According to a market report by Lucintel, 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.

In this market, AC, DC, AC/DC are the major segments of solid-state relay market by output voltage.

Lucintel forecast that AC is expected to witness 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 highest growth over the forecast period due to continual expansion of the automotive, food & beverage, building equipment, and manufacturing industries in the region.

Broadcom, Anacon Electronic, Carlo Gavazzi, Omron, Omega Engineering, Fujitsu, Crydom, Celduc Relais, Vishay Intertechnology, and Rockwell Automation are the major suppliers in the solid-state relay market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com