Safety IO Modules Market 2021: Global Industry Overview by Size, Share, Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2024

Posted on Aug 2 2021 9:48 AM

"Safety IO Modules Market Analysis 2021-2024 presents detailed competitive analysis including the market Share, Size, Future scope. This study categorizes the global Health and Safety Products breakdown data by manufacturers, region, type and applications, also analyzes the market drivers, opportunities and challenges. Safety IO Modules Market Report will add the analysis of the impact of COVID-19 on this industry."

Global "Safety IO Modules Market" (2021-2024) research provides an outline of the business with key insights, applications and the industrial chain structure. Additionally, it provides information of the worldwide market including advancement patterns, focused scene investigation, key locales and their improvement status. Advanced approaches and plans are examined just as assembling procedures and cost structures are dissected likewise. The report states import/trade utilities, market figures, cost, value, income and gross productivity of the market.

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List of TOP KEY PLAYERS in Safety IO Modules Market Report are -

         ●      ABB Ltd.
         ●      Siemens AG
         ●      Rockwell Automation Inc.
         ●      Schneider Electric
         ●      Parmley Graham Ltd.
         ●      Honeywell International Inc.
         ●      Advantech Co. Ltd.
         ●      Weidmuller Interface GmbH & Co. KG

"Final Report will add the analysis of the impact of COVID-19 on the In Memory Computing industry."

COVID-19 Impact on Market:

The recent COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms of positive cases and reported deaths, as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food and beverage industry is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the global manufacturing hub, with the presence of and the largest raw material suppliers. The overall market break down due to COVID-19 is also affecting the growth of the bacon market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

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Market Overview:

The safety IO modules market is expected to register a CAGR of 5.85% by 2024. The importance of safety IO devices rose from the terrible need for efficient and reliable infrastructure in hazardous environments. The IO devices are being used in the industry for optimizing the automation process. These modules also decrease the installation time and expense, as they are an integral part of the input/output control system, and hence, reduces the need for third-party relays and mapping equipment.

- The safety IO modules provide all the basic advantages that the traditional distributed IO safety systems provide. With the help of these new modules, one can control and monitor their safety devices.

- Moreover, one can also detect a failure at IO and field device levels, along with enhancing the operator protection. The growing technological advancements have improved the safety parameters associated with these IO modules, making their use in the hazardous zones even more feasible. This technological growth is bound to bring more improvements in the quality of safety in IO modules in the future.

- The increasing demand for safety IO modules is a direct consequence of the increase in the number of hazardous areas. Rising frequency of accidents in these hazardous areas has led to the establishment of industrial regulatory standards, which drove the demand for safety infrastructure in the market, thereby, steering the market growth.

- On the contrary, lack of awareness about the robust and reliable IO modules has been a challenge hindering the market growth in the recent past.

Scope of the Report:

The IO module is a mediator between the controller and an external device. It monitors information exchange between peripheral devices. IO module is also a device connecting a programmable logic controller to other devices, particularly field devices. Instead of an IO module, the Programmable Logic Controller (PLC) may have integrated input and output ports. These ports are typically connected to sensors and actuators.

Key Market Trends:

Increasing Demand of Safety IO Modules in Automotive Industry to Drive the Market Growth

- The automotive industry is experiencing a 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.

- As safety IO models offer increased reliability and safety without compromising on the operational efficiency, the industry is moving towards safety IO systems. Thus, the automotive industry is expected to be the fastest growing market for safety IO modules, during the forecast period.

- As safety IO models offer increased reliability and safety without compromising on the operational efficiency, the industry is moving towards safety IO systems. Thus, the automotive industry is expected to be the fastest growing market for safety IO modules, during the forecast period.

- With the growing demand for automobiles across the world, companies are pushing towards automated systems to increase the productivity of the existing plants.

- Many automotive manufacturers are either establishing new manufacturing infrastructure across the world or moving the processes in automotive manufacturing, from manual labor to robotic machinery. Thus, with the increase in the number of industrial robots and automation, there is a need for interfacing these systems with centralized controllers. The automotive industry is thus deploying IO modules, for monitoring, data collecting, and controlling these systems.

North America to Have the Largest Market Share

- The key factors contributing to the growth of the North America safety IO modules market are demand for intrinsically safe IO modules, compulsory industrial or government safety standards, miniaturization of devices, demand for reduced wiring cost and reduced start-up machine time.

- The United States is one of the top five countries that import the highest number of high-voltage protection equipment as well as low-voltage equipment, accounting for an import value of nearly USD 718 million (for high-voltage protection equipment) and a USD 9.26 billion (for low-voltage protection equipment).

- Besides, the United States has the largest and most technologically developed economy in the world, with a positive per capita GDP. Business firms in the United States enjoy a greater degree of flexibility compared to businesses in Japan and Western Europe in terms of innovation and expansion. Therefore, equipped with a high-tech industrial economy, the need for automation and safety in the industrial environment drive the market growth in the region.

Competitive Landscape:

The safety IO modules market is consolidated due to a few major players are having a huge share of the market. Some of the key players include ABB Ltd., Siemens AG, Rockwell Automation Inc., Schneider Electric, Honeywell International Inc., Advantech Co.Ltd.l, Parmley Graham Ltd., Weidmuller Interface GmbH & Co. KG, among others.

- January 2019 - Rockwell Automation, Inc. acquired Emulate3D, an innovative engineering software developer whose products digitally simulate and emulate industrial automation systems. By using accurate simulation models to improve systems planning and decision-making, followed by emulation trials that test the control system before installation, Emulate3D’s software enables customers to virtually test machine and system designs before incurring manufacturing and automation costs and committing to a final design.

Global Safety IO Modules Market Segmentation by Types, By Applications and by Region:

Global Safety IO Modules market is analyses and market size information is provided by regions (countries). Segment by Application, the Safety IO Modules market is segmented into United States, Europe, China, Japan, Southeast Asia, India and Rest of World. The report includes region-wise market size for the period 2021-2024. It also includes market size and forecast by players, by Type, and by Application segment in terms of sales and revenue for the period 2021-2024.

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Safety IO Modules Market Segment by Region:

         ●      North America [U.S., Canada, Mexico]
         ●      Europe [Germany, UK, France, Russia, Italy, Rest of Europe]
         ●      Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
         ●      South America [Brazil, Argentina, Rest of South America]
         ●      Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]

Reasons to Purchase this Report:

         ●      The report analyses how the stringent emission control norms will drive the global Safety IO Modules market.
         ●      Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
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         ●      Study on the regions that are expected to witness fastest growth during the forecast period.
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Major Points from Table of Contents:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Demand for Faster Start-up Machine Time
4.2.2 Reduced Hardware and Wiring Costs
4.2.3 Miniaturization and Variable Designs
4.3 Market Restraints
4.3.1 Complexity of Standards and Lack of Awareness
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Analog Modules
5.1.2 Digital Modules
5.1.3 Other Types
5.2 By Ratings
5.2.1 IP 20
5.2.2 IP 67
5.2.3 Other Ratings
5.3 By End-user Application
5.3.1 Automotive
5.3.2 Manufacturing
5.3.3 Healthcare
5.3.4 Energy and Power
5.3.5 Other End-user Applications
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Rest of Asia-Pacific
5.4.4 Rest of the World

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd.
6.1.2 Siemens AG
6.1.3 Rockwell Automation Inc.
6.1.4 Schneider Electric
6.1.5 Parmley Graham Ltd.
6.1.6 Honeywell International Inc.
6.1.7 Advantech Co. Ltd.
6.1.8 Weidmuller Interface GmbH & Co. KG

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

. . . Continued

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