Safety Programmable Controllers Market by Type and Geography - Forecast and Analysis 2022-2026

The safety programmable controllers market share is expected to increase to USD 2.43 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.66%.

This safety programmable controllers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The safety programmable controllers market report also offers information on several market vendors, including ABB Ltd., ASTRE Engineering, B and R Industrial Automation GmbH, Beckhoff Automation GmbH and Co. KG, Eltime Controls, IDEC Corp., Ingenious Power and Control Systems Pvt. Ltd., Keyence Corp., Leuze electronic GmbH + Co. KG, Panasonic Corp., Pilz GmbH and Co. KG, Rockwell Automation Inc., SICK AG, Siemens AG, Treotham Automation Pty. Ltd., Yacoub Automation GmbH, JTEKT Corp., OMRON Corporation, Mitsubishi Electric Corp., and Schneider Electric SE among others. Furthermore, this report extensively covers safety programmable controllers market segmentation by type (modular and compact) and geography (APAC, North America, Europe, Middle East and Africa, and South America).

What will the Safety Programmable Controllers Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global safety programmable controllers market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the safety programmable controllers market during the forecast period.

Who are the Major Safety Programmable Controllers Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• ASTRE Engineering
• B and R Industrial Automation GmbH
• Beckhoff Automation GmbH and Co. KG
• Eltime Controls
• IDEC Corp.
• Ingenious Power and Control Systems Pvt. Ltd.
• Keyence Corp.
• Leuze electronic GmbH + Co. KG
• Panasonic Corp.
• Pilz GmbH and Co. KG
• Rockwell Automation Inc.
• SICK AG
• Siemens AG
• Treotham Automation Pty. Ltd.
• Yacoub Automation GmbH
• JTEKT Corp.
• OMRON Corporation
• Mitsubishi Electric Corp.
• Schneider Electric SE

 

This statistical study of the safety programmable controllers market encompasses successful business strategies deployed by the key vendors. The safety programmable controllers market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.

Product Insights and News

• ABB Ltd. - The company offers Safety Programmable Controllers such as AC500 and AC500-XC scalable PLC ranges. 
• ABB Ltd. Through the electrification segment, the company offers electrification and building management solutions, products, and services for utilities, industry, transport, and infrastructure. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The safety programmable controllers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Safety Programmable Controllers Market: Key Drivers, Trends, and Challenges

The rapid globalization of industries is notably driving the safety programmable controllers market growth, although factors such as shortage of skilled labor to maintain and operate automation systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the safety programmable controllers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Safety Programmable Controllers Market Driver

One of the key factors driving the global safety programmable controllers market growth is the rapid globalization of industries. Several companies based in developed economies such as the US and Western Europe are shifting their focus toward emerging economies to save production costs. Key differentiators such as low-cost labor and low procurement costs for raw materials are encouraging companies to shift their base toward emerging economies such as China, India, Indonesia, and Brazil. In addition, the rapid growth of various industries, including oil and gas, automotive, chemicals, and food and beverage, in emerging economies such as India and Indonesia are attracting developed economies to invest in these countries. The development of industrial infrastructure requires advanced technologies and machinery for smooth functioning. Hence, the adoption of safety programmable controllers in these industries is expected to increase, which will, in turn, support market growth during the forecast period.

Key Safety Programmable Controllers Market Trend

Growing investments in smart factories is one of the key safety programmable controllers market trends that is expected to impact the industry positively in the forecast period. By capturing real-time information and enabling the remote control of machinery, the IoT can increase efficiency and enhance the value provided by manufacturers to customers. Manufacturers are adopting smart factories to improve the efficiency and productivity of factories, enhance personnel and machinery safety, and enable their operation with innovative technologies. For instance, in January 2019, Altizon Systems announced a partnership with AXISCADES to help customers from the aerospace, automotive, and heavy engineering industries build the factories of the future through their combined smart manufacturing and digital transformation offerings. The need to efficiently connect devices or machines to maintain safety within various industrial processes is expected to drive the growth of the market in the coming years.

Key Safety Programmable Controllers Market Challenge

One of the key challenges to the global safety programmable controllers industry growth is the shortage of skilled labor to maintain and operate automation systems. It is essential for safety system operators to have the knowledge as well as the technical ability to work on these systems. While there are automation experts and people with end-user experience, the pool of people with these skills is declining. Multinational automation manufacturers are addressing this issue by providing training to operators who can cater specifically to end-user requirements. They also tie-up with universities and offer training courses. The shortage of safety controller specialists necessitates a creative development team with end-users, suppliers, and specialty safety engineering companies. Thus, the shortage of skilled labor is expected to limit the market growth during the forecast period.

This safety programmable controllers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Which are the Key Regions for Safety Programmable Controllers Market?

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31% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for safety programmable controllers in APAC. Market growth in this region will be faster than the growth of the market in North America, Europe, and MEA.

Rapid industrialization, rise in demand for medium-voltage and low-voltage motors, and an increase in investments in the oil and gas, power, water and wastewater treatment, automotive, and food and beverage industries will facilitate the safety programmable controllers market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the safety programmable controllers market in APAC faced certain challenges due to the outbreak of COVID-19. The regional market is anticipated to grow during the forecast period, primarily due to large-scale vaccination drives, the gradual decline in the number of COVID-19 cases, and the resumption of normal business operations across industries. 

Safety Programmable Controllers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the safety programmable controllers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Type Segments in the Safety Programmable Controllers Market?

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The safety programmable controllers market share growth by the modular segment will be significant during the forecast period. The significant increase in the adoption of modular safety programmable controllers by various end-users is anticipated to drive the growth of the segment in focus in the coming years. Modular safety programmable controllers also provide flexibility to add more than one system, which makes the module multi-functional. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the safety programmable controllers market size and actionable market insights on post COVID-19 impact on each segment.

 

Safety Programmable Controllers Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.66%
Market growth 2022-2026	$ 2.43 billion
Market structure	Fragmented
YoY growth (%)	5.91
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 31%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., ASTRE Engineering, B and R Industrial Automation GmbH, Beckhoff Automation GmbH and Co. KG, Eltime Controls, IDEC Corp., Ingenious Power and Control Systems Pvt. Ltd., Keyence Corp., Leuze electronic GmbH + Co. KG, Panasonic Corp., Pilz GmbH and Co. KG, Rockwell Automation Inc., SICK AG, Siemens AG, Treotham Automation Pty. Ltd., Yacoub Automation GmbH, JTEKT Corp., OMRON Corporation, Mitsubishi Electric Corp., and Schneider Electric SE
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Safety Programmable Controllers Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive safety programmable controllers market growth during the next five years
• Precise estimation of the safety programmable controllers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the safety programmable controllers industry across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of safety programmable controllers market vendors

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