Machine Safety Market worth $7.0 billion by 2029 – Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 7, 2024 /PRNewswire/ — The Machine safety market is projected to grow from USD 5.4 billion in 2024 to USD 7.0 billion by 2029; it is expected to grow at a CAGR of 5.4% from 2024 to 2029 according to a new report by MarketsandMarkets™. The Machine Safety Market is experiencing significant growth fueled by automation advancements, stringent safety mandates, and heightened awareness of workplace safety, leading to a rising demand for advanced safety solutions and technologies.

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Browse in-depth TOC on “Machine Safety Market” 150 – Tables

60 – Figures

200 – Pages

Machine Safety Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 5.4 billion

Estimated Value by 2029

$ 7.0 billion

Growth Rate

Poised to grow at a CAGR of 5.4%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Component, Offering, Industry and Region

Geographies Covered

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

Key Market Challenge

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

Key Market Opportunities

Increasing awareness about workplace safety standards in emerging economies

Key Market Drivers

Adoption of automation to improve efficiency and productivity



Machine Safety Systems to hold the largest market share in the year 2023.

The Machine Safety Systems market is thriving with the surge in automation, strict safety standards, and a heightened focus on workplace safety. The increasing demand for advanced safety technologies reflects the industry’s robust growth, driven by the imperative to ensure secure and efficient operations across various industrial sectors.

Programmable Safety Systems to record the highest CAGR during the forecast period.

The Programmable Safety Systems market is experiencing robust growth owing to escalating automation trends and stringent safety norms. As industries prioritize worker safety, there is a heightened demand for programmable safety solutions that offer flexibility and adaptability. These systems integrate advanced technologies to create safer work environments, meeting the evolving needs of diverse industries. The increasing awareness and adoption of programmable safety systems underscore their pivotal role in ensuring comprehensive safety measures within industrial settings.

Food & Beverages segment to record the highest CAGR during the forecast period.

The Machine Safety market in the Food & Beverages industry is expanding significantly. Driven by the increasing automation of production processes and the need to adhere to stringent safety regulations, there is a growing adoption of advanced safety solutions. The integration of machine safety measures ensures enhanced worker protection, compliance with industry standards, and the prevention of accidents, contributing to the overall efficiency and reliability of operations in the Food & Beverages sector.

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Asia Pacific is expected to grow at the highest CAGR in the Machine safety market from 2024 to 2029.

In the Asia-Pacific region, the Machine Safety industry is experiencing significant growth, propelled by rapid industrialization, heightened automation, and increased attention to worker safety. The rising demand for advanced safety technologies, driven by stringent regulations, underscores the region’s proactive stance on workplace safety. This dynamic growth positions Asia-Pacific as a pivotal force in shaping the global machine safety sector.

Key players operating in the Machine safety companies include 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), IDEC Corporation (Japan) and Others in the Machine safety market.

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