Machine Safety Market to Witness Robust Growth Machine Learning and Nanotechnology

Posted January 25, 2022 by ctom7000

More Demand for Machine Safety Solutions due to the outbreak of COVID-19
The machine safety market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Key factors driving the demand for machine safety systems include strict machine safety mandates, and high requirements for reliable safety systems to ensure personnel and asset protection.

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The presense sensing safety sensors component is projected to to hold largest market share of machine safety market from 2020 to 2025

The presense sensing safety sensor market is expect to hold the largest market share owing to the need for security requirements for protecting workers and production units from any accidents mandated by the strict machine safety regulations based on the national and international standards. Moreover the factors such as the rise in machine revolution 4.0, increasing need for safety light curtains in the packaging industry powered by robotics, and rising incidents of accidents in industries are driving the demand for presence sensing safety sensors of machine safety market.

The machine safety market for food & beverages industry is projected to grow at the highest CAGR during the forecast period

The machine safety systems are widely adopted by food and beverage giants to increase production precision and flexibility. Machine safety helps in achieving greater operational transparency across production lines and in ensuring compliance with regulations. The food & beverages industry strives to achieve high quality and consistent production at a low price. This can be achieved by making food & beverages plants more safe, flexible, and profitable by choosing an integrated approach of automated safety control systems such as machine safety solutions. Further, as companies are becoming more aware of regulations, which are becoming more stringent, there is an upsurge in demand for machine safety systems to achieve safe and efficient operations in food & beverage manufacturing plants.

The machine safety market in Europe is projected to hold the largest market share of machine safety during the forecast period

Europe is the largest markets for machine safety systems as machine safety standards are strictly followed within the European Economic Area (comprises all European Union countries). The safety standards and directives present in the region restrict the supply and operation of machinery that do not meet the regulatory requirements. The machine safety requirements are stringent in the European region, which are driving the growth of the market.

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Key Market Players

The machine safety players have implemented various types of organic as well as inorganic growth strategies, such as new product launches, contracts, partnerships and, business expansions, to strengthen their offerings in the market. The major players are ABB Ltd. (Switzerland), Emerson Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Siemens AG (Germany), General Electric Co. (US), Yokogawa Electric Corp. (Japan), Omron Corporation (Japan), Keyence Corporation (Japan), Mitsubishi Electric Corporation (Japan), Pilz GmbH & Co. KG (Germany), Sick AG (Germany), Balluff GmbH (Germany), and Banner Engineering Corp. (US) were the major players in the machine safety market.
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Issued By Tom
Country United Kingdom
Categories Electronics
Tags machine safety market
Last Updated January 25, 2022