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Intelligent Electronic Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024

Report Description

Intelligent Electronic Devices Market: Overview

Most of the nations worldwide are trying to raise their electricity production in order to complement the increasing industrialization and urbanization. This factor has significantly contributed to the rise of substation installation in order to deliver electricity to various remote parts of a nation. A substation is used to step up current and voltage or vice versa for transmitting electricity to long distances.

Thus, a substation typically consists of equipment such as circuit breaker, transformer, capacitors and voltage regulators which perform transmission, distribution and protection of equipment’s from both the ends. This makes substation an important part of power system which needs constant monitoring and maintenance for smooth operation. Intelligent electronic device helps to monitor, control and protect the substation equipment’s from unpredicted faults resulting in disruption of power supply.

Intelligent electronic devices consist of a group of microprocessor controlled components such as switching, control and communication units. Switching units comprises devices such as protective relay, electrically operated on-load tap controller and electrical isolator which operate in substation to mechanically isolate the system in case of possible fault. Some switching units also continuously monitor and collect data which is fed to control units through communication devices. Communication devices comprises Ethernet cables, wireless transmission and power line communication carrier (PLCC). Today, most of the intelligent electronic devices manufacturers provide communication through Ethernet cables and wireless communication.

Control units consists of a system which helps to monitor and control the remote terminal unit (RTU) or switching units in real-time. Further, it also collects historical data from switching units thereby providing detailed analysis to the operator. Intelligent electronic devices also consist of monitoring systems, supervisory control and data acquisition (SCADA), human machine interface (HMI) and digital meters which help to provide additional information of overall health of substation systems.

Intelligent Electronic Devices Market: Driving Factors and Opportunities

Further, with the introduction of smart grid system, the application of intelligent electronic devices is expected to increase in coming years. Some intelligent electronic device vendors also provide software which help to collate and monitor the overall condition of intelligent electronic devices. A major requirement for intelligent electronic devices vendors is to comply their system with International Electrotechnical Commission (IEC) IEC 61850-6 standard. Thus, the protocol is expected to create a huge impact on the market in producing a standardized product.

The application of intelligent electronic device is expected to increase in transmission and distribution, collector and switching substation. Some vendors are also providing customized solution for gas insulated substation which also require monitoring of SF6 gas. The market for intelligent electronic device is also expected to increase owing to the automated and remote control of substation in remote areas.

The application of intelligent electronic device is increasing in renewable energy installation such as wind farms and solar projects which require continuous monitoring of electrical equipment’s. The market can be segmented on the basis of hardware such as RTU, communication and control system. Further, the challenge faced in case of possible intrusion in wireless based communication can be a possible restraint for this market.

Intelligent Electronic Devices Market: Key Players

Some of the prominent vendors providing intelligent electronic device are Schneider Electric SE, Siemens AG, Black & Veatch Corporation, Eaton Corp PLC, SUBNET Solutions Inc., Toshiba Corporation and ABB Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

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