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Relay Market Size to Reach $15.20 billion by 2030 | MarketsandMarkets™

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CHICAGO , Nov. 4, 2024 /PRNewswire/ — The global Relay Market is anticipated to grow from estimated USD 10.12 billion in 2024 to USD 15.20 billion by 2030, at a CAGR of 7.0% during the forecast period. The increasing incorporation of renewable energy sources that are subject to intermittency such as, solar energy wind energy, into electrical grids brings new obstacles. This is because relay systems help maintain stability in the grid by managing power variations, connecting different sources of energy seamlessly, and protecting the grid against faults. With the increase of renewable penetration, relays assist in controlling the voltage and frequency so as to protect the system and the energy from the volatile nature of renewable energy sources. Advanced relay solutions thus become inevitable to make certain structures balancing and supplying energy are trustworthy.

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By Panel Mounting Type

Increased demand for the panel-mounted relays is being driven by this new smart grid technology; relay plays an integral role in all monitoring and control systems. The advanced digital communication and IoT technology underpin the smart grid’s real-time monitoring, data analysis, and efficient management of electricity distribution. This requires reliable relay systems that make operations effortless smooth, improve the reliability of the grid, and support self-healing functions. Panel-mounted relays are critical to achieving accurate control and coordination among smart grid-related resources. Therefore, they become crucial components in modern energy infrastructures, primarily for the management of distributed energy resources and even in demand response strategies.

Electromechanical Relay, by Type

The type segment is further segmented into 6 types: Electromechanical Relay, Thermal Relay, Reed Relay, Time Relay, Solid State Relay (PhotoMOSFET), and Others. Electromechanical Relay segment is expected be the drive the market. Governments around the globe are actively fostering energy efficiency initiatives aimed at reducing energy consumption and promoting sustainable practices. These efforts include incentivizing the adoption of energy-efficient technologies and appliances across various sectors, which in turn drives the demand for electromechanical relays in modern power systems. As utilities and industries seek to optimize energy use and enhance grid reliability, electromechanical relays become essential components for managing and controlling power distribution effectively. By enabling precise switching and monitoring of electrical loads, these relays play a pivotal role in achieving energy savings and supporting the transition to a more sustainable energy landscape. Overall, the push for energy efficiency not only benefits consumers but also contributes significantly to reducing carbon footprints and advancing environmental goals worldwide.

Regional Analysis

The rapid growth of emerging economies, especially India and China, is considerably increasing the demand for relay systems across various sectors, including industrial and residential. As these countries continue their development of infrastructure and manufacture capabilities, there is a great need to ensure that the electrical system implemented in these areas is reliable and efficient. Relays have played an excellent role in ensuring smooth operations, protection of equipment, and management of power at industrial, residential, and other levels. This has increased mainly due to higher urbanization and high consumption of energy. Such developments have shifted the focus towards smart cities and thus on relay technology.

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Key Players

Some of the major players in the relay market are Panasonic Holdings Corporation (Japan), HONGFA (China), TE Connectivity (Switzerland), OMRON Corporation (Japan), and GE Vernova Inc. (US) among others. The major strategies adopted by these players include new product launches, acquisitions, joint ventures, and expansions.

HONGFA

HONGFA is a global leader in the relay industry, known for its specialization in electromechanical relays. Established in China, HONGFA has grown to become the largest relay manufacturer worldwide, commanding a significant share of the market. The company offers a diverse range of relays, including power relays, automotive relays, HVDC (High Voltage Direct Current) relays, and latching relays, catering to various industries such as power, automotive, and industrial automation.  HONGFA’s strong focus on research and development is reflected in its advanced production capabilities, with multiple R&D and manufacturing facilities across China. This vertical integration allows HONGFA to streamline its operations, reducing costs while maintaining high-quality standards. The company has sales channels in Europe and America, as well as operations in Indonesia and the establishment of a factory in Germany.

OMRON Corporation

OMRON Corporation is a key player in the global relay market, particularly known for its contributions to industrial automation and electronic components. Headquartered in Japan, OMRON is renowned for producing a wide range of relays, including solid-state relays, which are essential for switching operations in automation and control systems. OMRON’s leadership in the relay market is driven by its innovations in automation technologies, along with its global manufacturing capabilities. The company’s relays are widely used across industries like automotive, electronics, and manufacturing, making it a versatile and crucial supplier. Its products are designed to improve operational efficiency, reduce energy consumption, and enhance safety. OMRON Corporation operates in more than 210 countries and has more than 50 manufacturing plants and 1 research and development center in Japan. The company has more than 150 offices in the world and has more than 10 subsidiaries globally.

