Solid State Relay Market to Witness Huge Growth by 2024: Key Players – Crydom, Omron Corporation, Carlo Gavazzi

A solid state relay is a switching relay that is mounted on panel, PCB, or DIN Rail that helps switching and protection in various applications, such as industrial automation, building equipment, industrial OEM, energy and infrastructure, automotive and transportation, medical, and food & beverages. The output voltages of solid state relays include AC, DC, and AC/DC. Solid state relays are available in low, medium, and high current ratings.

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The market growth is mainly attributed to increasing digitization and automation in the consumer electronics industry; growing modernization of electric vehicles; robust features of SSR, such as high switching frequency and resistance to shock and vibration; and low noise while operating, long operating life, and low maintenance and compact size of SSR. The solid state relay market is expected to reach USD 1.6 billion by 2024 from USD 1.2 billion in 2019, at a CAGR of 5.7%. Crydom (US), Omron Corporation (Japan), and Carlo Gavazzi (Switzerland) are the leading players in the solid state relay market.

Crydom is among the leading market players manufacturing solid state relays. The company specializes in providing a wide range of off-the-shelf solid state relays, contractors, and related products along with customized solid state switching solutions. It operates as a subsidiary of Sensata Technologies. The products offered by Crydom are supplied to markets, which include building equipment, energy & infrastructure, food & beverages, industrial OEM, medical, and transportation.

Crydom mainly adopts the strategy of product launches to expand its product portfolio and meet customer demands. For instance, in March 2017, the company launched the PMP Series of proportional control relays. In November 2016, the company launched EL Series AC and DC output solid state relays.

Omron Corporation is a major player in the solid state relay market. The company has a huge product portfolio of solid state relays. Besides solid state relays, the company manufactures terminal relays, I/O relay terminals, and power controllers. The R&D investments of the company have increased from 6.3% of the total revenue in 2015 to 6.9% of the total revenue in 2017. This indicates the company is focusing on the advancement of its product portfolio. The company has its manufacturing facilities in Japan, China, and the Netherlands, and distribution centers across the world.

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Carlo Gavazzi is a major player in the sold state relay market involved in designing and manufacturing innovation solutions in this market. The company’s products are manufactured in its ISO 9001 certified factories. Carlo Gavazzi has 6 R&D manufacturing centers across the world. The company serves its clients in regions such as Europe, North America, and APAC through its 22 sales companies and 60 independent national distributors.

The company adopts the strategy of product launches to expand its product portfolio, which would help the company in expanding its customer base and increase market share. For instance, in November 2018, the company launched a new product—RGC3 48 series. The company has increased its investments in R&D from 4.3% in 2015 to 4.6% in 2017, which denotes that the company plans to further come up with new and advanced products in the solid state relay market.

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Next Generation In-Vehicle Networking Market Growing Trends and Technology forecast by 2022

The report "In-Vehicle Networking Market by Vehicle Type (Passenger Car, LCV, HCV, and AGV), Connectivity Standards (CAN, LIN, FlexRay, RF, Ethernet, and MOST), Application, and Geography - Global Forecast to 2022", The in-vehicle networking market is expected to grow from USD 838.6 Million in 2015 to USD 1,366.0 Million by 2022, at a CAGR of 7.32% between 2016 and 2022. The in-vehicle networking market size, in terms of volume, is expected to reach 1.38 billion units by 2022, at a CAGR of 7.14% between 2016 and 2022. The increasing vehicle production and increase in the use of electronics in vehicles are some of the significant growth drivers for the in-vehicle networking market.

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Passenger cars to lead the in-vehicle networking market

The in-vehicle networking market for passenger car is expected to hold the largest share between 2016 and 2022. The increasing demand for passenger cars promotes vehicle production which accelerates the global market for automotive semiconductor, especially in countries such as China, the U.S., Germany, South Korea, India, Mexico, and Brazil. The increase in vehicle production is expected to drive the market for cost and energy efficient solutions such as in-vehicle networking.

