New York, NY -- (SBWIRE) -- 08/10/2018 -- Safety PLC Market: Overview
A Programmable Logic Controller (PLC) is a type of digital computer used for industrial applications, manufactured for the purpose of controlling manufacturing operations, such as in the field of robotics or any process that requires reliability, process fault diagnosis, accuracy and ease of programming. PLCs were developed to replace timers and hard-wired relays, specifically for the automobile industry. Safety PLC is a type of controller or rather, a type of PLC built specifically keeping in mind safety directives that include the levels of reduction of risk and Safety Integrity Levels (SIL). These safety directives include ISO 13849-1, IEC62061 and IEC 61508. The safety PLC includes many functions. Any faults that can occur in the firmware or the hardware can be detected by the safety PLC, such that any unsafe situation is not caused in the device.
Safety PLC market is estimated to grow at a CAGR of 7% in the forecast period 2017-2021.
Safety PLC Market: Drivers and Restraints
As the sale of commercial and passenger vehicles has increased in the recent past, key automotive manufacturers are planning capacity additions to the automobiles on a large-scale basis. This factor is expected to raise demand not only in automation but also in auto components market. This increase in demand for automotive products is expected to increase the demand for safety PLCs as well. It is a well-known fact that PLCs increase productivity in the processes taking place in an industry. But, safety PLCs enhance this productivity. Hence, the Safety PLCs Market is growing at a fast pace. ERP and MES systems allow workers in one plant of a manufacturing unit to communicate with another plant of the manufacturing unit with the help of PLCs. Hence, manufacturers are able to keep a check on the quality of products being manufactured in all of their manufacturing plants. This factor is likely to drive the growth of Safety PLCs market.
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Lack of awareness regarding advantages of safety PLCs is likely to restrain the Safety PLC Market.
Safety PLC Market: Market Segmentation
Safety PLC Market can be segmented by solution offered and by geography.
Based on solution offered, Safety PLC Market is segmented into:-
Based on geography, Safety PLC Market is segmented into:-
APAC (Asia Pacific)
EMEA (Europe, Middle East and Africa)
Safety PLC Market: Regional Outlook
The APAC (Asia Pacific) region is expected to see the highest growth rate in the Safety PLC Market among all the regions. It is estimated that the Safety PLC Market will grow in the APAC region at a CAGR of 8% in the forecast period 2017 to 2021. One of the reasons for this growth can be attributed to the investments planned on a large scale basis in the countries such as South Korea, China, Japan and India.
In 2010, Asia Pacific region saw immense growth in the Safety PLC Market accounting for about 50% growth. Revenues in 2010 of Safety PLC Market of Asia Pacific Region grew by 8.6%. Owing to its government measures, merchandise exports and industrial production, growth rate is stabilizing in China region.
There are numerous tier I as well as tier II players in the global Safety PLC Market, hence this is a highly competitive market. These tier I and tier II companies have a high potential for automation solution projects that are of very high value. In terms of solutions related to PLC, these players are working on areas such as distribution, scalability, service, quality, interoperability, durability and price.
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Safety PLC Market: Key Players
Major players identified in the Safety PLC Market are:-
Siemens Safety Integrated
Pilz Automation Safety L.P.