Market Research Report
Industrial Safety Sensors
|Published by||Global Industry Analysts, Inc.||Product code||940979|
|Published||Content info||180 Pages
Delivery time: 1-2 business days
|Industrial Safety Sensors|
|Published: July 1, 2020||Content info: 180 Pages||
Declines in Industrial Production Pose Challenges to Growth. Global Market to Reach US$544Million by 2027
The global market for Industrial Safety Sensors is projected to reach a revised size of US$544million by the year 2027, trailing a CAGR of 3.0% over the analysis period 2020 to 2027. Lockdowns imposed to curb the spread of COVID-19 has significantly impacted industrial output. With manufacturing plants shut down, industrial production has suffered steep declines in countries all over the world. Although economies are beginning to reopen, the full blown global recession will make the recovery harder and longer. The revenue losses suffered by most companies will disrupt planned plant related investments for the financial year2020.As a result, demand for industrial safety sensors will witness a temporary dip in demand and sales in the year 2020.
In the post COVID-19 period, the market will regain growth momentum and will move from conventional film-based systems to the innovative and highly advanced digital systems. Demand will benefits from renewed emphasis on workplace safety and progressive developments across various technological aspects. Safety sensors present a compelling solution for industrial settings to ensure worker safety that may be compromised due to various factors like high-risk movements of an equipment or machine. Safety sensors are basically intended to mitigate risks and hazards related to equipment and machinery, and are commonly used with safety control units and active photoelectric protective devices like safety light grids and safety thru-beam sensors to detect unauthorized access and if a worker reaches into the danger zone. These devices play an important role in preventing workers from crushing, shearing and impact injuries caused by negligence or distraction. These devices enjoy broader adoption due to increasing focus on personnel protection in automated industrial processes. Safety sensors are designed to protect workforce and equipment, and are suitable for diverse applications. These devices work on various principles including inductive to safety detect end-of-travel and position of metallic objects without any contact along with magnetic or REED and electromechanical or RFID-based for position or access verification to protect machine and worker. Magnetic/REED switches are suitable for wear-free access protection at desirable guard doors. These devices can be paired with a suitable spacing element for deployment in ferromagnetic environments.