Machine Safety Market by Component (Presence detection Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls), Offering, Industry and Region - Global Forecast to 2029
Machine Safety Market
Machine Safety Market and Top Machine Guarding Companies
- Schneider Electric offers a diversified machine safety solutions under its Industrial Automation business segment. The company provides SIL 3 function safety solutions that ensure the fail-safe performance of controllers for energize-to-trip and de-energize-to-trip applications. Triconex, a brand of Schneider Electric, provides Trident safety instrumented systems with SIL 3 certification. These safety systems feature high scalability, with applications as low as 32 I/O points per system to as high as 40,000 I/O points. Schneider Electric has a strong portfolio of machine safety-certified emergency stop devices and safety instrumented systems.
- Honeywell offers a wide range of solutions related to machine safety through its Safety and Productivity segment. The company offers safety systems and solutions such as integrated control and safety systems, distributed control systems, control monitoring and safety systems, and industrial wireless solutions in the control, monitoring, and safety systems category. The company has recently launched various products to diversify its machine safety product portfolio. The launches are a result of extensive R&D conducted by the company.
- ABB is one of the leader in power and automation technology companies. It focuses on increasing profitability by strengthening competitiveness, driving organic growth, and lowering risks. ABB has launched the innovation & expansion plan (PIE) to drive profitable growth for its businesses. The company is primarily focusing on organic growth through product launches and developments and expansion of its safety product portfolio.
- Siemens is mainly engaged in the electrical engineering and electronics business. The company is a leading supplier of power transmission, power generation, and infrastructure solutions, coupled with automation, drive, and software solutions. Company provides machine safety-certified SIL-rated products for pressure, temperature, flow, and level measurements for both process and factory automation. It has also launched various innovative machine safety solutions. Safety technology products offered by the company comply with the latest safety standards and have been certified for international applicability. The SIRIUS portfolio of the company features 2 safe evaluation devices—safety relays and modular safety systems.
- Rockwell Automation is a leading provider of industrial automation and information solutions. The company offers a diverse set of products and services, including industrial control components, information software, sensing devices, and industrial security solutions. Rockwell Automation offers machine safety solutions through its Control Products & Solutions segment. The company offers machine safety products such as safety connection systems, safety drives, safety I/O modules, emergency stop devices, presence sensing safety devices, safety programmable controllers, safety relays, and safety switches.
Machine Safety Market Component
- Presense Sensing Safety Sensors: Sensor deployed in a safety system are developed and designed to ensure a safe output based on the signals received from the logic circuits. Safety edges, laser scanners, safety light curtains, safety mats, and optoelectronic devices (including hand detection and single & multi-beam) are some of the types of presence sensing sensors.
- Programmable safety systems: Programmable safety systems are highly reliable logic solvers, which provide both fail-safe and fault-tolerant operations. The market for programmable safety systems is anticipated to grow at a fast rate in the coming years as manufacturers are replacing the existing systems with PLCs to comply with strict machine safety regulatory standards. Programmable safety systems are an integral part of safety instrumented systems.
- Safety controllers/modules/relays: Numerous safety devices in machine safety require safety controllers/modules/relays to shut down equipment in case of any emergency. Safety relays are devices that implement safety functions. It provides the means to effectively and quickly remove power from machines or equipment in case of an emergency shutdown situation, thereby reducing risks to an acceptable level.
- Safety interlock switches: Safety interlock switches are designed to protect operators and equipment in automation plants. Electromechanical, hinge pin, limit, non-contact, tongue, and trapped key are the different types of safety interlock switches. These components are intended to protect equipment and end users from injuries during critical situations. They prevent the restart of a shutdown piece of equipment until the fault that caused the shutdown is corrected.
- Emergency stop controls: Emergency stop controls are crucial elements of the safety-related parts of control systems. These devices provide workers a means of stopping a device during an emergency by pushing a button or pulling a rope. The different types of emergency stop devices include emergency stop buttons, rope pull switches, and flush mount E-stops.
