The Key Players in Global Industrial Safety Integrated Components Market 2016-2020

Thursday 31 March 2016, Amsterdam

The report, now available on ASDReports, recognizes the following companies as the key players in the Global Industrial Safety Integrated Components Market: ABB, Rockwell Automation, Schneider Electric, and Siemens.

Other Prominent Vendors in the market are: Beckhoff, Bosch Rexroth, GE, Hitachi, Honeywell International, IDEC, Itron, KEYENCE, KOYO ELECTRONICS, and Littelfuse.

Commenting on the report, an analyst said: “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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.