TE Connectivity

TE Connectivity is a key player in the global relay market, offering a wide range of relay technologies that serve multiple industries. The company specializes in connectivity and sensor solutions, providing relays that cater to sectors such as automotive, industrial, and telecommunications. TE’s product portfolio includes signal, power, and automotive relays, which are critical for enhancing automation and safety in modern industries. TE Connectivity is well-regarded for its innovation, particularly in designing highly reliable and durable relays for both standard and demanding environments. The company has established itself as a leader by focusing on industrial automation and smart manufacturing trends, offering solutions that improve efficiency and flexibility in production processes. Additionally, TE’s global reach, with operations in regions such as North America, Europe, and Asia, allows the company to cater to a diverse customer base and maintain a strong market presence.

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Related Reports:

Solid State Cooling Market

Solid State Relay Market

MOSFET Relay Market

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Competition Bureau publishes report on Canada’s Competition Summit 2024

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GATINEAU, QC, Nov. 14, 2024 /CNW/ – Today, the Competition Bureau published a report highlighting the key takeaways from “Canada’s Competition Summit 2024: Market Dynamics in the AI Era,” which took place in Ottawa and virtually on September 16, 2024.

The event featured experts from domestic and international competition authorities, regulatory bodies, businesses and non-governmental organizations, as well as the legal and academic communities. The discussions focused on:

the current AI landscape;the impacts of AI on competition across markets; and,international and domestic regulatory approaches to AI.

The report published today summarizes 5 key takeaways from these discussions:

AI is having an impact on competition across sectors of the economy, presenting both opportunities and risks.Regulatory frameworks need to adapt to address the unique challenges posed by AI.International cooperation is crucial for effective regulation and enforcement in AI-driven markets.There is a need for transparency in AI systems to ensure accountability and consumer trust.The role of big tech in AI development is contentious.

The Bureau thanks all attendees, panelists and speakers, who helped advance the conversation on these emerging issues related to AI. We look forward to continuing to discuss competition policy issues and opportunities at Competition Summits in the years to come.

Quotes

“As Canada’s competition watchdog, the Competition Bureau needs to be at the forefront of AI and understand its impact on the competitive landscape. I am thankful for the important contributions from our panelists and speakers at this year’s Summit, as they will help us continue to build our understanding of AI’s impacts on competition.”

Matthew Boswell,
Commissioner of Competition

Quick facts

This year’s event was the fifth annual edition of Canada’s Competition Summit. Previous Summits covered digital enforcement (2020), competition and growth (2021), green growth (2022), and whole-of-government approaches to policy (2024).Over 500 participants from Canada and abroad attended the 2024 Summit.This year’s Summit is part of our ongoing work to better understand AI, how it might affect competition, and how we can address potential anticompetitive harm from AI and promote competition in AI markets. This work also includes cross-governmental collaboration through the Canadian Digital Regulators Forum and a consultation on the Discussion Paper on Artificial intelligence and competition earlier in 2024.In keeping with the theme of this year’s Summit, this report was drafted using a combination of human effort and AI technology. This is a first for the Bureau. We used an artificial intelligence program to summarize the discussions held at Canada’s Competition Summit 2024 and to develop the first draft of these key takeaways. The final content was fact-checked and quality-controlled by Bureau personnel.

Related products

Report on Summit 2024: Competition in the AI EraCanada’s Competition SummitCompetition Bureau to host summit on competition and artificial intelligence this SeptemberCanada’s Competition Summit 2024: Competition Bureau releases details about panels and expert participants

Associated links

Exploring policy approaches to unlock competition (2023)The Competition and Green Growth Summit (2022)The Competition and Growth Summit (2021)Digital Enforcement Summit (2020)Artificial intelligence and competition: Discussion paper (2024)Canadian Digital Regulators Forum

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

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Shipt Saves the Season with Unbeatable Convenience, Exclusive Promotions, and Membership Savings

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Get everything from gifts to hosting essentials reliably delivered via Shipt

BIRMINGHAM, Ala., Nov. 14, 2024 /PRNewswire/ — This holiday season, Shipt is spreading cheer with delightful same-day delivery, unmatched deals, and everything customers need all season long. From hosting family dinners to searching for the perfect gifts to grabbing last-minute holiday essentials and toasting to the new year*, Shipt helps ease the stress with exclusive promotions and 50% off its annual membership for a limited time.

