The report forecasts the global industrial safety integrated components market to grow at a CAGR of 4.93% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global industrial safety integrated components market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of industrial safety integrated components that include installation and integration to the below-mentioned process industries.
- Oil and gas
- Chemical and petrochemical
- Food and beverages
The need for smart industries, such as automated industries, has increased worldwide, and is likely to grow significantly during the forecast period. Manufacturing-based countries that include China and Germany have started to automate their existing factories to stay ahead of the competition. The growing concept of smart industries will accommodate automation and safety integrated components such as safety switches and relay.
According to the report, the smart grid investment worldwide was estimated to reach around $200 billion by 2015. Rapid development of smart grids has increased the growth of several technologies that include smart meters, digital relays, safety switches, and PLCs. Smart grids consist of various smart grid applications such as smart meters, SCADA systems, and IT networks that hold a sizeable market share in the smart grid market, which is growing rapidly.
Further, the report states that fluctuating prices of raw materials have become a major concern for vendors as it hampers their business plans while forecasting demand, developing and executing manufacturing plans, and managing inventory.
- Rockwell Automation
- Schneider Electric
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by products
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
For more information visit http://www.researchandmarkets.com/research/lwjp3x/global_industrial
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-industrial-safety-integrated-components-market-2016-2020---growing-demand-for-smart-industries----research-and-markets-300293596.html
SOURCE Research and Markets