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Machine Safety Market with COVID-19 Impact, by Component, Implementation, Application, Industry, and Region - Global Forecast to 2025DUBLIN, Jan. 13, 2021 /PRNewswire/ -- The "Machine Safety Market with COVID-19 Impact, by Component (Presence Sensing Safety Sensors, Safety PLCs, Safety Modules/Controllers/Relays), Implementation, Application (Assembly, Packaging, Robotics), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The machine safety market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. The market for embedded components to grow at a higher CAGR during the forecast period. Embedded safety component systems increase efficiency and provide better flexibility to operators; these systems reduce downtime by safely resolving issues, without stopping the entire production line. In addition, the evolution of functional safety in machinery is expected to boost the demand for embedded safety components in the coming years. Organizations have started adopting embedded safety solutions to achieve better product performance and advanced safety. These factors owing to the higher growth of embedded components as compared to individual components during the forecast period. The market for safety PLCs to grow at the highest CAGR during the forecast period. The major factors driving the machine safety market growth are stringent safety regulations, high demand for safety systems in the oil & gas industry, and the rising need for reliable safety systems for personnel and asset protection. The growth of this market can be attributed to the widespread adoption of programmable safety systems in end-user industries. Programmable safety systems or safety PLCs are considered as the backbone of machine safety systems. These systems can be easily used in close conjunction with other systems. APAC is projected to grow at a higher CAGR during the forecast period. APAC is expected to be the fastest-growing market for machine safety. APAC is considered one of the fastest-growing economies. Countries in this region focus on large-scale industrial manufacturing and, thus, has a vast number of manufacturing plants of almost all major companies across the world. Countries such as China, India, Japan, South Korea, Australia, and Indonesia are rapidly expanding their manufacturing output. China is considered as one of the biggest manufacturing countries in the world, thereby driving the manufacturing sector in APAC. Various multinational companies have set up their manufacturing plants in APAC and are adopting higher safety standards leading to increased demand for safety systems. However, due to the outbreak of COVID-19, various companies in APAC witnessed a decline in demand for machine safety. The company has been temporarily stalling new projects. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summarybr />3.1 Pre-COVID-19 Scenario 3.3 Pessimistic Scenario 3.4 Optimistic Scenario 4 Premium Insights 4.1 Attractive Growth Opportunities in Machine Safety Market 4.2 Market, by Component 4.3 Market, by Application 4.4 Market, by Industry 4.5 Market, by Region 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Rising Emphasis on Personnel and Asset Protection 5.2.1.2 Stringent Machinery and Equipment Safety Regulations 5.2.2 Restraints 5.2.2.1 Requirements for Huge Capital to Install and Automate Machine Safety Systems 5.2.2.2 Lack of Awareness Regarding Importance of Machine Safety, Coupled with Complexities of Machine Safety Systems 5.2.3 Opportunities 5.2.3.1 Adoption of Digital Technology to Minimize Impact of COVID-19 and Elevate Organization Safety 5.2.3.2 Growing Acceptance of Workplace Safety Standards in Emerging Economies 5.2.3.3 Increasing Use of IIoT to Ensure Better Management and Improved Performance of Industrial Assets 5.2.4 Challenges 5.2.4.1 Suspension in Industrial Activities due to COVID-19 and Subsequent Decline in Market 5.2.4.2 Failure to Access All Machinery-Related Risks 5.3 Technologies in Machine Safety Systems 5.3.1 Computer Vision 5.3.2 Automated Machine Learning 5.3.3 Internet of Things 5.3.4 Virtual Reality 5.4 Case Study Analysis 5.4.1 Automotive 5.4.2 Healthcare 5.4.3 Food & Beverages 5.4.4 Oil & Gas 5.5 Value Chain Analysis 5.6 Ecosystem: Machine Safety 5.7 Average Selling Price Analysis 5.8 Patents Analysis: Machine Safety 5.9 Machine Safety