Machine Safety Market

Machine Safety Market by Component (Presence detection Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls), Offering, Industry and Region - Global Forecast to 2029

Report Code: SE 2053 Jan, 2024, by marketsandmarkets.com

Machine Safety Market

Machine Safety Market and Top Machine Guarding Companies

  • Schneider Electric offers a diversified machine safety solutions under its Industrial Automation business segment. The company provides SIL 3 function safety solutions that ensure the fail-safe performance of controllers for energize-to-trip and de-energize-to-trip applications. Triconex, a brand of Schneider Electric, provides Trident safety instrumented systems with SIL 3 certification. These safety systems feature high scalability, with applications as low as 32 I/O points per system to as high as 40,000 I/O points. Schneider Electric has a strong portfolio of machine safety-certified emergency stop devices and safety instrumented systems.
  • Honeywell offers a wide range of solutions related to machine safety through its Safety and Productivity segment. The company offers safety systems and solutions such as integrated control and safety systems, distributed control systems, control monitoring and safety systems, and industrial wireless solutions in the control, monitoring, and safety systems category. The company has recently launched various products to diversify its machine safety product portfolio. The launches are a result of extensive R&D conducted by the company.
  • ABB is one of the leader in power and automation technology companies. It focuses on increasing profitability by strengthening competitiveness, driving organic growth, and lowering risks. ABB has launched the innovation & expansion plan (PIE) to drive profitable growth for its businesses. The company is primarily focusing on organic growth through product launches and developments and expansion of its safety product portfolio.
  • Siemens is mainly engaged in the electrical engineering and electronics business. The company is a leading supplier of power transmission, power generation, and infrastructure solutions, coupled with automation, drive, and software solutions. Company provides machine safety-certified SIL-rated products for pressure, temperature, flow, and level measurements for both process and factory automation. It has also launched various innovative machine safety solutions. Safety technology products offered by the company comply with the latest safety standards and have been certified for international applicability. The SIRIUS portfolio of the company features 2 safe evaluation devices—safety relays and modular safety systems.
  • Rockwell Automation is a leading provider of industrial automation and information solutions. The company offers a diverse set of products and services, including industrial control components, information software, sensing devices, and industrial security solutions. Rockwell Automation offers machine safety solutions through its Control Products & Solutions segment. The company offers machine safety products such as safety connection systems, safety drives, safety I/O modules, emergency stop devices, presence sensing safety devices, safety programmable controllers, safety relays, and safety switches.

Machine Safety Market Component


  • Presense Sensing Safety Sensors: Sensor deployed in a safety system are developed and designed to ensure a safe output based on the signals received from the logic circuits. Safety edges, laser scanners, safety light curtains, safety mats, and optoelectronic devices (including hand detection and single & multi-beam) are some of the types of presence sensing sensors.
  • Programmable safety systems: Programmable safety systems are highly reliable logic solvers, which provide both fail-safe and fault-tolerant operations. The market for programmable safety systems is anticipated to grow at a fast rate in the coming years as manufacturers are replacing the existing systems with PLCs to comply with strict machine safety regulatory standards. Programmable safety systems are an integral part of safety instrumented systems.
  • Safety controllers/modules/relays: Numerous safety devices in machine safety require safety controllers/modules/relays to shut down equipment in case of any emergency. Safety relays are devices that implement safety functions. It provides the means to effectively and quickly remove power from machines or equipment in case of an emergency shutdown situation, thereby reducing risks to an acceptable level.
  • Safety interlock switches: Safety interlock switches are designed to protect operators and equipment in automation plants. Electromechanical, hinge pin, limit, non-contact, tongue, and trapped key are the different types of safety interlock switches. These components are intended to protect equipment and end users from injuries during critical situations. They prevent the restart of a shutdown piece of equipment until the fault that caused the shutdown is corrected.
  • Emergency stop controls: Emergency stop controls are crucial elements of the safety-related parts of control systems. These devices provide workers a means of stopping a device during an emergency by pushing a button or pulling a rope. The different types of emergency stop devices include emergency stop buttons, rope pull switches, and flush mount E-stops.

Machine Safety Market Technology Trends


  • Computer Vision: Computer vision helps in automating production processes by controlling different devices. The use of computer vision increases efficiency as it eliminates the requirement of workers in hazardous areas. For example, in the packaging process, computer vision, with the help of barcodes, analyzes products, classifies them, and packages them.
  • Internet of Things (IoT): The use of IoT enables analysis of workplace conditions and helps in keeping workers safer and healthy. IoT analyzes the exposure of workers in hazardous conditions and determines the acceptable limit for exposure levels. Compliance with regulations can be maintained with the help of IoT by monitoring compliance requirements and ensuring its adherence. With the help machine learning algorithm, IoT analyzes data, and checks the pattern of work performed in the plant.
  • Machine Learning: The use of automated machine learning in terms of providing safety to workers and machines is currently trending in the industrial sector. It eliminates the need for any worker in hazardous areas for detecting errors and notifying the user of any abnormalities in the functioning. This helps in reducing processing time and provides safety in the plant.

Updated on : May 30, 2023

The global Machine safety market size is expected to grow from USD 5.4 billion in 2024 to USD 7.0 billion by 2029, registering a CAGR of 5.4%.

The machine safety market is thriving due to heightened workplace safety awareness, stringent regulatory compliance, and widespread integration of automation technologies across global industries, fostering substantial growth.

Machine Safety Market

Machine Safety Market

Machine Safety Market Forecast to 2029

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Market Dynamics

Driver: Adoption of automation to improve efficiency and productivity

Industrial automation has significantly increased in recent years to achieve cost savings, quality control, etc. Industrial automation, which includes the deployment of advanced technologies such as robotics, artificial intelligence, and machine learning, also helps companies increase plant efficiency and productivity by automating repetitive tasks and reducing errors. Automated systems can work faster and more accurately than human operators, which helps reduce production time and cost and increase output. However, automation also introduces new risks, as machines and equipment can become hazardous if not properly designed, installed, and maintained. The quantity and complexity of machinery and equipment used in manufacturing, production, and other sectors will rise as industrial automation advances. As a result, there will be an increase in the need for machine safety products and services to safeguard people and equipment from possible risks. Technological advancements enable the creation of increasingly complex and sophisticated safety solutions, such as machine vision systems, safety sensors, and safety controllers. These solutions can increase machine and equipment safety and productivity, and efficiency. Hence, machine safety is critical in industrial automation because it assures equipment safety. Thus, increased industrial automation will almost certainly contribute to development in the machine safety industry.

