Solid State Relay Global Market Report 2024

The global solid state relay market has grown strongly in recent years. It will grow from $1.35 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed during the historical period can be attributed to several factors, including the rising demand for energy-efficient solutions, the continual growth of automation and industrialization, advancements in reliability and longevity of solid-state relays, their ability to withstand temperature and vibration, as well as their wide operating voltage range. Additionally, increased adoption within the automotive and transportation sectors contributed significantly to this growth.

The global solid state relay market is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. Anticipated growth in the forecast period is expected to be driven by various factors, including the integration of renewable energy sources, the ongoing electrification of vehicles, an upsurge in medical equipment applications, the expansion of telecommunications infrastructure, increased utilization within data center applications, and the implementation of smart grid technologies. Key trends projected for this period encompass continuous advancements in semiconductor technology, the emergence of digital solid-state relays (SSRs) and intelligent control systems, a focus on achieving high reliability and extended lifecycle for SSRs, as well as the integration of fault detection and diagnostics within these relay systems.

The solid-state relay market is expected to witness growth driven by the increasing demand for electric vehicles (EVs). Electric vehicles, powered by electricity stored in batteries, are rapidly gaining popularity as a sustainable alternative to traditional vehicles running on fossil fuels. Solid-state relays play a crucial role in EVs by offering longer operating lives compared to mechanical relays and providing higher battery isolation capability. This contributes to the rising adoption of EVs and hybrid vehicles, marking a shift towards more sustainable transportation options. The Global EV Outlook 2022 report published by the International Energy Agency revealed a significant surge in global EV sales in 2021, reaching 6.6 million units, double the previous year's figures. With the global transition towards electric mobility, the solid-state relay market is expected to benefit from increased demand driven by the EV industry.

The growth of the solid-state relay market is further propelled by the increasing electricity demand and consumption worldwide. As the demand for electrical power rises, a robust electrical infrastructure becomes essential, and solid-state relays play a vital role in meeting these requirements. With their fast switching speeds, high reliability, and adaptability to diverse environments, solid-state relays contribute to the efficiency and stability of electrical systems. A report by the Energy Institute highlighted a 2.3% increase in total global electricity generation in 2022. The growing electricity demand, especially in non-OECD countries, underscores the importance of technologies like solid-state relays in supporting and enhancing electrical infrastructure.

Technological advancements represent a key trend in the solid-state relay market. Ongoing developments in electronic devices drive the demand for innovative and reliable electronic relays. The industry is witnessing the implementation of advanced technologies such as the Industrial Internet of Things (IIoT), solid-state relays with higher power supply rates, smart grids integrated with solid-state relays, and advanced isolation technology. Major companies in the market are focused on introducing new products to strengthen their market position. For example, in May 2022, Texas Instruments launched a new portfolio of solid-state relays, including automotive-qualified isolated drivers and switches. These products offer industry-leading dependability, contributing to the safety of electric vehicles. The isolated solid-state relays enable compact solutions, reducing the cost of powertrain components and enhancing the safety of high-voltage battery-management systems in EVs.

Major players in the solid-state relay market are actively engaged in the development of innovative products, such as latching solid-state relays, to not only expand their customer base but also gain a competitive edge in the market. Latching solid-state relays represent a type of bistable electronic switching device that maintains its on/off state without requiring a continuous control signal. This unique feature offers advantages in terms of energy efficiency and memory function. In a notable example, ISOCOM Limited, a UK-based industrial component manufacturer, introduced a latching solid-state relay capable of handling currents up to 60Amps in September 2022. This innovative relay includes positional memory, ensuring the retention of on/off status until a new signal prompts a change. Positioned as a replacement for mechanical counterparts, these relays offer a reliable single-switch solution with electronic latching, enhancing stability. They find applications in various industries, including space and aerospace, for tasks such as power supplies, solar panels, and motor control automation. ISOCOM's latching solid-state relay design requires significantly smaller current for activation compared to other switching devices, contributing to its energy efficiency.

In March 2021, Solid State, a UK-based electronics component manufacturer and a unit of Edison Group, made a strategic acquisition by purchasing Willow Technologies for $6.14 million. This acquisition had several significant impacts, including the addition of the Durakool range of relays to Solid State's existing value-added distribution activity. This addition strengthened Solid State's offering in the Value-Added Supplies division, particularly in markets related to electric vehicles, EV charging, green tech, medical, and military applications. Moreover, the acquisition supported Solid State's strategic objective of expanding its geographic reach. Willow Technologies, the acquired company, is a UK-based manufacturer specializing in electronic products, including solid-state relays.

Major companies operating in the solid state relay market report are Crydom Inc., Omron Corporation, Carlo Gavazzi Holding AG, Vishay Intertechnology Inc., Omega Engineering, Rockwell Automation Inc., ABB Ltd., Alstom SA, Sensata Technologies Holding CO U.S. B.V., General Electric Company, Fujitsu Limited, Teledyne Relays Inc., Broadcom Inc., Eaton Corporation, TE Connectivity, Avago Technologies Ltd., Celduc Relais, Infineon Technologies, IXYS Corporation, Panasonic Corporation, Sharp Electronics Corporation, Durex Industries, Crouzet Automatismes SAS, AC/DC Electronics Inc., Advanced Energy Industries Inc., Amphenol Borisch GmbH, HONGFA Technology Co. Ltd., Artesyn Embedded Technologies, Axicom Technology Co. Ltd., Bourns Inc.

Asia-Pacific was the largest region in the solid state relay market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the solid state relay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solid state relay market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These relays are typically available in various mounting types, including panel, PCB (Printed Circuit Board), DIN rail, and other plug-in configurations. Panel-mounted static relays are designed to accommodate wiring using bare cables, crimped cable ends, fork lugs, or ring lugs. They are rated for controlled DC circuit operation and support load voltages ranging from 24 to 300 V AC output. SSRs come in different output configurations such as AC SSR, DC SSR, and AC/DC Output SSR, and they vary in power ratings categorized as low (0-20A), medium (20A-50A), and high (>50A). These devices find applications across various sectors including energy and infrastructure, industrial Original Equipment Manufacturers (OEMs), building equipment, food and beverage industries, automotive and transportation sectors, as well as industrial automation.

This report provides solid state relay market statistics, including solid state relay industry global market size, regional shares, competitors with a solid state relay market share, detailed solid state relay market segments, market trends and opportunities, and any further data you may need to thrive in the solid state relay industry. This solid state relay market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The solid-state relay market consists of sales of mechanical contacts, transistors, digital circuit gates, LEDs, semiconductors, SCR, TRIACs, transistors, thyristors, and diodes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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