ALBANY, New York, January 3, 2019
ALBANY, New York, January 3, 2019 /PRNewswire/ --
A growing number of providers of safety light curtains devices and developers of industrial automation technologies are aiming at developing solutions for fourth industrial revolution, Industry 4.0., notes Transparency Market Research (TMR). Several of these players in the light curtains devices market are actively engaged in offering a wide variety of safety applications for the manufacturing industry. Numerous providers are introducing new technologies in photo-electric sensors for Industry 4.0 applications to acquire and retain consumers in the global safety light curtains devices market. TMR observes that top players are also committing sizeable investments on research and development initiatives in order to consolidate their footprints in the market.
Some of the key players operating in the global safety light curtains market are Pepperl+Fuchs GmbH, Keyence Corporation, Sick AG, Rockwell Automation, Safety Light Curtains Market, and OMRON Corporation.
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The global safety light curtains market stood at US$1.50 billion in 2016 and is estimated to reach a worth of US$3.5 billion by the end of 2026. TMR forecast the global market to expand at CAGR of more than 8.75% during 2018-2026.
Among the various end-use industries, the manufacturing industry is expected to account for substantial share of revenues of the global safety light curtains market over the assessment period. One of the trends that pivot its uptake in the industry is the rising use of safety light curtains technologies in automotive manufacturing.
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Among the key types, type 4 safety light curtains is anticipated to rise at higher growth rate year-over-year during 2018-2026. The high attractiveness to the end-use industries is attributed to robust protection features, notably shorter response times.
Rising Adoption in Manufacturing Industries to prevent Workplace Accidents underpins Growing Revenues
Rising number of factory and workplace accidents, especially in less developed regions, is propelling the demand for various safety solutions to protect personnel from injuries. This is a key factor driving the global safety light curtains market. The rising adoption of safety light curtains solutions in the manufacturing industries to promote fourth industrial revolution is imparting robust boost to the global market. Rising mortality rate due to occupational hazards in various developing countries is bolstering the demand for safety light curtains technologies. The adoption of these in the manufacturing industries has also helped end users to protect machine from damage.
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The rising demand for safety light curtains technologies for ensuring full-body access detection is also fueling the market. Several manufacturing industries in parts of Europe and Asia Pacific are reinforcing Industry 4.0. As a result, the demand for cost-effective light curtain safety solutions have started picking up pace in the manufacturing sector world over. A great deal of demand will come from the rising adoption of safety light curtains in horizontal markets such as the semiconductor and electronics, and automotive industries.
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Demand for Intuitive Safety Light Curtains to gather Traction in Coming Years
Over the past few years, intuitive safety light curtains have been gathering traction among end-use industries, such as food and beverages, packaging, healthcare, and manufacturing. This is likely to create promising avenues to manufacturers of safety light curtains devices. Moreover, rapid strides being made Industry 4.0. in various parts of the world have been offering an increasing momentum to the expansion of the global safety light curtains market
The study presented here is based on a report by Transparency Market Research (TMR) titled "Safety Light Curtains Market (Type - Type 2 and Type 4; Resolution - <40 mm, >40 mm; End-use Industry - Manufacturing, Food and Beverages, Healthcare, and Packaging) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026".
Global Safety Light Curtains Market is segmented based on:
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