To sweeten holiday shopping, Shipt is launching Season of Savings, an annual event packed with discounts and surprises on the products customers want all season long. Plus, Shipt has added over 2,000 new retail locations nationwide this year, including Ulta Beauty at Target, The Fresh Market, Lowe’s, and local favorites like Giant Eagle and Save Mart, giving members even more curated options. These new additions join favorites like Target, CVS, and Petsmart, as well as beloved local grocers.

SHIPT MEMBERSHIP: CONVENIENCE MEETS HOLIDAY MAGIC
Shipt’s $49 annual membership promotion (regularly $99) is now available through January 4, 2025, making it easier than ever to enjoy same-day delivery from your favorite stores. With an annual membership, customers get unlimited same-day delivery on orders over $35 and exclusive savings, and a range of members-only perks.

DEALS ACROSS ALL HOLIDAY NEEDS

In addition to the membership promotion, Shipt’s Season of Savings also features incredible deals across a wide variety of popular holiday categories, including:

Season-Long Deals (November 1-January 1)

$15 off your order of $60 or more with code HOLIDAY15**Half-off annual membership $49 (reg. $99) with code SHIPTGIFT

Thanksgiving Deals

November 10-16, at Target and all grocery stores***:Spend $25, get $10 on household essentialsBuy one, get one 50% off on bath and body productsBuy one, get one 30% off on cough, cold, and flu, pain and fever, vitamins and supplements30% off kitchen and diningSpend $20, save $5 on baby essentials30% off pet essentials10% off turkeyNovember 17-23: $10 off order of $50+ for those with Shipt student membershipsNovember 25-27: spend $35, save $10 on on last-minute Thanksgiving essentials at all grocery stores and Target****

December Holiday Deals

December 1-14: 25% off orders of $40 or more from Ulta Beauty at Target, CVS, Walgreens, PetSmart, Petco, Lowes, Carters, Office Depot, and Office Max (max savings of $10)*****December 8-24: 20% off top gifting categories at Target + Meijer (Shipt members only)******

ALL-NEW GIFT CARD EXPERIENCE
Not sure what to give that special someone? A Shipt gift card is the perfect gift!

A Shipt gift card never expires, and with an all-new digital facelift, including multiple card designs and e-gifting options, a Shipt gift card lasts beyond the holiday season. And even better, take advantage of the season-long 50% off membership offer when purchasing an annual membership gift card. Terms and conditions apply. Please check out shipt.com/gift for more information.

SHIPT TO THE RESCUE: HOW IT WORKS
No matter how hectic the holiday calendar gets, Shipt makes shopping stress-free:

Download the Shipt app or visit Shipt.com to sign up for a membership or take advantage of a 14-day free trial**. Target Circle 360 members can enable access to the Shipt marketplace by visiting shipt.com/target-circle-360. Choose the store you wish to order from.Build your shopping list with a wide range of categories, from fresh groceries to festive decorations.Select a convenient delivery window and a trusted shopper with Shipt will shop your order, communicating with you about out-of-stocks, relevant substitutions and where they are in the shopping process (option to select back-ups for products out of stock ahead of time).

To learn more about Shipt’s holiday offers and start saving today, visit www.shipt.com or download the Shipt app.

About Shipt
Shipt is a retail tech company that connects people to reliable, high-quality delivery with a personal touch. Through the power of technology, Shipt connects customers to the things they want from the stores they love, workers to new earning opportunities, and retail businesses to more satisfied customers. Headquartered in Birmingham, Alabama, Shipt brings people the flexible solutions they need with the above-and-beyond service they expect. Shipt is an independently operated subsidiary of Target Corp. and is available to 80% of the U.S. population. For more information, please visit Shipt’s Newsroom.

*States with alcohol delivery availability: Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Kentucky, Massachusetts, Michigan, Minnesota, Missouri, North Carolina, Nebraska, Ohio, Tennessee, Texas, Georgia, Iowa, Idaho and Mississippi

**Offer valid for new customers only, returning customers are ineligible. 14 day trial will renew at the applicable membership rate at the end of the trial. Cancellation available free of charge anytime during trial. Offer is subject to Shipt Promotion Terms and Conditions. Deliveries under $35 with a membership will incur a $7 fee. All orders with alcohol (where available) may incur a $7 alcohol fee. Service fees may apply and will vary by retailer and location. See Terms of Service

***Offer expires 11/16/2024. Discount available at select retailers and applies to select items. Discount applied automatically at check out for qualifying orders. Limit one per order. Promotion is subject to Terms and Conditions.

