Machine Safety Market

Market Insights on Machine Safety covering sales outlook, demand forecast & up-to-date key trends

Machine Safety Market By Component (Presence Sensing Safety Sensors, Safety Interlock Switches, Programmable Safety Systems, Emergency Stop Controls Safety Modules), Industry (Automotive, Food & Beverages, Packaging, Pharmaceuticals, Electronics & Semiconductors) & Region - Forecast to 2021 - 2031

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Machine Safety Market Snapshot

[350 Pages Report] The global machine safety market revenue totaled ~US$ 4.8 Bn in 2020, according to Future Market Insights (FMI). The overall machine safety market is expected to reach ~US$ 9.4 Bn by 2031, growing at 6.4% CAGR.

Factors such as the developments in industry 4.0 and rising incidents of accidents in industries are responsible for driving the machine safety market growth. Industrial safety and functional workplace safety have become a major concerns across process industries.

Owing to this, there has been a rapid rise in demand for safety sensors, emergency stop controls, and safety interlock switches, for safeguarding the workers, industrial control systems and assets.

Machine safety accounts for nearly 60% of the overall industrial safety market. Furthermore, increasing penetration of industrial IoT products will result in higher uptake of machine safety systems in the coming years.

Machine Safety Market Base Year (2020) Value	US$ 4.8 Bn
Machine Safety Market Projected Year (2031) Value	US$ 9.4 Bn
CAGR% (2021-2031)	6.4%

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Machine Safety Market Outlook 2021-2031 Compared to 2016-2020

The global machine safety market is estimated to be valued at around US$ 5.1 Bn in 2021. The demand in the market is expected to rise at a CAGR of nearly 6.4% during the forecast period 2021-2031.

As per FMI, the industrial safety market will grow exponentially in the coming years. Integration of industrial internet of things and greater exposure to cloud, will result in higher demand for advanced industrial safety solutions. Growing demand safer industrial equipment will make machine safety highly sought-after.

Machine Safety Market Download Report Brochure

Consequently, the high demand for asset protection and safety of workers is expected to drive higher sales of machine safety components. As per Future Market Insights (FMI), the global machine safety market size will grow from US$ 5.1 Bn in 2021 to over US$ 9.4 Bn by 2031.

Which are Popular Growth Strategies among Machine Safety Market Players?

Some of the leading machine safety market players are focusing on providing cost effective and flexible solutions for safety of workers and assets. Manufacturers are acknowledging the importance that safety plays in offering them a competitive advantage while building a good public image.

Machine safety systems help in reducing the probability of work-related injuries, thereby augmenting the efficiency of the machine operators. The economic slump has laid an obligation on manufacturers to reduce maintenance and operational costs. Owing to this, there has been immense rise in the demand for advanced machine safety solutions, thereby driving the market growth.

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What Is the Impact of COVID-19 Crisis on Machine Safety Market Growth?

COVID-19 pandemic has impacted every sector. Due to social distancing norms implemented to contain the spread of the virus, organizations moved to digitalization to ensure overall safety employees and staffs.

The COVID-19 outbreak has disrupted many industries, including the machine safety market. Different end-use verticals have suffered heavily as a result of mobility and travel restrictions implemented to protect public health against the infection.

The pandemic has compelled companies to rethink how and where the employees work as well as how to monitor them. This has resulted in increasing reliance on digital services.

Owing to this, there has been rise in demand for solutions in the industrial IoT market, thereby driving the demand for machine safety solutions. Despite lockdown induced slowdown registered in affected countries, the machine safety market witnessed a noteworthy growth from around 4.9% to 5.3% Y-o-Y from 2019 to 2021

Machine Safety Market - Country-wise Insights

Why is the Demand Rising in the U.S. Machine Safety Market?

According to Future Market Insights analysis, the overall machine safety spending in the U.S. alone is likely to increase at a rate of around 7.8% between 2021 and 2031. Rise in demand for safety sensors reported in the industrial safety market will eventually drive the sales in the country.

The growth in the region is primarily being driven by the rising implementation of safety rules and regulations. Worker safety regulations in the U.S. are enforced through the Occupational Safety and Health Administration (OSHA).

