The safety light curtain market is expected to grow from USD 1.1 billion by 2019 to USD 1.6 billion by 2025 at a CAGR of 6.5% from 2019 to 2025
NEW YORK, Jan. 22, 2020 /PRNewswire/ --
Safety light curtain market to grow at a CAGR of 6.5% from 2019 to 2025
The safety light curtain market is expected to grow from USD 1.1 billion by 2019 to USD 1.6 billion by 2025 at a CAGR of 6.5% from 2019 to 2025. A few key factors driving the growth of this market include the rise in Industry 4.0; the growing use of robotics in the packaging industry; and mandatory safety regulations across industries.
Read the full report: https://www.reportlinker.com/p05219037/?utm_source=PRN
Safety light curtain market for type 4 safety level to hold larger share during the forecast period
The safety light curtain market for type 4 curtains is expected to hold a larger share during the forecast period.These safety light curtains are based on redundant automatic cross-checking architecture, which allows immediate failure detection with low response time.
The prevalence of Industrial Revolution 4.0 and rapid industrialization in developing countries such as China, India, and Mexico, contribute to the large share of this segment.
Control units segment of safety light curtains to witness highest CAGR during forecast period
The safety light curtain market for control units is expected to grow at the highest CAGR during the forecast period.A control unit controls all activities of a safety light curtain and ensures the proper operation of equipment.
It is one of the major components of a safety light curtain and is used to determine the sequence and modulation of LEDs to match them with those of photoelectric cells. It can also detect deviations caused in the system in the event of an object entering the curtain of light beams.
Healthcare industry to witness highest CAGR in safety light curtain market during forecast period
The safety light curtain market for the healthcare industry is expected to grow at the highest CAGR during the forecast period.Growth in the healthcare industry in APAC is supporting the growth of the safety light curtain market.
The comparatively cheap labor available in APAC, compared to Europe or North America, is one of the major drivers for pharmaceutical companies investing in this region to set up production plants. These factors are contributing to the growth of the safety light curtain market for the healthcare industry.
APAC to account for largest size of safety light curtain market during forecast period
APAC is expected to hold the largest size of the safety light curtain market during the forecast period.The region has been a major contributor to the growth of the overall safety light curtain market as this region is emerging as an important hub for automotive manufacturing.
Automotive is one of the prominent industries in APAC, owing to the presence of global automotive giants and the increasing demand for automobiles by an ever-growing population with high disposable income in this region.
Breakdown of the profile of primary participants:
• By Company Type: Tier 1 – 31%, Tier 2 – 37%, and Tier 3 – 32%
• By Designation: C-Level Executives – 45%, Directors – 36%, Others - 19%
• By Region: Americas – 32%, Europe – 30%, APAC – 24%, and RoW – 14%
Keyence Corporation (Japan), Omron Corporation (Japan), Rockwell Automation, Inc. (US), SICK AG (Germany), Pepperl+Fuchs (Germany), Banner Engineering (US), Panasonic Corporation (Japan), Schneider Electric (France), Datalogic S.p.A. (Italy), Leuze Electronic (Germany), and Pilz GmbH & Co. KG (Germany) are among a few major players in the safety light curtain market.
Research Coverage
The safety light curtain market has been segmented by safety level type, component, resolution, application, industry, and region.Based on safety level type, the market has been segmented into type 2 and type 4.
Based on component, the market has been segmented into LEDs, photoelectric cells, control units, displays, and others (enclosures and mirrors).Based on resolution, the market has been segmented into 9–24mm, 25–90mm, and more than 90mm.
Based on application, the market has been segmented into packaging, assembly, material handling, robotics, and others (presses, positioning, and metal working applications).The safety light curtain market study has been segmented on the basis of industry into automotive, semiconductor & electronics, food & beverages, healthcare, and others (wood, chemicals, financial institutions, and art).
Based on region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons to Buy Report
The report would help market leaders/new entrants in the following ways:
• This report segments the safety light curtain market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different offerings, product types, applications, and regions.
• The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystems, product launches and developments, acquisitions, and partnerships in the safety light curtain market.
Read the full report: https://www.reportlinker.com/p05219037/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article