Machine Safety Market Technology Trends
- Computer Vision: Computer vision helps in automating production processes by controlling different devices. The use of computer vision increases efficiency as it eliminates the requirement of workers in hazardous areas. For example, in the packaging process, computer vision, with the help of barcodes, analyzes products, classifies them, and packages them.
- Internet of Things (IoT): The use of IoT enables analysis of workplace conditions and helps in keeping workers safer and healthy. IoT analyzes the exposure of workers in hazardous conditions and determines the acceptable limit for exposure levels. Compliance with regulations can be maintained with the help of IoT by monitoring compliance requirements and ensuring its adherence. With the help machine learning algorithm, IoT analyzes data, and checks the pattern of work performed in the plant.
- Machine Learning: The use of automated machine learning in terms of providing safety to workers and machines is currently trending in the industrial sector. It eliminates the need for any worker in hazardous areas for detecting errors and notifying the user of any abnormalities in the functioning. This helps in reducing processing time and provides safety in the plant.
Updated on : April 04, 2024
The global Machine safety market size is expected to grow from USD 5.4 billion in 2024 to USD 7.0 billion by 2029, registering a CAGR of 5.4%.
The machine safety market is thriving due to heightened workplace safety awareness, stringent regulatory compliance, and widespread integration of automation technologies across global industries, fostering substantial growth.
Machine Safety Market Forecast to 2029
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Market Dynamics
Driver: Adoption of automation to improve efficiency and productivity
Industrial automation has significantly increased in recent years to achieve cost savings, quality control, etc. Industrial automation, which includes the deployment of advanced technologies such as robotics, artificial intelligence, and machine learning, also helps companies increase plant efficiency and productivity by automating repetitive tasks and reducing errors. Automated systems can work faster and more accurately than human operators, which helps reduce production time and cost and increase output. However, automation also introduces new risks, as machines and equipment can become hazardous if not properly designed, installed, and maintained. The quantity and complexity of machinery and equipment used in manufacturing, production, and other sectors will rise as industrial automation advances. As a result, there will be an increase in the need for machine safety products and services to safeguard people and equipment from possible risks. Technological advancements enable the creation of increasingly complex and sophisticated safety solutions, such as machine vision systems, safety sensors, and safety controllers. These solutions can increase machine and equipment safety and productivity, and efficiency. Hence, machine safety is critical in industrial automation because it assures equipment safety. Thus, increased industrial automation will almost certainly contribute to development in the machine safety industry.
Restraint: Complexities associated with machine safety systems
One of the major factors hindering the growth of the machine safety market is the lack of awareness about the advantages of using these systems. Emerging economies are still unaware of the availability of safety devices that can safeguard machinery and labor. Most manufacturers do not appoint safety experts who advise adopting the safety devices necessary for each machine or process. Secondly, even if end users know the benefits of safety devices, development and integration-related complexities restrict their implementation. Certified and trained mechanical, electronics, and software engineers and industrial safety management professionals must work cohesively to design robust safety management devices. The challenge is further augmented while installing and validating the system. Ensuring that the system fully meets the safety integrity level (SIL) requirements is critical. Additionally, setting systems at appropriate performance standards to achieve potential economic benefits is highly important. Apart from environmental benefits, deploying these systems can have long-term gains, such as reduced operational expenses and process downtime. However, these systems require careful documentation, design, operation, maintenance, and testing to ensure compliance with standards.
Opportunity: Increasing awareness about workplace safety standards in emerging economies
Developed countries, such as the US, the UK, France, Australia, Japan, and the Netherlands, have adopted workplace safety standards formulated by local and international regulatory bodies. Governments of these countries have implemented stringent laws for industries violating human and equipment safety norms. However, emerging economies are still lagging in terms of the adoption of machine safety systems. It is imperative to note that the manufacturing sector in countries such as South Korea, India, and China has expanded over the past few years due to labor’s cheap and easy availability. Although awareness regarding occupational safety in these countries is limited, worker unions have recently staged protests to adopt safety standards in industries. Thus, developing countries exhibit heightened adoption of machine safety systems, likely to push market growth in the coming years. The Human Development Index (HDI) and the demands of worker unions for improved safety at workplaces have propelled the adoption of safety systems in both emerging and developed countries.
