MARKET OVERVIEW CONTINUED
Renewable energy
Transportation
Electrification is accelerating the build-out of wind, solar and other renewables, alongside grid-scale battery storage to balance intermittent generation; the IEA estimates half of the world’s electricity will come from renewables and nuclear by 2030 1 . Meanwhile, utilities are upgrading transmission and distribution networks to connect new generation and growing electrified loads, improve resilience, and add digital monitoring and control. This increases demand for high-efficiency power electronics, sensing and protection across inverters, converters, substations and balance-of-plant equipment.
Electrification is accelerating across commercial mobility, from depot and on-site EV charging to e-buses and e-trucks, whilst electric ships and port shore-power infrastructure are scaling to reduce emissions in coastal and short-sea routes. Urbanisation is reinforcing this shift by increasing demand for efficient mass transit and cleaner cities, accelerating investment in electrified public transport and supporting infrastructure. Established rail networks continue to electrify, and around three-quarters of passenger rail activity already takes place on electric trains. Together, these trends increase demand for rugged power conversion and distribution, traction and auxiliary power systems, high-current interconnect, and safety-critical sensing, controls and connectivity across vehicles, chargers and port/wayside infrastructure. Key statistics: ■ 7.6% CAGR growth in public transportation market 2024–2030 3 ■ 68% of the world’s population will live in urban areas by 2050 4
Key statistics: ■ Half of the world’s electricity expected to come from renewables and nuclear by 2030 1 ■ Renewable generation forecasted to rise at an annual rate of 8% per year through to 2030 2
Industrial
Connectivity
1 International Energy Agency: Electricity 2026 Report; February 2026 (https://www.iea.org/reports/electricity-2026) 2 International Energy Agency: Electricity 2026 Report; February 2026 (https://www.iea.org/reports/electricity-2026) 3 Grand View Research: Global public transportation market (www.grandviewresearch.com/horizon/outlook/public-transportation-market- size/global) 4 The United Nations: https://www.un.org/uk/desa/68-world-population- projected-live-urban-areas-2050-says-un 5 Grand View Research: Smart medical devices market (www.grandviewresearch.com/industry-analysis/smart-medical-devices-market) 6 Fortune Business Insights: Public safety and security market (https://www. fortunebusinessinsights.com/public-safety-and-security-market-106177) Electrification and digitalisation are reshaping industries as businesses electrify equipment and deploy automation to improve efficiency, quality and uptime. AI and the Industrial Internet of Things (“IIoT”) are digitising factories through connected machines, sensors and software-driven control. The Industry 4.0 market is forecast to grow at around 16.3% CAGR (2026–2034) (Fortune Business Insights), driven by automation, analytics and connected operations. This drives demand for industrial sensors (temperature/pressure/position), signal conditioning and high-resolution analogue-to-digital converters (“ADCs”), embedded controllers, industrial Ethernet/fieldbus transceivers, isolated power and gate drivers, and rugged power conversion. Key statistics: ■ Industry 4.0 market forecasted to grow at around 16.3% CAGR in 2026–2034 8 ■ Industrial electrification market expected to grow at a 7.9% CAGR in 2026–2030 9
Digitalisation depends on resilient, high-bandwidth networks (fibre, 5G and private wireless) and the cloud/data centre infrastructure that processes and stores data. Advancement and commercialisation of space technologies drive growth in Low Earth Orbit (“LEO”) satellite constellations, which is extending high-speed, low-latency connectivity to harder-to-serve locations. This drives demand for RF and power components including antennas and RF front-end modules, high-reliability high-speed connectors/cable assemblies, magnetics, EMC/EMI filtering, thermal solutions, and high-efficiency power supplies and protection.
Security
Medical
Digitalisation is enabling more care outside hospitals via remote patient monitoring and remote diagnostics, whilst immersive and robotic-assisted surgery is improving precision and outcomes. The smart medical devices market is projected to grow at 12.8% CAGR from 2025 to 2030 (Grand View Research), supported by ageing populations that are increasing overall healthcare demand and adding pressure on clinical capacity. These applications require medical-grade, miniaturised electronics, including precision sensors, low-noise analogue front ends, microcontrollers, wireless modules, isolation/protection and high-reliability power management.
As cities grow, the risk and impact of disruption to people and critical infrastructure increases. This is accelerating deployment of surveillance, access control and threat detection with more processing at the edge for faster response. Increasing geopolitical uncertainties also drives defence modernisation. All of these propel demand for imaging and environmental sensors, embedded computers, secure connectivity, rugged interconnect/enclosures, and robust power management and protection.
Key statistics: ■ Over $45 billion was invested in the space sector in 2025, up 80% year-on-year 10 ■ 70,000 LEO satellites expected to be launched in the next five years 11
7 European Council (https://www.consilium.europa.eu/en/policies/defence- numbers/) 8 Fortune Business Insights: Industry 4.0 market (https://www.fortunebusinessinsights.com/industry-4-0-market-102375) 9 Research and Markets: Industrial electrification market report 2026 (https://www.researchandmarkets.com/reports/6231302/industrial- electrification-market-report?srsltid=AfmBOoo-hliNoFeza9EtGRUClqOBau2z r1NoF1psGlZPF609D3_nFmq_) 10 Space Capital: Space IQ space investment quarterly (https://spacecapital.docsend.com/view/q77fv4weiw4qp4vu) 11 Goldman Sachs: The global satellite market is forecast to become seven times bigger, March 2025 (https://www.goldmansachs.com/insights/articles/the- global-satellite-market-is-forecast-to-become-seven-times-bigger)
Key statistics: ■ 12.8% CAGR growth in smart medical devices market 2025–2030 5
Key statistics: ■ The global public safety and security market projected to grow at a 8.2% CAGR in 2025–2034 6 ■ EU spending on defence equipment rose by 39% in 2024 and projected to exceed €100 billion in 2025 7
22
23
discoverIE Group plc Innovative Electronics
Annual Report and Accounts for the year ended 31 March 2026
Made with FlippingBook - professional solution for displaying marketing and sales documents online