Solid State Relay Market Share Report, Size & Forecast-2030

[Research Report] The Solid State Relay market size is expected to grow from US$ 1.0 billion in 2022 to US$ 1.80 billion by 2031; it is estimated to grow at a CAGR of 6.5% from 2022 to 2031.

Analyst Perspective:

The Solid State Relay market has witnessed significant growth in recent years. Factors such as the growing use of high-tech electronics and automation in the consumer electronics sector, increasing complexity in car circuits of electric vehicles, and the robust properties of solid-state relays are driving the expansion of the solid-state relay market.

Market Overview:

A solid-state relay (SSR) is an electronic switching device that uses solid-state components, such as semiconductor devices, to perform the same function as an electromechanical relay. Unlike traditional electromechanical relays, SSRs have no moving parts, which makes them more reliable, durable, and faster in operation. Solid State Relay is commonly used in industrial applications where high switching speeds, long life, and noise immunity are required. They are also used in various other fields, including building automation systems, measurement equipment, and fire prevention systems. Solid State Relay is used in various industries, such as automotive, industrial automation, aerospace, and telecommunications. They are ideal for a wide range of ON/OFF switching applications, as they have no moving parts or contacts. Some common applications of SSRs include controlling AC power for ON/OFF switching, light dimming, motor speed control, and lamp dimming. The global solid-state relay market has been experiencing steady growth due to the increasing adoption of SSRs in these industries.

Solid State Relay offers advantages such as fast switching speeds, long lifespan, low power consumption, and high resistance to shock and vibration. These characteristics make them suitable for applications where traditional electromechanical relays may not be ideal.

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Solid State Relay Market: Strategic Insights

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Market Driver:

Growing Automation in Consumer Electronics Industry to Drive Growth of The Solid State Relay Market

The consumer electronics industry has undergone a remarkable transformation in recent years, with automation revolutionizing the way consumers interact with their devices. From smart home systems and wearable devices to home appliances and entertainment systems, automation has become a key driver of innovation and convenience. The consumer electronics business comprises home gadgets, beverage dispensing equipment, and office machines. The worldwide consumer electronics industry is predicted to grow due to the rising usage of high-tech products. Home devices such as TVs, air conditioners, microwave ovens, and refrigerators are becoming smarter. The digitalization of consumer electronics has also been visible in beverage distribution machines and office devices such as fax machines and inverters. The shift in consumer behavior towards the adoption of sophisticated, user-friendly, and smart technology has increased with the digitalization of consumer electronics. As the consumer electronics industry continues to embrace automation, the demand for solid-state relays is expected to grow exponentially. The advantages Solid State Relay offers in terms of efficiency, reliability, compactness, and longevity make them invaluable components in enabling seamless automation in consumer electronics devices. The solid-state relay market is poised to thrive as the industry propels forward, driven by the need for enhanced efficiency and improved user experiences in this era of automation.

Furthermore, in recent years, the adoption of Solid State relays has exploded due to their benefits over traditional electromechanical relays. Solid State Relay provides benefits such as:

• No moving parts
• Extended lifespan
• High stability
• Faster switching speed
• Noise immunity
• Compact size
• No contact erosion

These advantages have made solid-state relays increasingly popular in various industries, including industrial automation, building automation, and control systems, where reliability, speed, and durability are crucial factors.

Segmentation and Scope:

The "Solid State Relay Market" is segmented based on mounting, output, application, and geography. Based on mounting, the market is segmented into panel mount and PCB mount. Based on output, the market is segmented into AC, DC, and AC/DC. Based on application, the market is segmented into consumer electronics, construction, food and beverage, automotive and transportation, and healthcare. The market, based on geography, is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Segmental Analysis:

Based on output, the market is segmented into AC, DC, and AC/DC. The AC output segment in the Solid State Relay market is expected to dominate with the highest share in 2022. AC relays are offered in a variety of current ratings, ranging from 0 to 150 amps. Because of their large ampere range, they are employed in practically all applications, from industrial automation to medical equipment. The global industrial automation industry is driving up demand for AC relays.

