Increasing environmental sustainability measure to boost the adoption of safety sensors and switches

Rockville , Jan. 24, 2024 (GLOBE NEWSWIRE) -- By 2024, the global safety sensors and switches market is expected to reach a valuation of US$ 25,061.2 million. It is anticipated that the market will develop at a 9.5% CAGR from 2024 to 2034. The market is predicted to rise to a value of US$62,107.4 million by 2034.

Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9355

One strong factor propelling the market for safety switches and sensors is the development of smart cities. Sensor solutions are becoming more and more in demand as cities use technology to improve efficiency and safety. Applications such as infrastructure monitoring, traffic control, and surveillance are influencing the market's trend toward safe and intelligent urban settings.

Report Attribute	Details
Value Projection (2034)	US$ 62,107.4 Million
Growth Rate (2024-2034)	9.5%CAGR
No. of pages	170 Pages
No. of Tables	48 Tables
No. of Figures	144 Figures

Key Takeaways from the Market Study

• North America is expected to increase its market share to 29.1% by 2024.
• In contrast, it is anticipated that East Asia would increase its market share to 35.9% by 2024.
• The market in the United States is projected to reach a valuation of US$ 4,711.2 million in 2024, with a predicted increase in market share to 64.6%.
• The safety sensor and switch market in China is projected to be worth US$ 5,002.3 million in 2024.
• A 55.6% market share is anticipated to be attained by the industry in the same year.
• In 2024, the industrial end-use sector is projected to account for 45.9% of the market share.
• By 2024, electromechanical safety switches and sensors should account for 25.3% of the market.
  

“The market for safety sensors and switches is driven by the growing acceptance of Industry 4.0 solutions, which are being adopted by companies looking to improve the safety measures of industrial processes with the latest technology,” remarks a Fact.MR analyst.

Key Companies Profiled in This Report

• ABB
• Siemens
• Pepperl + Fuchs
• Hans TURCK GmbH & Co. KG
• OMEGA Engineering
• KEYENCE CORPORATION
• Eaton Corporation Plc
• Datalogic S.P.A
• SICK Automation
• Texas Instruments
• Honeywell International
  

Competitive Landscape

Companies within the safety sensor and switch market are employing profit-boosting strategies. Innovation is sparked by a focus on research and development, which results in novel technologies that adapt to changing market demands. Expanding market reach through strategic alliances and collaborations with industry experts, coupled with an emphasis on cost and scalability, guarantees wider acceptance.

Predictive maintenance that makes use of data-driven insights improves customer happiness and loyalty. Adhering to sustainability standards is in line with consumer preferences and market trends, which promote profitability through regulatory compliance and eco-friendly consumer wants.

Product Portfolio

• In 2023, with the latest rebranding of its industrial Internet of things suite, Omega Engineering appears to be reaffirming its commitment to advancing data connection across the board for industrial sensors. Omega Link, formerly known as Layer N, is the most recent offering from a corporation that is well-positioned to assist industrial enterprises in moving to more data-driven, networked settings.
• Omega Link may be coupled with rival sensors via a wireless smart interface device and is compatible with both Omega's extensive range of connectable legacy sensors and its expanding line of smart sensors.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9355

More Valuable Insights Available:

Fact.MR offers an unbiased analysis of the safety sensors and switches market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the safety sensors and switches market, the market is segmented on the basis of type (electromechanical, magnetic, photoelectric, inductive, ultrasonic, capacitive), end use (industrial, commercial and institutional, residential), and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

Explore More Related Studies Published by Fact.MR Research:

Hydrogen Sensor Market: The global hydrogen sensor market reached a market valuation of US$ 314.4 million in 2022 and is expected to evolve at a CAGR of 6.7% to climb to US$ 599 million by the end of 2032.

Float Switch Sensor Market: The global float switch sensor market is set to reach US$ 4.56 billion in 2022 and further expand at a high CAGR of 7.3% to end up with a market valuation of US$ 9.22 billion by 2032.

Air Flow Sensor Market: The global air flow sensor market is estimated at USD 2.2 billion in 2022 and is forecast to surpass USD 3.3 billion by 2032, growing at a CAGR of 4.1% from 2022 to 2032.

About Fact.MR

Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. Fact.MR's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at Fact.MR continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.