According to the new market research report "Machine Safety Market with COVID-19 Impact, by Component (Presence Sensing Safety Sensors, Safety PLCs, Safety Modules/Controllers/Relays), Implementation, Application (Assembly, Packaging, Robotics), Industry, and Region - Global Forecast to 2025" The global machine safety market size is estimated to be USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025, at a CAGR of 6.1%. The increasing focus on personal and asset protection and stringent equipment and machinery safety regulations are responsible for the growth of the machine safety market. Additionally, the rising use of IIoT to ensure better management and enhanced performance of industrial assets is also expected to be the major factor for market growth.
Browse 148 market data Tables and 43 Figures spread through 204 Pages and in-depth TOC on " Machine Safety Market with COVID-19 Impact, by Component (Presence Sensing Safety Sensors, Safety PLCs, Safety Modules/Controllers/Relays), Implementation, Application (Assembly, Packaging, Robotics), Industry, and Region - Global Forecast to 2025"
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The presence sensing safety sensors is expected to hold the largest share of the machine safety market.
Sensors 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 are some of the presence sensing sensors. Presence sensing safety sensors dominate the machine safety market owing to various factors such as the advent of the fourth industrial revolution, increasing need for safety light curtains in the packaging industry fueled by the implementation of robotics, and rising accidents in industries.
The embedded components segment is expected to hold the highest CAGR during the forecast period.
Embedded safety components increase efficiency and provide better flexibility to operators. The embedded components are microprocessor-based security systems designed to perform safety functions. Integrating safety components in machinery is a process in which potential risks are considered, machines are designed for optimum performance, and necessary safety measures are undertaken to improve performance and safety. These systems reduce downtime by safely resolving issues without stopping the entire production line. All these factors are responsible for the growth of the segment.
Assembly application is expected to hold the largest growth rate during the forecast period.
A manufacturing assembly line consists of workstations geographically dispersed within the plant. These workstations are connected by a mechanized work transport system that transports parts from one workstation to another. Assembling is a continuous, fast, and precise process; it must be error-free. Moving parts of machinery and other potential hazards can cause harm to workers; therefore, it is necessary to adopt machine safety measures for assembly applications.
Food & Beverage is likely to hold the highest CAGR between 2020 and 2025.
The food & beverages industry strives to achieve high quality and consistent production at a low price. This can be achieved by making food & beverage plants more safe, flexible and profitable by choosing an integrated approach of automated safety control systems such as machine safety solutions. The segments growth is attributed to the high demand for safety equipment and stringent safety regulations in the food production and processing industry. As companies become more aware of rules—that are becoming more stringent—there is an increased demand for machine safety systems to achieve safe and efficient operations in food & beverage manufacturing plants.
The machine safety market in North America registered the highest share in 2018.
North America captured the largest share of the machine safety market in 2018 owing to the stringent regulations laid down in the US and Canada that are strictly followed across various process industries. The US is expected to hold the largest market, owing to the rising focus on workplace safety in the food & beverages, healthcare & pharmaceuticals, and chemicals industries. The region has stringent machine safety standards, which drive the markets growth. North American safety agencies OSHA and ANSI have also published machine safety guidelines, which have increased the adoption of machine safety systems and services in the region.
Major companies operating in this machine safety market include Schneider Electric (France), Honeywell International Inc. (US), Rockwell Automation, Inc. (US), Siemens (Germany), and ABB (Switzerland).
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