Global Machine Safeguarding Solutions Market Will Grow at a CAGR of Over 6% During 2019-2023 | Technavio
LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Research?src=hash" target="_blank"gt;#Researchlt;/agt;–Technavio has announced the release of their research report on the global machine safeguarding solutions market for the forecast period 2019-2023. This machine safeguarding solutions market analysis report segments the market by product (switches, controllers, sensors, and others) and geography (APAC, Europe, MEA, North America, and South America).
Global machine safeguarding solutions market size will grow by USD 1.29 billion during 2019-2023, at a CAGR of over 6%. Numerous industries including electrical and electronics and automotive manufacturing sectors are increasingly deploying industrial robots to carry out various manufacturing processes. Robots are cost-effective and can handle small and delicate parts such as silicon wafers. However, they may pose a threat to operators or maintenance personnel who may experience injuries. This is resulting in an increased demand for sophisticated safeguarding equipment such as perimeter guards, laser scanners, safety light curtains, and pressure sensitive mats to prevent potential injuries by these robots to the operators or maintenance personnel.
Growth of end-user industries
Several machining operations that are carried out in automotive and industrial machine manufacturing and pharmaceutical industry involve bending, boring, grinding, and milling. Manufacturers use transmission systems such as flywheels, belts, pulleys, motors, and gears to operate auxiliary systems such as compressors and pumps, machine tools, and packaging lines. The increased use of these tools and systems can pose a significant safety hazard to the operators and stimulate the need for adequate machine safeguarding solutions to eliminate or reduce safety risks.
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“The consistent growing demand for aerospace and defense equipment from developing countries such as Nigeria, Bangladesh, Saudi Arabi, and India will drive the machine safeguarding solutions market growth in Europe. Additionally, rising investments in new respiratory and HIV medicine manufacturing plant in the UK and growth in the pharmaceutical industry will drive the growth of the market in Europe”, says an analyst at Technavio.
With an increase in the number of stringent regulations, vendors in developed countries are increasingly introducing personal protection equipment, including fall protection equipment. Competent enforcement agencies ensure the strict compliance of machine safeguarding solutions. This is encouraging market players to offer products that can boost the effectiveness of machine safeguarding solutions.
View snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This machine safeguarding solutions industry research report provides an in-depth analysis of the primary drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several machine safeguarding solutions manufacturers including –
- ABB
- Emerson Electric Co.
- Honeywell International Inc.
- Rockwell Automation Inc.
- Schneider Electric
- Siemens AG
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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This article published with permission from Business Wire
