Surge Protection Devices Market Analysis

The market is segmented by type into hard-wired, plug-in, and line cord, out of which, the plug-in segment is anticipated to hold the largest share in the global surge protection devices market. This can be accounted to the high suitability of plug-in devices for installation at the origin of the network, and their ability to effectively protect equipment from indirect lightning strikes. Additionally, on the basis of end user, the industrial segment is predicted to acquire the largest share during the forecast period, which can be credited to the increasing requirement for servers, data centers and communication systems in industries. Apart from these, growing applications of industry 4.0 initiative for electric machinery and automobiles to facilitate remote maintenance and diagnostics is also assessed to accelerate growth of the market segment in the coming years. 

Our in-depth analysis of the global market includes the following segments: