Market Trends of Asia Pacific Safety I/O Modules Industry
This section covers the major market trends shaping the APAC Safety I/O Modules Market according to our research experts:
Automotive is Expected to Hold Significant Market Share
- The region is also one of the largest automotive markets globally and is home to around 11 major auto manufacturers. Moreover, the industry in the region is experiencing a paradigm shift with the increasing integration of technology. PLC has been adopted at the manufacturing stage to handle the ever-growing demands of the automotive industry. It was initially used as a relay replacement equipment in the automotive industry. This is expected to result in higher demand for automobiles, pushing companies to increase their manufacturing capabilities and establish plants.
- The automotive industry is experiencing a paradigm shift with increasing technology integration. Autonomous car technology is rapidly advancing, with companies investing heavily in this technology. The demand for electric cars is also growing, introducing affordable electric vehicles. This is expected to result in higher demand for automobiles, pushing companies to up their manufacturing capabilities and establish plants.
- Further, many automotive manufacturers are either establishing new manufacturing infrastructure or moving the processes in automotive manufacturing, from manual labor to robotic machinery. Thus, with the increase in the number of industrial robots and automation, there is a need for interfacing these systems with centralized controllers. The automotive industry is thus deploying IO modules for monitoring, data collecting, and controlling these systems.
- Automotive manufacturers across the region understand that the next generation of robotics and automation technologies is a revolutionary opportunity to upgrade automotive manufacturing in terms of productivity, quality, safety, and cost metrics. Moreover, increased yearly robotic automation expenditure is projected to impact the demand for robot automation systems positively.
- Further, Safety IO models offer increased reliability and safety without compromising operational efficiency, so the industry is moving towards safety IO systems. Thus, the automotive industry is expected to be the fastest-growing market for safety IO modules during the forecast period.
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China Accounts For the Largest Market Share
- With the increasing modernization of vehicles, the demand for Safety I/O Modules is gaining an upsurge, particularly in applications like airbags and advanced driver assistance systems (ADAS) solutions. ADAS systems use electronic technology, such as microcontroller units (MCU), electronic control units (ECU), and power semiconductor devices that help the vehicle driver drive or during parking.
- Singulato, an emerging Chinese automaker, indicates that conventional automotive design is highly different. When it comes to intelligent driving capabilities, separate data cannot be combined for multi-scenario applications. The company has a set of sensors, and another automated parking company also uses different sensors from others. Singulato further adopts an integrated design initially, using the same sensors to implement more than a dozen ADAS functions.
- Furthermore, such a design makes subsequent OTA (over-the-air) updates easier. With the advent adoption of integration by the company in the ADAS platform, the demand for microcontrollers is expected to increase.
- Moreover, healthcare device and pharmaceutical companies in the country are also making strategic expansions to maximize their revenue by increasing production. The formation of the “Advanced Manufacturing Partnership” is an initiative undertaken to make the industry, and the federal government, invest in upcoming technologies. This has helped the country gain a competitive edge in the global economy. The National Network for Manufacturing Innovation comprises developing regional hubs, which are likely to develop advanced manufacturing technologies for making innovative products that are likely to be implemented in the sector over the forecast period.
- Further, Safety IO models offer increased reliability and safety without compromising operational efficiency, so the industry is moving towards safety IO systems. Thus, the automotive industry is expected to be the fastest-growing market in the country for safety IO modules during the forecast period.
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