SSRs consist of electronic parts with no mechanical contacts. Therefore, SSRs have a variety of features that mechanical relays do not incorporate. The greatest feature of SSRs is that SSRs do not use switching contacts that will physically wear out.
According to the report, global revenue for Solid State Relay was valued at $ 838.21 million in 2017, and is expected to generate revenue of $ 1263 million by end of 2025, growing at a CAGR of slightly above 5.26% between 2017 and 2025.
Key vendors analysed in this market research are
· Fujitsu Limited
· Rockwell Automation
· Carlo gavazzi
· JiangSu GlOD Electrical Control Technology
· Bright Toward
Of the major players of Solid State Relay, OMRON maintained its first place in the ranking in 2017. OMRON accounted for 13.53% of the Global Solid State Relay revenue market share in 2017. Top 3 players in this market include OMRON, Panasonic and Crydom.
On the basis of product type, the Panel Mount segment is projected to account for the largest volume market share during the forecast period; this segment is estimated to account for 33.30 % sales volume market share by the end of 2025.
In the applications, the Industrial Automation Equipment segment was estimated to account for the highest volume share of 42.96% in 2017 and is expected to gain significant market share by the end of 2025.