****Purchase of qualifying products at select retailers of $35 or more must be placed by 11/27/2024 at 11:59 p.m. HT to qualify for $10 off, which will automatically apply to qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

*****Store availability varies by location. Offer valid 12/1/24 through 12/14/24. Carter’s, CVS, Lowe’s, Office Depot OfficeMax, PetSmart, Petco, Walgreens, or Ulta Beauty at Target order of $40 or more must be placed by 12/14/24 at 11:59 p.m. HT to qualify for max savings of $10, which will automatically apply to qualifying order at checkout. Offer not valid for orders containing alcohol items. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

******Purchase of qualifying products at Target or Meijer must be placed by 12/24/2024 at 11:59 p.m. HT to qualify for 20% off, which will automatically apply to a qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

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Kearney Launches Geopolitical Service Line to Give Executives New “One-Stop-Shop” for Navigating Elevated Global Uncertainty

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WASHINGTON, Nov. 14, 2024 /PRNewswire/ — Kearney, a leading global management consulting firm, today announced the launch of its newest offering, aimed at helping clients steer their companies through our ever-changing world. Kearney’s Geopolitical Dynamics provides executives with a holistic solution to navigate today’s elevated instability and its impact on business.

In a new era marked by persistent economic uncertainty, regulatory shifts, great power competition, and corresponding escalations, executives face an unprecedented volume of challenges and new opportunities. A recent Kearney assessment determined that fewer than 20% of Fortune 500 companies are ready for this “new era,” defined by heightened geopolitical and economic volatility, a shift from globalization to regionalization, and the emergence of artificial intelligence.

While traditional geopolitical advisory models served clients well in a more stable environment, today’s persistent uncertainty calls for a new approach. Kearney is stepping up with a comprehensive, end-to-end solution that enables executives to proactively navigate complexity and transform it into a catalyst for opportunity. Geopolitical Dynamics offers clients a path to accelerate the development of their in-house capabilities to navigate the implications for their strategy, operations, and people, mitigating risks and capitalizing on emerging trends along the way.

“After 40 years of operating in a globalized landscape, executives now face the urgent challenge of building internal capabilities to navigate heightened geopolitical instability. They must address immediate threats to business while managing long-term planning of markets, supply chains, and the broader enterprise,” said Drew DeLong, Global Lead of Geopolitical Dynamics at Kearney. “This new service is designed to give executives a one-stop shop to navigate with confidence and stay ahead.”

Geopolitical Dynamics offers a comprehensive suite of services that covers every stage of geopolitical management:

Granular Business Intelligence: Anticipating the “what’s next” and “what’s to come” at a granular level in partnership with an expansive global network of intelligence, government, and industrial partners.

Executive Priority Setting: Aligning executive teams and boards around where and why priorities should be set based on all readily available intelligence and business-specific nuances using tabletop exercises, granular scenario planning, and targeted diligences.

Operational Execution: Mobilizing supply chains and enterprise footprints to respond to immediate and long-term needs (including contingencies), leveraging nearly 100 years of Kearney’s heritage and excellence in strategic operations.

Geopolitical Org Ownership: Defining who and how geopolitics are owned and managed within the business today—at the board, CEO staff, and management levels—including the charting of Geopolitical Units and deploying Government Affairs to drive business outcomes through targeted government engagement that drives competitive industrial strategy.

This approach provides a simple but powerful solution to anticipate, plan, and respond faster to emerging threats and opportunities with clarity, speed, and ownership while minimizing disruption to the business—something that is critical to the executive agenda today.

“Boards and leadership teams can no longer afford to treat geopolitical matters in isolation from the standard course of business,” noted Colette LaForce, independent Board Director, Kearney advisor, and former CXO of Dell Services and AMD. “The C-suite needs a streamlined solution that cuts through generic intelligence, aligns our teams, and enables rapid response. Kearney has built a model that is designed to do just that for organizations of all sizes and in all sectors.”

This offering will draw on Kearney’s expansive capabilities to offer executives truly differentiated insights: product design analysis from PERLab, on-the-ground data from reshoring experts, market insights from the Consumer Institute, detailed trends from the Supply Chain Institute, and macroeconomic forecasts from the Global Business Policy Council.

For more information about how Kearney’s Geopolitical Dynamics capability will help you navigate the road ahead, please visit Geopolitical Dynamics or contact one of our experts listed below.

Drew DeLongDrew.Delong@kearney.com

Doug MehlDoug.Mehl@kearney.com

Ben T. Smith, IVBen.Smith@kearney.com

About Kearney

Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. To learn more about Kearney, please visit www.kearney.com.

Press contact 

US media contact:
Meir Kahtan
MKPR
mkahtan@rcn.com
+1 917-864-0800

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