The increase in accidents at the workplace is leading to be the major threats for the industry reputation of the firms. Industries are focusing on implementing machine safety measures, owing to life-threatening injuries to the personnel working near machines. Industries are concentrating on delivering security to the workers by the implementation of machine safety equipment, and also maintaining the safety of the machinery.
The "Global Machine Safety Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the machine safety market with detailed market segmentation by component, application, industry, and geography. The report provides key statistics on the market status of the leading machine safety market players and offers key trends and opportunities in the market.
- Based on component, the global machine safety market is segmented presence-sensing safety sensors, safety controllers modules relays, programmable safety systems, safety interlock switches, emergency stop devices, and others.
- On the basis of application, the market is segmented into material handling, metal working, packaging, robotics and others.
- Based on industry, the market is segmented into oil and gas, chemicals, aerospace, semiconductor and electronics, food and beverages, automotive, helathcare, and others.
- The growing emphasis on proactive safety and industrial safety measures, an increasing number of accidents in companies, growing demand for presence-sensing safety devices, and mandatory safety standards and government policies are propelling the growth of the market.
- Moreover, emerging industrial revolution 4.0 and the development of innovative and advanced safety light curtains with digital indicators are expected to provide significant opportunities for the machine safety market in the forecast period
- The increasing complexity in safety-based hardware and software designs is anticipated to hamper the growth of the machine safety market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The machine safety market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the machine safety market in these regions.
IMPACT OF COVID-19 ON MACHINE SAFETY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the machine safety market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from machine safety market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the machine safety market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- Banner Engineering Corp.
- Honeywell International Inc.
- IDEC CORPORATION
- KEYENCE CORPORATION
- OMRON CORPORATION
- ROCKWELL AUTOMATION, INC.
- SCHNEIDER ELECTRIC SE
- SICK AG
- SIEMENS AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.