OSHA enforces OSHA standards as needed. Below mentioned are a few of the safety standards typically applied to fix industrial machines installed in the U.S.

ANSI B11.0 – Safety of Machinery
ANSI B11.19 – Performance Criteria for Safeguarding
ANSI Z244.1 – Control of Hazardous Energy: Lockout/Tagout & Alternative Methods
ANSI / RIA R15.06 – Safety Requirements for Industrial Robots and Robot Systems
NFPA 79 – Electrical Standard for Industrial Machines

On the other hand, The Canada Labor Code (CLC) governs occupational safety and health in federal works, undertakings and businesses including employment on ships, trains and aircraft while in operation, and employment in the oil and gas industry in Canada Lands.

Implementation of stringent guidelines ascertaining a safe environment across industries will continue driving sales of machine safety components in the U.S. and Canada.

Why is the U.K. Machine Safety Market Considered Lucrative?

The machine safety market in the UK is anticipated to grow at a CAGR of around 7.2% over the forecast period. In recent years, there has been a growing emphasis on personnel and asset protection in European countries including the U.K., France, and Germany. Stringent machinery and equipment safety regulations is another major factor driving the market growth in the region.

European directives are precisely clear and the fundamental principal of the European community is the protection of the health of its citizens, both in the private and in the professional scope.

The European Commission and the Council of the European Union have passed various directives, in accordance with the treaty on the functioning of the European Union, with the aim of achieving free movement of goods and protecting its citizens.

Machinery safety in the UK is primarily driven by two sets of regulations, firstly, Supply of Machinery (Safety) Regulations 2008, as amended by the Supply of Machinery (Safety) (Amendment) Regulations 2011.

These regulations require all machines placed on the market in the Europe to carry a CE mark as described by the European Machinery Directive 2006/42/EC. As per the government of UK, these regulations apply to machinery, interchangeable equipment, safety components, lifting accessories, chains, ropes and webbing, removable mechanical transmission devices, and partly completed machinery.

Secondly, Provision and Use of Work Equipment Regulations 1998. These regulations place duties on people and companies who operate, own, or have control over the work equipment. They also position the U.K. as a key market within Europe.

What is Driving Demand in China Machine Safety Market?

According to the Future Market Insights analysis, the machine safety market in China is likely to grow at a CAGR of nearly 8.9% from 2021 and 2031. It is expected to remain the fastest growing market in East Asia. As per FMI, China recorded around 40% of total sales in the region in 2020.

Ongoing improvements in technical safety standards, coupled with strengthening personal safety awareness, are accelerating the market growth in the country. Furthermore, with increasing interactions between machines and humans, safety is considered to be an essential factor. Demand for intelligent safety solutions has been on the rise. Increasing number of consumers are demanding real-time monitoring on machines as they are looking for new ways to improve safety of industrial equipment.

For on-site workers in China, safety services are increasingly demanded by large manufacturers. The “Made in China 2025” policy of Chinese government is focused on advanced manufacturing, thereby driving the need for advanced machine safety solutions in the region.

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Machine Safety Market - Category-wise Insights

Which is the Top-selling Machine Safety Component?

On the basis of component, the market is segmented into presence sensing safety sensors; safety interlock switches (electromechanical, hinged pin, limit, non-contact, tongue, and, trapped key), programmable safety systems, safety modules, emergency stop controls, and others. Of these, the presence sensing safety sensors segment is anticipated to hold the largest share in the market. The growth of the segment can be attributed to the growing security requirements for protecting production units and workers from any accidents.

Factors such as the industrial revolution 4.0, rising incidents of accidents in industries, and growing need for safety light curtains in the packaging industry powered by robotics, are the also responsible for driving the demand for presence sensing safety sensors market.

Who is the Leading End User in Machine Safety Market?

In terms of Industry, the market is segmented as automotive, food & beverages, packaging, material processing, pharmaceuticals, electronics & semiconductors, and others. As per FMI, the automotive segment is anticipated to hold the largest market share.

The automotive segment is estimated to account for more than 22% of the total value share by the end of 2021. With the increasing improvement in safety devices such as safety curtains and digital indicators, demand is expected to grow in the automotive sector. However, the food & beverages segment is anticipated to grow at the highest CAGR over the forecast period.

