Global Intelligent Electronic Devices Market

Intelligent Electronic Devices Market Size, Share, Growth Analysis, By Type(On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Reclose Controller), By Application(Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation), By Industry Vertical(Oil & Gas, Food & Beverage, Automotive, Energy & Power), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45J2053 | Region: Global | Published Date: April, 2024
Pages: 197 |Tables: 100 |Figures: 79

Intelligent Electronic Devices Market Insights

Global Intelligent Electronic Devices Market size was valued at USD 13.61 billion in 2022 and is poised to grow from USD 14.85 billion in 2023 to USD 29.08 billion by 2031, at a CAGR of 9.1% during the forecast period (2024-2031).

An intelligent electronic device (IED) is used in industrial control systems (ICS) to automate power systems. The instrument comes with software for testing, commissioning, and performing fault analysis and real-time synchronization of event reporting. The device monitors its own circuits and those of external devices, gathers advanced local control intelligence, and provides remote, local, and substation data acquisition for use in network analysis. The application of graphene in a variety of industries has led to its widespread use. These industries include automotive, energy and power, oil; gas, chemicals; petrochemicals, healthcare, food and beverage (F&B), and water and wastewater treatment. Intelligent electronic devices are helpful in identifying and engaging high-potential talent to drive business performance and profitability.

Governments of several countries are implementing smart meters in households in order to positively influence demand for IEDs. The development of electronic technologies has allowed for the development of more compact and intelligent devices. Smart devices communicate between the components attached to the body, such as data spectacles, headphones, microphones, or sensors, by wireless connection between the individual components. They perform self-diagnosis by monitoring internal signals for evidence of faults. As progress in innovation continues, many intelligent medical devices have been developed that can automatically predict serious health issues even before the patient begins to feel sick.

Another application of intelligent devices is the smart card known as a wireless identity module. It is similar to the subscriber identity module. The SIM card is used in many GSM cellular phones. The smart card by Method for encryption and digital signature ensures the maximum security for web-based business exchanges by verifying the required gatherings.

US Intelligent Electronic Devices Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 13.61 billion

Largest Segment

Automation,

Fastest Growth

Automation,

Growth Rate

9.1% CAGR

Global Intelligent Electronic Devices Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)

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Intelligent Electronic Devices Market Segmental Analysis

The intelligent electronic devices market is segmented on the basis of By type, By Application, By Industry vertical, and by geography. Whereas, by type is sub segmented into the On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Reclose Controller, Voltage Regulator, Digital Relay, Protective Relaying Device. By application is sub segmented into the Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation, and Condition Monitoring. By Industry vertical is sub segmented into the Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical, Chemicals, and Others. By Geography is classified into North America, Europe, Asia Pacific, and the Rest of the world.

Analysis by Type

On the basis of type, the digital relay segment has the highest market share and has a potential to grow in the forecast period. This is due to the increasing number of faults caused by power overload. The components that follow the voltage regulator are necessary to ensure that the voltage remains stable. The benefits of using a low-maintenance air conditioning unit are evident in its ability to provide good isolation and low needs for regular maintenance.

Analysis by Application

Based on application, The automation market is growing fastly in response to increasing demand for automated devices in a variety of fields. These devices are playing an important role in improving the quality of life and advancing various infrastructure projects.  This segment is likely to grow even further during the forecasted period. The Mass Transit System is experiencing growth, and this trend is expected to continue in the near future. The Water Supply and Management segment is likely to have a positive impact on the market over the next few years.

Analysis by Industry Vertical

Based on industry verticals, The Oil and Gas section is doing well and is expected to keep expanding its share over the next few years. The automotive sector has shown slow growth over the years. Despite its recent setbacks, the Intelligent Electronic Devices market is likely to continue to grow in the coming years.

Global Intelligent Electronic Devices Market By application 2021 (%), 2023 (%)

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Intelligent Electronic Devices Market Regional Insights

North America is a leading region with a high number of shares.  There is high scope for the growth and expansion of intelligent devices in this market. Further, the high adoption of technology will boost intelligent electronic devices market growth. The performance of key players will create high opportunities in the intelligent electronic devices market. 

The Asia Pacific region is the next largest market, with a high number of shares. Renewable energy projects are becoming more popular in this region. This market is being driven by government initiatives, as well as other factors. The European market has a high potential for intelligent electronics, due to its large population and high economic output. The rapid adoption of electronic devices in Europe is common in many industries.

