Intelligent Electronic Devices Market Size
According to Deep Market Insights, the global intelligent electronic devices market size was valued at USD 9,703.20 Million in 2024 and is projected to grow from USD 10,316.31 Million in 2025 to reach USD 13,704.25 Million by 2030, expanding at a CAGR of 6.32% during the forecast period (2025–2030). Growth is primarily driven by accelerating digital substation deployments, large-scale grid modernization programs, rapid renewable energy integration, and increasing cybersecurity and automation needs across power and industrial networks.
Key Market Insights
- The shift from electromechanical to digital substations is the strongest IED adoption catalyst, supported by national grid modernization investments.
- Protection relays dominate the market, accounting for 32% of the 2024 revenue share due to mandatory grid protection requirements.
- Utilities (T&D) remain the largest end-user segment, representing over 55% of global IED demand.
- APAC is the fastest-growing region, propelled by renewable expansion, electrification, and massive T&D upgrades in China and India.
- North America and Europe lead in high-value, cybersecurity-focused IED deployments due to strict compliance and reliability standards.
- IEC 61850-enabled devices are rapidly gaining market share, reaching 45% of total IED installations in 2024.
- Cybersecurity-integrated IEDs, edge analytics, and predictive maintenance capabilities are emerging as key differentiators among top vendors.
What are the latest trends in the Intelligent Electronic Devices Market?
IEC 61850-Enabled Digital Substations Accelerating Globally
A major trend reshaping the market is the widespread deployment of IEC 61850-based digital substations. Utilities are phasing out legacy relays and control equipment in favor of modern IEDs supporting GOOSE messaging, sampled values, and interoperable data models. Digital substations streamline engineering, reduce wiring, and improve system reliability, driving significant capital reallocation toward advanced IEDs. This trend is supported by national grid modernization initiatives in the U.S., Europe, China, India, and the Middle East. As operators prioritize interoperability and future-proof systems, multi-protocol IEDs with certified compliance are witnessing exponential demand.
Edge Intelligence & Embedded Cybersecurity Becoming Standard
IEDs are transitioning from single-function protection devices into edge-compute units capable of diagnostics, anomaly detection, and predictive maintenance. Utilities increasingly require built-in cybersecurity features, secure boot, encrypted communications, role-based access, and signed firmware updates, due to rising cyber threats targeting critical infrastructure. This shift enables higher-value revenue streams such as cybersecurity-as-a-service, remote monitoring, and device lifecycle management. Vendors integrating AI/ML-based analytics into IED firmware are gaining a competitive advantage as utilities seek to reduce outages and maintenance costs through real-time device insights.
What are the key drivers in the Intelligent Electronic Devices Market?
Massive Global Grid Modernization Programs
Governments worldwide are investing heavily in modernizing transmission and distribution networks to enhance reliability, reduce outages, and accommodate electrification. Digital substations, automated feeders, and smart grids rely heavily on advanced IEDs for protection, control, and real-time monitoring. These initiatives directly fuel large-scale procurement of protection relays, bay controllers, RTUs, and digital sensors, making modernization the most consistent long-term growth driver.
Explosion of Renewable Energy & Distributed Energy Resources (DER)
Rapid solar, wind, and storage adoption requires adaptive protection, anti-islanding detection, and grid-support functions delivered by intelligent electronic devices. As decentralized grids grow more complex, IEDs serve as critical intelligence hubs enabling grid stability. Renewable power plants, from utility-scale wind farms to distributed rooftop PV, require a range of IEDs for interconnection, fault management, and visibility, accelerating demand in both developed and emerging markets.
IT–OT Convergence & Edge Analytics Adoption
The growing integration of operational technology (OT) and information technology (IT) within utilities and industrial power systems is creating new requirements for intelligent automation. IEDs equipped with analytics, condition monitoring, and seamless connectivity to SCADA/EMS platforms reduce downtime and optimize asset life cycles. Utilities increasingly demand IEDs that function as edge nodes capable of diagnosing equipment health and supporting predictive maintenance strategies.
What are the restraints for the global market?
Long Utility Procurement Cycles & High Replacement Costs
Despite rising modernization needs, utilities and industrial buyers often operate under prolonged approval cycles, multi-year tendering processes, and strict qualification criteria. The high installed base of legacy electromechanical relays and the complexity of integrating new equipment extend replacement timelines. These factors slow the adoption of advanced IEDs, especially for smaller utilities with limited budgets and engineering resources.
Complex Interoperability Across Mixed Legacy Systems
Many substations still operate with a mix of proprietary protocols, old relays, and incompatible control systems. Transitioning to digital IEDs requires substantial engineering effort, retrofitting gateways, system redesign, and cyber-hardening, raising deployment costs. This complexity remains a barrier to rapid adoption, especially in developing markets where legacy fleets dominate.
What are the key opportunities in the Intelligent Electronic Devices Industry?
Rapid DER & EV Charging Integration
The proliferation of distributed energy resources and electric vehicle charging infrastructure demands faster, smarter grid protection. Specialized IEDs for inverter-based resources, feeder automation, and dynamic grid stabilization offer large untapped revenue potential. Vendors offering modular, DER-friendly IED platforms stand to gain from utility-scale and commercial renewable deployments worldwide.