Machine Safety Market - Competitive Landscape

Companies operating in the market are aiming at innovation and strategic partnerships with other vendors in order to expand their portfolio of services while addressing the demand from an expanding customer pool. For instance:

In October 2021, OMRON Corporation announced the launch of its new inspection system, the VT-S10 Series. The new inspection system makes use of artificial intelligence and imaging technology in order to automate high-precision processes for PCB sub-assemblies, thereby eliminating the need for specialist operator skills. The newly launched system shall help in ensuring the security and safety of the production.
In June 2019, Schneider Electric, announced the launch of Smart Factory in the US, in order to exhibit how its EcoStruxure architecture and related suite of offerings can reduce costs for its customers and support increasing operational efficiency.

Market players are also focusing on entering into partnerships with other solution providers to target new innovations within the market. The strategy helps companies to broaden their geographic reach with additional service portfolios.

Machine Safety Market - Scope of Report

Attribute	Details
Market value in 2021	US$ 5.1 Bn
Market CAGR 2021 to 2031	6.4%
Share of top 5 players	Around 40%
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	USD Million for Value
Key Regions Covered	North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa
Key Countries Covered	US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa
Key Segments Covered	Component, Industry, and Region
Key Companies Profiled	ABB Ltd. Emerson Electric Co. General Electric Co. Honeywell International Inc. Schneider Electric SE Rockwell Automation, Inc. Siemens AG Yokogawa Electric Corp. Omron Corporation Keyence Corporation Mitsubishi Electric Corporation Pilz GmbH & Co. KG Sick AG Balluff GmbH Banner Engineering Corp.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Key Points Covered in Machine Safety Industry Survey

Which region is expected to showcase high demand for machine safety?

South Asia & Pacific is projected to register strong growth in the market, exhibiting a CAGR of nearly 7.5% during the forecast period.
Who are some of the leading companies offering machine safety?

ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Schneider Electric SE, and Siemens AG, among others, are the top machine safety solution and service providers. They are likely to account for over 40% of the global market.
Who is the leading end user in the machine safety market?

Automotive segment is expected to dominate the market over the forecast period, generating a maximum revenue among all by the end of 2021.
How much is the global machine safety market worth?

The market for machine safety was valued at ~US$ 4.8 Bn in 2020, and is estimated to grow at an exceptional pace at a CAGR of around 6.4% to reach ~US$ 9.4 Bn in 2031.
What is machine safety market demand outlook?

The sales of machine safety are expected to total ~US$ 5.1 Bn by the end of 2021.
At what rate did the machine safety market grow in the last five years?

The market in last 5 years (2016 – 2020) grew by a CAGR of around 4.8%.
What are the key trends in the machine safety market?

Growing demand for advanced machine safety solutions and services happens to be one of the key trends driving the market growth.
What is driving demand in the machine safety market?

Increasing demand for worker safety and asset protection solutions will remain the key factors driving the market.
Which countries are key providers of machine safety?

Some of the leading countries involved in providing machine safety include the U.S., China, Germany, U.K., and India
What was the global machine safety market growth between 2020 and 2021?

The global market growth between 2020 and 2021 was recorded at nearly 5.2%.
Which are the top 5 countries driving machine safety demand?

Leading countries driving demand for the machine safety are U.S., UK, China, Japan, and Germany.
What is Europe machine safety market outlook?

The Europe market is expected to rise at a CAGR of around 6.2% between 2021 and 2031.
What is the machine safety market statistics in South Korea and Japan?

The demand in Japan and South Korea is expected to rise at around 7.5% CAGR and 6.2% CAGR, respectively through 2031.

Machine Safety Outlook by Category

By Component:

Presence Sensing Safety Sensors
Safety Interlock Switches
- Electromechanical
- Hinged Pin
- Limit
- Non-Contact
- Tongue
- Trapped Key
Programmable Safety Systems
Safety Modules
Emergency Stop Controls
Others

By Industry:

Automotive
Food & Beverages
Packaging
Material Processing
Pharmaceuticals
Electronics & Semiconductors
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

Frequently Asked Questions

What is the Demand Analysis for Machine Safety?

Demand for machine safety is likely to grow at a CAGR of 6.2% through 2032.

