Solid-State Relay Trends and Forecast
The future of the global solid-state relay market looks promising with opportunities in the industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical, and food & beverage markets. The global solid-state relay market is expected to reach an estimated $2.1 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are rising adoption of high-tech electronics, growing complexity in circuits of electric vehicles, and increasing focus towards up-gradation of aging power of infrastructure.
Lucintel forecast that AC is expected to witness the highest growth over the forecast period.
Within this market, automotive & transportation will remain the largest segment due to growing adoption of solid state relay in various electric vehicle components, such as batteries, speed controlling units, and other low maintenance and compact parts.
APAC is expected to witness the highest growth over the forecast period due to continual expansion of the automotive, food & beverage, building equipment, and manufacturing industries in the region.
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Emerging Trends in the Solid-State Relay Market
There are other supply chain realignments the solid state relay market is undergoing that are worth noting. Such trends of market do showcase changing technology and demand in the market.
• Integration with IoT: SSRs are more often connected to the Internet of Things (IoT) for better management of electrical systems. This flow improves system performance and enables efficient fault diagnostics and maintenance.
• Energy Efficiency Focus: More attention is being placed towards the design of SSRs that can reduce energy consumption. New semiconductor materials and structures are resulting to reduced power dampening and enhanced cooling system.
• Miniaturization: The increasing demand for miniaturization is in relation to the desire for smaller, space-saving parts in consumer electronics and automotive applications. New smaller SSRs are being engineered, but functionality and reliability remain high.
• High-Power and High-Frequency SSRs: Increased industrial automation and new advanced manufacturing processes contribute to an escalating demand for SSRs in the high-power/high-frequency domain. These SSRs are better adapted to extreme operational needs to the harsh environment.
• Sustainable Manufacturing: Instead the manufacturers are adopting other measures to remain competitive in the marketplace including green materials and proc
These trends will enable innovations and efficiencies in the SSR market, resulting in more advanced and greener products. They are also broadening the domain of application and enhancing the overall characteristics of SSRs in a number of industries.
Recent Developments in the Solid-State Relay Market
The latest trends in the solid-state relay (SSR) market are driven by progress in the technology, changes in the industry requirements, and pressure from the regulations in place. Some of these changes include evolution in the product design, incorporation of modern technology, and development in the market in diverse locations. Such changes are having an impact on the competition and are helping in the growth of the SSR market.
• Advanced Materials: There is growth in the market of the solid state relay due to the application of various new technological objects such as new hetero semiconductors like silicon carbide (SiC) and gallium nitride (GaN) which enable better power, switching and efficiency capabilities.
• IoT Integration: SSRs are being combined with IoT components to provide better management, and control of the devices. This helps to perform operations such as predictive maintenance and remote operation of the devices.
• Enhanced Reliability: Better and newer technology and production methods are causing the manufacture of more reliable and durable SSRs which have better thermal performance management.
• Miniaturization: Trends towards miniaturization is producing a smaller and more compact solid state relay which now finds application in consumer electronics and other devices with space constraint.
• Expansion in Emerging Markets: There is an increasing trend to use SSRs in emerging countries industries due to the increasing industrialization and modernization of these markets. Manufacturers are concentrating on providing these areas with affordable options.
Such markets show continuous movement and changes in the SSR market resulting in production of more updated, dependable and affordable products. They are also helping the market to grow in terms of geographical reach and applicability.
Strategic Growth Opportunities for Solid-State Relay Market
These market pressures present several strategic development possibilities in the solid-state relay(SSR) market in various applications. Such movement is caused by technological innovations and growing needs in certain areas.
• Industrial Automation: As the concept of smart factories and automation systems grows in popularity, the use of SSRs is expected to rise. There are prospects in the development of high-performance SSRs that will be used in higher control and robotic systems.
• Renewable Energy: The trend of more photovoltaic, wind power, and other renewable energy sources is increasing the consumption of SSR in the relevant energy management systems. There is an opportunity for the optimization of SSRs to improve energy performance and reliability.
• Consumer Electronics: With the trend of looking for smaller sizes of devices, there are prospects for SSR in the area of consumer electronics. There is a need for compact, high-performance SSRs usable in handheld devices and portable electronics.
