The study provides an in-depth analysis of the global machine safeguarding market to elucidate the prominent investment pockets from 2016 to 2023 and Current trends and future estimations are outlined to determine the overall market scenario.
Machine safeguarding solution is an important aid to safeguard a machine and its operator from any hazard or unwanted movement of machine. Moreover, industrial revolution and rise in complex machine components boost the market growth.
In industrial sector, workers are continuously engaged working on machines leading to several risks, which propels the need for machine safeguarding solutions. Thus, a major thrust is provided to the market, which is expected to grow exponentially during the forecast period.
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The global machine safeguarding solutions market is driven by increase in manufacturing & production, stringent government regulations for workplace security, and rise in demand of safety equipment globally. However, high cost of these systems restrains the growth of the market.
Moreover, updating regulations by safety & regulatory bodies globally is expected to provide new opportunities in the market.
The machine safeguarding solution market is segmented based on component, industry vertical, and geography.
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Based on component, it is categorized into sensors, controllers, switches, and others. Based on the industry vertical, it is classified into manufacturing, automotive, mining, healthcare, and others.
Geographically, it is analyzed across (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, Taiwan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The major players profiled in the report include ABB, Honeywell International Inc., Rockwell Automation, Inc., Siemens AG, Rockford Systems, LLC., Procter Bros Ltd., Uniguard Machine Guards, Banner Engineering Corp., OMRON Scientific Technologies, Inc., and Faztek, LLC.
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