Global Safety Drives Market 2017-2021 - Emerging Need for Hybrid Safety Drives & Integration of IoT

Global Safety Drives Market 2017-2021 - Emerging Need for Hybrid Safety Drives & Integration of IoT

PR Newswire

DUBLIN, September 11, 2017

DUBLIN, September 11, 2017 /PRNewswire/ --

The "Global Safety Drives Market 2017-2021" report has been added to Research and Markets' offering.

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The global safety drives market to grow at a CAGR of 6.76% during the period 2017-2021.

Global Safety Drives Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers new installations, sales value, and services market.

According to the report, one driver in the market is cost-effectiveness and flexibility of safety drives. Safety drives are cost-effective as the investment is made on a single device rather than a suite of independent devices for the same function. Safety-integrated drives perform functions related to safety as well as control, whereas traditional drives additionally required two separate devices for both the functions. Also, safety-integrated drives are costlier than traditional drives. This is because traditional drives are not as efficient as safety drives and the ROI on safety drives is comparatively low.

One trend in the market is emerging need for hybrid safety drives. Hybrid safety drives advanced safety drives with diverse functionalities. The drives are designed differently; instead of using lamination, they use amorphous powder metals, which are flexible in adapting to any magnetic circuit for diverse industrial applications in process and discrete industries.

Further, the report states that one challenge in the market is higher need for preventive maintenance for safety drives. Safety drives need timely maintenance, which increases the cost. There are a lot of installation-related safety instructions that need to be taken into consideration. The wiring of the drives needs to be done carefully as any wrong wire attachment can lead to irreparable damage. The components used in safety drives need regular inspections and require service on a yearly basis. Although this reduces systems breakdown, predictive maintenance is required so that the safety drives function appropriately.

Key vendors

Other prominent vendors

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by end-user

PART 07: Geographical segmentation

PART 08: Decision framework

PART 09: Drivers and challenges

PART 10: Market trends

PART 11: Vendor landscape

PART 12: Key vendor analysis

PART 13: Appendix

For more information about this report visit

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