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. 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.
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The MACHINE SAFETY Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global MACHINE SAFETY Market. The report offers in-depth research and assessment of the key elements of the global MACHINE SAFETY Market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the MACHINE SAFETY Market.
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)
Component Outlook (Revenue, USD Billion; 2021–2028)
Presence Sensing Safety Sensors
Emergency Stop Devices
Safety Interlock Switches
End-Use Outlook (Revenue, USD Billion; 2021–2028)
Oil and Gas
Electronics and Semiconductors
Food and Beverage
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Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Machine Safety market
Sales revenue by key players and new entrants
Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight into recent trends and opportunities
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)
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