Restraint: Complexities associated with machine safety systems

One of the major factors hindering the growth of the machine safety market is the lack of awareness about the advantages of using these systems. Emerging economies are still unaware of the availability of safety devices that can safeguard machinery and labor. Most manufacturers do not appoint safety experts who advise adopting the safety devices necessary for each machine or process. Secondly, even if end users know the benefits of safety devices, development and integration-related complexities restrict their implementation. Certified and trained mechanical, electronics, and software engineers and industrial safety management professionals must work cohesively to design robust safety management devices. The challenge is further augmented while installing and validating the system. Ensuring that the system fully meets the safety integrity level (SIL) requirements is critical. Additionally, setting systems at appropriate performance standards to achieve potential economic benefits is highly important. Apart from environmental benefits, deploying these systems can have long-term gains, such as reduced operational expenses and process downtime. However, these systems require careful documentation, design, operation, maintenance, and testing to ensure compliance with standards.

Opportunity: Increasing awareness about workplace safety standards in emerging economies

Developed countries, such as the US, the UK, France, Australia, Japan, and the Netherlands, have adopted workplace safety standards formulated by local and international regulatory bodies. Governments of these countries have implemented stringent laws for industries violating human and equipment safety norms. However, emerging economies are still lagging in terms of the adoption of machine safety systems. It is imperative to note that the manufacturing sector in countries such as South Korea, India, and China has expanded over the past few years due to labor’s cheap and easy availability. Although awareness regarding occupational safety in these countries is limited, worker unions have recently staged protests to adopt safety standards in industries. Thus, developing countries exhibit heightened adoption of machine safety systems, likely to push market growth in the coming years. The Human Development Index (HDI) and the demands of worker unions for improved safety at workplaces have propelled the adoption of safety systems in both emerging and developed countries.

Asia Pacific is considered one of the fastest-growing economies. Countries in this region focus on large-scale industrial manufacturing and, thus, have many manufacturing plants for almost all major companies worldwide. Countries such as China, India, Japan, South Korea, Australia, and Indonesia are rapidly expanding their manufacturing output. China is considered one of the world's biggest manufacturing countries, thereby driving the growth of the manufacturing sector in Asia Pacific. Various multinational companies have set up their regional manufacturing plants and are adopting higher safety standards, leading to increased demand for safety systems.

Challenge: Failure to assess and anticipate all potential risks associated with machinery setup

Establishing comprehensive machine guarding involves conducting a risk assessment that incorporates insights from various stakeholders, including guard designers, machine operators, maintenance personnel, supervisors, engineers, safety professionals, machine guarding experts, and representatives from the original equipment manufacturer (OEM). It is challenging for a designer to independently anticipate all potential hazards associated with equipment setup, operation, inspection, and maintenance. In situations where workers need access to areas within machine guards, meticulous planning and execution become essential. Even with initial risk assessment efforts, there is a potential oversight of crucial requirements related to the design and performance of interlock devices and monitoring components, such as relays and safety-rated programmable logic controllers. These components play a crucial role in ensuring protection when implementing alternative safeguarding measures.

Machine Safety Market Ecosystem

The figure below shows the Machine safety ecosystem.

Machine Safety Market by Ecosystem

Systems of Machine safety holds the largest market share in the year 2023.

The rapid growth of machine safety systems is evident in the integration of advanced technologies like sensors, artificial intelligence, and automation. These systems play a crucial role in safeguarding industrial environments by continuously monitoring and responding to potential hazards. The increasing emphasis on worker well-being, stringent safety regulations, and the continuous evolution of safety technologies contribute to the expanding adoption of machine safety systems across various industries globally.

Presence Detection sensors segment to hold largest market share in 2023.

The presence detection sensors market is experiencing notable growth attributed to increasing demand for automation and smart technologies. These sensors, vital in industrial and commercial applications, detect the presence or absence of objects and humans. The surge in smart building solutions, industrial automation, and the need for contactless technologies post-pandemic contribute to the market's expansion. Ongoing innovations and the integration of presence detection sensors in diverse sectors further fuel this growth, marking a significant upward trajectory for the market.

Food & Beverages is expected to register highest CAGR during the forecast period

The food and beverages industry is undergoing substantial growth globally. Factors driving this expansion include evolving consumer preferences, increased demand for healthier options, and the rise of innovative products. Additionally, globalization and changing lifestyles contribute to the industry's dynamism. Continuous product innovation, efficient supply chains, and an emphasis on sustainability further propel the growth of the food and beverages sector in diverse markets.

North America to hold largest market share in the year 2023

The machine safety market in North America is on a robust growth trajectory. This surge is propelled by stringent regulatory frameworks emphasizing workplace safety, increased awareness among industries, and a rising adoption of advanced automation technologies. The region's commitment to enhancing worker safety and the continuous integration of cutting-edge safety solutions contribute to the sustained expansion of the machine safety market in North America.

Machine Safety Market
 by Region

Machine Safety Market by Region

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Top Machine Safety Companies -
Key Market Players

The Machine safety companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market are Schneider Electric (France), Honeywell International, Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), General Electric (US), Mitsubishi Electric Corporation (Japan), Sick AG (Germany), HIMA (Germany), and IDEC Corporation (Japan)

The study includes an in-depth competitive analysis of these key players in the Machine safety market with their company profiles, recent developments, and key market strategies.

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Scope of the Report

Report Metric

Details

Estimated Market Size

5.4 billion

Projected Market Size

7.0 billion

Growth Rate

5.4%

Years Considered

2020–2029

Base Year Considered

2023

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Segments Covered

By Offerings, By Component, By Process Industry, By Discrete Industry and By Region

Regions Covered

North America, Asia Pacific, Europe, and the Rest of the World

Companies Covered

Schneider Electric (France), Honeywell International, Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), General Electric (US), Mitsubishi Electric Corporation (Japan), Sick AG (Germany), HIMA (Germany), and IDEC Corporation (Japan) and a total of 25 players covered

Machine Safety Market Highlights

This report has segmented the Machine safety market based on Offerings, Component and Industry and Region.

