The Relay Output Module market industry is projected to grow from USD 345 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.00% during the forecast period (2023 - 2032). Growing demand in the automotive industry and an increasing need for solid-state relays are the key market drivers accelerating market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for relay output module is being driven by the increasing use of relays in the automotive industry. Relays with operational contact terminals and input terminals for either one or several control impulses make up an electronically controlled switch, which is essentially a relay. On the switch, there might be any number of contacts of different contact types, including make connections; break contacts, or combos of both. Relays are now a typical component in automotive, industrial, and electrical purposes due to their capacity to control devices that use high power with low-power signals.
Additionally, vehicles that are enabled by software instead of hardware are becoming more common in the automotive sector, and the average amount of electronics and software in each car is rising quickly. Electronics frequently make it possible to include new features and functionalities into automobiles. As a result, electronics are increasingly being used in important applications like the body, the safety management system, the power train, and the infotainment system. The adoption of autonomous automotive technology is also influenced by passenger safety. Over the past few decades, the incidence of accidents and traffic fatalities has significantly decreased because to the installation of safety features and systems in automobiles.
The necessity for manufacturing dependable and standardized components for effective, safe, and secure switching of electric loads is continually being driven by the rapidly expanding use of electric components in existing and prospective automobiles. Current market expansion is being fueled by these factors. Due to the growing demand for advanced relays with lightweight and high-performance features, manufacturers are being forced to spend more money on the production of solid-state relays rather than more traditional heavy electromechanical relays as the market for hybrid and electric vehicles grows on a global scale. In turn, this will also help the market's future development.
For instance, the international energy agency (IEA) estimates that 6.6 million electric vehicle units were sold in 2021, representing an increase of about 9% over 2020. Thus, result in driving the Relay Output Module market revenue.
The Relay Output Module Market segmentation, based on type includes 2-Channel, 4-Channel, and 8-Channel. The 2-Channel segment dominated the market. A broad variety of microcontrollers, including Arduino, AVR, PIC, ARM, and others, may control the 2-Channel 5V Relay Module directly. The relay is controlled by a low level, triggered control signal that operates at 3.3-5 VDC. The typically open or typically closed contacts are activated by the relay.
The Relay Output Module Market segmentation, based on Application, includes Intelligent Transportation, Water Treatment System, Energy Management System, Factory Automation, and Others. The Intelligent Transportation category generated the most income. An advanced program called an intelligent transportation system (ITS) aims to give consumers the tools they need to use transportation networks in a safer, more efficient, and "smarter" way by delivering unique services connected to various modes of transportation and traffic management.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Relay Output Module market area will rule it, due to the region's increased power production and consumption and increasing industry, mining, and related industries.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Relay Output Module market accounts for the second-largest market share due to the region's new distribution and transmission infrastructure installation, deployment of new power generation facilities, renovation of existing power plants, and all of these factors combined. Further, the German Relay Output Module market held a dominant market share, and the UK Relay Output Module market was the European region's fastest-growing market.
The Asia-Pacific Relay Output Module Market is anticipated to see the fastest CAGR between 2023 and 2032. This is because of the swiftly increasing investments, production capabilities, and sales of automobiles. Moreover, China’s Relay Output Module market held a dominant market share, and the Indian Relay Output Module market was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money on R&D to increase the range of their goods, which will fuel the Relay Output Module market's growth. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other businesses. To grow and endure in an increasingly competitive and challenging market environment, Relay Output Module industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the global Relay Output Module industry to develop market sector and provide benefits to customers. In recent years, the Relay Output Module industry has given the safety industry some of the biggest benefits. Major players in the Relay Output Module market, including Evikon MCI, Pepperl Fuchs, DO Supply, Grainger Industrial, OneTemp, Control Technology, and others, invest in operations for research and development in an effort to improve market demand.
William W. (Bill) Grainger started the Fortune 500 American industrial supply company W. W. Grainger, Inc. in Chicago in 1927. He started the business to give customers access to a steady supply of motors. With products like motors, lighting, plumbing, fasteners, tools, and security supplies, in addition to management of inventories services and technical support, the company today provides services to over three million consumers worldwide. Instead of retail sales, business-to-business sales typically generate revenue. Grainger provides client service through a network of 598 branches, 33 distribution centers, and online channels like Grainger.com, KeepStock, and eProcurement. In 2019, More than 70% of Grainger orders in the United States came from digital sources (such as Grainger.com, inventory management programs, and eProcurement), and more than 85% of orders were delivered straight to the client or made available right away by onsite services.
Schneider Electric SE is a leader in digital technology and energy management. By merging energy technology, real-time automation, software, and services, it addresses residences, structures, data centers, infrastructure, and industries. A Fortune Global 500 corporation, Schneider Electric is listed on the Euronext Exchange and is included in the Euro Stoxx 50 stock market index. The business reported revenues of €34.2 billion for the fiscal year 2022. In 2021, 'The Zero Carbon Project' was introduced by Schneider. Since that time, it has demonstrated its dedication to reducing "operational carbon emissions" by 2025.
December 2021: Phoenix Contact sold its narrow safety relay (NSR) technology to TE Connectivity. Through this technological acquisition, TE Connectivity will be involved in producing and marketing NSR relays.
March 2022: OMRON unveiled an unleaded Compact MOSFET Relay. This innovative MOSFET relay's wide working temperature range and high current rating (200V 0.35A) make it the ideal choice for equipment used for testing and measurement.
May 2021: Panasonic unveiled their NEW range of Photovoltaic MOSFET High Power Type PhotoMOS Relays. This new product line has a smaller package size (SSOP), a higher short circuit current, and a lower drop-out voltage at the gate of the MOSFET.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 345 Billion |
| Market Size 2032 | USD 3765.79 Billion |
| Compound Annual Growth Rate (CAGR) | 27.00% CAGR (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| 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, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, Â and Brazil |
| Key Companies Profiled | Evikon MCI, Pepperl Fuchs, DO Supply, Grainger Industrial, OneTemp, Control Technology, and CoastIPC |
| Key Market Opportunities | ·Rising Power Demand and Infrastructure Investments in the Smart Grid |
| Key Market Dynamics | ·Increasing End-User Industry Demand for Control Devices |
Relay Output Module Market Highlights:
Frequently Asked Questions (FAQ) :
In 2022, the market for relay output modules was anticipated to be worth 345 billion value USD.
During the forecast period, 2023-2032, It is expected that the global market would grow at a CAGR of 27.00%.
North America maintained the biggest market share globally.
The leading companies in the market are Evikon MCI, Pepperl Fuchs, DO Supply, Grainger Industrial, OneTemp, Control Technology, and CoastIPC.
In 2022, the 2-Channel category ruled the market.
The largest market share in the world was held by intelligent transportation.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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