Machine Safety Market 2018 – Global Forecast to 2023, research report added by “Market Research Future”, Machine Safety Market shows rapid growth at 6.88% CAGR for the forecast period of 2018 to 2023. Global Machine Safety Market is segmented by Components (Safety Sensors, Controllers, Others), Implementation (Individual and Embedded Components), Application (Assembly, Robotics, Others), Industry (Oil & Gas, Chemicals, Others) — Forecast till 2023

Market Highlights:

Machine Safety refers to the devices used to safeguard workers against the hazards around machinery and equipment.  There are numerous potential hazards around machinery and equipment in an industry, such as cutting edges, chains, gears, revolving shafts, and rotating blades and levers among others. These hazards can result in injuries & accidents, sickness and even death. Many of these accidents are caused by human error and hence, safeguarding a worker’s life is at utmost priority in any industry or manufacturing unit.

As a result, companies are more inclined to adopt safety systems. The high adoption of machine safety systems is a key driving force that defines the growing market landscape of machine safety.  Besides technological advancements that have brought about improvements in safety devices such as safety light curtains with the integration digital indicators have escalated the market growth globally.

Acknowledging the kind of growth the market is garnering currently; Market Research Future (MRFR) in its recently published study report asserts that the global machine safety market will garner a value of approximately 6.48  Bn. USD by 2023, registering about 6.88% CAGR throughout the forecast period (2018 and 2023).

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Major Key Players

• Honeywell (US),
• Rockwell (US),
• SICK (Germany),
• Schneider (France),
• ABB (Switzerland),
• Mitsubishi Electric (Japan),
• Keyence (Japan),
• Pilz (Germany),
• Banner Engineering (US),
• Pepperl + Fuchs (Germany),
• Euchner (Germany),
• Phoenix Contact (Germany),
• Datalogic (Italy),
• IDEC Corporation (Japan),
• Omron (Japan).

According to MRFR, The global Machine Safety Market is expected to reach approximately USD 6.48 billion by 2023 growing at a 6.88% CAGR over the forecast period 2018–2023

Competitive Landscape

Highly competitive by nature, the global machine safety market appears to be fragmented due to the presence of many players. Key strategies traced from the analysis of recent developments of the market players include agreement & partnership, acquisition expansion, and product launch. These key players strive to deliver comprehensive safety solutions with adept technology and features. Growth in terms of product innovations and technologies in the market are also expected to create strong investment opportunities for the global players.

Segmentation:

The analysis has been segmented into five key dynamics for the better scope: –

By Components: Presence-Sensing Safety Sensors, Programmable Safety Systems, Safety Controllers/ Modules/Relays, Emergency Stop Devices, Safety Interlock Switches, And Two-Hand Safety Controls among others.

By Implementation : Individual and Embedded Components.

By Application: Assembly, Robotics, Material Handling, Packaging, and Metalworking among others.

By Industry: Oil & Gas, Chemicals, Aerospace, Food & Beverages, Healthcare, Semiconductor & Electronics, and Automotive, among others.

By Regions:  North America, Europe, APAC and the Rest-of-the-World.

Regional Analysis

Globally, the European region accounts for the largest market for machine safety being a leading player in the automation. Factors such as the burgeoning manufacturing sector drive the market growth in the region. Implementation of the legislation governing the machine safety requirements in Europe such as Machinery Directive 2006/45/EU support the market growth.   Machinery Directive 2006/45/EUis a mandatory directive, which ensures the protection of machines and workers in various organizations.

The North American machine safety market is another lucrative and substantially large market in terms of both, size and volume. Factors such as the growing uptake of advanced technologies and the growing demand for safety features drive the growth of the market in the region. Well-established Industries in this region create opportunities for the market to grow colossally during the review period.The US among other North American countries accounts for the dominating market in the region.  Furthermore, the presence of prominent players drives the growth of the machine safety market in the region.

The Asia Pacific region is emerging as one of the promising markets for machine safety due to continuous growth in technologies and the presence of several manufacturers.  China is one of the significant markets in the region.  Increasing awareness about technological developments is a key driving force driving the demand in the APAC market.

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Target Audience

• Designers and manufacturers of machine safety systems
• Machine safety software providers
• Research organizations, associations, and consulting companies
• Technology consultants
• System integrators of machine safety systems
• Material handling and automation organizations
• Machine safety component providers
• System integrators

List of Tables

Table 1 Machine Safety Market: By Region, 2018-2023

Table 2 North America Machine Safety Market: By Country, 2018-2023

Table 3 Europe Machine Safety Market: By Country, 2018-2023

Table 4 Asia Pacific Machine Safety Market: By Country, 2018-2023

Table 5 The Middle East & Africa Machine Safety Market: By Country, 2018-2023

Continued…

For More Information Visit @

http://www.digitaljournal.com/pr/4046078

https://www.marketwatch.com/press-release/machine-safety-market-2018-global-industry-share-size-key-players-trends-competitive-and-regional-forecast-to-2023-2018-12-17

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