Global Machine Safety Market | Research Statistics, Top Manufactures And Forecast 2027

Machine Safety Market Overview:

The Machine Safety market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry's top rivals. The research scope covers a complete analysis of the Machine Safety Market, as well as the causes for variances in the industry's growth in various places.

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Machine Safety Market was valued at US$ 4.78 Bn. in 2020, and it is expected to reach US$ 7.29 Bn. by 2027 with a CAGR of 6.21% during the forecast period.

Market Scope:

To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.

Drivers:

The need for intelligent safety solutions is expanding. More consumers are demanding real-time device monitoring as they look into novel ways to improve safety. Modern manufacturing equipment needs to be flexible and adaptable with an emphasis on reducing downtime and raising productivity. Many contemporary products have enhanced connectivity, including FROFIBUS and FROFISafe, which give users access to diagnostic information in real time. Reduced downtime, improved production quality, and more responsive operations all increase end-user efficiency.

Better visibility into the safety system is highlighted by the seamless integration of sensor technology and automation systems, which has the potential to change how performance and stoppages are monitored. This signifies a shift in machine safety strategy from a reactive to a proactive one.

Segmentation:

The machine safety market is divided into various categories depending on the component, including presence-sensing safety sensors, emergency stoppers, safety interlock switches, safety controller/modules/relays, and other components. The presence sensing safety sensor market is anticipated to have the largest market share due to the need for security requirements for protecting workers and production units from any mishaps mandated by strict machine safety rules based on national and international standards.

Additionally, factors like the emergence of machine revolution 4.0, the rise in industrial accidents, and the rising demand for safety light curtains in the packaging industry powered by robotics are boosting the demand for presence-detecting safety sensors in the machine safety market.

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Key Players: The key players are

• ABB Ltd.
• Emerson Electric Co.
• General Electric Co.
• Honeywell International Inc.
• Schneider Electric SE
• Rockwell Automation Inc.
• Yokogawa Electric Corp.
• Omron Corporation
• Keyence Corporation
• Mitsubishi Electric Corporation
• Pilz GmbH & Co. KG.
• Sick AG
• Balluff GmbH
• Banner Engineering Corp.
• Siemens AG

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Regional Analysis:

Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Machine Safety market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.

COVID-19 Impact Analysis on Machine Safety Market: The report also includes a detailed analysis of COVID-19 on the Machine Safety market.

Key Questions Answered in the Machine Safety Market Report are:

• Which sub-segment had the largest share in the Machine Safety market?
• How is the competitive landscape of the Machine Safety market in 2020?
• Which are the key drivers impacting the Machine Safety market growth?
• Which region holds the maximum share in the Machine Safety market?
• What will be the CAGR of the Machine Safety market during the forecast period (2021-2027)?

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