Global Safety Connection Devices Market - Segmented by Type (Cables & Cords, Connectors, Gateways, Adaptors, Relays, T-couplers, Distribution Box), End-user Application (Automotive, Manufacturing, Healthcare, Energy & Power), and Region- Growth, Trends, and Forecast (2018 - 2023)
The global safety connection devices market is expected to register a CAGR of 7.23%, during the forecast period of 2018-2023. The scope of the report is limited to the type of safety connection devices, such as cables & cords, connectors, gateways, adaptors, relays, t-couplers, distribution box among others, and end-user applications, such as automotive, manufacturing, healthcare, energy & power among others. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, and Rest of the World.
The Safety Connection Devices provide reliable and flexible connections between the e-stops; safety interlock switches, safety relays, and cable pull switches. These devices improve the communication between different machineries, while helping to increase personal safety. These devices also ensure safe transmission, and processing of safety-relevant analog & digital data.
The Gateways can be easily installed and commissioned, and offer benefits, such as duplicate address detection, ground protection, and monitoring. The relays are powerful and suitable for common types of safety applications. They can be used in various applications, such as monitoring devices - emergency stop buttons, door switches, and light guards among others, and controlling the output of machinery.
Increasing Demand of Safety Connection Devices in Automotive Industry
The automotive industry is one of the fastest growing consumers of safety connection devices. With growing demand for automobiles across the world, companies are pushing towards automated systems, to increase productivity of the existing plants. Many automotive manufacturers are either establishing new manufacturing infrastructures across the world or moving the processes of automotive manufacturing from manual labor to robotic machinery. Thus, with the increase in number of industrial robots & automation, there is a need for interfacing these systems with centralized controllers. The automotive industry is thus deploying safety connection devices, so as to make controllers, and other devices communicate with each other. The automotive industry is experiencing paradigm shift with increasing integration of technology. The autonomous car technology is rapidly advancing with companies investing heavily in this technology. The demand for electric cars is also growing, with companies introducing affordable electric vehicles. This is expected to result in higher demand for automobiles, pushing companies to up their manufacturing capabilities, and establish plants in local markets. Thus, the demand for machinery is expected to grow in the coming years. As safety connection devices offering increased reliability and safety without compromising on the operational efficiency, the industry is moving to safety connection devices. Thus, the automotive industry is expected to be the fastest growing market for safety connection devices during the forecast period.
Increasing Automation Driving the Growth of Safety Connection Devices
Automation is the use of information technology and control systems (computers and set of devices) by replacing the human operator to control and regulate processes, robots, industrial machinery, and building environment. Demand for automation will continue to grow due to the increased requirements of high product quality, paired with expectations of equally high reliability in high volume production. With automation increasing in every industry, the demand for devices to communicate data safely & securely is also increasing. These Devices provide reliable and flexible connections between the E-stops, safety interlock switches, safety relays, and cable pull switches among others. Also, the data, so produced, needs to be analyzed in a secure environment, which is provided by safety connection devices. Safety Connection Devices would now be used, more than ever, to aid automation and increase reliability, and efficiency, while producing quality products. These devices can be easily installed and commissioned, and offer benefits, such as duplicate address detection, ground protection, and monitoring.
Key Developments in the market
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