Infotainment application market for in-vehicle networking to grow at the highest rate during the forecast period

The automotive infotainment applications are becoming increasingly complex as the demand for these systems extend to higher interaction between systems and the vehicle. The common infotainment applications include dashboard, connectivity devices, and audio/video systems, among others.

APAC held the largest share of the in-vehicle networking market in 2015

APAC held the largest share of the in-vehicle networking market in 2015 because the region has emerged as a major automotive hub with a maximum market share in terms of vehicle production as well as sales. The primary reason behind this trend is the growing Chinese automotive market. This market has evolved into the largest producer and consumer of automobiles across the globe. Apart from China, the other major country-level markets in the region include Japan, South Korea, and India.

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Some of the major players in the in-vehicle networking market are NXP Semiconductor NV (Netherlands), Infineon Technologies AG (Germany), Texas Instruments, Inc. (U.S.), Robert Bosch GmbH (Germany), Xilinx, Inc. (U.S.), STMicroelectronics NV (Switzerland), ON Semiconductor Corp. (U.S.), Atmel Corporation (U.S.), Microchip Technology Inc. (U.S.), Elmos Semiconductor AG (Germany), and Melexis Semiconductors (Belgium), among others.

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.

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Global 4K Technology Market by TVs, Monitors, Digital Signage, Smartphones - Current Market Revenue, Growth, Analysis & Forecast

According to the new market research report on the "4K Technology Market by Product (TVs, Monitors, Digital Signage, Set-Top Boxes, Smartphones, Tablets, Laptops, Projectors, Cameras, and Blu-Ray Players) and Geography (North America, Europe, APAC, and RoW) - Global Analysis and Forecast to 2020", the total 4K technology market was valued at $18.1 Billion in 2014 is estimated to grow at a CAGR of 21.8% to reach $102.1 Billion by 2020, which includes an in-depth analysis of the products and geography.

 

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The term 4K is derived from the format of 4096 x 2160 pixels, and refers to approximately 4,000 pixels across the screen. Consumer electronics manufacturers use a slightly lower resolution than the true 4K in their new and upcoming models of televisions and monitors. The major advantage of 4K technology is sharper picture quality with vibrant colors.

The 4K technology market in the report has been categorized based on products: TV, monitor, digital signage, set-top box, smartphone, tablet, laptop, projector, camera, and Blu-ray player. 4K TVs held the largest share of ~49% of the overall 4K technology market, in 2014 and 4K tablets are expected to grow at the highest CAGR among all products. The 4K TV market is further segmented on the basis of screen size and technologies used. The products which do not contain the 4K display panels but use 4K technology in it such as set-top box, projector, camera, and Blu-ray player, for them the market size of the complete product is considered. Whereas, for the products which contains the 4K display panels such as TV, monitor, digital signage, smartphone, tablet, and laptop, for them the market size of the display panels is considered in the report.

The analysis of the 4K technology market on the basis of different geographic regions– the Americas, Europe, Asia-Pacific, and the Rest of the World (RoW), has also been done in the report. APAC had the largest market for 4K technology in 2014, and RoW is expected to grow at the highest CAGR among all regions.

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The report profiles major players along with their SWOT analysis in the 4K technology market. The market has been witnessing a series of new product launches, announcements, and partnerships across the value chain. The key players included in the report are Canon Inc. (Japan), Blackmagic Design Pty Ltd. (Australia), Innolux Corp. (Taiwan), LG Electronics Corp. (South Korea), Panasonic Corp. (Japan), Samsung Electronics Corp. (South Korea), Sharp Corp. (Japan), Sony Corp. (Japan), JVC Kenwood Corp. (Japan), AsusTek Corp. (Taiwan), Hong Kong Skyworth Digital Holdings Ltd. (China), TCL Corp. (China), and Hisense Co., Ltd. (China). 

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.

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