Dual Relay Board Market Set for Rapid Growth And Trend, by 2025

Market Overview

Advancements in the electronics industry will continue fuelling the demand for dual relay boards around the world. Dual relay boards are one of the fundamental components of any electronic device or machine. Serving as a PCB (Printed Circuit Board) carrying a number of relay switches makes a dual relay board the most essential constituent of any electrical circuit. This has resulted in the prominence of dual relay boards in the global electronics industry. Increasing number of electrical components and rising production of new and advanced electronic goods will continue to instigate the growth of the global dual relay board market.

The global market for dual relay board is expected to register an exponential growth during the forecast period 2015-2025. The major trend impacting the market’s progress is the growing adoption levels of home automation systems. Automation programs and devices designed for creating efficient and time-saving operations are likely to raise the demand for dual relay boards. The growth of residential and commercial sector among developed and developing economies will continue inflating the use of dual relay boards that help ensure safety and convenience of electronic devices.

Dual Relay Board Market: Drivers & Restraints

The primary growth factor for the global dual relay boards market is its use in switching requirements in domestic as well as industrial settings. Along with it, the global market for dual relay boards is expected to witness ample growth during the forecast period, owing to factors such as,

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Irregularities occurring in the power distribution channels create fluctuation between high voltages and low voltages and damage electronic appliances sans dual relay boards.

Growing production levels of electronic devices serve as one of the biggest growth driver of the global dual relay boards market. The high technological advancements in electronic industry will hike the demand for dual relay boards.

Hybrid vehicles fitted with advanced electronic gadgets and devices are becoming a prominent consumer preference, creating rise in the demand for installing more dual relay boards within the electrical mechanism of such vehicles.

The additional factors supplementing the market growth are the low production cost of dual relay boards and their use to control AC or DC motors and multiple power devices. Moreover, the diverse benefits of dual relay boards as compact, robust and reliable automation tools are driving the upsurge of the global market.

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On the other hand, mandatory periodic maintenance, growing requirements of heavy duty instruments, and rising pollution levels are restraining the growth of the global market. Ageing of the dual relay board components and voltage trips occurring due to dust accumulation are some of the major challenges hampering the progress of the dual relay boards market. Also, the global dual relay board market future is expected to be undesirably affected due to the inflating prices of copper wires.

Market Segmentation

A stratified analysis on the demand for dual relay boards will provide monitoring of the growth of the global market, and stress the focus on key profitable areas. The global market for dual relay boards can be segmented on the basis of product type and the industrial applications of dual relay boards.

On the basis of product type, the market is segmented into,

On the basis of application, the market is segmented into,

Region-wise Outlook

The global dual relay board market is also segmented into the key geographical regions of the world. Asia-Pacific is expected to retain its dominance in terms of market share in the global market. Proliferation of smartphones and other electronic devices in APAC countries such as China and India will continue to fuel demand for dual relay boards. North America and Europe will join Asia as the key regions favourable for a substantial growth of the dual relay boards market.

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Dual Relay Board Market: Competitive Landscape

The key companies actively participating in the global dual relay board market include Phidgets, Laurel Electronics, Inc, MicroController Pros LLC., Jameco, Solarbiotics Ltd, Pencom Design, Leashelectronics, Kingdom Electronics and Honeywell International etc.