How much Valuation can be Expected by 2032?

The machine safety market size is expected to be US$ 10 Bn by 2032.

How much is the Growth Potential of the Machine Safety Market?

The machine safety market share is likely to grow by over US$ 5.5 Bn in 2022.

Which Region is the Key Machine Safety Market Contributor?

South Asia & Pacific is the key machine safety market contributor.

Table of Content

1. Executive Summary

1.1. Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Trends Impacting the Market

3.1. Key Trends Impacting the Market

3.2. Rules and Regulations

4. - Pricing Analysis

4.1. Pricing Analysis, By Solution

4.2. Average Pricing Analysis Benchmark

5. COVID-19 Pandemic Crisis Impact Analysis

5.1. Impact of COVID-19 Pandemic Crisis on Market

5.1.1. Pre-COVID-19 Market Growth Analysis

5.1.2. Post-COVID-19 Market Growth Analysis

5.2. Expected Recovery Scenario (Short Term/Mid Term/Long Term)

5.3. Key Action Points for Solution Providers

6. Market Structure Analysis

6.1. Market Analysis by Tier of Companies

6.2. Market Share Analysis of Top Players

6.3. Market Presence Analysis, By Regional Footprint by Vendors

7. Global Market Demand (in Value or Size in US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031

7.1. Historical Market Value (US$ Mn) Analysis, 2016-2020

7.2. Current and Future Market Value (US$ Mn) Projections, 2021-2031

7.2.1. Y-o-Y Growth Trend Analysis

7.2.2. Absolute $ Opportunity Analysis

8. Market Background

8.1. Macro-Economic Factors

8.2. Forecast Factors - Relevance & Impact

8.3. Market Dynamics

8.3.1. Drivers

8.3.2. Restraints

8.3.3. Opportunity Analysis

9. Global Market Analysis 2016-2020 and Forecast 2021-2031, By Component

9.1. Introduction / Key Findings

9.2. Historical Market Size (US$ Mn) Analysis By Component, 2016 - 2020

9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Component, 2021 - 2031

9.3.1. Presence Sensing Safety Sensors

9.3.2. Safety Interlock Switches

9.3.2.1. Electromechanical

9.3.2.2. Hinged Pin

9.3.2.3. Limit

9.3.2.4. Non-Contact

9.3.2.5. Tongue

9.3.2.6. Trapped Key

9.3.3. Programmable Safety System

9.3.4. Safety Modules

9.3.5. Emergency stop controls

9.3.6. Others

9.4. Market Attractiveness Analysis By Component

10. Global Market Analysis 2016-2020 and Forecast 2021-2031, By Industry

10.1. Introduction / Key Findings

10.2. Historical Market Size (US$ Mn) Analysis By Industry, 2016 - 2020

10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Industry, 2021 - 2031

10.3.1. Automotive

10.3.2. Food & Beverages

10.3.3. Packaging

10.3.4. Material Processing

10.3.5. Pharmaceuticals

10.3.6. Electronics & Semiconductors

10.3.7. Others

10.4. Market Attractiveness Analysis By Industry

11. Global Market Analysis 2016-2020 and Forecast 2021-2031, by Region

11.1. Introduction / Key Findings

11.2. Historical Market Size (US$ Mn) Analysis By Region, 2016 - 2020

11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2021 - 2031

11.3.1. North America

11.3.2. Latin America

11.3.3. Europe

11.3.4. East Asia

11.3.5. South Asia and Pacific

11.3.6. Middle East and Africa (MEA)

11.4. Market Attractiveness Analysis By Region

12. North America Market Analysis 2016-2020 and Forecast 2021-2031

12.1. Introduction / Key Findings

12.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2016 - 2020

12.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031

12.3.1. By Country

12.3.1.1. U.S.

12.3.1.2. Canada

12.3.2. By Component

12.3.3. By Industry

12.4. Market Attractiveness Analysis

12.4.1. By Country

12.4.2. By Component

12.4.3. By Industry

12.5. Key Market Trends

13. Latin America Market Analysis 2016-2020 and Forecast 2021-2031

13.1. Introduction / Key Findings

13.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2016 - 2020

13.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031

13.3.1. By Country

13.3.1.1. Brazil

13.3.1.2. Mexico

13.3.1.3. Rest of Latin America

13.3.2. By Component

13.3.3. By Industry

13.4. Market Attractiveness Analysis

13.4.1. By Country

13.4.2. By Component

13.4.3. By Industry

13.5. Key Market Trends

14. Europe Market Analysis 2016-2020 and Forecast 2021-2031

14.1. Introduction / Key Findings

14.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2016 - 2020

