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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The Global Machine Safety Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Machine Safety Market studies the market scenario to offer growth projections for the Machine Safety Market industry for the forecast period of 2021-2028. The report focuses on potential growth opportunities and limitations the prominent players of the industry might face during the entirety of the forecast timeline.
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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The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of Machine Safety Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
Objectives of the Report:
Study of the global Machine Safety market size by key regions, types, and applications with reference to historical data (2017-2019) and forecast (2021-2028)
Industrial structure analysis of the Machine Safety market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Machine Safety market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Machine Safety market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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