Global Industrial Timer Market 2017-2021

Overview of the global industrial timer market

Research analysis on the global industrial timer market identifies that availability of low-cost industrial timers will be one of the major factors that will have a positive impact on the growth of the market. The reduction in the industrial timers cost has led to the increase in their adoption among end-users. Low-cost industrial timers are also used in safety devices and can handle high temperatures and strong vibrations from machines on the factory floor. Additionally, these timers also come with various features such as LCD and LED and programmable modes and wide time ranges will fuel the market's growth. Technavio's market research analysts predict that this market will grow at a CAGR of more than 4% by 2021.

In terms of geographic regions, APAC accounts for the highest revenue due to the presence of major industrial timer manufacturers. The region witnesses considerable growth in the industrial automation for process operations. The increased demand for industrial timers from small and medium scale enterprises (SMEs) in various parts of the region will drive the growth of the industrial timers market. Additionally, the increase in investments, the rise in automation, and the integration of IoT in the end-user industries in the developing countries, will also propel the market's growth in this region.

Competitive landscape and key vendors

Characteried by the presence of  several large and small-scale vendors, this market appears to be highly fragmented and competitive. The vendors in the market are competing based on factors such as product features, product types, price, and customized solutions. The industrial timer manufacturers are mking huge R&D investments to develop advanced industrial timers in association with PLCs and control systems.