Standards 5.10 Safety Integrity Level (Sil) 5.11 Functional Safety Standards 5.11.1 Process Industry 5.11.1.1 I Ec 61508 5.11.1.2 I Ec 61511 5.11.2 Machinery 5.11.2.1 IEC 62061 6 Machine Safety Market, by Component 6.1 Introduction 6.2 Presence Sensing Safety Sensors 6.3 Programmable Safety Systems 6.4 Safety Controllers/Modules/Relays 6.5 Safety Interlock Switches 6.6 Emergency Stop Controls 6.7 Two-Hand Safety Controls 6.8 Market, by Sales Channel 7 Machine Safety Market, by Implementation 7.1 Introduction 7.2 Individual Components 7.2.1 Individual Components are Easy to Install and Control 7.2.2 COVID-19 Impact on Individual Components 7.3 Embedded Components 7.3.1 Embedded Components Offer Better Performance and Advanced Safety for Industrial Machines 7.3.2 COVID-19 Impact on Embedded Components 8 Machine Safety Market, by Application 8.1 Introduction 8.2 Assembly 8.2.1 Assembly Application is Expected to Hold Largest Market Share During Forecast Period 8.3 Robotics 8.3.1 Safety Regulations Mandate Deployment of Machine Safety Systems in Robotics Applications 8.4 Packaging 8.4.1 Increase in Machinery-Related Accidents in Packaging Applications Drives Adoption of Machine Safety Systems 8.5 Material Handling 8.6 Metal Working 8.6.1 Machine Safety Measures are Necessary in Metal Working to Avoid Mechanical Hazards 8.7 Others 9 Machine Safety Market, by Industry 9.1 Introduction 9.2 Aerospace & Defense 9.2.1 Various Automated Processes in Aerospace & Defense Manufacturing Necessitate Deployment of Machine Safety Systems 9.2.2 Impact of COVID-19 on Aerospace & Defense Industry 9.3 Automotive 9.3.1 Automotive Industry Employs Machine Safety to Reduce Risks Associated with Dangerous Process 9.3.2 Impact of COVID-19 on Automotive Industry 9.4 Chemicals 9.4.1 Demand for Safety and Reliability in Chemicals Industry Propels Growth of Market 9.4.2 Impact of COVID-19 on Chemicals Industry 9.5 Energy & Power 9.5.1 Power Industry Uses Machine Safety for Protecting Plants from Hazards 9.5.2 Impact of COVID-19 on Energy & Power Industry 9.6 Food & Beverages 9.6.1 Growing Automation in Food & Beverages Industry Necessitating Machine Safety Systems Deployment 9.6.2 Impact of COVID-19 on Food & Beverages Industry 9.7 Healthcare & Pharmaceuticals 9.7.1 Pharmaceutical Companies Implement Machine Safety to Prevent Potential Hazards 9.7.2 Impact of COVID-19 on Healthcare & Pharmaceuticals Industry 9.8 Metals & Mining 9.8.1 Machine Safety Systems Help to Prevent Hazardous Gas Leakage in Metals & Mining Industry 9.8.2 Impact of COVID-19 on Metals & Mining Industry 9.9 Oil & Gas 9.9.1 Standards Such as Iec 61508 and Iec 61511, and Norwegian Oil & Gas Guideline 070 Mandate Implementation of Machine Safety Equipment in Oil & Gas Industry 9.9.2 Impact of COVID-19 on Oil & Gas Industry 9.10 Semiconductor & Electronics 9.10.1 Safety Light Curtains are Extensively Used in Semiconductor Industry 9.10.2 Impact of COVID-19 on Semiconductor Industry 9.11 Others 9.11.1 Impact of COVID-19 on Other Industries 10 Geographic Analysis 10.1 Introduction 10.2 North America 10.3 Europe 10.4 APAC 10.5 Row 11 Competitive Landscape 11.1 Overview 11.2 Market Share and Revenue Analysis: Machine Safety Market 11.3 Company Evaluation Quadrant 11.3.1 Star 11.3.2 Emerging 11.3.3 Pervasive 11.3.4 Participant 11.4 Strength of Product Portfolio 11.5 Business Strategy Excellence 11.6 Competitive Situation & Trends 11.6.1 Contracts, Agreements, and Partnerships 11.6.2 Product Launches & Developments 12 Company Profiles 12.1 Key Players 12.1.1 Schneider Electric 12.1.2 Honeywell 12.1.3 Abb 12.1.4 Rockwell 12.1.5 Siemens Ag 12.1.6 Omron Corporation 12.1.7 Keyence 12.1.8 Yokogawa 12.1.9 Emerson Electric 12.1.10 General Electric 12.2 Right to Win 12.3 Other Key Players 12.3.1 Balluff GmbH 12.3.2 Banner Engineering 12.3.3 Baumer 12.3.4 Idec 12.3.5 Sick Ag 12.3.6 Mitsubishi Electric 12.3.7 Datalogic 12.3.8 Pepperl+Fuchs 12.3.9 Euchner 12.3.10 Pilz 12.3.11 Leuze Electronics 12.3.12 Fortress Interlocks (Halma plc) 12.3.13 Ka Schmersal 12.3.14 Rockford Systems 13 Appendix 13.1 Discussion Guide - Machine Safety Market 13.2 Knowledge Store: The Subscription Portal 13.3 Available Customizations For more information about this report visit https://www.researchandmarkets.com/r/354x00 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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