Reportstack has announced a new market research report on the Global Electromechanical and Solid-state Relay Market 2015-2019. Steady shift from electromechanical relays to digital relays is one of the major trends upcoming in the market. Adoption of digital relays at the new construction stage has increased worldwide because of extensive benefits such as high accuracy and reliability, high level of functional integration, signal storage capacity, a wide range of temperature operation, self-checking and adaptability, and flexibility in communicating with other digital equipment. The Global Electromechanical and Solid-state Relay market is expected to grow at a CAGR of 5.5 percent during 2014-2019.
A growing global population and increased industrialization are also leading to high consumption of electricity, adding to the push for improvement in T&D networks. The effective deployment of electromechanical and solid-state relays reduces power losses, enhancing operational efficiency of organizations.
“Electricity demand in the APAC region has been on the rise. Much of the demand is emerging from China, Japan, and India,”.
“The Industrial, Residential, Commercial, and Transportation sectors typically have high demand for electricity. Relays are used as an integral component for generation and distribution of electricity across these sectors.”
To define the market conditions in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
To access full report with TOC, please visit Global Electromechanical and Solid State Relay Market 2015-2019.