Segment

Subsegment

By Offerings

  • Systems
  • Sensors

By Components

  • Presence detection Sensors
  • Safety Controllers/Modules/Relays
  • Programmable Safety Systems
  • Safety Interlock Switches
  • Emergency Stop Controls
  • Two-Hand Safety Controls

By Process Industry

  • Chemicals
  • Food & Beverages
  • Metals & Mining
  • Oil & Gas
  • Pharmaceuticals
  • Power Generation
  • Others

By Discrete Industry

  • Aerospace
  • Automotive
  • Semiconductor & Electronics
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World
    • GCC
    • Africa & Rest of the Middle East
    • South America

Recent Developments:

  • In June 2023, Schneider Electric, at the forefront of digitally transforming energy management and automation, unveiled an updated edition of its primary Square D safety switch, the VisiPacT heavy-duty safety switch. This latest release introduces fresh functionalities and a revitalized design to enhance the reliability of the existing offering.
  • In January 2023, Siemens launched two new aspirating smoke detectors (ASD): FDA261 and FDA262. The biggest coverage area currently offered on the market is 6,700 m2, which can be covered by one smoke detector. A single ASD+ detector can provide up to 2,000 m2 of detection coverage, even for Class A installations with the strictest sensitivity requirements. With the new ASD Connect app, digital commissioning is quick and simple. It significantly automates and simplifies the commissioning procedure.
  • In August 2023, Yokogawa Electric Corporation will upgrade the Collaborative Information Server, part of the OpreX™ Control and Safety System, to enhance alarm management, access to maintenance data, and support for international communication standards.

Frequently Asked Questions(FAQs):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 32)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 LIMITATIONS 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
           1.7.1 RECESSION IMPACT ANALYSIS
 
2 RESEARCH METHODOLOGY (Page No. - 36)
    2.1 RESEARCH DATA 
           FIGURE 1 RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primary interviews
                    2.1.2.2 Key data from primary sources
           2.1.3 PRIMARY AND SECONDARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 2 REVENUE GENERATED BY COMPANIES IN MACHINE SAFETY MARKET
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to arrive at market size using bottom-up analysis (supply-side)
                               FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to arrive at market size using top-down analysis (demand-side)
                               FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
           FIGURE 5 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
           FIGURE 6 RESEARCH ASSUMPTIONS
    2.5 IMPACT ANALYSIS OF RECESSION ON MACHINE SAFETY MARKET 
    2.6 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 47)
    FIGURE 7 SYSTEMS TO HOLD LARGEST MARKET SHARE IN 2024
    FIGURE 8 PROGRAMMABLE SAFETY SYSTEMS TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD
    FIGURE 9 PROCESS INDUSTRIES TO SECURE LEADING MARKET POSITION DURING FORECAST PERIOD
    FIGURE 10 FOOD & BEVERAGE TO BE LARGEST PROCESS INDUSTRY DURING FORECAST PERIOD
    FIGURE 11 AEROSPACE TO BE LARGEST DISCRETE INDUSTRY DURING FORECAST PERIOD
    FIGURE 12 ASIA PACIFIC TO BE FASTEST-GROWING REGION DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MACHINE SAFETY MARKET 
           FIGURE 13 SURGE IN INDUSTRIAL AUTOMATION TO DRIVE GROWTH
    4.2 MACHINE SAFETY MARKET, BY OFFERING 
           FIGURE 14 SYSTEMS TO SURPASS SENSORS DURING FORECAST PERIOD
    4.3 MACHINE SAFETY MARKET, BY COMPONENT 
           FIGURE 15 PRESENCE DETECTION SENSORS TO BE LARGEST SEGMENT DURING FORECAST PERIOD
    4.4 MARKET, BY INDUSTRY 
           FIGURE 16 PROCESS INDUSTRIES TO EXHIBIT FASTEST GROWTH DURING FORECAST PERIOD
    4.5 MARKET, BY COUNTRY 
           FIGURE 17 INDIA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 54)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 18 MACHINE SAFETY MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Focus of industrial sector on personnel and asset protection
                    5.2.1.2 Enforcement of stringent machinery and equipment safety regulations
                    5.2.1.3 Adoption of automation to improve efficiency and productivity
                               FIGURE 19 MACHINE SAFETY MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 Huge capital requirement for installing and automating machine safety systems
                    5.2.2.2 Complexities associated with machine safety systems
                               FIGURE 20 MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing awareness about workplace safety standards in emerging economies
                    5.2.3.2 Rising use of IIoT to ensure improved performance and prolonged lifespan of industrial assets
                               FIGURE 21 MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Difficulties in designing machine safety products due to continuous technological advancements
                    5.2.4.2 Failure to assess potential risks associated with machinery setup
                               FIGURE 22 MACHINE SAFETY MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 SUPPLY CHAIN ANALYSIS 
           FIGURE 23 SUPPLY CHAIN ANALYSIS
           5.3.1 RAW MATERIAL PROVIDERS
           5.3.2 COMPONENT MANUFACTURERS
           5.3.3 SYSTEM INTEGRATORS
           5.3.4 DISTRIBUTORS AND RETAILERS
           5.3.5 END USERS
           5.3.6 POST-SALES SERVICE PROVIDERS
    5.4 ECOSYSTEM MAPPING 
           FIGURE 24 ECOSYSTEM MAPPING
           TABLE 1 ROLE OF COMPANIES IN ECOSYSTEM
    5.5 PRICING ANALYSIS 
           TABLE 2 AVERAGE SELLING PRICE OF MACHINE SAFETY COMPONENTS OFFERED BY KEY PLAYERS (USD)
           FIGURE 25 AVERAGE SELLING PRICE OF MACHINE SAFETY COMPONENTS OFFERED BY KEY PLAYERS (USD)
           FIGURE 26 AVERAGE SELLING PRICE OF MACHINE SAFETY SYSTEMS, 2023–2028 (USD)
           TABLE 3 AVERAGE SELLING PRICE OF MACHINE SAFETY SYSTEMS, BY REGION (USD)
    5.6 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 27 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    5.7 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 28 PORTER’S FIVE FORCES ANALYSIS
           TABLE 4 PORTER’S FIVE FORCES ANALYSIS
           5.7.1 THREAT OF NEW ENTRANTS
           5.7.2 THREAT OF SUBSTITUTES
           5.7.3 BARGAINING POWER OF SUPPLIERS
           5.7.4 BARGAINING POWER OF BUYERS
           5.7.5 INTENSITY OF COMPETITIVE RIVALRY
    5.8 CASE STUDIES 
           5.8.1 ELOPAK INSTALLS ASEPTIC FILLING MACHINE FOR GABLE TOP PACKAGING WITH ROBUST PNEUMATICS FROM EMERSON AVENTICS
           5.8.2 MP EQUIPMENT COLLABORATES WITH ROCKWELL AUTOMATION SAFETY CONSULTANTS TO RE-EVALUATE PROTEIN PORTIONING MACHINE DESIGN
           5.8.3 MOLLART ENGINEERING SELECTS PROCTER MACHINE SAFETY’S ENCLOSED GUARDS TO INSTALL IN ITS MACHINE TOOLS
    5.9 TECHNOLOGY TRENDS 
           5.9.1 COMPUTER VISION
           5.9.2 AUTOMATED MACHINE LEARNING (AUTOML)
           5.9.3 INTERNET OF THINGS (IOT)
           5.9.4 VIRTUAL REALITY (VR)
    5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.10.1 STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF MACHINE SAFETY SYSTEMS, BY INDUSTRY
                    TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF MACHINE SAFETY SYSTEMS, BY INDUSTRY (%)
           5.10.2 BUYING CRITERIA
                    FIGURE 30 BUYING CRITERIA FOR MACHINE SAFETY SYSTEMS, BY INDUSTRY
                    TABLE 6 BUYING CRITERIA FOR MACHINE SAFETY SYSTEMS, BY INDUSTRY
    5.11 TRADE ANALYSIS 
           FIGURE 31 IMPORT DATA FOR HS CODE 8536, BY COUNTRY, 2018–2022 (USD MILLION)
           FIGURE 32 EXPORT DATA FOR HS CODE 8536, BY COUNTRY, 2018–2022 (USD MILLION)
    5.12 PATENT ANALYSIS 
           FIGURE 33 TOP PATENT APPLICANTS, 2014–2023
           FIGURE 34 NUMBER OF PATENTS PUBLISHED, 2014–2023
           TABLE 7 TOP PATENT OWNERS, 2014–2023
           TABLE 8 PATENT ANALYSIS
    5.13 KEY CONFERENCES AND EVENTS, 2024–2025 
           TABLE 9 KEY CONFERENCES AND EVENTS, 2024–2025
    5.14 STANDARDS RELATED TO MACHINE SAFETY 
           5.14.1 IEC 61508
           5.14.2 IEC 61511
           5.14.3 IEC 62061
    5.15 REGULATORY LANDSCAPE 
           TABLE 10 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 11 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 12 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           TABLE 13 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
6 MACHINE SAFETY MARKET, BY IMPLEMENTATION (Page No. - 81)
    6.1 INTRODUCTION 
           FIGURE 35 MACHINE SAFETY MARKET, BY IMPLEMENTATION
    6.2 INDIVIDUAL 
    6.3 EMBEDDED 
 
