Global Industrial Electronics Market Overview:
Industrial electronics refers to equipment, tools, and processes that involve electrical equipment in an industrial setting. The market for industrial electronics has developed mainly to reduce labor fatigue during labor-intensive operations. Automation in industrial machinery has resulted in increased precision, reduced damage which in turn has improved productivity and profit margins. Industrial electronics account for 18% of the total production of electronic goods, second largest after consumer electronics.
- Technical Innovation Is the Key Driver
- High Precision Controls Leading To Improved Productivity
- Application of State-Of-The-Art Systems Such As SCADA, PLC and AC Drive Systems across Various Sections of the Industry
- Penetration of Artificial Intelligence (AI) Is Improving Process Automation
- Government Standards & Regulations to Minimize E-Waste
- Increasing Investments to Meet the Demands of Increasing Population
- Initiatives by Government Encouraging Expansion of Production Facilities
- High Working Capital Required
Some of the key players profiled in the report are Altera Corporation (United States), Analog Devices, Inc. (Adi) (United States), Blueradios, Inc. (United States), Cactus Semiconductor, Inc (United States), Dover Corporation (United States), General Electric Company (Ge) (United States), Honeywell (United States), Intel (United States), Maxim Integrated Products (United States) and British Physical Laboratories India Pvt Ltd (BPL) (India). Additionally, following companies can also be profiled that are part of our coverage like Crompton Greaves Ltd (India), Crown Equipment Pty Ltd (Australia), Fuji Electric Holdings Company, Limited, (Japan) and Fujitsu Limited (Japan). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Industrial Electronics market by 2024. Considering Market by End-User Industry, the sub-segment i.e. Automotive will boost the Industrial Electronics market.
Honeywell has recently introduced two new inertial measurement units (IMUs) to provide world-class navigation in a small, lightweight package without compromising on cost. Built to withstand almost any environment in the air, on land or underwater, these small-but-mighty sensors can serve several markets, including agriculture, robotics, survey/mapping, unmanned vehicles, and transportation. . The IMUs can be used in several industrial applications, such as autonomous vehicle testing, precision agriculture, surveying and mapping, pipeline inspections, platform control, and motion compensation.
Environmental protection agency (EPA) of the United States has regulated the electronics industry in order to curb the e-waste generated. Twenty-five U.S. states currently have electronics recycling laws. The regulation requires manufacturers of video display devices based in Indiana to collect and recycle 60% by weight of the volume of products they sold in the previous year in Indiana. Manufacturers of computers in Missouri must implement “recovery plans” for the collection of and the recycling or reuse of their obsolete equipment. The recovery plan must be implemented and a copy of the plan submitted to the Department of Natural Resources before the manufacturer can sell its computers in Missouri. There are various other regulations followed by 25 other states in the United States.
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Research Methodology:The top-down and bottom-up approaches are used to estimate and validate the size of the Global Industrial Electronics market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Industrial Electronics market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Electronics Manufacturer, Industrial Electronics Traders/Distributors/Suppliers, Industrial Electronics Raw Material Supplier, Industrial Electronics End-User, Industrial Electronics Potential Technology Investors and Industrial Electronics Downstream Vendors.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.