Global Machine Safety Market is Growing at a Significant Rate in the Forecast Period 2019-2026

According to Data Bridge Market Research new Market report, global machine safety market will account to an estimated USD 4.41 billion in 2018 growing at a CAGR of 5.75% during the forecast period of 2019 to 2026.

Global Machine Safety Market

Global Machine Safety Market

Machine safety is the name given to devices and systems that are implemented on the machines that are used in the industrial environment. These set of devices and systems are put forward for the safety of workers of these machines and also the individuals in the vicinity. These devices help in promoting safe working environments and reduce loss of life as well as extending the cycle life of machines.

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Segmentation: Global Machine Safety Market

Global machine safety market is segmented on the basis of component, implementation, application, industry and geography.

By Component (Presence-Sensing Safety Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems, Safety Interlock Switches, Emergency Stop Devices, Two-Hand Safety Controls), Implementation (Individual Components, Embedded Components), Application (Assembly, Material Handling, Metal Working, Packaging, Robotics, Others), Industry (Oil & Gas, Chemicals, Aerospace, Semiconductors & Electronics, Food & Beverages, Automotive, Healthcare, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN MACHINE SAFETY MARKET

Fatal accidents causing rise in adoption of machine safety

According to OSHA (Occupational Safety and Health Administration), around 4,836 fatal injuries were witnessed all over the United States in 2015, this number was risen up to 5,190 by 2016. In 2017, this number witnessed a slight decline at 5,147. However, even then this high number of fatal injuries resulting in death of workers and individuals has given rise to the need of machine safety.

Machine safety can be defined as the set of safety devices and systems that help in avoiding such fatal accidents and are majorly employed in industrial environments.

Key Market Competitors: Global Machine Safety Market

Few of the major competitors currently working in the machine safety market are Rockwell Automation Inc., Schneider Electric, Mitsubishi Electric Corporation, OMRON Corporation, Pilz GmbH & Co. KG, ABB, Honeywell International Inc., Siemens AG, KEYENCE CORPORATION, IDEC Corporation, SICK AG, Pepperl+Fuchs, Euchner-USA Inc., PHOENIX CONTACT, K.A. Schmersal GmbH & Co. KG, Datalogic S.p.A., Stronghold Safety Engineering, Rockford Systems LLC, Troax Group and Rite-Hite.

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