7 MACHINE SAFETY MARKET, BY SALES CHANNEL (Page No. - 82)
    7.1 INTRODUCTION 
           FIGURE 36 MACHINE SAFETY MARKET, BY SALES CHANNEL
    7.2 DIRECT 
    7.3 INDIRECT 
 
8 MACHINE SAFETY MARKET, BY APPLICATION (Page No. - 83)
    8.1 INTRODUCTION 
           FIGURE 37 MACHINE SAFETY MARKET, BY APPLICATION
    8.2 ASSEMBLY 
    8.3 ROBOTICS 
    8.4 PACKAGING 
    8.5 MATERIAL HANDLING 
    8.6 METALWORKING 
    8.7 WELDING & SHIELDING 
 
9 MACHINE SAFETY MARKET, BY OFFERING (Page No. - 86)
    9.1 INTRODUCTION 
           FIGURE 38 MACHINE SAFETY MARKET, BY OFFERING
           FIGURE 39 SYSTEMS TO DOMINATE MARKET DURING FORECAST PERIOD
           TABLE 14 MARKET, BY OFFERING, 2020–2023 (USD MILLION)
           TABLE 15 MARKET, BY OFFERING, 2024–2029 (USD MILLION)
    9.2 SYSTEMS 
           9.2.1 COMPLIANCE WITH STRINGENT SAFETY STANDARDS TO DRIVE GROWTH
    9.3 SENSORS 
           9.3.1 ADVANCEMENTS IN TECHNOLOGY TO DRIVE GROWTH
 
