Relay Market Will Generate Massive Revenue In Future 2022-2030

According to a research report "Relay Market by Type (Electromechanical, Thermal, Reed, Time, PhotoMOSFET, Solid State, MEMS), Application, Voltage Range (Low, Medium, High), Mounting Type (Panel, PCB, DIN Rail, Plug-In) and Region - Global Forecast to 2030" published by MarketsandMarkets, the relay market size is estimated to be USD 9.0 billion by 2022 and is projected to reach USD 14.7 billion by 2030, at a CAGR of 6.3%. A relay is an electronic control device that has a control system (also called an input loop) and a controlled system (also called an output loop) and is usually used in automatic control circuits. It is an "automatic switch" that uses a smaller current to control a larger current. Relay plays the role of automatic adjustment, safety protection, and conversion circuit in the circuit.

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Panel Mounting Type is expected to result in the segment occupying majority of the relay market share

Panel mounted relays are designed to be easily mounted on flat panels or heat sinks with screws. Panel mounted relays are the most preferred as they can be plugged into a socket or mounted on a panel. This has resulted in the largest market share of 30.7% of the panel segment in the global relay market in 2021. The panel mount type design allows end-users easy access to set-point and various function changes. This is one of the key reasons for the highest CAGR of 5.4%, from 2020 to 2030, of the panel segment in the global relay market. Panel mounted relays are deployed in heating/air conditioning, heat pumps, waste treatment, medical equipment, access control, and water and air treatment. The overall growth of these application industries is expected to boost the panel mount segment of the relay market.

Renewables application is estimated to be the fastest growing market

Based on the application segment of relay systems, the Renewables sector is estimated to be the fastest growing market from 2020 to 2030. The current tendency of the electric power system is the adaptation of renewable energy sources. Mainly these are solar panels and wind farms. The use of renewable energy can decrease short-circuit currents. The integration of renewables in the power network will change the fault level and network topologies.

Asia Pacific likely to emerge as the largest and fastest relay market

Asia Pacific accounted for a 43.5% share of the relay market in 2022. Increasing T&D network expansion and industrialization projects in emerging countries such as India and Japan are some of the key growth drivers of the global relay market in this region. As per the Indian Electrical and Electronics Manufacturers Association (IEEMA), electricity generation capacity in India is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3-4 years. Also, India and other developing economies in the region are undertaking many smart grid and substation projects per the IEC 61850 standard to fulfill the growing demand for energy. This would create demand for global relays in the region.

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Key Market Players:

Panasonic Corporation (Japan), Xiamen Hongfa Electroacoustic Co., Ltd. (China), TE connectivity (Switzerland), Fuji Electric (Japan), and OMRON Industrial Automation (Japan) are the key players in the global relay market.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Distribution Automation Market Segmentation, Application, Technology, Analysis Research Report and Forecast to 2027

 

According to a research report "Distribution Automation Market by Component (Field Devices, Software, Services), Communication Technology (Wired Communication Technology, Wireless Communication Technology), Utility (Public, Private) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global distribution automation market is estimated to be valued at USD 15.8 billion in 2022 (estimated year) and is projected to reach USD 28.1 billion by 2027 (forecast year); growing at a CAGR of 12.2% during the forecast period.

The distribution automation market has promising growth potential due to the rising deployment of smart grid technologies and increasing demand for the electricity in remote areas.

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Field Devices segment expected to dominate distribution automation market, by component, during the forecast period

The field devices segment holds the largest share of the distribution automation market. The large market share can be attributed to the advantage it offers such as the remote monitoring of distribution power grids to reduce the duration of power outages in Asia Pacific and Africa.

Wireless communication technology to witness fastest growth rate in distribution automation market, by communication technology, during forecast period

The distribution automation market, by communication technology, is divided into wired communication technology and wireless communication technology, wherein wireless communication technology accounts for the fastest growing with a higher CAGR. The growth is attributed to increase in government initiatives and technological advancements pertaining to distribution automation to improve and maintain high levels of service reliability and operating efficiency.

Private utility to witness fastest growth rate in distribution automation market, by utility, during forecast period

The distribution automation market, by utility, is divided into private and public, wherein public segment accounts for the largest share. Private is fastest growing segment during the forecast period, the growth is attributed to increase in government support by funding towards private players.

Asia Pacific to be fastest-growing distribution automation market during forecast period

In this report, the distribution automation market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, South America and Middle East & Europe. North America is a significant contributor to the distribution automation market in the current scenario owing to the rapidly increasing cost-competitiveness of electricity, which enable consumers to have access to clean fuel through distributed energy sources.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the distribution automation market.

A few of the key players include ABB (Switzerland), General Electric (US), Eaton (Ireland), Schneider Electric (France), and Siemens (Germany).

Other dominant players include Landis+Gyr (Switzerland), Itron Inc (US), Hubbell (US), Xylem (US), Schweitzer Engineering Laboratories, Inc. (US), G&W Electric (US), S&C Electric Company (US), and Toshiba (Japan).

Carbon Footprint Management Market To Observe Exponential Growth By 2023-2028

 

According to a research report "Carbon Footprint Management Market Component (Solutions, and Services), Deployment Mode (On-premises, and Cloud), Organization Size (Corporates/Enterprises, Mid-Tier Enterprises, Small Businesses), Vertical & Region - Global Forecast to 2028" published by MarketsandMarkets, the global carbon footprint management market is estimated to grow at a CAGR 22.2% between 2023 to 2028 to reach a market size of USD 30.8 billion by 2028, from an estimated USD 11.3 billion in 2023. Implementation of COP27 targets to restrict global warming and an increase in demand for energy consumption by industries are expected to propel the growth of the global carbon footprint management market. Moreover, the swelling demand for energy consumption by industries is also positively impacting the growth of the carbon footprint management market.

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Cloud technology is expected to hold the largest share of the carbon footprint management market, by deployment mode

By deployment mode, the cloud segment of the carbon footprint management market is expected to be the largest during the forecast period. Businesses are opting for cloud-based solutions as they guarantee safety and security because of these advantages. Cloud deployment mode provides advantages such control over data, lower possibility of data loss, and absence of concerns about regulatory compliance. Moreover, cloud has lower deployment costs, and provides ease of execution, upgrades, and maintenance. All these factors are expected to drive the growth of this segment during the forecast period.

By vertical, the financial services segment is expected to be the fastest growing segment of the carbon footprint management market during the forecast period

The financial services sector, by vertical, of the carbon footprint management market is expected to grow at the highest CAGR between 2022 to 2028, owing to the opportunities in sustainable finance products such as sustainability-linked loans, green and transition bonds, sustainable investment funds, and insurance solutions. The banking, and the BFSI (banking, financial services, and insurance) sector as a whole, is IT intensive and the GHG emissions associated with financial institutions' investing, lending, and underwriting activities are on average over 700 times higher than their direct emissions.  Moreover, financial institutions appear to be focused on low-carbon transition opportunities and are rapidly engaging to support and lead the transition to a low-carbon world, driving the fast growth of the segment in the market.

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North America is expected to dominate the carbon footprint management market

North America held a dominant position in the carbon footprint management market industry in 2022, and is expected to continue to do so throughout the forecast period as a result of the region's proactive efforts to reduce the effects of climate change. In line with this, the region has set strong NDC targets and enacted binding ESG disclosure regulations. Carbon footprint management solutions are expected to see considerable growth over the next few years.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Schneider Electric (France), SAP (Germany), IBM (US), Salesforce (US) and ENGIE (France) along with other prominent vendors of carbon footprint management.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
sales@marketsandmarkets.com