The global machine safety market is expected to reach a market size of USD 7.25 Billion at a revenue CAGR of 5.3% during the forecast period. Key factors driving the market growth include strict machine safety regulations by global safety standard agencies such as International Electrotechnical Commission (IEC) and International Organization for Standardization (ISO), and need for efficient and cost effective safety systems for personnel and asset protection. In the age of Industry 4.0, industries are focusing on acquiring advanced machinery in order to increase their productivity.
Advanced machineries are required to be monitored on a daily basis to avoid unforeseen incidents such as accidents and breakdowns. This makes machine safety systems a necessity in any industry. Rapid industrialization across the globe is another factor responsible for increase in demand for machine safety systems. New technological advancements in machine safety systems also contribute to the market growth. For instance, in June 2019, Schneider Electric launched Smart Factory in the US with an objective of demonstrating the effectiveness of its EcoStruxure architecture.
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Emergen Research has recently published a detailed report on the global Machine Safety Market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Machine Safety Market through verified and validated data curated to offer accurate insights. The report also offers a region wise and country wise analysis of the Machine Safety Market and contains a detailed analysis of the key elements influencing the growth of the market in the region. The research study also contains historical, current, and forecast estimations for each sector, segment, sub-segment, and regions.
Some major companies in the global market report include ABB Ltd. , Emerson Electric Co. , General Electric Co. , Honeywell International Inc. , Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Yokogawa Electric Corp., Omron Corporation, and Keyence Corporation.
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Emergen Research has segmented global machine safety market based on implementation, component, end use, and region.
Implementation Outlook (Revenue, USD Billion; 2021–2028)
Individual Components
Embedded Components
Component Outlook (Revenue, USD Billion; 2021–2028)
Presence Sensing Safety Sensors
Emergency Stop Devices
Safety Interlock Switches
Safety Controller/Modules/Relays
End-Use Outlook (Revenue, USD Billion; 2021–2028)
Oil and Gas
Electronics and Semiconductors
Automotive
Food and Beverage
Healthcare
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Regional Bifurcation of the Machine Safety Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report aims to provide a complete analysis of the global Machine Safety market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Machine Safety market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
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