Global Safety Actuators Markets, 2019-2023 & 2024-2029: Integration of the Internet of Things and Industry 4.0 are Driving Expanding Markets

Dublin, Nov. 10, 2023 (GLOBE NEWSWIRE) -- The "Global Safety Actuators Market (2023 Edition): Analysis By Type (Linear, Rotary), Actuation (Electric, Hydraulic, Pneumatic), End-User Industry, By Region, By Country: Market Insights and Forecast (2019-2029)" report has been added to ResearchAndMarkets.com's offering.

During the forecast period, 2024-2029, the Global Safety Actuators Market is expected to expand at a CAGR of 8.3%. Integration of the Internet of Things and Industry 4.0 are driving the Global Safety Actuators Market.

The Global Safety Actuators Market is expected to generate USD 1481.61 million by the end of 2029, up from USD 857.06 million in 2022. Increases in manufacturing plants, and the automotive sector, have emerged as key drivers for the global Safety Actuators market.

The research report provides valuable insights, including market size, annual growth rates, potential analysis, competitive assessment of market players, investment opportunities, and demand forecasts. The study also evaluates growth indicators, limitations, supply and demand risks, and other critical statistics, along with a comprehensive assessment of current and future market trends shaping the market's evolution.

The increasing awareness among industries regarding the significance of industrial safety, coupled with stringent safety regulations, is fueling the adoption of safety actuators within factories. These actuators offer a range of features, including fail-safe operation, emergency shutdown capabilities, and rapid response times, enhancing worker safety and equipment protection.

Furthermore, technological advancements have led to the development of innovative safety actuators with enhanced functionality and connectivity. For instance, some safety actuators can seamlessly integrate with intelligent control systems, enabling real-time monitoring and remote operation. This not only elevates safety standards but also boosts operational efficiency across industrial processes.

Robotics and Process Automation is an emerging technology that automates business processes by combining software, artificial intelligence, machine learning capabilities, and algorithms to replicate human activities and automate manual tasks in workflow and process-related applications and operations.

Process Automation, powered by algorithms, remains a preferred choice for many companies to execute routine tasks efficiently. The increasing demand for enhanced performance in robotics and automation safety actuators across various industries is driving the development of advanced actuators such as electric actuators, compact pneumatic actuators, and explosion-proof actuators.

As technology continues to evolve, robots are becoming more energy-efficient and versatile, making them suitable for deployment across diverse industries.

Key Attributes:

Scope of the Report

• The report analyses the Global Safety Actuators Market by Value (USD Million).
• The report presents the analysis of Global Safety Actuators Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Global Safety Actuators Market by Type (Linear and Rotary).
• The report analyses the Luxury Goods Market by Actuation (Hydraulic, Pneumatic, Electric).
• The report analyses the Luxury Goods Market by End-use Industries (Consumer Electronics, Manufacturing Plant, Automotive, Aerospace & Defense, Medical and Others).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Type, and by Actuation.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.

Strategic Recommendations

• Fragile Supply Chains
• Investment in Research and Development

Competitive Positioning

• Companies' Product Positioning
• Market Position Matrix
• Market Share Analysis of Safety Actuators Screening Market

Company Profiles

• Siemens AG
• Emerson Electric Co.
• Mitsubishi Electric
• ABB Ltd.
• Sick AG
• Rotork Plc
• Festo AG & Co. KG
• General Electric Company
• Bimba
• MOOG

For more information about this report visit https://www.researchandmarkets.com/r/yt8tbe

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Attachment

• Global Safety Actuators Market