Global Intelligent Electronic Devices Market By Geography, 2021-2030, 2024-2031
  • Largest
  • Fastest

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Intelligent Electronic Devices Market Dynamics

Drivers

Rising Adoption of AI to Bolster Market Growth

  • The rising demand for smart grids is a crucial driver of the intelligent electronic devices market. The increasing need for intelligent electronics in the smart grid sector is evident in the increasing number of projects being undertaken. The need for smart grids is especially high in industries, where they can help improve efficiency and safety. Industries play an important role in facilitating high levels of entry into consumption activities. Smart grids are becoming more important as our need for energy grows. The intelligent electronics market will continue to grow in popularity due to its many benefits.
  • The rising automation activities in industries are other market drivers. Automation is a crucial part of industries. Automation makes tasks easier and more efficient in many industries, making our lives easier and producing more efficiently. As automation grows in popularity, demand for intelligent electronics will increase. The automation features of this device are excellent.fits of increased production and revenue are increased production rate and revenue rate.

Restraints

High Expenditure for Infrastructure to Hinder Market Growth

  • High investment in Intelligent Electronic Devices is a significant challenge in the market. The cost of raw materials is on the rise in recent years. The profit margin for the intelligent electronic devices market is inconsistent because of Covid 19. The raw material price increases the overall cost of this product. This increases the cost of the finished product. The high savings potential of a savings account is a great benefit. However, initial costs are an issue for many markets. Delayed investment by key players is another problem in this period. In this situation, many key players are unable to invest in the intelligent electronic devices market due to a lack of funds. The high cost of investment in Intelligent Electronic Devices (IEDs) is a challenge to the market. As a result, productivity and demand may decline. The rate of growth in the market is slowing down.

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Intelligent Electronic Devices Market Competitive Landscape

Competition in the intelligent electronic device market is moderate. There are indications that a new group of key players will enter the market during the forecast period. There are new products and services in the marketplace. The key player’s strategies are to acquire, partner with others, expand and collaborate.

Top players company profiles

  • ABB Ltd.
  • Advanced Control Systems, Inc.
  • Basler Electric Company
  • Beckwith Electric Co., Inc.
  • Eaton Corporation
  • Echelon Corporation
  • Emerson Electric Co.
  • General Electric Company
  • Honeywell International Inc.
  • Itron Inc.
  • L&T Electrical & Automation
  • Mitsubishi Electric Corporation
  • NovaTech LLC
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Schweitzer Engineering Laboratories, Inc.
  • Siemens AG
  • Toshiba Corporation
  • Trilliant Holdings, Inc.
  • Yokogawa Electric Corporation

Recent developments

  • Leading manufacturer in the sector, Toshiba Electronic Devices & Storage Corporation, introduced two intelligent power devices, TPD2015FN and TPD2017FN, in February 2023. These devices have the ability to regulate the drive of inductive loads, such as motors and lamps.
  • On 28 Apr 2022, ET reported that Apple’s contract manufacturers are expected to make iPhones worth ₹47,000 crores in India this fiscal year, the second year of the production-linked incentives (PLI) scheme in April. This will be almost five times the ₹10,000 crores worth of iPhones made in the country in FY22 by Foxconn and Wistron.
  • On 17 Mar 2022, Imagine Marketing, Boat’s parent company, which filed its draft red herring prospectus with market regulator Securities and Exchange Board of India in January this year to raise Rs 2,000 crore from the public markets, is awaiting approval from the regulator.

Intelligent Electronic Devices Key Market Trends

  • The automation of industrial processes is one of the key factors driving the global IEDs market growth. The increasing need to reduce power distribution (T&D) losses and the increasing instances of power line fluctuations are driving the market. The increasing trend of substation automation in solar power systems is helping to drive market growth. In addition, the escalating demand for renewable energy sources is contributing to this trend. Governments are increasingly focusing on installing smart meters in every household, which is leading to increased demand for IEDs. This is because smart meters allow for power automation with optimal capital assets and minimal human intervention.

Intelligent Electronic Devices Market SkyQuest Analysis

Sky Quest’s ABIRAW (Advanced Business Intelligence, Research and Analysis Wing) is our Business Information Services team that collects, collates, Co-relates and analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Intelligent Electronic Devices Market analysis, The majority of nations worldwide are making an effort to increase their electricity output in order to keep up with the rapid urbanization and industrialisation. This factor has significantly influenced the growth of substations to supply energy to numerous outlying regions of a nation. A substation is used for long-distance electrical transmission to scale up voltage or current or vice versa.

Also, due to a wide range of applications in substation automation, including collector converter, distribution, transmission, and switching in a number of end-use industries, the use of intelligent electronic devices has grown quickly in recent years.

