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, according to the latest analysis by Emergen Research. Strict machine safety regulations enforced by international safety standard organisations like the International Electrotechnical Commission (IEC) and International Organization for Standardization (ISO), as well as the demand for effective and affordable safety systems for the protection of people and assets, are major market growth drivers. In the era of Industry 4.0, businesses are concentrating on investing in cutting-edge machinery to boost productivity.
To prevent unplanned events like accidents and malfunctions, sophisticated machinery needs to be monitored constantly. Because of this, machine safety systems are required in every industry. Another reason for the rise in demand for machine safety systems is global rapid industrialisation. Machine safety system technology developments are another factor in the market’s expansion. For instance, in order to show off the efficiency of its EcoStruxure architecture, Schneider Electric launched Smart Factory in the US in June 2019.
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Competitive Terrain:
The Global Machine Safety Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold
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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The global Machine Safety Market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Machine Safety Market sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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
Key regions covered in the report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