• Automotive Applications: The increased use of electric vehicles and ADAS systems components in the automotive industry has also motivated the construction of SSRs. There is room for improving the design of SSRs for such applications with more specifications.
• HVAC Systems: The SSD relay is cumulatively being added into HVAC systems for efficient control and energy consumption. Sensors and system components are poised for developing advanced embedded SSRs that are reliable and performant for climate control applications.
These areas of opportunity are influencing the evolution of the development of the SSR market through innovation and enlarging any of its application areas. They are supporting the emergence of new products and solutions, which different industries continue to require.
Solid-State Relay Market Driver and Challenges
A market for solid state relays (SSR) has developed based on a number of drivers and challenges that impact the growth and development of the market. Factors influencing these are science and technology, the economy as well as laws and policies.
The factors responsible for driving the solid-state relay market include:
1. Technological Advancement: SSR performance is advancing due to the development of new semiconductor materials and designs leading to the use of SSRs in more industries. High power and high efficiency fresh materials like SiC and GaN have become available.
2. Industrial Automation: Industrial automation is on the rise and this has also elevated the demand for SSRS. Automation systems need relays for control and switching which are efficient and dependable.
3. Renewable Energy Growth: With the growth of green energy sources came the need for SSRs used in energy management systems. In renewable energy applications, SSRs are utilized to manage and control energy flows which are very critical.
4. Stricter Energy Efficiency Regulations: Stricter energy efficiency regulations are stimulating the creation of SSRs that are more efficient and consume less electrical power. Such regulations and compliance to them are a prerequisite of growth in the market.
5. Market Expansion in the Emerging Regions: The increasing levels of industrialization and modernization within emerging markets are favoring chances for growth for SSR manufacturers. Entering these markets will also enhance the growth of the market.
Challenges in the solid-state relay market are:
1. High Cost of Advanced Materials: The cost of advanced semiconductor materials such as SiC and GaN, when used, this adds to the cost of SSRs that limit adoption of such products into less financial elastic markets. Hence only high-class markets can absorb these.
2. Technological Complexity: The application of SSRs into sophisticated systems like IoT and automation may not be that easy, and a lot of R&D work would have to be done. This complexity can become a problem for the manufacturers.
3. Regulatory Compliance: Dealing with different regulatory requirements depending on the region can prove difficult. They have to deal with a very complex regulatory process in order to gain access into the markets.
4. Market competition with regard to the limits of technology level: There is stiff competition in the market of SSR, due to a number of players developing identical products. It is difficult to make sure that one does differentiate one’s products from others while still trying to be competitive regarding pricing.
5. Economic Uncertainty: Economic tornadoes and instability might disrupt industrial appetite and overall demand of SSRs. Manufacturers have to make way for the economic climate to be changed in order to achieve growth.
The factors affecting the SSR market are determining its evolution and expansion. The growths are primarily due to technological innovations and advanced demanding from different sectors which expands the market but challenges such as overspending and compliance issues must be taken care of as well. Thus, it is vital for stakeholders to comprehend these factors if they are to penetrate the market successfully.
List of Solid-State Relay Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solid-state relay companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solid-state relay companies profiled in this report include-
• Broadcom
• Anacon Electronic
• Carlo Gavazzi
• Omron
• Omega Engineering
• Fujitsu
• Crydom
• Celduc Relais
• Vishay Intertechnology
• Rockwell Automation
Solid-State Relay Market by Segment
The study includes a forecast for the global solid-state relay market by mounting type, output voltage, current rating, application, and region
Solid-State Relay Market by Mounting Type [Analysis by Value from 2018 to 2030]:
• Panel
• PCB
• DIN Rail
• Others
Solid-State Relay Market by Output Voltage [Analysis by Value from 2018 to 2030]:
• AC
• DC
• AC/DC
Solid-State Relay Market by Current Rating [Analysis by Value from 2018 to 2030]:
• Low (0A–20A)
• Medium (20A–50A)
• High (More than 50A)
Solid-State Relay Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Solid-State Relay Market
The solid-state relay (SSR) market has remained dynamic and continues to transform on account of the changes in technology, growth of industrial automation, as well as changes in the regulatory framework within this sector. Such trends are shaping and reshaping major markets such as the United States, China, Germany, India, and Japan. To each of these regions there are also unique developments evolving around the local appetites and technologies.
