Safety Sensors Market Growth by Global Key Players: Omron Corporation, Rockwell Automation, Keyence Corporation, Banner Engineering Corporation, ABB Limited

Safety Sensors Market Research Report provides a detailed evaluation of the business vertical in question, alongside a brief overview of the industry segments. An exceptionally workable estimation of the present industry scenario has been delivered in the study, and the Safety Sensors market size with regards to the revenue and volume have also been mentioned. In general, the research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position. This research report also provides post COVID-19 impact analysis of the Safety Sensors industry.

The safety sensors market was valued at USD 544.47 million in 2020 and is expected to reach a value of USD 660.24 million by 2026 at a CAGR of 3.24 %, over the forecast period (2021 - 2026). The increase in safety automation and boom of Industrial 4.0 will lead to safety sensor market.

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Top Leading Companies of Global Safety Sensors Market are Omron Corporation, Rockwell Automation, Keyence Corporation, Banner Engineering Corporation, ABB Limited, Siemens AG, Panasonic Electric Works Co., Ltd., SICK AG, Pepperl+Fuchs, Pilz GmbH & Co., Autonics Corporation, BEI Sensor, Hans Turck GmbH & Co. KG, Larco, Schneider Electric, Leuze electronic GmbH, Pinnacle Systems, Inc., Balluff GmbH, Contrinex

Market Research Analysis:

Automotive End User Hold a Significant Market Share

- The automotive industry is the fastest growing end-user segment for safety sensors. The increased usage of automation solutions and the production of autonomous vehicles are the key driving factors for growth in demand form this sector.

- Traditionally, safety sensors such as light curtains and safety mats are popular amongst the automakers for a long time now. But as the manufacturing establishments had evolved over time, there has been an increased demand for advanced safety sensors that take robotic solutions used in the assembly line into account.

- It is estimated that in the same year, the automobile industry consumed about 38% of the total supply of industrial robots. It is estimated the usage of new materials such as carbon fiber, increased production of electric cars and high competition in all major car markets will push the manufacturers for investments into industrial robots despite the existing overcapacities.

- Apart from increased automation, high rate of accidents in the manufacturing and servicing establishments of the automotive sector is another primary driver for the need for smart sensors in this sector.

Competitive Landscape

- January 2018 - Banner Engineering Corp. launched cost-effective safety light curtain for simple OEM Applications, EZ-Screen LS Basic. It consumes 30% less energy than the standard ones. Its low cost does not take a toll on its longevity, it has a 5mm recessed window protected by a 3mm thick Aluminum housing and metal caps.

- January 2018 - Siemens building technologies division introduced a dust sensor, which can be utilized in buildings, rounding out its product offering for a healthy indoor climate. The sensor can be used to monitor and visualize particle pollution and is easy to integrate into building management systems.

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KEY MARKET BENEFITS FOR STAKEHOLDERS

─The objective of report is to define, segment, and project the market on the basis of product type, application, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.

─This report provides an in-depth analysis of the global Safety Sensors market to identify the potential investment pockets.

─It outlines the current trends and future scenarios to determine the Safety Sensors market potential and gain stronger market foothold.

─Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.

─Quantitative analysis of the Safety Sensors industry from 2015 to 2025 is highlighted to recognize the financial competency of the market.

─Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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