Relays Market : Repository of Analysis and Information for Every Facet of the Market

The global relays market has been foreseen by the analysts at Transparency Market Research (TMR) to hold a fragmented nature at large. This could be on account of a significant count of regional companies existing in developing markets for relays. There were three manufacturers that had secured a substantial share for relays in the latest past, viz. Siemens AG, Schneider Electric (SE), and Omron Corp.

According to a market research report authored by TMR, the global relays market has been forecasted to advance at a CAGR of 7.7% between 2015 and 2021 to attain a valuation of US$16.24 bn by the final forecast year. By application, industrial automation could earn a larger revenue of US$3.60 bn by 2021. By region, Asia Pacific has been projected to showcase a higher valuation of US$7.15 bn by the same year.

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The world relays market has been prognosticated to gain a whole lot of demand in the next few years with the lead taken by industrial automation on the back of the increasing need to lessen human involvement on shopping floors globally.

However, one of the primary driving factors for the market could be the aggressively rising demand for smart grids on a global platform. With the help of technologically sophisticated relays, smart grids have been envisaged to exhibit a fine level of reliability, power stability, and efficiency.

With a massive count of regional players catering to the specific demands of local industries, the international relays market may not bode well for global companies. Besides enjoying the advantage of geographical proximity, local players could have an upper hand in the market due to their lower-grade products offered at cheaper prices.

Nevertheless, global players have been prophesied to create opportunities with their higher quality relays, which local companies may not be able to achieve because of lack of skilled workforce, access to advanced technology, and financial backing.

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Moreover, leading regions such as Asia Pacific have been expected to add to the demand for relays with the surging adoption of solar power projects and implementation of smart grids.

The key companies in the global relays market include Crydom Corp., Siemens AG, Omron Corp., Alstom SA, Coto Technology, Fujitsu Ltd., StandexMeder Electronics GmbH, Teledyne Relays Inc., Schneider Electric SE, and Comus International.

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