The machine safety market is a rapidly growing market that is focused on providing solutions to ensure the safety of workers and operators in industrial settings. This market includes a wide range of technologies and solutions that are designed to prevent accidents and injuries caused by machines and equipment in factories and other industrial settings.
The machine safety market includes technologies such as safety sensors, safety controllers, safety switches, and safety relays, which are used to detect and prevent dangerous conditions and hazards in industrial machinery. Other important technologies in this market include machine guarding systems, lockout/tagout systems, and safety light curtains, which are used to physically isolate and protect workers from hazardous machinery.
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The machine safety market is being driven by a range of factors, including increasing awareness of the importance of workplace safety, the growing adoption of automation and robotics in manufacturing, and the need to comply with safety regulations and standards.
Which are Popular Growth Strategies among Machine Safety Market Players?
Some of the leading machine safety market players are focusing on providing cost effective and flexible solutions for safety of workers and assets. Manufacturers are acknowledging the importance that safety plays in offering them a competitive advantage while building a good public image.
Machine safety systems help in reducing the probability of work-related injuries, thereby augmenting the efficiency of the machine operators. The economic slump has laid an obligation on manufacturers to reduce maintenance and operational costs. Owing to this, there has been immense rise in the demand for advanced machine safety solutions, thereby driving the market growth.
Machine Safety Market – Competitive Landscape
Companies operating in the market are aiming at innovation and strategic partnerships with other vendors in order to expand their portfolio of services while addressing the demand from an expanding customer pool. For instance:
- In October 2021, OMRON Corporation announced the launch of its new inspection system, the VT-S10 Series. The new inspection system makes use of artificial intelligence and imaging technology in order to automate high-precision processes for PCB sub-assemblies, thereby eliminating the need for specialist operator skills. The newly launched system shall help in ensuring the security and safety of the production.
- In June 2019, Schneider Electric, announced the launch of Smart Factory in the US, in order to exhibit how its EcoStruxure architecture and related suite of offerings can reduce costs for its customers and support increasing operational efficiency.
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Key Points Covered in Machine Safety Industry Survey
- Which region is expected to showcase high demand for machine safety?
South Asia & Pacific is projected to register strong growth in the market, exhibiting a CAGR of nearly 7.5% during the forecast period.
- Who are some of the leading companies offering machine safety?
ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Schneider Electric SE, and Siemens AG, among others, are the top machine safety solution and service providers. They are likely to account for over 40% of the global market.
- Who is the leading end user in the machine safety market?
Automotive segment is expected to dominate the market over the forecast period, generating a maximum revenue among all by the end of 2021.
Machine Safety Outlook by Category
By Component:
- Presence Sensing Safety Sensors
- Safety Interlock Switches
- Electromechanical
- Hinged Pin
- Limit
- Non-Contact
- Tongue
- Trapped Key
- Programmable Safety Systems
- Safety Modules
- Emergency Stop Controls
- Others
By Industry:
- Automotive
- Food & Beverages
- Packaging
- Material Processing
- Pharmaceuticals
- Electronics & Semiconductors
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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