14.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031

14.3.1. By Country

14.3.1.1. UK

14.3.1.2. France

14.3.1.3. Germany

14.3.1.4. Italy

14.3.1.5. Spain

14.3.1.6. BENELUX

14.3.1.7. Russia

14.3.1.8. Rest of Europe

14.3.2. By Component

14.3.3. By Industry

14.4. Market Attractiveness Analysis

14.4.1. By Country

14.4.2. By Component

14.4.3. By Industry

14.5. Key Market Trends

15. East Asia Market Analysis 2016-2020 and Forecast 2021-2031

15.1. Introduction / Key Findings

15.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2016 - 2020

15.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031

15.3.1. By Country

15.3.1.1. China

15.3.1.2. Japan

15.3.1.3. South Korea

15.3.2. By Component

15.3.3. By Industry

15.4. Market Attractiveness Analysis

15.4.1. By Country

15.4.2. By Component

15.4.3. By Industry

15.5. Key Market Trends

16. South Asia and Pacific Market Analysis 2016-2020 and Forecast 2021-2031

16.1. Introduction / Key Findings

16.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2016 - 2020

16.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031

16.3.1. By Country

16.3.1.1. India

16.3.1.2. Thailand

16.3.1.3. Indonesia

16.3.1.4. Malaysia

16.3.1.5. Australia & New Zealand

16.3.1.6. Rest of South Asia

16.3.2. By Component

16.3.3. By Industry

16.4. Market Attractiveness Analysis

16.4.1. By Country

16.4.2. By Component

16.4.3. By Industry

16.5. Key Market Trends

17. Middle East and Africa Market Analysis 2016-2020 and Forecast 2021-2031

17.1. Introduction / Key Findings

17.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2016 - 2020

17.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2021 - 2031

17.3.1. By Country

17.3.1.1. GCC Countries

17.3.1.2. Turkey

17.3.1.3. South Africa

17.3.1.4. Northern Africa

17.3.1.5. Rest of Middle East and Africa

17.3.2. By Component

17.3.3. By Industry

17.4. Market Attractiveness Analysis

17.4.1. By Country

17.4.2. By Component

17.4.3. By Industry

17.5. Key Market Trends

18. Key Country Opportunity Analysis- Market

18.1. U.S. Market Opportunity Analysis

18.1.1. By Component

18.1.2. By Industry

18.2. Canada Market Opportunity Analysis

18.2.1. By Component

18.2.2. By Industry

18.3. Brazil Market Opportunity Analysis

18.3.1. By Component

18.3.2. By Industry

18.4. Mexico Market Opportunity Analysis

18.4.1. By Component

18.4.2. By Industry

18.5. UK Market Opportunity Analysis

18.5.1. By Component

18.5.2. By Industry

18.6. Germany Market Opportunity Analysis

18.6.1. By Component

18.6.2. By Industry

18.7. France Market Opportunity Analysis

18.7.1. By Component

18.7.2. By Industry

18.8. Spain Market Opportunity Analysis

18.8.1. By Component

18.8.2. By Industry

18.9. Italy Market Opportunity Analysis

18.9.1. By Component

18.9.2. By Industry

18.10. BENELUX Market Opportunity Analysis

18.10.1. By Component

18.10.2. By Industry

18.11. Russia Market Opportunity Analysis

18.11.1. By Component

18.11.2. By Industry

18.12. China Market Opportunity Analysis

18.12.1. By Component

18.12.2. By Industry

18.13. Japan Market Opportunity Analysis

18.13.1. By Component

18.13.2. By Industry

18.14. South Korea Market Opportunity Analysis

18.14.1. By Component

18.14.2. By Industry

18.15. India Market Opportunity Analysis

18.15.1. By Component

18.15.2. By Industry

18.16. Singapore Market Opportunity Analysis

18.16.1. By Component

18.16.2. By Industry

18.17. Indonesia Market Opportunity Analysis

18.17.1. By Component

18.17.2. By Industry

18.18. Thailand Market Opportunity Analysis

18.18.1. By Component

18.18.2. By Industry

18.19. Australia & New Zealand Market Opportunity Analysis

18.19.1. By Component

18.19.2. By Industry

18.20. GCC Countries Market Opportunity Analysis

18.20.1. By Component

18.20.2. By Industry

18.21. Turkey Market Opportunity Analysis

18.21.1. By Component

18.21.2. By Industry

18.22. South Africa Market Opportunity Analysis

18.22.1. By Component

18.22.2. By Industry

18.23. Northern Africa Market Opportunity Analysis

18.23.1. By Component

18.23.2. By Industry

19. Competition Analysis

19.1. Competition Dashboard for Key Vendors

19.2. Competition Deep Dive

19.2.1. ABB Ltd.

19.2.1.1. Business Overview

19.2.1.2. Component/Service Portfolio

