Safety Programmable Controllers Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Safety programmable controllers, also known as safety PLCs (programmable logic controllers), are specialized devices designed to ensure the safe operation of machinery and industrial processes. They provide diagnostic capabilities, allowing operators to monitor the status of safety devices, troubleshoot issues, and perform preventive maintenance to ensure continued safety compliance.

Sizing and Forecast
The safety programmable controllers market size has grown strongly in recent years. It will grow from $5.20 billion in 2023 to $5.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to the increasing incidents of industrial accidents, increasing focus on risk management, focus on worker safety, industrial growth in emerging markets, increasing complexity of industrial processes.

The safety programmable controllers market size is expected to see strong growth in the next few years. It will grow to $6.77 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to the increasing adoption of automation systems, growing adoption of 5G network infrastructure, rising trend of industrial IoT (IoT), growing adoption of industry 4.0, high demand for PLCs form various end-use industries. Major trends in the forecast period include technological advancements, integration of safety features, focus on functional safety standards, industry 4.0 and IoT integration.

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Segmentation & Regional Insights
The safety programmable controllers market covered in this report is segmented –

1) By Type : Modular, Compact, Other Types
2) By Technology: Traditional, Safety, Hybrid
3) By Application: Automotive, Oil And Gas, Energy And Power, Pharmaceutical, Other Applications

North America was the largest region in the safety programmable market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the safety programmable controllers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing adoption of automation systems is expected to propel the growth of the safety programmable controller market going forward. An automation system is a collection of hardware and software components that work together to automate processes or operations that usually require human interaction. The increasing demand for automation systems is due to quality improvement, scalability, and efficiency. Safety programmable controllers automate safety tasks such as emergency shutdowns, fault detection, and machine guarding, reducing the need for constant human monitoring and improving efficiency, leading to higher output levels and resource optimization for businesses. For instance, in October 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, 517,385 new industrial robots will be installed in industries worldwide in 2021. This indicates a 31% growth rate year over year. Therefore, the increasing adoption of automation systems is driving the growth of the safety programmable controller market.

Key Industry Players
Major companies operating in the safety programmable controllers market report are Siemens AG; General Electric Company; Mistubishi Electric Corporation; Schneider Electric SE; Honeywell International Inc.; ABB Group; Eaton Corporation; Emerson Electric Co.; Rockwell Automation; Bosch Rexroth AG; Fuji Electric Co. Ltd.; Omron Corporation; Keyence Corporation; Phoenix Contact GmbH & Co. KG; Yokogawa Electric Corporation; Sick AG; Advantech Co. Ltd.; WAGO; Beckhoff Automation GmbH & Co. KG; Hans Turck GmbH & Co. KG; B&R Industrial Automation GmbH; Banner Engineering Corp.; IDEC Corporation; Pilz GmbH & Co. KG; Leuze electronic Pvt. Ltd.; Treotham Automation Pty Ltd.

The safety programmable controllers market report table of contents includes:

1. Executive Summary
2. Safety Programmable Controllers Market Characteristics
3. Safety Programmable Controllers Market Trends And Strategies
4. Safety Programmable Controllers Market – Macro Economic Scenario
5. Global Safety Programmable Controllers Market Size and Growth
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32. Global Safety Programmable Controllers Market Competitive Benchmarking
33. Global Safety Programmable Controllers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Safety Programmable Controllers Market
35. Safety Programmable Controllers Market Future Outlook and Potential Analysis
36. Appendix

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