Global Safety Sensors Market to Reflect Impressive Growth of 4.28% | Top Key Players (OMRON, ALLEN-BRADLEY, KEYENCE, ABB LIMITED, SIEMENS, PEPPERL+FUCHS, and VICKERS-WARNICK)

The safety sensors market was valued at USD 4.7 billion in 2017 and is projected to reach USD 5.9 billion by the end of 2023, growing at a CAGR of 4.28% over the forecast period (2018-2023). The scope of the report is limited to the type of sensors and their uses in various industries. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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Workplace safety and occupational health are of utmost concern for industries. Industries with complex and hazardous working requirements such as chemical, construction, manufacturing, and mining have a higher incidence of industrial accidents than other industries.
Safety sensors play a vital role in ensuring workplace safety of employees across industry verticals. They act as bridge between human and machine interaction to provide useful, precise, and timely indications to avoid accidents. Stringent safety regulations by government and increasing automation are key drivers for the growth of the safety sensors market.

Key Developments in the Market
December 2017 - Rockwell Automation introduced metal, flat-pack industrial sensors- 871FM. These sensors deliver more comprehensive diagnostic and parameter data to the controller over EtherNet/IP from the IO-Link master module.
May 2017 - Siemens expanded its ultrasonic level transmitter portfolio by adding the non-contacting transmitter Sitrans LU180. Sitrans LU180 incorporates the sensor and the electronics in a single compact unit and is suitable for continuous level measurement of liquids and slurries in open or closed vessels.

The major players include –
OMRON CORPORATION, ALLEN-BRADLEY, KEYENCE CORPORATION, ABB LIMITED, SIEMENS, PEPPERL+FUCHS, and VICKERS-WARNICK CORPORATION, amongst others.

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Emergence of MEMS Technology
The emergence of micro-electro mechanical systems (MEMS) technology resulted in miniaturization of mechanical and electro-mechanical elements in the field of sensors and semiconductors with micro-fabrication and micro-machining techniques. MEMS have now become an undisputable part of the future navigation systems. The growth in this technology has been driven by the growing pressure on contract manufacturers to reduce the size of inertial systems to make it suitable for wider applications. MEMS-based accelerometers are reducing the complexity and overall size of the system. This technology is expected to further drive the next wave of innovation in the inertial systems.

Increased Demand from Mining Sector
Safety sensors are widely used in the mining sector and are deployed for surveying static holes to determine the feasibility of deep drilling. These sensors are designed to withstand a wide range of temperatures since they are used in tilt and guidance systems, for determining the presence of deformed areas in existing sites. A wide range of products cater to inertial, seismic, tilt and vibration monitoring applications. These devices are designed to offer high shock resistance and high stability, for smooth functioning in harsh environments.
Though the global outlook for mining sector remains largely mixed owing to fluctuations in metal & oil prices, this market is poised to grow rapidly, owing to the increased construction in developing countries.

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This release was published on openPR.