19.2.1.3. Profitability by Market Segments (Business Segment/Region)

19.2.1.4. Market Developments

19.2.1.5. Strategy Overview

19.2.2. Emerson Electric Co.

19.2.2.1. Business Overview

19.2.2.2. Component/Service Portfolio

19.2.2.3. Profitability by Market Segments (Business Segment/Region)

19.2.2.4. Market Developments

19.2.2.5. Strategy Overview

19.2.3. General Electric Co.

19.2.3.1. Business Overview

19.2.3.2. Component/Service Portfolio

19.2.3.3. Profitability by Market Segments (Business Segment/Region)

19.2.3.4. Market Developments

19.2.3.5. Strategy Overview

19.2.4. Honeywell International Inc.

19.2.4.1. Business Overview

19.2.4.2. Component/Service Portfolio

19.2.4.3. Profitability by Market Segments (Business Segment/Region)

19.2.4.4. Market Developments

19.2.4.5. Strategy Overview

19.2.5. Schneider Electric SE

19.2.5.1. Business Overview

19.2.5.2. Component/Service Portfolio

19.2.5.3. Profitability by Market Segments (Business Segment/Region)

19.2.5.4. Market Developments

19.2.5.5. Strategy Overview

19.2.6. Rockwell Automation, Inc.

19.2.6.1. Business Overview

19.2.6.2. Component/Service Portfolio

19.2.6.3. Profitability by Market Segments (Business Segment/Region)

19.2.6.4. Market Developments

19.2.6.5. Strategy Overview

19.2.7. Siemens AG

19.2.7.1. Business Overview

19.2.7.2. Component/Service Portfolio

19.2.7.3. Profitability by Market Segments (Business Segment/Region)

19.2.7.4. Market Developments

19.2.7.5. Strategy Overview

19.2.8. Yokogawa Electric Corp.

19.2.8.1. Business Overview

19.2.8.2. Component/Service Portfolio

19.2.8.3. Profitability by Market Segments (Business Segment/Region)

19.2.8.4. Market Developments

19.2.8.5. Strategy Overview

19.2.9. Omron Corporation

19.2.9.1. Business Overview

19.2.9.2. Component/Service Portfolio

19.2.9.3. Profitability by Market Segments (Business Segment/Region)

19.2.9.4. Market Developments

19.2.9.5. Strategy Overview

19.2.10. Keyence Corporation

19.2.10.1. Business Overview

19.2.10.2. Component/Service Portfolio

19.2.10.3. Profitability by Market Segments (Business Segment/Region)

19.2.10.4. Market Developments

19.2.10.5. Strategy Overview

19.2.11. Mitsubishi Electric Corporation

19.2.11.1. Business Overview

19.2.11.2. Component/Service Portfolio

19.2.11.3. Profitability by Market Segments (Business Segment/Region)

19.2.11.4. Market Developments

19.2.11.5. Strategy Overview

19.2.12. Pilz GmbH & Co. KG

19.2.12.1. Business Overview

19.2.12.2. Component/Service Portfolio

19.2.12.3. Profitability by Market Segments (Business Segment/Region)

19.2.12.4. Market Developments

19.2.12.5. Strategy Overview

19.2.13. Sick AG

19.2.13.1. Business Overview

19.2.13.2. Component/Service Portfolio

19.2.13.3. Profitability by Market Segments (Business Segment/Region)

19.2.13.4. Market Developments

19.2.13.5. Strategy Overview

19.2.14. Balluff GmbH

19.2.14.1. Business Overview

19.2.14.2. Component/Service Portfolio

19.2.14.3. Profitability by Market Segments (Business Segment/Region)

19.2.14.4. Market Developments

19.2.14.5. Strategy Overview

19.2.15. Banner Engineering Corp.

19.2.15.1. Business Overview

19.2.15.2. Component/Service Portfolio

19.2.15.3. Profitability by Market Segments (Business Segment/Region)

19.2.15.4. Market Developments

19.2.15.5. Strategy Overview

20. Assumptions and Acronyms Used

21. Research Methodology

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List of Tables

Table 01: Global Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 02: Global Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 03: Global Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Region

Table 04: North America Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 05: North America Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 06: North America Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Country

Table 07: Global Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 08: Latin America Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 09: Latin America Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Country

Table 10: Europe Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 11: Europe Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 12: Europe Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Country