Asia Pacific is considered one of the fastest-growing economies. Countries in this region focus on large-scale industrial manufacturing and, thus, have many manufacturing plants for almost all major companies worldwide. Countries such as China, India, Japan, South Korea, Australia, and Indonesia are rapidly expanding their manufacturing output. China is considered one of the world's biggest manufacturing countries, thereby driving the growth of the manufacturing sector in Asia Pacific. Various multinational companies have set up their regional manufacturing plants and are adopting higher safety standards, leading to increased demand for safety systems.
Challenge: Failure to assess and anticipate all potential risks associated with machinery setup
Establishing comprehensive machine guarding involves conducting a risk assessment that incorporates insights from various stakeholders, including guard designers, machine operators, maintenance personnel, supervisors, engineers, safety professionals, machine guarding experts, and representatives from the original equipment manufacturer (OEM). It is challenging for a designer to independently anticipate all potential hazards associated with equipment setup, operation, inspection, and maintenance. In situations where workers need access to areas within machine guards, meticulous planning and execution become essential. Even with initial risk assessment efforts, there is a potential oversight of crucial requirements related to the design and performance of interlock devices and monitoring components, such as relays and safety-rated programmable logic controllers. These components play a crucial role in ensuring protection when implementing alternative safeguarding measures.
Machine Safety Market Ecosystem
The figure below shows the Machine safety ecosystem.
Systems of Machine safety holds the largest market share in the year 2023.
The rapid growth of machine safety systems is evident in the integration of advanced technologies like sensors, artificial intelligence, and automation. These systems play a crucial role in safeguarding industrial environments by continuously monitoring and responding to potential hazards. The increasing emphasis on worker well-being, stringent safety regulations, and the continuous evolution of safety technologies contribute to the expanding adoption of machine safety systems across various industries globally.
Presence Detection sensors segment to hold largest market share in 2023.
The presence detection sensors market is experiencing notable growth attributed to increasing demand for automation and smart technologies. These sensors, vital in industrial and commercial applications, detect the presence or absence of objects and humans. The surge in smart building solutions, industrial automation, and the need for contactless technologies post-pandemic contribute to the market's expansion. Ongoing innovations and the integration of presence detection sensors in diverse sectors further fuel this growth, marking a significant upward trajectory for the market.
Food & Beverages is expected to register highest CAGR during the forecast period
The food and beverages industry is undergoing substantial growth globally. Factors driving this expansion include evolving consumer preferences, increased demand for healthier options, and the rise of innovative products. Additionally, globalization and changing lifestyles contribute to the industry's dynamism. Continuous product innovation, efficient supply chains, and an emphasis on sustainability further propel the growth of the food and beverages sector in diverse markets.
North America to hold largest market share in the year 2023
The machine safety market in North America is on a robust growth trajectory. This surge is propelled by stringent regulatory frameworks emphasizing workplace safety, increased awareness among industries, and a rising adoption of advanced automation technologies. The region's commitment to enhancing worker safety and the continuous integration of cutting-edge safety solutions contribute to the sustained expansion of the machine safety market in North America.
Machine Safety Market by Region
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Top Machine Safety Companies - Key Market Players
The Machine safety companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market are Schneider Electric (France), Honeywell International, Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), General Electric (US), Mitsubishi Electric Corporation (Japan), Sick AG (Germany), HIMA (Germany), and IDEC Corporation (Japan)
The study includes an in-depth competitive analysis of these key players in the Machine safety market with their company profiles, recent developments, and key market strategies.
