The latest report by IMARC, titled “Machine Safety Market Report by Implementation (Individual Components, Embedded Components), Component (Presence Sensing Safety Sensors, Emergency Stop Devices, Safety Interlock Switches, Safety Controller/Modules/Relays, and Others), End Use Industry (Automotive, Electronics and Semiconductors, Food and Beverages, Healthcare and Pharmaceuticals, Metals and Mining, Oil and Gas, and Others), and Region 2024-2032”, finds that the global machine safety market reached a value of US$ 5.5 Billion in 2023. Machine safety refers to a system specially designed to perform control functions and maintain the safety of the machinery and individuals exposed to its installation, adjustment, operation, and maintenance. It helps increase efficiency, machine guarding, and reduce waste and costly mistakes. Some of the most commonly used safety devices include safety sensors, emergency stop devices, protective clothing, safety curtain lights, presence sensor devices and safety controllers, relays and modules. In recent years, machine safety has gained traction on account of its extensive employment in various industry verticals, such as automotive, food and beverage (F&B), manufacturing, healthcare, semiconductor, electronics, oil and gas, and power generation.
Global Machine Safety Market Trends:
One of the primary factors driving the market is the rising focus on industrial safety and proactive safety measures. Other than this, the increasing number of accidents in the workplace is positively influencing the market growth. Besides this, extensive investments in developing existing machinery to improve production capacity and the augmenting demand for industrial automation products are constantly accelerating the adoption of machine safety. Furthermore, key players are focusing on introducing innovative product variants to enhance machine safety, reliability, and efficiency. Moreover, governments of numerous nations and international organizations, such as the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), are introducing safety measures for machinery. Other major growth-inducing factors include the introduction of Industry 4.0, rising awareness about occupational safety among workers, rapid industrialization, extensive adoption of IoT solutions, and extensive research and development (R&D) activities. Looking forward, IMARC Group expects the market value to reach US$ 9.0 Billion by 2032, expanding at a CAGR of 5.5% during the forecast period (2024-2032).
Market Summary:
- Based on the implementation, the market has been bifurcated into individual and embedded components.
- On the basis of the component, the market has been divided into presence sensing safety sensors, emergency stop devices, safety interlock switches, safety controller/modules/relays, and others.
- Based on the end use industry, the market has been segmented into automotive, electronics and semiconductors, food and beverages (F&B), healthcare and pharmaceuticals, metals and mining, oil and gas, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being ABB Ltd., Banner Engineering Corp., Emerson Electric Co., Honeywell International Inc., IDEC Corporation, Keyence Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Pilz GmbH & Co. KG, Rockwell Automation Inc., Schneider Electric SE, Sick AG, and Siemens AG.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Implementation, Component, End Use Industry, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
ABB Ltd, Banner Engineering Corp., Emerson Electric Co., Honeywell International Inc., IDEC Corporation, Keyence Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Pilz GmbH & Co. KG, Rockwell Automation Inc., Schneider Electric SE, Sick AG and Siemens AG. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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