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What are the Key Projections for the CAGR of the Machine Safety Market From 2025 to 2034?

The market size for machine safety has seen a robust growth in the recent past. Projected to rise from $5.76 billion in 2024 to $6.26 billion in 2025, the market will witness a compound annual growth rate (CAGR) of 8.7%. The historic growth can be accredited to enhanced consciousness about occupational dangers and mishaps, expansion in industrial automation and manufacturing activities, the imperative nature of accident prevention and worker safety, emphasis on employee health and well-being at work, along with strict compliance to safety regulations in various industries.

Predictions for the machine safety market size indicate a sturdy growth in the coming years, with an expected increase to $8.76 billion by 2029 and a compound annual growth rate (CAGR) of 8.8%. Factors contributing to this projected growth within the forecast period include the merging of machine safety systems with industrial internet of things (IIoT) platforms, the rising demand for safety solutions powered by machine learning and AI, the enlarging operations of robotics and collaborative robot (cobot) applications, an accentuated focus on harmonizing human-machine interaction and safety, and an increase in R&D for emerging safety devices and systems. The forecast period also highlights several trends, such as using machine learning for predictive safety analysis, the utilization of emergency stop devices and alarms, safety PLCs and programmable safety systems, safety interlock switches and lockout/tagout systems, along with the real-time monitoring and reporting of safety incidents.

Which Primary Drivers Are Supporting the Continued Expansion of the machine safety Market?

The machine safety market is anticipated to expand throughout the forecast period due to the enforcement of stringent machine safety regulations. With a rise in workplace accidents and inadequate public safety management, plenty of governmental and international bodies have implemented these stringent safety requirements for workplace machinery. These rules aim to facilitate safer utilization of machinery and enhanced safety handling procedures. For example, as per a July 2024 report published by The ADAS & Autonomous Vehicle International – a news website based in Germany, a new law called the Vehicle General Safety Regulation (GSR2) or Regulation (EU) 2019/2144, sets renewed minimum performance standards for motor vehicles within the EU. This regulation enforces the inclusion of various advanced driver assistance systems (ADAS), such as Intelligent Speed Assist (ISA), Autonomous Emergency Braking (AEB), Driver Drowsiness and Attention Warning (DDAW), and Emergency Lane-Keeping Systems (ELKS). Thus, the enforcement of stringent machine safety regulations serves as a primary factor propelling the machine safety market.

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What Are the Key Industry Players Leading the Charge in the Machine Safety Market’s Growth?

Major companies operating in the machine safety market include:

• ABB Group_x000D_

• Schneider Electric SE_x000D_

• Honeywell International Inc._x000D_

• Emerson Electric Co._x000D_

• Rockwell Automation Inc._x000D_

How Are Market Trends and Shifts Impacting the Growth Trajectory of the Machine Safety Market?

Leading firms in the machine safety market are concentrating their efforts on developing machine safety websites to improve access to safety resources, comprehensive training materials, facilitate compliance documentation, and promote real-time interaction between manufacturers. These websites are web-based platforms dedicated to providing machine safety and compliance-related resources, information, and tools. They offer custom-made machine guarding solutions, specially crafted to cater to the distinct requirements of every client and their machines, as opposed to using generic solutions. For example, the US-based company, Machine & Process Safety Assessment Group, introduced a machine safety website, mpsasafety.com, in March 2022. MPSA performs detailed machine stop-time analysis, which is vital for the successful setup of systems like light curtains. MPSA’s expert engineering team is capable of devising new safety solutions or rehashing existing ones, which is helpful when the original designs are inaccessible.

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How Are Key Segments Defining the Competitive Landscape of the Machine Safety Market?

The machine safety market covered in this report is segmented –

1) By Implementation: Individual Components, Embedded Components

2) By Component: Presence Sensing Safety Sensors, Safety Interlock Switches, Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls

3) By System: Assembly, Material Handling, Metal Working, Packaging, Robotics, Other Systems

4) By Industry: Oil And Gas, Energy And Power, Chemicals, Food And Beverages, Aerospace And Defense, Automotive, Semiconductor And Electronics, Healthcare And Pharmaceuticals, Metals And Mining, Other Industries

Subsegments:

1) By Individual Components: Safety Sensors, Safety Relays And Controllers, Emergency Stop Devices, Safety Switches And Interlocks

2) By Embedded Components: Integrated Safety Systems, Safety-Integrated Controllers, Embedded Safety Software, Functional Safety Modules

What Regions Are Influencing the Dynamics of the Machine Safety Market?

Western Europe was the largest region in the machine safety market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine safety market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

How Is the Definition of the Machine Safety Market Impacting Future Growth?

Machine safety refers to the sensor, devices, or switches used to control workplace accidents and improve production efficiency. The objective of machine safety is to protect workers from the hazards of machinery and the hazardous effect related to it. Machine safety controllers monitor safety and non-safety input devices providing safe stop and start functions for machines with motion.

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