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Report Metric |
Details |
Estimated Market Size |
5.4 billion |
Projected Market Size |
7.0 billion |
Growth Rate |
5.4% |
Years Considered |
2020–2029 |
Base Year Considered |
2023 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Million/Billion) |
Segments Covered |
By Offerings, By Component, By Process Industry, By Discrete Industry and By Region |
Regions Covered |
North America, Asia Pacific, Europe, and the Rest of the World |
Companies Covered |
Schneider Electric (France), Honeywell International, Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), General Electric (US), Mitsubishi Electric Corporation (Japan), Sick AG (Germany), HIMA (Germany), and IDEC Corporation (Japan) and a total of 25 players covered |
Machine Safety Market Highlights
This report has segmented the Machine safety market based on Offerings, Component and Industry and Region.
Segment |
Subsegment |
By Offerings |
|
By Components |
|
By Process Industry |
|
By Discrete Industry |
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By Region |
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Recent Developments:
- In June 2023, Schneider Electric, at the forefront of digitally transforming energy management and automation, unveiled an updated edition of its primary Square D safety switch, the VisiPacT heavy-duty safety switch. This latest release introduces fresh functionalities and a revitalized design to enhance the reliability of the existing offering.
- In January 2023, Siemens launched two new aspirating smoke detectors (ASD): FDA261 and FDA262. The biggest coverage area currently offered on the market is 6,700 m2, which can be covered by one smoke detector. A single ASD+ detector can provide up to 2,000 m2 of detection coverage, even for Class A installations with the strictest sensitivity requirements. With the new ASD Connect app, digital commissioning is quick and simple. It significantly automates and simplifies the commissioning procedure.
- In August 2023, Yokogawa Electric Corporation will upgrade the Collaborative Information Server, part of the OpreX™ Control and Safety System, to enhance alarm management, access to maintenance data, and support for international communication standards.
Frequently Asked Questions(FAQs):
What will the size of the machine safety market be in 2024?
The Machine safety market will be valued at USD 5.4 billion in 2024.
What CAGR will be recorded for the Machine safety market from 2024 to 2029?
The global machine safety market is expected to record a CAGR of 5.4% from 2024 to 2029.
Who are the top players in the Machine safety market?
The significant vendors operating in the Machine safety market include Schneider Electric (France), Honeywell International, Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), General Electric (US), Mitsubishi Electric Corporation (Japan), Sick AG (Germany), HIMA (Germany), IDEC Corporation (Japan), and among others
Which significant countries are considered in the Asia Pacific region?
The report includes an analysis of China, Japan, India, and the rest of the Asia Pacific region.
Which Components have been considered in the Machine safety market?
Safety Interlock Switches, Emergency Stop Controls Presence detection Sensors, Programmable Safety Systems, Safety Controllers/Modules/Relays, and Two-Hand Safety Controls are considered in the market study.
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The study involves four significant activities for estimating the size of the Machine safety market. Exhaustive secondary research has been conducted to collect information related to the market. The next step is to validate these findings and assumptions related to the market size with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the Machine safety market. After that, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.
Secondary Research
Secondary sources for this research study included corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; certified publications, articles by recognized authors; directories; and databases. The secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.
Primary Research
Extensive primary research has been conducted after gaining knowledge about the current scenario of the Machine safety market through secondary research. Several primary interviews have been conducted with experts from the supply and demand sides across four major regions—North America, Europe, Asia Pacific, and RoW. This primary data has been collected through questionnaires, emails, and telephonic interviews.
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Market Size Estimation
In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been implemented to estimate and validate the size of the Machine safety market and other dependent submarkets listed in this report.
- The key players in the industry and markets have been identified through extensive secondary research.
- The supply chain of the industry and the market size, in terms of value, have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Machine safety Market: Top-Down Approach
- In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits obtained from secondary and primary research.
