Global Solid State Relay Market
Solid State Relay Market Size And Forecast:
According to Verified Market Research, the Global Solid State Relay Market was valued at USD 880.73 Million in 2018 and is expected to witness a growth of 5.95% from 2019-2026 and reach USD 1,402.06 Million by 2026.
Global Solid State Relay Market Outlook
Solid state relays have multiple applications in the parent market which includes the adoption of a smart grid system in homes. A smart grid system is a network of electric transmission which includes all the electric appliances at home and acts a central medium for its regulation. The Smart Grid system constitutes an unparalleled opportunity for the energy industry to enter a new epoch of reliability and efficiency that will subscribe to our environmental health and will upgrade the economy. A smart grid system is an electronic device which consists of a solid-state relay switch which prevents disruption of electric supply by sensing high voltage and allocating its power uniformly. This has increased the penetration of solid-state relays in the consumer electronics market. Further advancement would require critical testing and development of standards and regulations of a solid-state relay.
Global Solid State Relay Market Segmentation
The Global Solid State Relay Market is classified on the basis of Mounting Type, Application, Output, and Geography. The gist of breaking down the market into various segments is to gather information about various aspects of the market.
Global Solid State Relay Market Competitive Landscape
The “Global Solid State Relay Market” study report offers a valuable insight with an emphasis on global market including some of the major players such Crydom Inc., Omron Corporation, Carlo Gavazzi Holding AG, Vishay Intertechnology, Inc., IXYS Integrated Circuits Division Inc., Avago Technologies, Ltd. (Broadcom), Celduc Relais, Fujitsu Limited, Rockwell Automation, Inc., Teledyne Relays, Inc. and Omega Engineering Inc.
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