10 MACHINE SAFETY MARKET, BY COMPONENT (Page No. - 89)
     10.1 INTRODUCTION 
             FIGURE 40 MACHINE SAFETY MARKET, BY COMPONENT
             FIGURE 41 PRESENCE DETECTION SENSORS TO DOMINATE MARKET DURING FORECAST PERIOD
             TABLE 16 MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
             TABLE 17 MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
             TABLE 18 MARKET, BY COMPONENT, 2020–2023 (THOUSAND UNITS)
             TABLE 19 MARKET, BY COMPONENT, 2024–2029 (THOUSAND UNITS)
     10.2 PRESENCE DETECTION SENSORS 
             10.2.1 ADVENT OF INDUSTRY 4.0 AND INDUSTRIAL INTERNET OF THINGS TO DRIVE GROWTH
                        TABLE 20 PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 21 PRESENCE DETECTION SENSORS: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 22 PRESENCE DETECTION SENSORS: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 23 PRESENCE DETECTION SENSORS: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 24 PRESENCE DETECTION SENSORS: MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 25 PRESENCE DETECTION SENSORS: MARKET, BY REGION, 2024–2029 (USD MILLION)
                        10.2.1.1 Safety edges
                        10.2.1.2 Laser scanners
                        10.2.1.3 Safety light curtains
                                     10.2.1.3.1 Light-emitting diodes (LEDs)
                                     10.2.1.3.2 Photoelectric cells
                                     10.2.1.3.3 Control units
                                     10.2.1.3.4 Displays
                                     10.2.1.3.5 Enclosures
                        10.2.1.4 Safety mats
                        10.2.1.5 Other devices
     10.3 PROGRAMMABLE SAFETY SYSTEMS 
             10.3.1 RISING ADOPTION OF PROGRAMMABLE LOGIC CONTROLLERS TO DRIVE GROWTH
                        TABLE 26 PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 27 PROGRAMMABLE SAFETY SYSTEMS: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 28 PROGRAMMABLE SAFETY SYSTEMS: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 29 PROGRAMMABLE SAFETY SYSTEMS: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 30 PROGRAMMABLE SAFETY SYSTEMS: MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 31 PROGRAMMABLE SAFETY SYSTEMS: MARKET, BY REGION, 2024–2029 (USD MILLION)
     10.4 SAFETY CONTROLLERS/MODULES/RELAYS 
             10.4.1 EXPANDING PRODUCT PORTFOLIO OF MANUFACTURING COMPANIES TO DRIVE GROWTH
                        TABLE 32 SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 33 SAFETY CONTROLLERS/MODULES/RELAYS: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 34 SAFETY CONTROLLERS/MODULES/RELAYS: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 35 SAFETY CONTROLLERS/MODULES/RELAYS: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 36 SAFETY CONTROLLERS/MODULES/RELAYS: MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 37 SAFETY CONTROLLERS/MODULES/RELAYS: MARKET, BY REGION, 2024–2029 (USD MILLION)
     10.5 SAFETY INTERLOCK SWITCHES 
             10.5.1 GOVERNMENT INTERVENTION FOR EQUIPMENT AND PERSONNEL SAFETY TO DRIVE GROWTH
                        10.5.1.1 Electromechanical switches
                        10.5.1.2 Hinge pin switches
                        10.5.1.3 Limit switches
                        10.5.1.4 Non-contact interlock switches
                        10.5.1.5 Tongue interlock switches
                        10.5.1.6 Trapped key interlock switches
                                     TABLE 38 SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 39 SAFETY INTERLOCK SWITCHES: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                                     TABLE 40 SAFETY INTERLOCK SWITCHES: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 41 SAFETY INTERLOCK SWITCHES: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
                                     TABLE 42 SAFETY INTERLOCK SWITCHES: MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 43 SAFETY INTERLOCK SWITCHES: MARKET, BY REGION, 2024–2029 (USD MILLION)
     10.6 EMERGENCY STOP CONTROLS 
             10.6.1 NEED TO PREVENT POTENTIAL HAZARDS IN INDUSTRIAL SETTINGS TO DRIVE GROWTH
                        TABLE 44 EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 45 EMERGENCY STOP CONTROLS: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 46 EMERGENCY STOP CONTROLS: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 47 EMERGENCY STOP CONTROLS: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 48 EMERGENCY STOP CONTROLS: MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 49 EMERGENCY STOP CONTROLS: MARKET, BY REGION, 2024–2029 (USD MILLION)
                        10.6.1.1 Push buttons
                        10.6.1.2 Rope pull buttons
     10.7 TWO-HAND SAFETY CONTROLS 
             10.7.1 EMPHASIS ON WORKPLACE SAFETY TO DRIVE GROWTH
                        TABLE 50 TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 51 TWO-HAND SAFETY CONTROLS: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 52 TWO-HAND SAFETY CONTROLS: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 53 TWO-HAND SAFETY CONTROLS: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 54 TWO-HAND SAFETY CONTROLS: MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 55 TWO-HAND SAFETY CONTROLS: MARKET, BY REGION, 2024–2029 (USD MILLION)
 
11 MACHINE SAFETY MARKET, BY INDUSTRY (Page No. - 111)
     11.1 INTRODUCTION 
             FIGURE 42 MACHINE SAFETY MARKET, BY INDUSTRY
             FIGURE 43 PROCESS INDUSTRIES TO DOMINATE MARKET DURING FORECAST PERIOD
             TABLE 56 MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)
             TABLE 57 MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)
     11.2 PROCESS INDUSTRIES 
             TABLE 58 PROCESS INDUSTRIES: MARKET, BY TYPE, 2020–2023 (USD MILLION)
             TABLE 59 PROCESS INDUSTRIES: MARKET, BY TYPE, 2024–2029 (USD MILLION)
             11.2.1 CHEMICAL
                        11.2.1.1 Focus on improving operational efficiency to drive growth
                                     TABLE 60 CHEMICAL: MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 61 CHEMICAL: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.2.2 FOOD & BEVERAGE
                        11.2.2.1 Automation in food processing plants to drive growth
                                     TABLE 62 FOOD & BEVERAGE: MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 63 FOOD & BEVERAGE: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.2.3 METAL & MINING
                        11.2.3.1 Installation of machine safety systems for prevention of gas leakage to drive growth
                                     TABLE 64 METAL & MINING: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 65 METAL & MINING: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.2.4 OIL & GAS
                        11.2.4.1 Stringent safety regulations and standards to drive growth
                                     TABLE 66 OIL & GAS: MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 67 OIL & GAS: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.2.5 PHARMACEUTICAL
                        11.2.5.1 Deployment of machine safety solutions to enhance productivity to drive growth
                                     TABLE 68 PHARMACEUTICAL: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 69 PHARMACEUTICAL: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.2.6 POWER GENERATION
                        11.2.6.1 Improved awareness about safety to drive growth
                                     TABLE 70 POWER GENERATION: MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 71 POWER GENERATION: MARKET, BY REGION, 2024–2029 (USD MILLION)
            11.2.7 OTHER PROCESS INDUSTRIES
                       TABLE 72 OTHER PROCESS INDUSTRIES: MARKET, BY REGION, 2020–2023 (USD MILLION)
                       TABLE 73 OTHER PROCESS INDUSTRIES: MARKET, BY REGION, 2024–2029 (USD MILLION)
     11.3 DISCRETE INDUSTRIES 
             TABLE 74 DISCRETE INDUSTRIES: MACHINE SAFETY MARKET, BY TYPE, 2020–2023 (USD MILLION)
             TABLE 75 DISCRETE INDUSTRIES: MARKET, BY TYPE, 2024–2029 (USD MILLION)
             11.3.1 AEROSPACE
                        11.3.1.1 Innovations in aerospace manufacturing plants to drive growth
                                     TABLE 76 AEROSPACE: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 77 AEROSPACE: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.3.2 AUTOMOTIVE
                        11.3.2.1 Rising use of machine safety systems in automobiles to drive growth
                                     TABLE 78 AUTOMOTIVE: MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 79 AUTOMOTIVE: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.3.3 SEMICONDUCTOR & ELECTRONICS
                        11.3.3.1 Need for high precision in manufacturing to drive growth
                                     TABLE 80 SEMICONDUCTOR & ELECTRONICS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 81 SEMICONDUCTOR & ELECTRONICS: MARKET, BY REGION, 2024–2029 (USD MILLION)
             11.3.4 OTHER DISCRETE INDUSTRIES
                       TABLE 82 OTHER DISCRETE INDUSTRIES: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)
                       TABLE 83 OTHER DISCRETE INDUSTRIES: MARKET, BY REGION, 2024–2029 (USD MILLION)
 
