Enjoy complimentary customisation on priority with our Enterprise License!
The industrial monitoring relays market size is forecast to increase by USD 418.4 billion at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for safe and reliable monitoring devices for power equipment. This trend is particularly prominent in industries such as power generation, oil and gas, and manufacturing, where the need for continuous monitoring of electrical systems is essential for maintaining operational efficiency and ensuring safety. Another key trend is the emergence of Internet of Things (IoT) based monitoring relays, which enable remote monitoring and real-time analysis of electrical data. However, the market faces a challenge in the form of low revenue from retrofit and replacement activities, as many organizations are opting for maintenance-free monitoring relays, which have longer lifespans and require less frequent replacement. Despite this, the market is expected to continue growing, driven by the increasing adoption of smart grid technologies and the need for more efficient and reliable electrical systems.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.