Report Metric Details
Market size value in 2023 USD 13.61 billion
Market size value in 2031 USD 29.08 billion
Growth Rate 9.1%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • On-Load Tap Changer Controller, Circuit Breaker Controller, Capacitor Bank Switch, Reclose Controller, Voltage Regulator, Digital Relay, Protective Relaying Device
  • Application
    • Mass Transit System, Traction Signaling & Control System, Water Supply & Management System, Automation, and Condition Monitoring
  • Industry Vertical
    • Oil & Gas, Food & Beverage, Automotive, Energy & Power, Pharmaceutical, Chemicals, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ABB Ltd.
  • Advanced Control Systems, Inc.
  • Basler Electric Company
  • Beckwith Electric Co., Inc.
  • Eaton Corporation
  • Echelon Corporation
  • Emerson Electric Co.
  • General Electric Company
  • Honeywell International Inc.
  • Itron Inc.
  • L&T Electrical & Automation
  • Mitsubishi Electric Corporation
  • NovaTech LLC
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Schweitzer Engineering Laboratories, Inc.
  • Siemens AG
  • Toshiba Corporation
  • Trilliant Holdings, Inc.
  • Yokogawa Electric Corporation

Recent developments

  • Leading manufacturer in the sector, Toshiba Electronic Devices & Storage Corporation, introduced two intelligent power devices, TPD2015FN and TPD2017FN, in February 2023. These devices have the ability to regulate the drive of inductive loads, such as motors and lamps.
  • On 28 Apr 2022, ET reported that Apple’s contract manufacturers are expected to make iPhones worth ₹47,000 crores in India this fiscal year, the second year of the production-linked incentives (PLI) scheme in April. This will be almost five times the ₹10,000 crores worth of iPhones made in the country in FY22 by Foxconn and Wistron.
  • On 17 Mar 2022, Imagine Marketing, Boat’s parent company, which filed its draft red herring prospectus with market regulator Securities and Exchange Board of India in January this year to raise Rs 2,000 crore from the public markets, is awaiting approval from the regulator.
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Intelligent Electronic Devices Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Intelligent Electronic Devices Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Intelligent Electronic Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Intelligent Electronic Devices Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Intelligent Electronic Devices Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Intelligent Electronic Devices Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Intelligent Electronic Devices Market size was valued at USD 13.61 billion in 2022 and is poised to grow from USD 14.85 billion in 2023 to USD 29.08 billion by 2031, at a CAGR of 9.1% during the forecast period (2024-2031).

Competition in the intelligent electronic device market is moderate. There are indications that a new group of key players will enter the market during the forecast period. There are new products and services in the marketplace. The key player’s strategies are to acquire, partner with others, expand and collaborate. 'ABB Ltd.', 'Advanced Control Systems, Inc.', 'Basler Electric Company', 'Beckwith Electric Co., Inc.', 'Eaton Corporation', 'Echelon Corporation', 'Emerson Electric Co.', 'General Electric Company', 'Honeywell International Inc.', 'Itron Inc.', 'L&T Electrical & Automation', 'Mitsubishi Electric Corporation', 'NovaTech LLC', 'Rockwell Automation Inc.', 'Schneider Electric SE', 'Schweitzer Engineering Laboratories, Inc.', 'Siemens AG', 'Toshiba Corporation', 'Trilliant Holdings, Inc.', 'Yokogawa Electric Corporation', 'Leading manufacturer in the sector, Toshiba Electronic Devices & Storage Corporation, introduced two intelligent power devices, TPD2015FN and TPD2017FN, in February 2023. These devices have the ability to regulate the drive of inductive loads, such as motors and lamps.', 'On 28 Apr 2022, ET reported that Apple’s contract manufacturers are expected to make iPhones worth ₹47,000 crores in India this fiscal year, the second year of the production-linked incentives (PLI) scheme in April. This will be almost five times the ₹10,000 crores worth of iPhones made in the country in FY22 by Foxconn and Wistron.', 'On 17 Mar 2022, Imagine Marketing, Boat’s parent company, which filed its draft red herring prospectus with market regulator Securities and Exchange Board of India in January this year to raise Rs 2,000 crore from the public markets, is awaiting approval from the regulator.'

The rising demand for smart grids is a crucial driver of the intelligent electronic devices market. The increasing need for intelligent electronics in the smart grid sector is evident in the increasing number of projects being undertaken. The need for smart grids is especially high in industries, where they can help improve efficiency and safety. Industries play an important role in facilitating high levels of entry into consumption activities. Smart grids are becoming more important as our need for energy grows. The intelligent electronics market will continue to grow in popularity due to its many benefits.

The automation of industrial processes is one of the key factors driving the IEDs market growth. The increasing need to reduce power distribution (T&D) losses and the increasing instances of power line fluctuations are driving the market. The increasing trend of substation automation in solar power systems is helping to drive market growth. In addition, the escalating demand for renewable energy sources is contributing to this trend. Governments are increasingly focusing on installing smart meters in every household, which is leading to increased demand for IEDs. This is because smart meters allow for power automation with optimal capital assets and minimal human intervention.

North America is a leading region with a high number of shares.  There is high scope for the growth and expansion of intelligent devices in this market. Further, the high adoption of technology will boost intelligent electronic devices market growth. The performance of key players will create high opportunities in the intelligent electronic devices market. 

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