Regional Analysis:

North America holds one of the largest global Solid State Relay market shares. The solid-state replay market in North America is expected to experience significant growth owing to increased investment in electronic devices and equipment manufacturing, as well as the expansion of data centers and power plants in Canada and the U.S. The formation of the "Advanced Manufacturing Partnership" in the United States aims to make the country more competitive in the global economy by investing in upcoming technologies, thereby driving the growth of the market. Furthermore, the National Network for Manufacturing Innovation, which comprises developing regional hubs to develop cutting-edge manufacturing technologies for innovative products in this sector, is expected to propel the industry’s growth. With a favorable business environment and a growing focus on technologically advanced solutions, the North American Solid State Relay market is expected to witness sustained expansion and offer lucrative opportunities for industry players.

Key Player Analysis:

The Solid-State Relay market analysis consists of players such as Rockwell Automation Inc., ABB Ltd, Omron Corporation, Fujitsu Limited, and Mitsubishi Electric are among the key Solid State Relay market players profiled in the report.

Recent Developments:

 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the market. A few recent key Solid State Relay market developments are listed below: 

• In February 2023, Omron Industrial Automation added two new industrial relay designs to its existing product line. The slim-style relays are offered in mechanical or solid-state configurations and have a 6.2 mm broad footprint.
  
  
• In February 2023, ATO, China's relay original equipment manufacturer (OEM), announced the release of its proprietary Solid State Relays (SSR) and Timer Relays. These relays are available in a variety of types and specifications to satisfy the demands of varied applications.
• In May 2022, Texas Instruments announced the launch of a new range of solid-state relays that are specifically designed for electric vehicles (EVs). These relays are automotive-qualified and come with isolated drivers and switches, ensuring high levels of reliability to enhance the safety of EVs. In addition, the relays offer small solution sizes, which helps reduce the overall cost of the powertrain and battery-management systems in EVs. This new portfolio of isolated solid-state relays from Texas Instruments aims to meet the growing demand for reliable and cost-effective components in the EV market.
• In May 2022, Crouzet, a prominent French manufacturer of electromechanical and electronic components for the aviation, land transport, and machine industries, expanded its product portfolio to now include single-phase solid-state relays (SSRs). These SSRs are categorized into four distinct series: GN, GN+, GNA, and GNS. An important feature of these products is their IP20 rating, which ensures a high level of protection against solid objects and provides a safe operating environment. This product expansion by Crouzet aims to cater to the specific needs of businesses operating in various industries, further enhancing their offerings and strengthening their position in the market.
• In January 2021, Littelfuse, Inc., a global maker of circuit protection, power control, and sensor solutions, launched the CPC1561B Solid State Relay (SSR) today. The CPC1561B is the market's highest current control (1 A, 60 V) normally open SSR that has both current control and thermal shutdown circuits. The dual fault protection feature of the compact, surface-mount CPC1561B SSR provides a durable solution for demanding situations that electromechanical relays and ordinary SSRs cannot deliver.
• In December 2019, Gefran SPA, an Italian company, launched its first range of single-phase solid-state relays with IO-Link digital communication protocol, called the GRP-H series. This new product is an upgraded version of the GRS-H series and offers advanced diagnostics to detect any partial load break early. The GRP-H series also extends the functions for controlling electrical resistance in industrial heating. The new product is available in a current range from 15A up to 120A and has ultra-slim dimensions. The product offers digital and proportional (V/mA) command control modes (ZC/BF/HSC/PA) and linear control modes (V/mA). The new product expanded Gefran SPA customer base and increased its market share in the solid-state relay market.
• In February 2021, Ameren, one of the largest utility companies in the United States, announced a five-year grid modernization plan worth USD 7.6 billion. The plan aims to enhance the company's infrastructure, improve reliability, and integrate more renewable energy sources into its portfolio. The plan is expected to create engineering, planning, and construction jobs, as well as increase orders with local suppliers to provide necessary materials.

Report Scope

Solid State Relay Market Regional Insights

The regional trends and factors influencing the Solid State Relay Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Solid State Relay Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Solid State Relay Market Report Scope

Solid State Relay Market Players Density: Understanding Its Impact on Business Dynamics

The Solid State Relay Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Solid State Relay Market are:

1. Anacon Electronic Sales, Inc.
2. Broadcom
3. Carlo Gavazzi Holding AG
4. Crydom Inc.,
5. FUJITSU

Disclaimer: The companies listed above are not ranked in any particular order.