The machine safety market is expected to be valued at USD 4.37 Billion in 2018 and is likely to reach USD 6.58 Billion by 2025, at a CAGR of 6.0% between 2018 and 2025.
Northbrook, IL -- (SBWIRE) -- 06/14/2018 -- According to the new market research report "Machine Safety Market by Component (Safety Sensors, Safety PLCs, Safety Modules/Controllers/Relays, and E-Stop Devices), Implementation, Application (Assembly, Material Handling, Packaging, Robotics), Industry, and Region - Global Forecast to 2025" the machine safety market is expected to grow from USD 4.37 Billion in 2018 to USD 6.58 Billion by 2025, at a CAGR of 6.0% between 2018 and 2025. Growing emphasis on industrial safety and proactive safety measures, rising number of accidents in industries, mandatory safety standards and government policies, and increasing demand for presence-sensing safety devices are driving the growth of the machine safety market.
Browse 70 market data Tables and 51 Figures spread through 168 Pages and in-depth TOC on "Machine Safety Market - Global Forecast to 2025"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=1188
Early buyers will receive 10% customization on reports.
Presence-sensing safety sensors held the largest size of the machine safety market in 2017
Presence-sensing safety sensors held the largest size, in terms of value, of the machine safety in 2017. Presence-sensing safety sensors used in safety systems are developed and designed to ensure a safe output based on logic if a signal transmission does not occur. Safety sensors play an important role in implementing machine safety solutions in various industrial applications. Presence-sensing safety devices are suitable for applications in which personnel need frequent and safe access to critical areas near robotic welding, stamping, hydraulic presses, filter presses, or packaging equipment. These safety sensors are often preferred over physical guards as these devices allow easier access for loading parts or for routine maintenance, thereby increasing productivity.
Robotics applications to hold the largest size of the market between 2018 and 2025
Safety is important in the robotics industry. Robotics applications hold the largest share of the machine safety market, and a similar trend is likely to continue between 2018 and 2025. Industrial robots are programmable mechanical machines that are used for moving parts, components, materials, and tools. Machine safety functions such as controlling, limiting, and positioning are a must for automated robotic processes. Machine safety products sense emergency situations and stop robots from making and damaging products or harming operators. Thus, the market for robotics applications is expected to grow at a considerable rate during the forecast period.
Automotive industry held the largest size of the machine safety market in 2017
The automotive industry held the largest size of the machine safety market in 2017. The rising demand for automobiles owing to the increase in population with purchasing power worldwide and the feasibility of easy loans is driving the growth of the market for the automotive industry. The development of environmentally friendly electric vehicles has led to the creation of a new segment of automobiles. Automotive companies focus on automation to address the fast-changing consumer needs in various markets worldwide. The rising adoption of machine safety systems, such as safety light curtains, safety switches, emergency stop devices, and safety sensors, for assembly, presses, and material handling applications in the automotive industry is driving the growth of the machine safety market for the automotive industry.
Europe to hold the largest size of the machine safety market between 2018 and 2025
Europe is expected to hold the largest size of the machine safety market throughout the forecast period. The presence of automotive manufacturers and increasing automation in the automotive industry in Europe support the growth of the machine safety market in this region. Manufacturing process in the automotive industry is complex; it requires safety measures to ensure the safety of personnel as well as machines for the smooth functioning of the industry. In addition, machine and industrial safety measures are strictly followed under various regulatory standards in Europe. Countries in this region are continuously focusing on automating discrete and process industries, along with maintaining high safety standards ensuring the safety of workers in these industries. Due to these factors, Europe is expected to hold the largest share of the machine safety market throughout the forecast period.
The machine safety market was dominated by players such as Rockwell (US), Pilz (Germany), Schneider (France), SICK (Germany), and Mitsubishi Electric (Japan), ABB (Switzerland), Honeywell (US), KA Schmersal (Germany), and Omron (Japan).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441