Global safety sensors and switches market to be valued at $30 billion by 2025

By OEM Update Editorial January 2, 2020 6:35 pm IST

According to the analytical research study performed by Persistence Market Research on safety sensors and switches, the global market is projected to expand at a meteoric rate to register a CAGR value of 10.7 per cent throughout the period of assessment, 2017-2025. In 2017, the global market for safety sensors and switches was valued at around $13.8 billion and is estimated to touch a valuation higher than $30 billion by the end of the period of forecast.

The fourth industrial revolution, Industry 4.0, aims at factory automation which removes human intervention. Autonomous robotics and sensor technology is expected to be implemented in industries by the end of 2025. The use of robots in the production line of the manufacturing sector would give a significant boost to the use of sensors and switches. These sensors are used to monitor the functioning of robots and machines, thus ensuring effective production with reduced errors and increasing profit margins. Several countries are opting for automation across various industries, implementing the Industry 4.0 concept. Moreover, they are looking forward to levy strict regulations related to safety in industries and commercial spaces with a view to avoid loss and damage to property or life under any circumstance. The growing industrial revolution has thus presented potential growth opportunities for safety sensors and switches market at a global level.

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