Intelligent electronic devices are used in industrial control systems to enable power systems' automation. The device is associated with a human-machine interface software for commissioning, testing, performing fault analysis and real-time synchronization of events. It helps in monitoring self and external circuits and performs advanced local control intelligence. It also provides remote, local and substation data acquisition for usage in network analysis. These beneficial features are driving the Intelligent
The Intelligent Electronic Devices Market has reached a value of USD 10.55 billion in 2017, and it is expected to reach USD 17.09 billion by the forecast period with a CAGR of 9.04 %.
Market Segmentation
The Intelligent Electronic Devices Market is segregated into type, application and vertical.
The type segment market is categorized into the protective relaying device, capacitor bank switch, recloser controller, on-load tap changer controller, circuit breaker controller, voltage regulator, digital relay, etc.
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The application segment is characterized by a mass transit system, water supply and management system, traction signalling and control system, automation, and condition monitoring. The automation segment was the chief segment in 2017, and it will continue to be dominant throughout the review period.
The Intelligent Electronic Devices Market is divided into oil and gas, energy and power, pharmaceutical, chemicals, food and beverage, automotive, and others based on end-users. Under the vertical segment, the oil & gas industry is expected to generate significant revenue share in the intelligent electronic devices market.
