The Relay And Industrial Controls Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Relay And Industrial Controls Global Market Report 2024, The relay and industrial controls market size has grown steadily in recent years. It will grow from $153.29 billion in 2023 to $160.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to electrification of industries, automation and control systems, infrastructure development, regulatory and safety standards.
The relay and industrial controls market size is expected to see steady growth in the next few years. It will grow to $190.24 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to industry 4.0 and digital transformation, energy efficiency and sustainability, smart manufacturing and iot, urbanization and infrastructure expansion, electric vehicles and transportation electrification. Major trends in the forecast period include digitalization and connectivity, plc and hmi integration, energy-efficient motor control, safety and compliance, customization and scalability.
The relay and industrial controls market is expected to be supported by rapid growth in investments in smart city projects in many countries globally. Industrial controls are being designed using artificial intelligence (AI) and the internet of things (IoT) that can support energy, telecommunications, surveillance, and other services. Smart city technologies are integrated with electrical and electronic components, therefore benefitting the companies operating in this relay and industrial controls market. For instance, in 2023, according to the IMD Smart City Index Report, a Switzerland-based business school, the city coverage of the SCI index and report increased by almost 20%, bringing the total number of smart cities to 141.
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The relay and industrial controls market covered in this report is segmented –
1) By Control system: Distributed Control System (DCS); Supervisory Control & Data Acquisition System (SCADA); Manufacturing Execution System (MES)
2) By Component: Modular Terminal Blocks; Relays & Optocouplers; Surge Protectors; Marking Systems; Printing; Ferrules Cable Lugs; Handtools; Testers; Enclosure Products; PCB Connectors & Terminals; Heavy Duty Connectors; Analog Signal Conditioner; Electronics Housing; Power Supplies; Industrial Ethernet; Remote IO
3) By Application: Automotive; Industrial; Communications; Household Appliance; Other Applications
The relay and industrial controls market report table of contents includes:
- Executive Summary
- Relay And Industrial Controls Market Characteristics
- Relay And Industrial Controls Market Trends And Strategies
- Relay And Industrial Controls Market – Macro Economic Scenario
- Global Relay And Industrial Controls Market Size and Growth
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- Global Relay And Industrial Controls Market Competitive Benchmarking
- Global Relay And Industrial Controls Market Competitive Dashboard
- Key Mergers And Acquisitions In The Relay And Industrial Controls Market
- Relay And Industrial Controls Market Future Outlook and Potential Analysis
- Appendix
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