In 2021, China’s National Development and Reform Commission and the State Grid Corporation of China together commenced a pilot project to launch a green-energy trading platform related to blockchain technology. and In 2018, Carlo Gavazzi has launched the newest addition to its portfolio of 3-phase RGC3 Solid State Relays (SSRs). The RGC3 48 Series, is a 48 AAC per phase rated device with a panel mount or thru-wall mount, natural convection heatsink.
The article cited AMA's "Global Solid State Relay Market Study" explored CAGR of 5.8%. According to the report, Rising demand for automation and digitalization in the consumer electronics is one of the primary growth factors for the market. Growing Digitization and Automation in the Consumer Electronics Industry
is also expected to contribute significantly to the Solid State Relay market. Overall, Industrial Automation
applications of Solid State Relay, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Voltage Rating, such as AC SSR, is boosting the Solid State Relay market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Current Rating, such as Low (0–20a), is boosting the Solid State Relay market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Solid State Relay market identified that the demand is rising in many different parts of the world as "Increase in Demand for Semiconductors in Asia Pacific Region".
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Solid State Relay market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Solid State Relay market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.