12 MACHINE SAFETY MARKET, BY REGION (Page No. - 127)
     12.1 INTRODUCTION 
             FIGURE 44 MACHINE SAFETY MARKET, BY REGION
             FIGURE 45 EUROPE TO DOMINATE MARKET FOR MACHINE SAFETY DURING FORECAST PERIOD
             TABLE 84 MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 85 MARKET, BY REGION, 2024–2029 (USD MILLION)
     12.2 NORTH AMERICA 
             12.2.1 RECESSION IMPACT ANALYSIS
                        FIGURE 46 NORTH AMERICA: MACHINE SAFETY MARKET SNAPSHOT
                        TABLE 86 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
                        TABLE 87 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
                        TABLE 88 NORTH AMERICA: MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
                        TABLE 89 NORTH AMERICA: MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
                        TABLE 90 NORTH AMERICA: MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 91 NORTH AMERICA: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 92 NORTH AMERICA: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 93 NORTH AMERICA: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
             12.2.2 US
                        12.2.2.1 Rise in installation of safety-related systems to drive growth
             12.2.3 CANADA
                        12.2.3.1 Enforcement of stringent government regulations for workplace safety to drive growth
             12.2.4 MEXICO
                        12.2.4.1 Advancements in machine safety technologies to drive growth
     12.3 EUROPE 
             12.3.1 RECESSION IMPACT ANALYSIS
                        FIGURE 47 EUROPE: MACHINE SAFETY MARKET SNAPSHOT
                        TABLE 94 EUROPE: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
                        TABLE 95 EUROPE: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
                        TABLE 96 EUROPE: MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
                        TABLE 97 EUROPE: MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
                        TABLE 98 EUROPE: MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 99 EUROPE: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 100 EUROPE: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 101 EUROPE: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
             12.3.2 UK
                        12.3.2.1 Robust legal framework for workplace safety to drive growth
             12.3.3 GERMANY
                        12.3.3.1 Automation in manufacturing processes to drive growth
             12.3.4 FRANCE
                        12.3.4.1 Implementation of occupational health and safety policies to drive growth
             12.3.5 REST OF EUROPE
     12.4 ASIA PACIFIC 
             12.4.1 RECESSION IMPACT ANALYSIS
                        FIGURE 48 ASIA PACIFIC: MACHINE SAFETY MARKET SNAPSHOT
                        TABLE 102 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
                        TABLE 103 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
                        TABLE 104 ASIA PACIFIC: MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
                        TABLE 105 ASIA PACIFIC: MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
                        TABLE 106 ASIA PACIFIC: MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 107 ASIA PACIFIC: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 108 ASIA PACIFIC: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 109 ASIA PACIFIC: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
             12.4.2 CHINA
                        12.4.2.1 Adoption of advanced manufacturing technologies by domestic manufacturers to drive growth
             12.4.3 JAPAN
                        12.4.3.1 Expanding process industries to drive growth
             12.4.4 INDIA
                        12.4.4.1 Power for All and Make in India initiatives to drive growth
             12.4.5 SOUTH KOREA
                        12.4.5.1 Increasing investments in machine safety solutions to drive growth
             12.4.6 REST OF ASIA PACIFIC
     12.5 REST OF THE WORLD 
             12.5.1 RECESSION IMPACT ANALYSIS
                        FIGURE 49 SOUTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
                        TABLE 110 REST OF THE WORLD: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)
                        TABLE 111 REST OF THE WORLD: MARKET, BY REGION, 2024–2029 (USD MILLION)
                        TABLE 112 REST OF THE WORLD: MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
                        TABLE 113 REST OF THE WORLD: MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
                        TABLE 114 REST OF THE WORLD: MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 115 REST OF THE WORLD: MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)
                        TABLE 116 REST OF THE WORLD: MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 117 REST OF THE WORLD: MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)
             12.5.2 SOUTH AMERICA
                        12.5.2.1 Increasing inclination of organizations toward workplace safety to drive growth
             12.5.3 GCC
                        12.5.3.1 Investments in industrialization and infrastructure development to drive growth
             12.5.4 AFRICA & REST OF MIDDLE EAST
 
13 COMPETITIVE LANDSCAPE (Page No. - 151)
     13.1 INTRODUCTION 
     13.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 118 STRATEGIES ADOPTED BY KEY PLAYERS, 2022–2023
     13.3 REVENUE ANALYSIS, 2020–2023 
             FIGURE 50 REVENUE ANALYSIS OF KEY PLAYERS, 2020–2023
     13.4 MARKET SHARE ANALYSIS, 2023 
             TABLE 119 MACHINE SAFETY MARKET: DEGREE OF COMPETITION
             FIGURE 51 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023
     13.5 COMPETITIVE EVALUATION MATRIX, 2023 
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
             13.5.3 PERVASIVE PLAYERS
             13.5.4 PARTICIPANTS
                        FIGURE 52 COMPANY EVALUATION MATRIX, 2023
             13.5.5 COMPANY FOOTPRINT
                        TABLE 120 COMPONENT FOOTPRINT
                        TABLE 121 INDUSTRY FOOTPRINT
                        TABLE 122 PROCESS INDUSTRY FOOTPRINT
                        TABLE 123 DISCRETE INDUSTRY FOOTPRINT
                        TABLE 124 REGION FOOTPRINT
                        TABLE 125 COMPANY FOOTPRINT
     13.6 START-UP/SME EVALUATION MATRIX, 2023 
             13.6.1 PROGRESSIVE COMPANIES
             13.6.2 RESPONSIVE COMPANIES
             13.6.3 DYNAMIC COMPANIES
             13.6.4 STARTING BLOCKS
                        FIGURE 53 START-UP/SME EVALUATION MATRIX, 2023
             13.6.5 COMPETITIVE BENCHMARKING
                        TABLE 126 KEY START-UPS/SMES
                        TABLE 127 COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
     13.7 COMPETITIVE SCENARIO 
             13.7.1 PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 128 MACHINE SAFETY MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, 2022–2023
             13.7.2 DEALS
                        TABLE 129 MACHINE SAFETY MARKET: DEALS, 2022–2023
             13.7.3 OTHERS
                        TABLE 130 MARKET: OTHERS, 2022–2023
 
