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Safety Light Curtain Market is calculated to reach USD 1,493 million in 2029, growing at 5.4% CAGR during 2022-2029 | Size & Analysis Report
Safety Light Curtain Market
Safety Light Curtain Market was valued to be USD 980 million in 2021 and is projected to touch USD 1,493 million in 2029, growing at a CAGR of 5.4% during the forecast period from 2022-2029
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/safety-light-curtain-market/
The factors driving the growth of Safety Light Curtain Market includes strict workplace safety regulations imposed by Governments, increasing application of safety light curtain in end-use industries such as automotive, healthcare and semiconductor & electronics, growing demand for processed food and beverages and rise in the number of smart factories around the world. As per the data available at Statista, the Global Smart Factory Market was calculated around USD 153.7 billion in 2019 and is expected to reach USD 244.8 billion by the end of 2024, growing at a CAGR of 9.6% over the forecast period (2019-2024), which will accelerate the market growth in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Robotics in the Automotive industry, increasing number of industrial accidents and rapid urbanization, are some of the additional factors supplementing the Safety Light Curtain Market size. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative products, strategic partnerships between major companies and growing population growth rates, are further contributing towards the market growth.
However, growth of the Safety Light Curtain Market is hindered due to insufficient knowledge about the benefits of safety light curtains amongst Small and Medium Enterprises.
The major players operating in the market are Schneider Electric SE, Datalogic S.p.A., Pepperl+Fuchs, Keyence Corporation, Omron Corporation, Rockwell Automation, Inc., Wenglor sensoric GmbH, Banner Engineering Corp., KG, Sick AG, Panasonic Corporation, Leuze Electronic, Pilz GmbH & Co. KG and Smartscan, among others.
Based on Application, the Robotics segment is predicted to grow at a significant CAGR during the forecast period
Increasing application of robots in the manufacturing sector and technological advancements in robots, are propelling segment's growth.
Based on Industry, the Healthcare segment is projected to grow at a robust CAGR over the forecast period
Increasing use of safety light curtain solutions in the healthcare industry to protect workers near moving machinery, is pushing growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
As per the Safety Light Curtain Market Report, rise in the construction of smart factories, growing demand for processed food and beverages, rapid industrialization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In Jun 2019, Omron Corporation introduced its new F3SG-SR/PG Series portfolio of 164 safety light curtains.
In Aug 2018, Rockwell Automation introduced Allen-Bradley GuardShield 450L safety light curtain system to isolate robotic work cells from the rest of the plant with transceiver technology. The incorporation of laser alignment system (ILAS) in this product has minimized the installation time and provides flexibility, cost-effectiveness, and improved productivity through innovative transceiver technology.
Market Segmentation
Segmentation by Safety Level Type
Type 2
Type 4
Segmentation by Detection Type
Fingers Detection
Hand Detection
Full Body Detection
Segmentation by Component
Light Emitting Diodes (LEDs)
Photoelectric Cells
Control Units
Display Units
Others
Segmentation by Resolution
9mm-24mm
25-90mm
More Than 90mm
Segmentation by Application
Packaging
Material Handling
Robotics
Assembly
Others
Segmentation by Industry
Automotive
Semiconductor & Electronics
Food & Beverages
Healthcare
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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