NovaTech LLC (U.S.)
Intelligent Electronic Devices Industry Developments
February 2019: Leuze Electronic presents a solid advancement toward driving Industry 4.0 applications with its new Smart Core cables. With the keen smart factory transformation not too far off, the Smart Core cable empowers an innovative predictive maintenance measure specifically for applications with moving cables (i.e., handling robots, welding robots, moving cables).
Intelligent Electronic Devices Market Segmentation:
Intelligent Electronic Devices Type Outlook
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Protective Relaying Device
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On-Load Tap Changer Controller
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Circuit Breaker Controller
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Capacitor Bank Switch
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Recloser Controller
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Voltage Regulator
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Digital Relay
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Others
Intelligent Electronic Devices Application Outlook
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Mass Transit System
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Traction Signaling & Control System
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Water Supply & Management System
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Automation
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Condition Monitoring
Intelligent Electronic Devices Vertical Outlook
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Oil & Gas
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Food & Beverage
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Automotive
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Energy & Power
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Pharmaceutical Chemicals
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Others
Intelligent Electronic Devices Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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Market Size & Forecast
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 9.704 billion |
| Market Size 2024 | USD 10.581 billion |
| Market Size 2032 | USD 19.393 billion |
| Compound Annual Growth Rate (CAGR) | 7.87% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Vertical, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), Cisco Systems, Inc. (U.S.), General Electric (U.S.), Eaton Corporation Plc (Ireland), Honeywell International, Inc. (U.S.), Schweitzer Engineering Laboratories, Inc. (U.S.), NovaTech LLC (U.S.) |
| Key Market Opportunities | Increasing need for substation automation solutions in renewable energy projects |
| Key Market Dynamics | Rising need for retrofitting of conventional substations |
Major Players
Intelligent Electronic Devices Market Segmentation
Intelligent Electronic Devices Type Outlook (USD Billion, 2018-2032)
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
Intelligent Electronic Devices Application Outlook (USD Billion, 2018-2032)
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Intelligent Electronic Devices Vertical Outlook (USD Billion, 2018-2032)
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
Intelligent Electronic Devices Regional Outlook (USD Billion, 2018-2032)
North AmericaOutlook (USD Billion, 2018-2032)
North America Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
North America Intelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
North America Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Other
USOutlook (USD Billion, 2018-2032)
US Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
USIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
US Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
CANADAOutlook (USD Billion, 2018-2032)
CANADA Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
CANADAIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
CANADA Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
EuropeOutlook (USD Billion, 2018-2032)
Europe Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
EuropeIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Europe Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
GermanyOutlook (USD Billion, 2018-2032)
Germany Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
GermanyIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Germany Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
FranceOutlook (USD Billion, 2018-2032)
France Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
FranceIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
France Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
UKOutlook (USD Billion, 2018-2032)
UK Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
UKIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
UK Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
ITALYOutlook (USD Billion, 2018-2032)
ITALY Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
ITALYIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
ITALY Intelligent Electronic Devices byVertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
SPAINOutlook (USD Billion, 2018-2032)
Spain Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
SpainIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Spain Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
Rest Of EuropeOutlook (USD Billion, 2018-2032)
Rest Of Europe Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
REST OF EUROPEIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
REST OF EUROPE Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
Asia-PacificOutlook (USD Billion, 2018-2032)
Asia-Pacific Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
Asia-PacificIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Asia-Pacific Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
ChinaOutlook (USD Billion, 2018-2032)
China Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
ChinaIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
China Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
JapanOutlook (USD Billion, 2018-2032)
Japan Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
JapanIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Japan Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
India Outlook (USD Billion, 2018-2032)
India Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
IndiaIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
India Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
India Intelligent Electronic Devices by End-User
EDUCATION
BFSI
RETAIL
Telecomm
IT
AustraliaOutlook (USD Billion, 2018-2032)
Australia Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
AustraliaIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Australia Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Rest of Asia-PacificOutlook (USD Billion, 2018-2032)
Rest of Asia-Pacific Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
Rest of Asia-PacificIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Rest of Asia-Pacific Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Rest of the WorldOutlook (USD Billion, 2018-2032)
Rest of the World Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
Rest of the WorldIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Rest of the World Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
Middle EastOutlook (USD Billion, 2018-2032)
Middle East Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Middle EastIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Middle East Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
AfricaOutlook (USD Billion, 2018-2032)
Africa Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
AfricaIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
AfricaIntelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
Latin AmericaOutlook (USD Billion, 2018-2032)
Latin America Intelligent Electronic Devices by Type
Protective Relaying Device
On-Load Tap Changer Controller
Circuit Breaker Controller
Capacitor Bank Switch
Recloser Controller
Voltage Regulator
Digital Relay
Others
Latin AmericaIntelligent Electronic Devices by Application
Mass Transit System
Traction Signaling & Control System
Water Supply & Management System
Automation
Condition Monitoring
Latin America Intelligent Electronic Devices by Vertical
Oil & Gas
Food & Beverage
Automotive
Energy & Power
Pharmaceutical
Chemicals
Others
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