- For calculating the Machine safety market segments, the market size obtained by implementing the bottom-up approach has been used to implement the top-down approach, which was later confirmed with the primary respondents across different regions.
- The bottom-up approach has also been implemented for the data extracted from secondary research to validate the market size of various segments.
- Each company’s market share has been estimated to verify the revenue shares used earlier in the bottom-up approach. With the help of data triangulation and validation of data through primary, the size of the overall Machine safety and each market have been determined and confirmed in this study.
Machine safety Market: Bottom-Up Approach
- The bottom-up approach was used to arrive at the overall size of the Machine Safety market from the revenue of key players and their market share.
- Identifying various industries using or expected to deploy Machine Safety by its type at their facilities.
- Analyzing the use cases across different regions and companies.
- Estimating the size of the Machine Safety market on the basis of the demand from these industries and companies
- Tracking the ongoing and upcoming installation contracts, acquisitions, expansions, and product launches by various companies, and forecasting the market based on these developments and other critical parameters.
- Conducting multiple discussions with key opinion leaders to understand Machine Safety Type & product by companies in these industries to analyze the break-up of the scope of work carried out by each major company providing Machine Safety components.
- Arriving at the market estimates by analyzing the country-wise sales of Machine Safety solutions companies and combining this data to get the regional market estimates.
- Verifying and crosschecking the estimates at every level through discussions with key opinion leaders, including CEOs, directors, operations managers, and domain experts at MarketsandMarkets
- Studying various paid and unpaid information sources, such as annual reports, press releases, and white papers.
Data Triangulation
After arriving at the overall market size, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed wherever applicable to complete the overall market engineering process and arrive at exact statistics for all segments. The data was then triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Market Definition
A machine safety system is a set of measures and components designed to ensure the safety of operators and other personnel working with or near machines. These systems typically include physical guards, safety interlocks, emergency stops, warning signs, and other devices intended to prevent or minimize the risks of injury or harm.
The primary goal of a machine safety system is to prevent accidents and injuries by reducing or eliminating the potential hazards associated with operating machines. This includes ensuring that all components are properly installed and maintained, workers are adequately trained and informed about potential hazards, and appropriate safety procedures are in place and followed.
In addition to protecting workers, machine safety systems can help minimize downtime and reduce the risk of equipment damage or failure. By implementing appropriate safety measures, businesses can improve their overall productivity and profitability while ensuring the safety of their employees.
The machine safety market comprises players that offer components such as presence-sensing safety sensors, safety switches, safety controllers/relays, programmable safety systems, and emergency stop devices. The market is diversified, with component manufacturing companies competing across the value chain to sustain their position in the market and increase their market share.
The machine safety market is likely to witness significant growth in the coming years because it is essential for companies in the automotive, food & beverage, oil & gas, power generation, and chemical industries to invest in safety measures to reduce the risk of accidents and promote a safe working environment. Schneider Electric (France), Honeywell International Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), KEYENCE CORPORATION (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), and General Electric (US) are among a few key companies in this market.
Key Stakeholders
- Original equipment manufacturers (OEMs)
- Providers of technology solutions
- Research institutes
- Market research and consulting firms
- Forums, alliances, and associations related to Machine safety
- Technology investors
- Governments and financial institutions
- Analysts and strategic business planners
- Existing end users and prospective ones
Report Objectives:
- To describe and forecast the Machine safety market in terms of value based on Offerings, Components, Process Industry, and Discrete Industry
- To describe and forecast the Machine safety market size in terms of value for four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the Machine safety market
- To provide a detailed overview of the supply chain of the ecosystem
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
- To analyze the probable impact of the recession on the market in the future
- To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio.
- To analyze competitive developments such as acquisitions, product launches, partnerships, expansions, and collaborations undertaken in the Machine safety market
Available Customization:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for this report:
- Company Information: Detailed analysis and profiling of additional five market players
Growth opportunities and latent adjacency in Machine Safety Market