Press release
Rising Demand For Machine Safety Solutions Amid Stringent Safety Mandates: Key Factor Driving The Growth In The Machine Safety Market
Machine Safety
What Is the Expected Machine Safety Market Size During the Forecast Period?
The size of the machine safety market has seen substantial growth over recent years. Expansion is projected from $5.76 billion in 2024 to $6.26 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth during the historic period include heightened awareness of occupational hazards and accidents, a surge in industrial automation and manufacturing activities, the need for accident prevention and worker safety, concentration on employee health and welfare in the workplace, and strict enforcement of industrial safety regulations.
Expectations forecast a robust growth in the machine safety market in the coming years, with estimations projecting the market to reach $8.76 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. This predicted increase during the forecast period can be credited to the integration of machine safety systems with industrial IOT platforms, a rising demand for safety solutions powered by machine learning and AI, the broadening of robotics and collaborative robot (cobot) applications, an increased focus on human-machine cooperation and safety, and research advancements in next-gen safety devices and systems. Main forthcoming trends feature machine learning for safety prediction analysis, alarms and emergency stops, programmable saftey systems and safety PLCs, live-time safety incident monitoring and reports, and safety interlock switches in conjunction with lockout/tagout systems.
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What Are the High-Growth Segments in the Machine Safety Market?
The machine safety market covered in this report is segmented -
1) By Implementation: Individual Components, Embedded Components
2) By Component: Presence Sensing Safety Sensors, Safety Interlock Switches, Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls
3) By System: Assembly, Material Handling, Metal Working, Packaging, Robotics, Other Systems
4) By Industry: Oil And Gas, Energy And Power, Chemicals, Food And Beverages, Aerospace And Defense, Automotive, Semiconductor And Electronics, Healthcare And Pharmaceuticals, Metals And Mining, Other Industries
Subsegments:
1) By Individual Components: Safety Sensors, Safety Relays And Controllers, Emergency Stop Devices, Safety Switches And Interlocks
2) By Embedded Components: Integrated Safety Systems, Safety-Integrated Controllers, Embedded Safety Software, Functional Safety Modules
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What Key Drivers Are Expected to Influence Future Machine Safety Market Growth?
The prediction for the growth of the machine safety market in the forecast period can be attributed to stringent machine safety regulations. This has been triggered by the rise in workplace accidents and shortcomings in public safety management, prompting numerous governments and international bodies to demand for strict safety controls for machinery used on site. These safety regulations are designed to foster safer machinery usage and better safety management. As an example, The ADAS & Autonomous Vehicle International, a Germany-based news platform, reported in July 2024 that the New Vehicle General Safety Regulation (GSR2), or Regulation (EU) 2019/2144, has set new minimum performance criteria for motor vehicles within the EU. This law requires the inclusion of multiple advanced driver assistance systems (ADAS) such as Intelligent Speed Assist (ISA), Autonomous Emergency Braking (AEB), Driver Drowsiness and Attention Warning (DDAW), and Emergency Lane-Keeping Systems (ELKS). As a result, the rigorous machine safety regulations are believed to be boosting the machine safety market.
Which Companies Hold the Largest Share Across Different Machine Safety Market Segments?
Major companies operating in the machine safety market include ABB Group, Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Rockwell Automation Inc., Siemens AG, Mitsubishi Electric Corporation, Keyence Corporation, OMRON Corporation, SICK AG, B&R Industrial Automation GmbH, Pilz GmbH & Co. KG, IDEC Corporation, ISE Controls Pvt. Ltd., Banner Engineering Corp., Fortress Interlocks Ltd., Pepperl+Fuchs GmbH, STI GmbH, Hans Turck GmbH & Co. KG, Yokogawa Electric Corporation, Leuze electronic GmbH + Co. KG, Balluff GmbH, Datalogic S.p.A., Euchner-USA Inc., Schmersal Group, Wieland Electric GmbH
What Trends Are Driving Growth in The Machine Safety Market?
Prominent businesses in the machine safety market emphasize the development of machine safety websites to boost resource accessibility, offer illustrative training content, simplify compliance paperwork, and promote instant interaction among manufacturers. These websites are online avenues developed to supply information, tools, and resources concerning machine safety practices and adherence rules. They provide customized machine guarding solutions, made to fit the specific requirements of each client and their equipment, instead of having to depend on generic solutions. For example, Machine & Process Safety Assessment Group, a company based in the US, launched a machine safety website, mpsasafety.com, in March 2022. MPSA offers detailed machine stop-time analytics, which are vital for effectively setting up safety systems like light curtains. MPSA supports a dedicated team of engineers capable of designing novel safety answers or upgrading existing systems, which is advantageous when original plans are not available.
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What Are the Emerging Geographies for The Machine Safety Market Growth?
Western Europe was the largest region in the machine safety market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine safety market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Machine Safety Market?
2. What is the CAGR expected in the Machine Safety Market?
3. What Are the Key Innovations Transforming the Machine Safety Industry?
4. Which Region Is Leading the Machine Safety Market?
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