14 COMPANY PROFILES (Page No. - 170)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
     14.1 KEY PLAYERS 
             14.1.1 SCHNEIDER ELECTRIC
                        TABLE 131 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
                        FIGURE 54 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
                        TABLE 132 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 133 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 134 SCHNEIDER ELECTRIC: DEALS
             14.1.2 HONEYWELL INTERNATIONAL INC.
                        TABLE 135 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
                        FIGURE 55 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
                        TABLE 136 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 137 HONEYWELL INTERNATIONAL INC.: DEALS
             14.1.3 ABB
                        TABLE 138 ABB: COMPANY OVERVIEW
                        FIGURE 56 ABB: COMPANY SNAPSHOT
                        TABLE 139 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 140 ABB: DEALS
             14.1.4 ROCKWELL AUTOMATION, INC.
                        TABLE 141 ROCKWELL AUTOMATION, INC.: COMPANY OVERVIEW
                        FIGURE 57 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT
                        TABLE 142 ROCKWELL AUTOMATION, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 143 ROCKWELL AUTOMATION, INC.: PRODUCT LAUNCHES/DEVELOPMENTS
             14.1.5 SIEMENS
                        TABLE 144 SIEMENS: COMPANY OVERVIEW
                        FIGURE 58 SIEMENS: COMPANY SNAPSHOT
                        TABLE 145 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 146 SIEMENS: PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 147 SIEMENS: OTHERS
             14.1.6 OMRON CORPORATION
                        TABLE 148 OMRON CORPORATION: COMPANY OVERVIEW
                        FIGURE 59 OMRON CORPORATION: COMPANY SNAPSHOT
                        TABLE 149 OMRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 150 OMRON CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 151 OMRON CORPORATION: DEALS
             14.1.7 KEYENCE CORPORATION
                        TABLE 152 KEYENCE CORPORATION: COMPANY OVERVIEW
                        FIGURE 60 KEYENCE CORPORATION: COMPANY SNAPSHOT
                        TABLE 153 KEYENCE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 154 KEYENCE CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
             14.1.8 YOKOGAWA ELECTRIC CORPORATION
                        TABLE 155 YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW
                        FIGURE 61 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
                        TABLE 156 YOKOGAWA ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 157 YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 158 YOKOGAWA ELECTRIC CORPORATION: OTHERS
             14.1.9 EMERSON ELECTRIC CO.
                        TABLE 159 EMERSON ELECTRIC CO.: COMPANY OVERVIEW
                        FIGURE 62 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
                        TABLE 160 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 161 EMERSON ELECTRIC CO.: PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 162 EMERSON ELECTRIC CO.: DEALS
             14.1.10 GENERAL ELECTRIC
                        TABLE 163 GENERAL ELECTRIC: COMPANY OVERVIEW
                        FIGURE 63 GENERAL ELECTRIC: COMPANY SNAPSHOT
                        TABLE 164 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.11 MITSUBISHI ELECTRIC CORPORATION
                        TABLE 165 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
                        FIGURE 64 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
                        TABLE 166 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.12 SICK AG
                        TABLE 167 SICK AG: COMPANY OVERVIEW
                        FIGURE 65 SICK AG: COMPANY SNAPSHOT
                        TABLE 168 SICK AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 169 SICK AG: PRODUCT LAUNCHES/DEVELOPMENTS
                        TABLE 170 SICK AG: DEALS
             14.1.13 HIMA
                        TABLE 171 HIMA: COMPANY OVERVIEW
                        TABLE 172 HIMA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.14 IDEC CORPORATION
                        TABLE 173 IDEC CORPORATION: COMPANY OVERVIEW
                        FIGURE 66 IDEC CORPORATION: COMPANY SNAPSHOT
                        TABLE 174 IDEC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 175 IDEC CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
     14.2 OTHER MAJOR PLAYERS 
             14.2.1 BALLUFF GMBH
             14.2.2 BANNER ENGINEERING CORP.
             14.2.3 BAUMER
             14.2.4 PILZ GMBH & CO. KG
             14.2.5 PEPPERL+FUCHS SE
     14.3 SMALL AND MEDIUM-SIZED ENTERPRISES 
             14.3.1 EUCHNER GMBH + CO. KG
             14.3.2 DATALOGIC S.P.A.
             14.3.3 LEUZE ELECTRONIC PVT. LTD.
             14.3.4 FORTRESS INTERLOCKS
             14.3.5 K.A. SCHMERSAL GMBH & CO. KG
             14.3.6 ROCKFORD SYSTEMS
             14.3.7 STEUTE TECHNOLOGIES GMBH & CO. KG
             14.3.8 KSA CARLO GAVAZZI CO. LTD.
             14.3.9 MURRELEKTRONIK GMBH
             14.3.10 EAO AG
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
15 ADJACENT MARKETS (Page No. - 223)
     15.1 INTRODUCTION 
     15.2 STUDY LIMITATIONS 
     15.3 HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY OFFERING 
             15.3.1 INTRODUCTION
                        TABLE 176 HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY OFFERING, 2018–2021 (USD MILLION)
                        TABLE 177 HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY OFFERING, 2022–2027 (USD MILLION)
             15.3.2 COMPONENTS
                        TABLE 178 COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2018–2021 (USD MILLION)
                        TABLE 179 COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2022–2027 (USD MILLION)
                        TABLE 180 COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                        TABLE 181 COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
                        15.3.2.1 Filed initiators
                        15.3.2.2 Logic solvers
                                     TABLE 182 LOGIC SOLVERS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2018–2021 (USD MILLION)
                                     TABLE 183 LOGIC SOLVERS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2022–2027 (USD MILLION)
                                     15.3.2.2.1 Solid-state logic solvers
                                     15.3.2.2.2 Others
                        15.3.2.3 Valves
                        15.3.2.4 Actuators
                        15.3.2.5 Other components
             15.3.3 SERVICES
                        TABLE 184 SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2018–2021 (USD MILLION)
                        TABLE 185 SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2022–2027 (USD MILLION)
                        TABLE 186 SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                        TABLE 187 SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
                        15.3.3.1 Testing, inspection, and certification (TIC)
                        15.3.3.2 Maintenance
                        15.3.3.3 Training and consultation
 
