LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global industrial interlock switches market size and it is poised to grow by USD 90.79 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
Based on segmentation by product, which is the leading segment in the market?
Guard locking switches is the leading segment in the market.
What are the major trends in the market?
The advent of new technologies is one of the key industrial interlock switches market trends.
At what rate is the market projected to grow?
The market is expected to grow at a CAGR of over 5% during the forecast period
Who are the top players in the market?
ABB Ltd., General Electric Co., IDEC Corp., Keyence Corp., OMRON Corp., Panasonic Corp., Pepperl+Fuchs AG, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG are some of the major market participants.
What are the key market drivers?
The growing demand for non-contact safety interlock switches
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., General Electric Co., IDEC Corp., Keyence Corp., OMRON Corp., Panasonic Corp., Pepperl+Fuchs AG, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG are some of the major market participants. The growing demand for non-contact safety interlock switches will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Industrial Interlock Switches Market 2020-2024: Segmentation
Industrial Interlock Switches Market is segmented as below:
- Guard Locking Switches
- Hinge Switches
- North America
- South America
- Discrete Industries
- Process Industries
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Industrial Interlock Switches Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial interlock switches market report covers the following areas:
- Industrial Interlock Switches Market Size
- Industrial Interlock Switches Market Trends
- Industrial Interlock Switches Market Industry Analysis
This study identifies the advent of new technologies as one of the prime reasons driving the Industrial Interlock Switches Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Industrial Interlock Switches Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist industrial interlock switches market growth during the next five years
- Estimation of the industrial interlock switches market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial interlock switches market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial interlock switches market, vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Guard locking switches - Market size and forecast 2019-2024
- Hinge switches - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Discrete Industries - Market size and forecast 2019-2024
- Process Industries - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- General Electric Co.
- IDEC Corp.
- Keyence Corp.
- OMRON Corp.
- Panasonic Corp.
- Pepperl+Fuchs AG
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.