Machine Safety Market worth $6.0 billion by 2025

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MarketsandMarkets Presents

Machine Safety Market worth 6.0 billion by
2025 Machine Safety Market with COVID-19 Impact,
by Component (Presence Sensing Safety Sensors,
Safety PLCs, Safety Modules/Controllers/Relays),
Implementation, Application (Assembly, Packaging,
Robotics), Industry, and Region - Global Forecast
to 2025 https//www.marketsandmarkets.com/Market-
Reports/machine-safety-market-1188.html
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According to the new market research
report "Machine Safety Market with COVID-19
Impact, by Component (Presence Sensing Safety
Sensors, Safety PLCs, Safety Modules/Controllers/R
elays), Implementation, Application (Assembly,
Packaging, Robotics), Industry, and Region -
Global Forecast to 2025", published by
MarketsandMarkets, the Machine Safety Market is
expected to be valued at USD 4.5 billion in 2020
and is projected to reach USD 6.0 billion by
2025 it is expected to grow at a CAGR of 6.1
from 2020 to 2025. Key factors driving the
demand for machine safety systems include strict
industrial safety mandates and high requirements
for reliable safety systems to ensure personnel
and asset protection.  Moreover, adoption of
digital technology to minimize the impact of
COVID-19 and elevate organization safety growing
acceptance of workplace safety standards in
emerging economies and increasing use of IIoT to
ensure better management and improved performance
of industrial assets are some of the major growth
opportunity for machine safety market. Browse 148
market data Tables and 43 Figures spread
through 204 Pages and in-depth TOC on "Machine
Safety Market - Global Forecast to 2025"
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Machine Safety Market for the programmable
safety system to grow at fastest CAGR from 2020
to 2025 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 to comply with strict industrial safety
regulatory standards. Programmable safety systems
are an integral part of safety instrumented
systems. These systems must be designed or
selected in accordance with the IEC 61508
standard and are required to achieve the SIL 3
and SIL 4 performance. Ask PDF
Brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id1188 Individual component market
to lead the machine safety market during the
forecasted period Currently, machine safety
systems provide increased safety for process
industries. Individual componets of machine
safety demands continue to rise. Individual
components are compatible with each other and,
therefore, are easy to connect and configure.
Also, the installation of individual components
is easy hence, organizations demand aftermarket
installation of individual safety components,
resulting in high implementation of individual
components compared with embedded components.
However, several industrial units across the
world have suspended their operations owing to
the outbreak of the COVID-19. This is expected to
create a temporary slag in the growth of the
individual component market in 2020.
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Robotics application to hold the largest market
share for machine safety in 2020 The robotics
segment held the largest size of the market in
2020. Machine safety functions such as
controlling, limiting, and positioning are
indispensable to automated robotic processes.
With technological advancements in the field, new
collaborative robots have been introduced due to
this, safety regulations for robots are being
rewritten with new specifications. The ISO/TS
15066 specification outlines guidelines covering
collaborative model use within 4 main
areassafety-monitored stops, hand-guiding, speed
and separation monitoring, and power and force
limiting robotics products. Request Free Sample
Pages https//www.marketsandmarkets.com/requestsa
mpleNew.asp?id1188 Energy power industry to
hold the largest market share for machine safety
in 2020 The global demand for energy is
increasing rapidly. This is pushing the energy
power industry to utilize available resources
efficiently and reduce asset downtime while
enhancing their performance. Machine safety
systems such as burner management systems, fire,
and gas monitoring controllers, and emergency
shutdown systems are widely integrated into power
plants. Fire and gas monitoring solutions are
especially deployed in power plants and
substations due to applicable laws and
regulations. The energy power industry has been
largely affected by the COVID-19 outbreak.
However, many power companies are helping
communities by keeping their assets online and
supplying electricity and natural gas.
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Europe to be the largest market for machine
safety during the forecast period Europe is one
of the largest markets for machine safety systems
as machine safety standards are strictly followed
within the European Economic Area (comprises all
European Union countries). The safety standards
and directives present in the region restrict the
supply and operation of machinery that do not
meet the regulatory requirements. The machine
safety requirements are stringent in the European
region, which are driving the growth of the
market. Moreover, increasing focus of European
companies on reducing OPEX and rising
environmental concerns have propelled the
installation of machine safety systems in this
region. Major players in the machine safety
market are ABB Ltd. (Switzerland), Emerson
Electric Co. (US), General Electric Co. (US),
Honeywell International Inc. (US), Schneider
Electric SE (France), Rockwell Automation, Inc.
(US), Siemens AG (Germany), Yokogawa Electric
Corp. (Japan), Omron Corporation (Japan) Keyence
Corporation (Japan), Mitsubishi Electric
Corporation (Japan), Pilz GmbH Co. KG
(Germany), Sick AG (Germany), Balluff GmbH
(Germany), and Banner Engineering Corp. (US).
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