Search Market Research reports

Latin America Safety Programmable Controllers Market - By Types (Modular, Compact), Industry, Geography, Trends, Forecast - (2017 - 2022)

The Latin America market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of XX.XX% during the forecast period of 2017 – 2022. The Safety Programmable Controllers are a bit different from the traditional PLC systems. These controllers provide better monitoring facilities as well as self-diagnostics than the standard PLCs and are in fact, an improvement over the traditional hardwired electromechanical systems. The drivers of programmable safety controller adoption include a set of international standards such as, EN ISO 13849-1/2 (safety of machinery safety related parts of control systems), IEC/EN 62061 (safety of machinery functional safety of electrical, electronic and programmable electronic control systems), and IEC 61131 (programmable logic controllers). However, with the existence of these safety standards, the industry has started moving faster towards incorporating the new safety technology into their products. These safety programmable controllers have dual microprocessors and circuits for synchronous detection and constant monitoring of Flash and RAM. The standard PLC inputs have no means of testing the functionality of their input circuits, while programmable safety controllers do have such a provision. The share of value added to GDP by the services sector in Latin America seems to grow steadily, i.e. at around 32 percent as per the 2013 World Bank data. This is in fact, a huge contribution to the GDP. It indicates high production output in most of the emerging and developing service sectors in the Latin American region. Latin America is an advantageous place for investing in new markets, as the government\'s regulatory framework for new investments in this region is favorable to the foreign investors. It could give the companies the competitive advantage, they want. The Latin America Safety Programmable Controllers market is broadly segmented based on their types and end-users. As per the classification of their types, the safety programmable controllers market is segmented into Modular, Compact and others. Similarly, based on its end-users, the applications can be explained under segments such as Automotive, Energy and Power, Manufacturing, Pharmaceutical, Food and Beverages, Oil & Gas, and others. Some of the key market players mentioned in the report are Rockwell Automation, Treotham, ASTRE Engineering, Siemens, ABB, SICK Group and more. Drivers: The key factors contributing to the growth of Latin America Safety Programmable Controllers Market are need for Functional Flexibility, demand for Safe Equipment, Industry Safety Standards, Cost Effective Systems, and need for Simplified Configuration.   Challenges: Complexity of standards, unavailability, training, maintenance and stocking costs are the key challenges of the Safety Programmable Controllers Market.   What the report offers: Market Definition for the Safety Programmable Controllers along with identification of key drivers and restraints for the market Market analysis of Latin America Safety Programmable Controllers market, with region specific assessments Identification of factors instrumental in changing the market scenarios, offering prospective opportunities and the identification of key companies, which can influence the Latin America market on the global and regional scales Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares   Identification and analysis of the Macro and Micro factors that affect the Latin America Safety Programmable Controllers market on the global and regional fronts A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information      

Published By: Mordor Intelligence
Published Date: Q1 2017

Get In Touch

Speak to Ananlyst

Enquiry Before Buying

Request for Customization

Request For Discount

Share With Your Friend

Related Reports