December 4, 2021

Machine Safeguarding Solutions Market Size to Grow by USD 1.34 Bn|17,000+ Technavio Research Reports

NEW YORK, Nov. 1, 2021 /PRNewswire/ — The machine safeguarding solutions market size is expected to increase by USD 1.34 billion…

NEW YORK, Nov. 1, 2021 /PRNewswire/ — The machine safeguarding solutions market size is expected to increase by USD 1.34 billion from 2020 to 2025, registering a CAGR of 6.25%, according to the latest research report from Technavio. The machine safeguarding solutions market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.

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Market Drivers and Trends

The growth of end-user industries will be crucial in fueling the growth of the market over the forecast period. There is an increasing demand for adequate machine safeguarding solutions as more and more machine tools are being deployed in the automotive and industrial machinery sector. In addition, the increasing use of robots in industrial manufacturing will further drive the machine safeguarding solutions market growth during the forecast period.

Furthermore, the ability and availability of small robots in the automotive industry has driven the need for sophisticated safeguarding equipment including laser scanners, safety light curtains, and perimeter guards However, poor implementation of workplace safety norms in developing countries may impede the market growth. 

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Market Segmentation

The machine safeguarding solutions market is segmented by Product (Switches, Controllers, Sensors, and Others) and Geography (Europe, North America, APAC, MEA, and South America). The Switches segment led the market share in 2020 and will continue to maintain its dominance in the market during the forecast period. In terms of geography, 34% of the growth will originate from Europe with Germany and UK emerging as the key revenue-generating economies across the globe. This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Market Scope

The machine safeguarding solutions market covers the following areas:

Machine Safeguarding Solutions Market Sizing

Machine Safeguarding Solutions Market Forecast

Machine Safeguarding Solutions Market Analysis

Companies Mentioned

  • ABB Ltd.
  • Eaton Corp. Plc
  • Emerson Electric Co.
  • Honeywell International Inc.
  • OMRON Corp.
  • Rockford Systems LLC
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Uniguard Machine Guards

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Machine Safeguarding Solutions Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.25%

Market growth 2021-2025

USD 1.34 billion

Market structure

Fragmented

YoY growth (%)

4.92

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 34%

Key consumer countries

US, Germany, Japan, UK, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., Honeywell International Inc., OMRON Corp., Rockford Systems LLC, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Uniguard Machine Guards

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research

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SOURCE Technavio