Press release
ASEAN Safety Sensors and Switches Market Comprehensive Shares, Historical Trends And Forecast By 2028
ASEAN countries are among the fastest growing economies in the world and becoming the face of technological and digital transformations. Safety concerns among consumers as well as governing bodies with the implementation of automation technologies will continue to boost adoption of safety sensors and limit switches in the region. Moreover, stringent safety policies established by governing bodies will bolster the installation of new as well as retrofit safety sensors and switches in technologically connected spaces.Get | Download Sample Copy with Graphs & List of Figures:
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Structure Analysis
• The ASEAN safety sensors and switches market is a fragmented landscape, wherein, tier-1 companies hold around 30-40% revenue share.
• Some of the safety sensors and switches market players have also shown keen interest in expanding their geographical presence in emerging countries such as Vietnam and the Philippines.
• As a differentiating strategy, safety sensors and switches market participants are focusing on cost reduction and the development of new, more efficient, and more reliable safety sensors and switches.
• Key suppliers of safety sensors and switches are also focusing on retaining the existing customer base by considering parameters such as accuracy and operational life as key R&D areas.
• New product launches are also trending in ASEAN’s safety sensors and switches market. WIKA, in H2 of 2018, announced expansion of the product portfolio with the launch of a precision pressure sensor.
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Market Key Segment
By Category
• Basic Switches
• Limit Switches
• Pressure Sensors and Transducers
• Hall-Effect and Magneto resistive sensors
• Electro-magnetic relays
• Barcode Scan Engines
By Installation
• New
• Retrofit
By Country
• Malaysia
• Singapore
• Indonesia
• Thailand
• Vietnam
• Philippines
By End Use
• Industrial
o Automotive
o Power Generation
o Mining & Metal
o Food & Beverage
o Packaging
o Pharmaceutical
• Commercial
o Office
o Defence & Government Establishments
o Hotels & Hospitals
o Airports & Stations
o Others (Private/ Academic Institutes, Commercial Shopping Complexes)
o Residential
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The technology outburst in the manufacturing industry in ASEAN countries makes industrial sector a lucrative business segment for safety sensors and switch manufacturers. End-users in the manufacturing incorporating next-generation technologies, such as Industry 4.0, human-machine interface, robots, and sensor technologies, which is creating enormous sales potential for safety sensors and switches in the industrial.
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