Intelligent Electronic Devices (IEDs) May Grow By USD 22.87 Billion in 2030

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  • IEDs allowed businesses to create cutting-edge cybersecurity technologies
  • Several nations are working to modernise their power infrastructure and implement smart grid technologies

The global intelligent electronic devices (IEDs) market was valued at USD 12.80 billion in 2021. According to a report by Adroit Market Research, the market is expected to grow by USD 22.87 billion in 2030.

The expanding demand for automation and smart solutions across several industries, including power systems, oil and gas, manufacturing, and transportation has become the reason for this growth. These tools are significant in industrial automation because they provide improved monitoring, control, and protection capabilities.

Technological development has created these IEDs, which have made microprocessors, communication protocols, and sensor technologies more advanced and smart. Adopting such advanced tools automatically improves the gadget’s performance and functionality.  A number of nations are working to modernise their power infrastructure and putting smart grid technologies in place.

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How do IEDs work?

IEDs continuously monitor various electrical parameters like current, voltage, and frequency. By doing so, they can detect anomalies or deviations from normal operating conditions, indicating system flaws or faults. IEDs are essential components of modern electrical power systems. They provide real-time monitoring, rapid response to guilt, and the ability to maintain system stability and accuracy in electrical measurements. These capabilities are critical for ensuring the reliable and efficient operation of power grids and are vital to meeting the demands of today’s energy management and distribution needs.

Importance of IEDs for Green Energy

The increased demand for solar and wind power has made people realise the value of advanced monitoring and control systems.  IEDs allowed for the regulation of power fluctuations, the distribution of energy more effectively, and the incorporation of renewable energy into existing networks. Government from all over the world has been investing a lot in smart grids. Building intelligent power distribution networks, guaranteeing grid stability, and enabling demand response programmes all required the use of IEDs. Energy efficiency and demand-side management have received more attention as energy conservation and sustainability awareness have grown. IEDs provide ways to track and manage energy use in real time, find ways to save energy, and optimise total energy use.

Electric vehicles (EVs) have been adopted at a higher rate. When EVs are there the electrification in transportation will be the most important requirement. IEDs establish charging infrastructure, control grid load and optimise charging patterns. Robust cybersecurity solutions were required because of the increased reliance on networked systems and digital communication. IEDs allowed businesses to create cutting-edge cybersecurity technologies to safeguard vital infrastructure from online dangers. IEDs created a massive quantity of data, allowing businesses to create advanced analytics solutions. Big data analytics may enhance system performance, maximise operations, and extract valuable insights.

What is IEDs?

IEDs are advanced electronic devices utilised in various applications to carry out specific tasks with a high level of automation and intelligence. These tools are often used in industrial and power systems to keep an eye on, regulate, and safeguard processes and electrical equipment. IEDs can acquire data, interpret information, and carry out activities according to established rules or algorithms since they are outfitted with microprocessors, memory, communication interfaces, and specialised software algorithms. They function as a component of larger control and automation systems, providing real-time processing capabilities and frequently having the capacity to connect with other devices.

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Nitisha Dubey
Nitisha Dubey
Nitisha Dubey is a journalist at EFY. She focuses on startups and innovations with a deep interest in new technologies and business models.

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