Demand for Process Automation to Drive Intrinsic Safety Modules Market | Technavio

LONDON--(BUSINESS WIRE)--#Automation--The global intrinsic safety modules market is expected to grow at a CAGR of close to 6% during the period 2017-2021, according to a new market research study by Technavio.



The report categorizes the global intrinsic safety modules market by product (intrinsic safety modules with zener barrier, intrinsic safety modules with isolator barrier, and intrinsic safety modules with convertor barrier) and by end-user (oil and gas, mining, power and chemicals and petrochemicals). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Market driver: high demand for process automation in emerging markets

High demand for input/output safety modules, particularly from the Middle East and the BRICS (Brazil, Russia, India, China, and South Africa) countries, will act as a major driver for the intrinsic safety modules market. Developed regions such as Europe and North America already possess a large market for these modules, whereas countries such as China, India, Vietnam, South Korea, Thailand, and Indonesia and those in Latin America and the Middle East, which are emerging markets, are generating high demand for intrinsic safety modules.

According to Sushmit Chakraborty, a lead analyst at Technavio for automation research, “There is also an increasing demand for network adapters and intelligent I/O modules that also partially supports the growth of the market. I/O modules are not new in the market, and the increasing demand for these modules is attributed to the accelerated rate of process automation in industries with harsh and volatile environments. Therefore, vendors are providing a wide portfolio of I/O modules. The major vendors in the market try to leverage their installed base, whereas some third-party suppliers concentrate on providing specialized and compatible I/O modules depending on the end-users' control systems.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: emergence of intrinsically safe wireless pressure sensors

Wireless pressure sensors feature a rugged metal enclosure with corrosion-resistant construction. Owing to the sealed enclosure, they are highly suitable for outdoor applications in harsh environments. The pressure ports and the pressure diaphragm are also made of corrosion-resistant materials to make them resilient in the harshest of process media. They also have a direct or remote-mount antenna that ensures flexibility in different applications. These pressure sensors are highly useful in remote pressure monitoring applications where maintenance related to wiring is not feasible. This high degree of flexibility in packaging results in increased efficiency and ease of working in remote environments as well as cost-effective process sensing.

Market challenge: applicable only for low power circuits

The major disadvantage of intrinsic safety modules in offering protection is that they can only be used for low-power circuits. Therefore, they cannot be used with intrinsically safe motors. Intrinsic safety modules are used mostly in devices such as pressure transmitters, small capacity solenoid valves, control valve positioners, and similar devices. The measuring devices named above must be designed as intrinsically safe. Vendors need to do a step-by-step procedure to understand the criticality of the systems and how the process works.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Vendors in the market:

  • Rockwell Automation
  • Schneider Electric
  • Siemens
  • Eaton
  • ABB
  • Pepperl+ Fuchs
  • OMEGA
  • Rotork
  • IMI Sensors
  • Extronics

The global intrinsic safety modules market is fragmented with local, regional, and international players. As these modules are used for industry-specific purposes, vendors try to differentiate their products by introducing innovative products. Many vendors target the oil and gas, mining, and power industries as these sectors offer an immense scope for the use of intrinsic safety modules in smart grids and offer protection to electrical devices. The industries next in preference are food and beverage and automotive.

Get a sample copy of the global intrinsic safety modules market report free of cost

Access Technavio’s continuously growing automation research library and find expert analysis on hundreds of markets.

About Technavio

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 10,000 reports and counting, covering 800 technologies, spanning 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.

If you are interested in more information, please contact our media team at media@technavio.com.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com