IED Market
IED Market by Type (Protective Relaying Device, On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Recloser Controller, Voltage Regulator, Digital Relay, Others), by Application (Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation, and Condition Monitoring), by Vertical (Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical, Chemicals, Others), — Global Forecast till 2023
IED Market by Type (Protective Relaying Device, On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Recloser Controller, Voltage Regulator, Digital Relay, Others), by Application (Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation, and Condition Monitoring), by Vertical (Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical, Chemicals, Others), — Global Forecast till 2023
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www.marketresearchfuture.com
IED Market Forecast To 2023
IED Market Forecast To 2023
• Market Research Future (MRFR), in its revised “IED Market” report, states that the global market of
intelligent electronic devices (IED) can expand at 9.04% CAGR across the assessment period (2017
to 2023). In 2017, the IED Market value was recorded at USD 10.55 Bn. MRFR study estimates the
IED Market to value at USD 17.09 Bn by 2023 due to the rise in smart grid requirement.
• The growth of the semiconductor industry is observed to impact the global IED Market positively.
Renowned companies dealing in semiconductors are investing adequately in the development and
modification of microsensors. They are extensively used in intelligent electronic devices, such as
transformers, capacitor banks, and circuit breakers. The growing demand for smart electronic
devices products is providing impetus to IED Marketers to boost their production capacity. Thus,
companies are taking the necessary steps to do the needful. This can spur the growth of the market
in the years to come.
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