The relay market is expected to register a CAGR of 4.6% during the forecast period (2022 - 2027). The relay market is projected to witness a significant growth owing to an increase in the acceptance of different types of relays across a wide range of end-user applications, including aerospace, defense & military, automotive, communications, energy and power, industrial, and others.
Key HighlightsThe Global Relay Market is moderately competitive and consists of several major players such as TE Connectivity, American Zettler, Churod Electronics, Omron, Panasonic, etc. In terms of market share, few of the major players currently dominate the market. However, with innovations and technological advancements, many of the companies are increasing their market presence by both organic and inorganic growth strategies and also by tapping new markets. Some of the recent developments in the market are:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook