Safety IO Modules Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.85 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Safety IO Modules Market Analysis
The safety IO modules market is expected to register a CAGR of 5.85% by 2021-2026. 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.
Safety IO Modules Market Trends
This section covers the major market trends shaping the Safety IO Modules Market according to our research experts:
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.
Safety IO Modules Industry Overview
The safety IOmodules marketis consolidated due to a few major playersare having a huge share of the market.Some of the key players includeABB Ltd., Siemens AG, Rockwell Automation Inc.,Schneider Electric, Honeywell InternationalInc.,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.
Safety IO Modules Market Leaders
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ABB Ltd.
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Rockwell Automation Inc.
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Siemens AG
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Schneider Electric
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
Safety IO Modules Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Demand for Faster Start-up Machine Time
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4.2.2 Reduced Hardware and Wiring Costs
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4.2.3 Miniaturization and Variable Designs
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4.3 Market Restraints
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4.3.1 Complexity of Standards and Lack of Awareness
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4.4 Industry Attractiveness - Porter's Five Force Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Analog Modules
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5.1.2 Digital Modules
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5.1.3 Other Types
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5.2 By Ratings
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5.2.1 IP 20
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5.2.2 IP 67
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5.2.3 Other Ratings
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5.3 By End-user Application
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5.3.1 Automotive
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5.3.2 Manufacturing
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5.3.3 Healthcare
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5.3.4 Energy and Power
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5.3.5 Other End-user Applications
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.2 Europe
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5.4.2.1 United Kingdom
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5.4.2.2 Germany
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5.4.2.3 France
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5.4.2.4 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 India
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5.4.3.4 Rest of Asia-Pacific
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5.4.4 Rest of the World
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 ABB Ltd.
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6.1.2 Siemens AG
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6.1.3 Rockwell Automation Inc.
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6.1.4 Schneider Electric
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6.1.5 Parmley Graham Ltd.
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6.1.6 Honeywell International Inc.
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6.1.7 Advantech Co. Ltd.
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6.1.8 Weidmuller Interface GmbH & Co. KG
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- *List Not Exhaustive
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7. INVESTMENT ANALYSIS
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Safety IO Modules Industry Segmentation
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.
| By Type | |
| Analog Modules | |
| Digital Modules | |
| Other Types |
| By Ratings | |
| IP 20 | |
| IP 67 | |
| Other Ratings |
| By End-user Application | |
| Automotive | |
| Manufacturing | |
| Healthcare | |
| Energy and Power | |
| Other End-user Applications |
| Geography | ||||||
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| Rest of the World |
Safety IO Modules Market Research FAQs
What is the current Safety IO Modules Market size?
The Safety IO Modules Market is projected to register a CAGR of 5.85% during the forecast period (2024-2029)
Who are the key players in Safety IO Modules Market?
ABB Ltd., Rockwell Automation Inc., Siemens AG, Schneider Electric and Honeywell International Inc. are the major companies operating in the Safety IO Modules Market.
Which is the fastest growing region in Safety IO Modules Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Safety IO Modules Market?
In 2024, the North America accounts for the largest market share in Safety IO Modules Market.
What years does this Safety IO Modules Market cover?
The report covers the Safety IO Modules Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Safety IO Modules Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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