Safety Sensors and Switches Market is anticipated to hit .47 billion by 2023
Posted by Lohitha on August 9th, 2019
According to the new market research report by IndustryARC titled “Safety Sensors and Switches Market: By Types (Thru Beam Sensors, Light Grid, Safety Light Curtains, Others) Safety Switches (Inductive Switches, Position Switches, Others) Command Devices (Enabling Switches, Push Buttons, Others) By Components, End Use Verticals & Applications – Forecast (2018-2023)", the market is driven by the increasing demand from end-user verticals, especially from manufacturing industries such as automotive, food and beverages, pharmaceutical, paper and pulp, chemical, aerospace and so on.
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Europe held the largest market share in the Safety Sensors and Switches Market
The European region holds the largest market share and growth in the Safety Sensors and Switches Market, and is anticipated to reach .45 billion by 2023 at a CAGR of 2.00%. However, APAC is estimated to register highest growth rate by reaching 9.3 million by 2023 at a CAGR of 5%. Europe’s major share in Safety Switches and Sensors Market is due to its dominance in automotive and automation sector. The most used safety sensors and switches in this region are safety light curtains, Anti-collision sensors, laser scanners and safety interlocks and safety PLC’s.
Selected Value Chain Analysis done in the full report:
The components such as Infrared sensors, proximity sensors, laser sensors, ultrasonic sensors and so on are provided to original equipment manufacturers (OEM) by component manufactures. The raw materials such as plastic, housings, electronic appliances and so on are provided to OEM by raw material manufacturers. The original equipment such as safety light curtains, safety laser scanners, safety mats, safety interlocks and so on are designed, produced and assembled using the raw materials and components.
Excerpts on Market Growth Factors:
The stringent safety requirements to protect labor in manufacturing industries works as one of the major driver that propels the market. Other factors include new product launches and the presence of considerable number of major manufacturers to meet the rising demand for safety systems
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Key players of Safety Sensors and Switches Market:
The key players of safety sensor are SICK AG, Pepperl + Fuchs, Rockwell Automation, ifm Electronic GmbH, Omron Corporation, Datalogic S.p.A., and Pilz GmbH & Co. KG.
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
Mr. Venkateshwar Reddy
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About the AuthorLohitha
Joined: August 6th, 2019
Articles Posted: 121
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