The global industrial safety relays and timers market to grow at a CAGR of 4.23% during the period 2017-2021.
Global Industrial Safety Relays and Timers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the retail selling price is considered as the average selling price of the product..
The latest trend gaining momentum in the market is Increasing use of multi-function safety relays instead of single-function relays. A multi-function safety relay has multiple inputs and outputs. In many applications, a single-function safety relay may not be effective enough to be used while a safety PLC may not be economically viable. In such instances, a multi-function safety relay is effective. This is because it is simple in installation compared with a PLC but better than a single-function safety relay. Single-function safety relays are best suited to control machines with three or less than three safety inputs. Beyond that when safety functions increase considerably, safety PLCs are used. However, a multi-function safety relay is more viable.
According to the report, one of the major drivers for this market is Increasing use of smart and programmable timers. There have been technological advances in electronic timers. These advanced timers offer smart operations with developed control and monitoring functions. The primary benefit that these timers offer is that they can be operated within a wider temperature range, making it easy to use them under harsh environmental conditions. These have been inducing the use of smart timers in industries.
Further, the report states that one of the major factors hindering the growth of this market is Increase in use of safety PLCs over safety relays. With the increase in safety functions, the complexity associated with them has also been growing. Safety relays work best when safety points are less than two or three. Beyond that, the system becomes too complex and cumbersome for safety relays to handle. In such a situation, a safety programmable logic controller (PLC) makes a suitable option to address difficult applications. A safety PLC integrates functions of a control system with a safety system under one platform. With the help of a safety PLC, safety networks can