• United States: There is a boom in the US solid-state relay market due to growing use in industrial automation and renewable energy sectors. Some of the growing innovations include use of SSRs controlled by smart IoT devices as well as other advances and energy efficiencies. Major players are concentrating their efforts on improving product quality and increasing the scope of their use in intelligent power grids and Electric vehicles.
• China: There is increasing market for solid state relay products in China as a result of industrial revolution and development of smart manufacturing. High speed rail and robotics are some of the areas where solid state relay products have been implemented. Issuing in China manufacturers are pursuing R&D spending by design cheaper cost effective and high performance solid state relay owing to the push of the country towards advanced technology solutions.
• Germany: Now the market for SSR in Germany is counteracting instability owing value energy efficiency drives and automation in the place. One of the advancements made is the introduction of miniaturized high power solid state relays which are best suited for hostile environments. There are also measures to upgrade the SSRs within the industries to interconnect with the 4.0 technologies and increase their usage in the renewable energy schemes.
• India: In India, the market for SSR is on the rise because of expanding industrialization and rejuvenation of the existing structures. Key modifications include the growth of the use of SSRs in the vehicles particularly in the manufacturing aspect and HVAC control systems. Besides, affordability and reliability are a rising tide with localization of prospective manufacturers to provide market specs mainly to the Indian market.
• Japan: The Japanese SSR market includes key features of modularization, miniaturization, and high frequency SSRs. The demand in the market is because of the requirement for high level of automation in manufacturing and volatile and consumer electronics. Recent activities include the incorporation of SSRs into expert control systems and thermal enhancement technologies to ameliorate performance and endurance.
Features of the Global Solid-State Relay Market
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Solid-state relay market size by various segments, such as by mounting type, output voltage, current rating, application, and region in terms of value ($B).
Regional Analysis: Solid-state relay market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different mounting types, output voltages, current ratings, applications, and regions for the solid-state relay market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solid-state relay market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q.1 What is the solid-state relay market size?
Answer: The global solid-state relay market is expected to reach an estimated $2.1 billion by 2030.
Q.2 What is the growth forecast for solid-state relay market?
Answer: The global solid-state relay market is expected to grow with a cagr of 6.7% from 2024 to 2030
Q.3 What are the major drivers influencing the growth of the solid-state relay market?
Answer: The major drivers for this market are rising adoption of high-tech electronics, growing complexity in circuits of electric vehicles, and increasing focus towards up-gradation of aging power of infrastructure.
Q4. What are the major segments for solid-state relay market?
Answer: The future of the solid-state relay market looks promising with opportunities in the industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical, and food & beverage markets.
Q5. Who are the key solid-state relay market companies?
Answer: Some of the key solid-state relay companies are as follows:
• Broadcom
• Anacon Electronic
• Carlo Gavazzi
• Omron
• Omega Engineering
• Fujitsu
• Crydom
• Celduc Relais
• Vishay Intertechnology
• Rockwell Automation
Q6. Which solid-state relay market segment will be the largest in future?
Answer: Lucintel forecast that AC is expected to witness the highest growth over the forecast period.
Q7. In solid-state relay market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period due to continual expansion of the automotive, food & beverage, building equipment, and manufacturing industries in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
Q6. Which digital binocular market segment will be the largest in future?
Answer: Lucintel forecasts that night vision is expected to witness the highest growth over the forecast period due to increasing use of digital binoculars for security and surveillance in military and paramilitary contexts.
Q7. In digital binocular market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to growing demand for bird watching equipment among sports enthusiasts especially in countries like US and Canada.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the solid-state relay market by mounting type (panel, PCB, DIN rail, and others), output voltage (AC, DC, and AC/DC), current rating (low (0A–20A), medium (20A–50A), and high (more than 50A)), application (industrial automation, building equipment, industrial OEM, energy & infrastructure, automotive & transportation, medical, and food & beverages), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to solid-state relay market or related to solid-state relay companies, solid-state relay market size, solid-state relay market share, solid-state relay market growth, solid-state relay market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.