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Intelligent Electronic Devices Market Share

ID: MRFR//5921-HCR | 100 Pages | Author: Ankit Gupta| December 2024

In the realm of Intelligent Electronic Devices (IED) market, companies deploy diverse strategies to position themselves favorably and secure a significant market share. One key strategy is product differentiation. In an industry marked by rapid technological advancements, companies strive to distinguish their offerings by incorporating unique features, superior performance, and innovative functionalities. This not only attracts consumers seeking cutting-edge solutions but also allows companies to command a premium and gain a competitive edge.

Price positioning is another critical strategy in the IED market. Some companies opt for a cost leadership approach, aiming to provide cost-effective solutions without compromising on quality. This strategy is particularly effective in markets where price sensitivity is high, and consumers are driven by budget constraints. On the other hand, premium pricing strategies are employed by companies positioning their IEDs as high-end, premium products. This approach targets customers who prioritize advanced features, reliability, and brand reputation over cost considerations.

Market segmentation is a strategy that involves targeting specific customer segments with tailored products. Companies analyze the diverse needs of different industries and customize their IEDs accordingly. This allows them to cater to niche markets effectively, addressing the specific requirements of each segment and establishing a strong foothold within those industries.

Strategic partnerships and collaborations play a pivotal role in market share positioning. Companies often forge alliances with other industry players, technology providers, or even research institutions to enhance their product offerings and expand their market reach. By leveraging complementary strengths, companies can create synergies that lead to the development of more comprehensive and competitive IED solutions.

Geographic expansion is a common strategy employed by companies seeking to increase their market share. This involves entering new regional markets or expanding operations in existing ones. Companies analyze market trends, regulatory environments, and consumer preferences in different regions to tailor their strategies accordingly. This geographical diversification helps them tap into emerging opportunities and establish a broader presence in the IED market.

Brand positioning is another influential strategy in the IED market. Building a strong brand image involves not only offering quality products but also creating a perception of reliability, innovation, and customer trust. Companies invest in marketing, branding, and communication efforts to differentiate themselves and position their brand as a preferred choice among consumers. A positive brand image not only attracts new customers but also fosters loyalty among existing ones.

Continuous innovation is a cornerstone strategy for companies aiming to maintain or expand their market share. The IED market is characterized by a relentless pace of technological evolution, and companies that invest in research and development to stay ahead of the curve are better positioned for success. Regular product updates, feature enhancements, and staying abreast of emerging technologies are crucial aspects of this strategy.

Customer-centric approaches are gaining prominence in the IED market as well. Companies focus on understanding customer needs and preferences, incorporating feedback into product development, and providing excellent customer support. By prioritizing customer satisfaction, companies can foster long-term relationships, build brand loyalty, and secure a substantial share of the market.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2023
Forecast Period 2024-2032
Growth Rate 7.87% (2024-2032)

Intelligent Electronic Devices Market Highlights:

Intelligent Electronic Devices Market Trends
Intelligent Electronic Devices Market Analysis
Intelligent Electronic Devices Market Share
Intelligent Electronic Devices Companies

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.


Global Intelligent Electronic Devices Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Intelligent Electronic Devices Market Trends




  • 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)


Intelligent Electronic Devices Market, by Vertical, 2022 & 2032


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 (%)


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




  • 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.)




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




  • 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




  • Mass Transit System




  • Traction Signaling & Control System




  • Water Supply & Management System




  • Automation




  • Condition Monitoring




Intelligent Electronic Devices Vertical Outlook




  • Oil & Gas




  • Food & Beverage




  • Automotive




  • Energy & Power




  • Pharmaceutical Chemicals




  • Others




Intelligent Electronic Devices Regional Outlook




  • North America



    • US

    • Canada






  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





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