From GlobeNewswire: 2024-05-14 04:00:00

The global machine safety market is projected to grow from USD 5.4 billion in 2024 to USD 7.0 billion by 2029, with a CAGR of 5.4%. Factors driving growth include increased workplace safety awareness and the integration of automation technologies. Major companies in the sector include Schneider Electric, Honeywell, and Siemens.

The market is segmented by components such as presence detection sensors and safety controllers, and by industries like chemicals, food & beverages, and aerospace. Major regions include North America, Europe, Asia Pacific, and the rest of the world. Emerging economies like South Korea, India, and China are lagging in machine safety adoption compared to developed countries.

A challenge in the industry is the failure to anticipate all risks associated with machinery setup. Risk assessments involving various stakeholders are crucial, but designers may struggle to identify all hazards. The rise of industrial automation has revolutionized the industry, promoting efficiency and productivity gains through robotics, AI, and machine learning technologies.

The future of the machine safety market looks promising as technology advances. Innovations like collaborative robots, cloud-based automation platforms, and IoT are reshaping the industry, fostering greater collaboration between humans and machines for increased efficiency. Industry trends include upgraded safety switches, new smoke detectors, and enhanced alarm management systems.



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