An Intelligent Electronic Device (IED) is a term used in the electric power industry to describe microprocessor-based controllers of power system equipment, such as circuit breakers, transformers and capacitor banks.
IEDs receive data from sensors and power equipment and can issue control commands, such as tripping circuit breakers if they sense voltage, current, or frequency anomalies, or raise/lower voltage levels in order to maintain the desired level. Common types of IEDs include protective relaying devices, On Load Tap Changer controllers, circuit breaker controllers, capacitor bank switches, recloser controllers, voltage regulators etc. This is generally controlled by a setting file. The testing of setting files is typically one of the most time consuming roles of a protection tester.
Intelligent Electronic Devices (IEDs) include devices and systems in which global utilities have invested billions of dollars over the past several years to more efficiently and reliably operate and maintain the power grid. They provide real-time measurement, monitoring, control, and protection of the high voltage power grid assets.
Our report researched the whole industry of Intelligent Electronic Devices including the global market, market status in different area and revenues for different types and applications of the industry, also including the financial status of vendors. Finally, from all these researches and analysis, we made some rational prediction, and the conclusions are as follows:
Global revenue of Intelligent Electronic Devices has kept growing during the past five years with an average growth rate of 5.93%. Compared to 2017, Intelligent Electronic Devices market managed to increase revenue by 6.52 percent to $ 1759.64 million worldwide in 2018 from $ 1651.93 million in 2017. Overall, the Intelligent Electronic Devices market performance is positive, despite the weak economic environment.
The global Intelligent Electronic Devices market
is forecasted to keep the trend and expand to $ 4712.25 million by 2025 from $ 1890.56 million in 2019, growing at a CAGR of 16.44% from 2019 to 2025.
The Intelligent Electronic Devices market competition will be still intense. ABB is the leading manufacturer in the global Intelligent Electronic Devices market with the market share of 31.89%, in terms of revenue, followed by General Electric, Siemens, Schneider Electric, NovaTech LLC and Crompton Greaves. The top 6 listed companies accounted for 85% of the market share in 2018.
Asia-Pacific region has immense potential for growth in this market and is expected to grow at a significant CAGR during the forecast period. Increasing government initiatives in the energy and power sector are the prime reasons for the demand for intelligent electronic devices market.
Although Intelligent Electronic Devices market still brings a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.