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. 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.

The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.

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Competitive Outlook: The leading companies operating in the Machine Safety market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Top Companies Operating in the Machine Safety Market and Profiled in the Report are:

ABB Ltd. , Emerson Electric Co. , General Electric Co. , Honeywell International Inc. , Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Yokogawa Electric Corp., Omron Corporation, Keyence Corporation

Objectives of the Report:

Study of the global Machine Safety market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)

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 benchmarking

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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Segments Covered in this report are:

• 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

Regional Segmentation:

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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