Machine Safety Market Size 2023 | Top Companies Overview, Trends and Opportunities 2028

How Big is the Machine Safety Market?

The global machine safety market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

What is Machine Safety?

Machine safety encompasses a set of measures, protocols, and technologies created to mitigate the risks associated with the operation of machinery and equipment. It involves the utilization of physical barriers, such as guards, shields, and safety interlocks, to prevent contact with moving parts or hazardous areas of machines. It aims to create a secure working environment where employees can work safely, reducing the likelihood of accidents and injuries. It addresses the design of workstations and equipment to reduce the dangers of repetitive strain injuries and musculoskeletal disorders among operators. It also ensures that software and control systems are designed with safety in mind, using techniques like redundancy and fail-safe mechanisms.

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What are the growth prospects and trends in the machine safety industry?

At present, the increasing focus on maintaining machine safety, as it reduces the risk of injuries and fatalities, ensuring the safety of employees within the working area represents one of the crucial factors impelling the growth of the market. Besides this, the rising implementation of machine safety to prevent the expenses of downtime caused by equipment failure is propelling the growth of the market. In addition, the growing adoption of Industry 4.0 technologies, including the Internet of Things (IoT) and automation, is offering a favorable market outlook. Apart from this, the increasing development of more sophisticated safety systems that can proactively identify and mitigate potential hazards is strengthening the growth of the market.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Implementation:
• Individual Components
• Embedded Components

Breakup by Component:
• Presence Sensing Safety Sensors
• Emergency Stop Devices
• Safety Interlock Switches
• Safety Controller/Modules/Relays
• Others

Breakup by End Use Industry:
• Automotive
• Electronics and Semiconductors
• Food and Beverages
• Healthcare and Pharmaceuticals
• Metals and Mining
• Oil and Gas
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Some of the Top Key players in the Machine Safety Market

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
Siemens AG

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This release was published on openPR.