Cybersecurity-Integrated IED Platforms
With rising cyberattacks on energy infrastructure, utilities urgently require hardened protection devices. This creates a major opportunity for companies that offer IEDs with certified security modules, secure firmware, automated patching, and continuous monitoring capabilities. Managed cybersecurity services integrated with IED fleets will open recurring revenue pathways for vendors.
Digital Substation Ecosystems & Lifecycle Services
IED vendors can leverage the transition to digital substations by offering complete ecosystems that include engineering tools, testing software, digital twins, and long-term service packages. As utilities prefer packaged solutions over standalone IEDs, companies that offer integrated hardware-software-services bundles can achieve higher margins and customer lock-in.
Product Type Insights
Protection and control relays dominate the market, accounting for 32% of global revenue in 2024. These relays are essential for grid protection and compliance, making them the highest-demand product category. Bay controllers, RTUs, and digital meters follow, driven by automation and monitoring needs. Fault recorders and digital sensors are gaining traction as grid observability becomes a major priority. Communication gateways and protocol converters support interoperability across mixed-technology substations, while embedded software/firmware platforms are witnessing rapid adoption due to cybersecurity and analytics integration.
Application Insights
Distribution substation IEDs represent the largest application segment, contributing 40% of 2024 revenues. Rapid DER additions, feeder automation programs, and modernization of medium-voltage networks fuel this dominance. Transmission substations remain a high-value segment requiring advanced protection and high-reliability IEDs. Industrial power systems, mining, manufacturing, and petrochemical are adopting IEDs for plant reliability. Data centers are an emerging application due to the need for uninterrupted, intelligent power management. Transportation and rail electrification further expand the market with specialized protection requirements.
Distribution Channel Insights
IEDs are primarily distributed through direct utility procurement and EPC contractors. Major utilities typically procure through large, multi-year contracts with OEMs. System integrators and engineering service providers act as key intermediaries for industrial buyers. Online procurement is rising for small/medium utilities adopting standardized digital controllers. Long-term service and subscription-based models are growing due to cybersecurity and predictive maintenance needs.
End-User Insights
Utilities (T&D) hold the dominant share, representing 55% of global IED demand in 2024. The sector’s large upgrade cycles and regulatory compliance requirements create steady demand. Industrial users, from manufacturing to oil & gas, represent a strong secondary segment. Renewables and IPPs are growing fastest due to new project installations. Data centers, commercial complexes, and transportation electrification represent new high-growth pockets requiring advanced power protection.
| By Product Type | By Application | By Component | By Installation Type | By End User |
|---|---|---|---|---|
|
|
|
|
|
Regional Insights
North America
North America accounts for 28% of the global market, driven by U.S. grid modernisation, NERC CIP cybersecurity mandates, and increasing renewable interconnection. Utilities are heavily investing in digital substations and hardened IED platforms. Canada’s remote grid automation and Mexico’s distribution upgrades further support regional demand.
Europe
Europe holds 22% of the market and is driven by strong decarbonization policies, renewable penetration, and advanced grid codes. Germany, the U.K., and France lead IED deployments, especially for high-voltage transmission and smart distribution networks. Strict compliance and interoperability requirements boost demand for advanced IEC 61850-based devices.
Asia-Pacific
APAC is the fastest-growing region with a 33% share in 2024. China and India dominate with massive T&D expansions, renewable buildouts, and distribution automation programs. Japan, South Korea, and Australia maintain steady demand fueled by microgrids, smart cities, and renewable integration. APAC will remain the highest-growth region through 2030.
Latin America
Latin America holds 9% of global demand, led by Brazil and Chile’s renewable and transmission expansion projects. Although procurement cycles can be slow, long-term grid modernisation programs and rising renewable investments will support gradual growth.
Middle East & Africa
MEA accounts for 8% of the market, driven by large utility upgrades, mega-renewable projects, and heavy infrastructure electrification. The UAE, Saudi Arabia, and South Africa lead adoption, while Sub-Saharan Africa continues investing in grid reliability and rural electrification.
| North America | Europe | APAC | Middle East and Africa | LATAM |
|---|---|---|---|---|
|
|
|
|
|
Top sPlayers in the Intelligent Electronic Devices Market
- ABB Ltd.
- Siemens Energy
- Schneider Electric SE
- Hitachi Energy
- GE Vernova / GE Grid Solutions
- Schweitzer Engineering Laboratories (SEL)
- Eaton Corporation
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Rockwell Automation
- Honeywell International
- S&C Electric Company
- CG Power & Industrial Solutions
- Landis+Gyr
- Fuji Electric Co., Ltd.
Recent Developments
- In 2025, ABB announced upgrades to its digital substation portfolio, integrating advanced cybersecurity modules and enhanced IEC 61850 engineering tools.
- In early 2025, Siemens Energy launched a new line of protection relays with native edge analytics and secure firmware ecosystems.
- In 2024, Schneider Electric expanded its EcoStruxure Grid platform, adding advanced IED lifecycle management and predictive maintenance capabilities.