Overview of the global security market to 2026
Dublin, July 21, 2021 (GLOBE NEWSWIRE) – The report “Machinery Safety Market – Forecasts 2021 to 2026” has been added to ResearchAndMarkets.com offer.
The Global Machinery Safety Market was valued at US $ 1,204.949 million in 2019 and is expected to experience a CAGR of 6.28% during the forecast period to reach the market size of US $ 1,845.565 million by 2026.
Machine safety systems are protective devices or devices implemented to protect machines and personnel working near or on them. The need for machine safety systems is slowly being realized by industry players as a way to maintain a good public image of their company, as companies concerned with the safety of their employees are seen as more trustworthy by the parties. stakeholders of the company. In addition, with the increasing number of activities in factories and manufacturing plants and the number of people directly and indirectly involved in machinery, the number of accidents has increased. These accidents can cause collateral damage, endanger the lives of personnel and cause environmental disasters that can seriously damage a company’s reputation.
With strict government regulations regarding worker safety and corporate responsibility to prevent industrial accidents, constant innovations and technological advancements are taking place in the machinery safety market. The use of technologies such as computer vision, artificial intelligence, machine learning and the Internet of Things is researched and large use cases are being developed for these technologies. Technologies such as the Internet of Things can be used to collect real-time data from sensors placed near machines and provide instant alerts and analysis in the event of an emergency. Computer vision, another emerging technology, can be used to automate production processes that can be dangerous to humans by controlling different devices. Therefore, with the constant technological advancements and ongoing innovations in the machine safety industry and their ability to increase operational efficiency and personnel safety, the machine safety market is expected to grow exponentially in coming years. However, the high costs associated with the purchase, maintenance and repair of security components are holding back the growth of the market.
The machinery safety market is segmented on the basis of component, implementation, application, industry, and geography.
- By component, this market is segmented into presence sensing safety sensors, programmable safety systems, safety controllers / modules / relays, emergency stop devices, safety switches and two-hand safety controls.
- When implemented, it is segmented into individual components and integrated components.
- By application, it is segmented into assembly, robotics, material handling, packaging, metalworking and others.
- By industry, the market is segmented into oil and gas, chemicals, aerospace, food and beverage, healthcare, semiconductor and electronics, automotive, and others.
- By geography, the market is segmented into North America, South America, Europe, Middle East & Africa, and Asia-Pacific.
Increase in industrial activities
With the rapid industrialization and globalization, there has been a huge increase in industrial activities which require a large number of machines to meet the ever increasing demand for goods. These machines are used in all kinds of industries and processes, some of which can even cause environmental disasters if not handled properly. Thus, safety systems have become one of the most important components for machines in order for them to work properly and without causing accidents, which leads to an increase in their demand.
Improves operational efficiency
Machine safety systems are widely used for fire and gas monitoring as they provide a platform to improve operational efficiency and increase productivity. Also due to social distancing standards, factories and manufacturing plants have been forced to operate with reduced manpower, increasing the need to automate various activities. Safety systems can be used to prevent accidents in automated processes, reducing the risk of collateral damage and helping to increase operational efficiency by controlling the proper functioning of these automated tasks.
The costs of purchasing, maintaining and repairing these security systems can be very high, making it very difficult for small and medium businesses to afford them. Also with the COVID-19 epidemic, the purchasing capacity of businesses has decreased, which may act as a drag on the growth of the machinery safety market.
Non-compliance and lack of expertise
Failure to adhere to government mandated machine safety measures as well as the expertise required for the correct installation and operation of such safety systems in developing countries may be a drag on the overall growth of the market.
Impact of COVID-19
Due to the COVID-19 outbreak, full industrial production has come to a halt. Businesses and manufacturers across various verticals have been unable to operate due to government-imposed lockdowns. Therefore, with the shutdown of manufacturing and industrial activities as well as the financial limitations caused by the pandemic, the machinery safety market has seen its demand drop. However, the adoption of machine safety systems is expected to increase in the coming years. This can be attributed to the fact that companies are increasingly looking to automate important functions in their factories to increase the efficiency of operations. So, with an increase in the number of machines needed to continue business operations even in a crisis, the demand for security systems will also increase.
The major key players in the global machine safety market include Rockwell Automation, Inc., Schneider Electric, Honeywell International Inc., Siemens, Keyence Corporation, Mitsubishi Electric Corporation. Players in the global Machine Safety Market are implementing various growth strategies to gain competitive advantage over their competitors in this market. The major market players in the market have been covered along with their relative competitive strategies and the report also mentions the recent agreements and investments of various market players over the past few years. The Company Profiles section details the overview of the company, the financial performance (SOEs) in recent years, the key products and services offered as well as the recent agreements and investments of these important players on the market. global machinery safety market.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Porters Five Forces Analysis
4.4. Industry value chain analysis
5. Global Machine Safety Market Analysis, By Component
5.2. Safety sensors with presence detection
5.3. Programmable security systems
5.4. Safety controllers / modules / relays
5.5. Emergency stop devices
5.6. Safety switches
5.7. Two-handed safety controls
6. Global Machine Safety Market Analysis, By Implementation
6.2. Individual components
6.3. Embedded components
7. Global Machinery Safety Market Analysis, By Application
7.4. Material handling
8. Global Machinery Safety Market Analysis, By Industry
8.2. Petroleum gas
8.3. Chemical products
8.5. Food and drinks
8.6. Health care
8.7. Semiconductor & electronics,
9. Global Machinery Safety Market Analysis, By Geography
10. Competitive environment and analysis
10.1. Major players and strategic analysis
10.2. Emerging players and market profitability
10.3. Mergers, acquisitions, agreements and collaborations
10.4. Supplier competitiveness matrix
11. Company profiles
11.1. Rockwell Automation
11.2. Schneider Electric
11.3. Honeywell International
11.5. Keyence Company
11.6. Mitsubishi electric corporation
11.7. OMRON Company
11.8. IDEC Company
11.9. Euchner-USA, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/urg16m