Solid State Relay Market

Solid State Relay Market worth $1.5 billion by 2025

According to the new market research report "Solid State Relay Market with COVID-19 Impact by Mounting Type (Panel, PCB), Output Voltage (AC, DC, AC/DC), Current Rating (Low, Medium, High), Application (Industrial Automation, Automotive & Transportation), and Geography - Global Forecast to 2025", The global solid state relay market size is projected to grow from USD 1.1 billion in 2020 to USD 1.5 billion by 2025; it is expected to grow at a CAGR of 6.6% from 2020 to 2025. The key factors fueling the growth of this market include growing adoption of high-tech electronics and automation in consumer electronics industry, increase of overall revenue projection of the semiconductor industry despite the outbreak of COVID-19, increasing complexity in automobile circuits of electric vehicles, and robust features of solid state relays.

Browse 166 market data Tables and 72 Figures spread through 238 Pages and in-depth TOC on "Solid State Relay Market with COVID-19 Impact by Mounting Type (Panel, PCB), Output Voltage (AC, DC, AC/DC), Current Rating (Low, Medium, High), Application (Industrial Automation, Automotive & Transportation), and Geography - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/solid-state-relay-market-260413598.html

Panel Mount accounted for larger size of the solid state relay market in 2020.

The increasing application of panel mount SSRs in the industrial automation and energy & infrastructure segments is expected to support the growth of the market during the forecast period. The panel mount SSR is the simplest form of SSR, which is also easy to assemble and change, if necessary. These features make it the primary choice for a majority of electrical equipment for switching and safety applications. Due to the COVID-19 pandemic, companies are finding it difficult to ensure the shipments of the solid state relays with panel mount since the demand for panel mounts is higher than other mounts and accounts for the largest percentage contribution to the market.

Automotive & transportation application is expected to hold the largest size of the solid state relay market in 2020.

The increasing demand for electric vehicles is supporting the growth of the solid state relay (SSR) market for automotive and transportation. Solid state relay offer superior solid state performance for high-power demanding applications and are also an ideal choice for automobiles as they offer variable load control. Automotive OEMs and players within the mobility industry are among the hardest hit due to the COVID-19 pandemic. The impact of COVID-19 on EVs will differ across regions. Post-COVID-19 crisis, the sale of EVs is expected to rebound strongly in China, keeping investment stable, and the projected increase in EV market share on track. The on going pandemic may negatively affect the growth of the solid state relays market for automotive and EV applications for the short term.

APAC projected to be the largest market for solid state realy from 2020 to 2025.

The rapid growth of the automotive, food & beverage, building equipment, and manufacturing industries in emerging economies such as China, Japan, India, and South Korea is contributing to the growth of the solid state relay market in APAC. The rapid growth of the automotive, food & beverage, building equipment, and manufacturing industries in emerging economies such as China, Japan, India, and South Korea is contributing to the growth of the solid state relay (SSR) market in APAC. The impact of COVID-19 in the region has led to a significant drop in the demand for transportation connectivity, which has correspondingly declined the investments in the associated sector. This is expected to impact the supply chain of solid state relays in the region.

Crydom (US), Omron Corporation (Japan), Carlo Gavazzi (Switzerland), Vishay Intertechnology (US), Omega Engineering (US), Broadcom (US), Fujitsu (Japan), Rockwell Automation (US), Anacon Electronic Sales (US), Celduc Relais (France), IXYS Integrated Circuits Division (US), are some of the major players in solid state relay market.

Don’t miss out on business opportunities in Solid State Relay Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
SE 3675
PR Published ON
12/15/2020
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Solid State Relay Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home