16 APPENDIX (Page No. - 231)
     16.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 
     16.2 DISCUSSION GUIDE 
     16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     16.4 CUSTOMIZATION OPTIONS 
     16.5 RELATED REPORTS 
     16.6 AUTHOR DETAILS 

 

 

The study involves four significant activities for estimating the size of the Machine safety market. Exhaustive secondary research has been conducted to collect information related to the market. The next step is to validate these findings and assumptions related to the market size with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the Machine safety market. After that, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.

Secondary Research

Secondary sources for this research study included corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; certified publications, articles by recognized authors; directories; and databases. The secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.

Primary Research

Extensive primary research has been conducted after gaining knowledge about the current scenario of the Machine safety market through secondary research. Several primary interviews have been conducted with experts from the supply and demand sides across four major regions—North America, Europe, Asia Pacific, and RoW. This primary data has been collected through questionnaires, emails, and telephonic interviews.

Machine Safety Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been implemented to estimate and validate the size of the Machine safety market and other dependent submarkets listed in this report.

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The supply chain of the industry and the market size, in terms of value, have been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Machine safety Market: Top-Down Approach

  • In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits obtained from secondary and primary research.
  •  For calculating the Machine safety market segments, the market size obtained by implementing the bottom-up approach has been used to implement the top-down approach, which was later confirmed with the primary respondents across different regions.
  • The bottom-up approach has also been implemented for the data extracted from secondary research to validate the market size of various segments.
  • Each company’s market share has been estimated to verify the revenue shares used earlier in the bottom-up approach. With the help of data triangulation and validation of data through primary, the size of the overall Machine safety and each market have been determined and confirmed in this study.

Machine Safety Market
 Size, and Top-Down Approach

Machine safety Market: Bottom-Up Approach

  • The bottom-up approach was used to arrive at the overall size of the Machine Safety market from the revenue of key players and their market share.
  • Identifying various industries using or expected to deploy Machine Safety by its type at their facilities.
  • Analyzing the use cases across different regions and companies.
  • Estimating the size of the Machine Safety market on the basis of the demand from these industries and companies
  • Tracking the ongoing and upcoming installation contracts, acquisitions, expansions, and product launches by various companies, and forecasting the market based on these developments and other critical parameters.
  • Conducting multiple discussions with key opinion leaders to understand Machine Safety Type & product by companies in these industries to analyze the break-up of the scope of work carried out by each major company providing Machine Safety components.
  • Arriving at the market estimates by analyzing the country-wise sales of Machine Safety solutions companies and combining this data to get the regional market estimates.
  • Verifying and crosschecking the estimates at every level through discussions with key opinion leaders, including CEOs, directors, operations managers, and domain experts at MarketsandMarkets
  • Studying various paid and unpaid information sources, such as annual reports, press releases, and white papers.

Machine Safety Market
 Size, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed wherever applicable to complete the overall market engineering process and arrive at exact statistics for all segments. The data was then triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Market Definition

A machine safety system is a set of measures and components designed to ensure the safety of operators and other personnel working with or near machines. These systems typically include physical guards, safety interlocks, emergency stops, warning signs, and other devices intended to prevent or minimize the risks of injury or harm.
The primary goal of a machine safety system is to prevent accidents and injuries by reducing or eliminating the potential hazards associated with operating machines. This includes ensuring that all components are properly installed and maintained, workers are adequately trained and informed about potential hazards, and appropriate safety procedures are in place and followed.

In addition to protecting workers, machine safety systems can help minimize downtime and reduce the risk of equipment damage or failure. By implementing appropriate safety measures, businesses can improve their overall productivity and profitability while ensuring the safety of their employees.

The machine safety market comprises players that offer components such as presence-sensing safety sensors, safety switches, safety controllers/relays, programmable safety systems, and emergency stop devices. The market is diversified, with component manufacturing companies competing across the value chain to sustain their position in the market and increase their market share.

The machine safety market is likely to witness significant growth in the coming years because it is essential for companies in the automotive, food & beverage, oil & gas, power generation, and chemical industries to invest in safety measures to reduce the risk of accidents and promote a safe working environment. Schneider Electric (France), Honeywell International Inc. (US), ABB (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), OMRON Corporation (Japan), KEYENCE CORPORATION (Japan), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), and General Electric (US) are among a few key companies in this market.

Key Stakeholders

  • Original equipment manufacturers (OEMs)
  • Providers of technology solutions
  • Research institutes
  • Market research and consulting firms
  • Forums, alliances, and associations related to Machine safety
  • Technology investors
  • Governments and financial institutions
  • Analysts and strategic business planners
  • Existing end users and prospective ones

Report Objectives:

  • To describe and forecast the Machine safety market in terms of value based on Offerings, Components, Process Industry, and Discrete Industry
  • To describe and forecast the Machine safety market size in terms of value for four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the Machine safety market
  • To provide a detailed overview of the supply chain of the ecosystem
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
  • To analyze the probable impact of the recession on the market in the future
  • To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio.
  • To analyze competitive developments such as acquisitions, product launches, partnerships, expansions, and collaborations undertaken in the Machine safety market

Available Customization:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for this report:

  • Company Information: Detailed analysis and profiling of additional five market players
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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