Global Industrial Monitoring Relays Market 2024-2028

Global Industrial Monitoring Relays Market 2024-2028

Global Industrial Monitoring Relays Market 2024-2028

The industrial monitoring relays market is forecasted to grow by USD 418.4 mn during 2023-2028, accelerating at a CAGR of 4.5% during the forecast period. The report on the industrial monitoring relays market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing need for safe and reliable monitoring devices for power equipment, rising demand for remote monitoring in power sector, and modernization of power network is increasing demand for monitoring relay.

Technavio's industrial monitoring relays market is segmented as below:

• By End-user
• Power industry
• Oil and gas industry
• Automotive industry
• Chemical industry
• Others
• By Product
• Voltage monitoring relays
• Phase monitoring relays
• Others
• By Geographical Landscape
• APAC
• North America
• Europe
• Middle East and Africa
• South America

This study identifies the emergence of iot based monitoring relays as one of the prime reasons driving the industrial monitoring relays market growth during the next few years. Also, increasing replacement of relays and fuses and increasing application of solid-state plug-in relays in automotive sector will lead to sizable demand in the market.

The report on the industrial monitoring relays market covers the following areas:

• Industrial monitoring relays market sizing
• Industrial monitoring relays market forecast
• Industrial monitoring relays market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial monitoring relays market vendors that include ABB Ltd., AIC Technik Pvt. Ltd., ALSTOM SA, Banner Engineering Corp., Bender GmbH and Co. KG, Broyce Control, Coto Technology, Danfoss AS, Eaton Corp. Plc, FINDER SpA, Fujitsu Ltd., FURUKAWA Co. Ltd., General Electric Co., Macromatic Industrial Controls Inc., OMRON Corp., Phoenix Contact GmbH and Co. KG, Pilz GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Shenle Corp. Ltd., Siemens AG, TE Connectivity Ltd., and WEG S.A. Also, the industrial monitoring relays market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.