Table 13: South Asia & Pacific Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 14: South Asia & Pacific Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 15: South Asia & Pacific Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Country

Table 16: East Asia Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 17: East Asia Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 18: East Asia Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Country

Table 19: Middle East and Africa Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Component

Table 20: Middle East and Africa Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Industry

Table 21: Middle East and Africa Market Value (in US$ Mn) Analysis and Forecast (2021 – 2031) by Country

Sudip Saha

Principal Consultant

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List of Charts

Figure 01: Global Market Size (US$ Mn) and Y-o-Y Growth Rate from 2021-2031

Figure 02: Global Market Size and Y-o-Y Growth Rate from 2021-2031

Figure 03: Global Market Value (US$ Mn), 2016-2020

Figure 04: Global Market Value (US$ Mn), 2021-2031

Figure 05: Global Market Value Share (2021 – 2031) by Component

Figure 06: Global Market Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 07: Global Market Attractiveness by Component

Figure 08: Global Market Value Share and BPS Analysis (2021 – 2031) by Industry

Figure 09: Global Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 10: Global Market Attractiveness by Industry

Figure 11: Global Market Value Share (2021 – 2031) by Region

Figure 12: Global Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Region

Figure 13: Global Market Attractiveness by Region

Figure 14: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in North America

Figure 15: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Latin America

Figure 16: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Europe

Figure 17: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in South Asia & Pacific

Figure 18: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in East Asia

Figure 19: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Middle East and Africa

Figure 20: North America Market Value (US$ Mn), 2016-2020

Figure 21: North America Market Value (US$ Mn), 2021-2031

Figure 22: North America Market Value Share (2021 – 2031) by Component

Figure 23: North America Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 24: North America Market Attractiveness by Component

Figure 25: North America Market Value Share (2021 – 2031) by Industry

Figure 26: North America Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 27: North America Market Attractiveness by Industry

Figure 28: North America Market Value Share (2021 – 2031) by Country

Figure 29: North America Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Country

Figure 30: North America Market Attractiveness by Country

Figure 31: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in U.S.

Figure 32: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Canada

Figure 33: Latin America Market Value (US$ Mn), 2016-2020

Figure 34: Latin America Market Value (US$ Mn), 2021-2031

Figure 35: Latin America Market Value Share (2021 – 2031) by Component

Figure 36: Latin America Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 37: Latin America Market Attractiveness by Component

Figure 38: Latin America Market Value Share (2021 – 2031) by Industry

Figure 39: Latin America Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 40: Latin America Market Attractiveness by Industry

Figure 41: Latin America Market Value Share (2021 – 2031) by Country

Figure 42: Latin America Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Country

Figure 43: Latin America Market Attractiveness by Country

Figure 44: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Brazil

Figure 45: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Mexico

Figure 46: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Rest of Latin America

Figure 47: Europe Market Value (US$ Mn), 2016-2020

Figure 48: Europe Market Value (US$ Mn), 2021-2031

Figure 49: Europe Market Value Share (2021 – 2031) by Component

Figure 50: Europe Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 51: Europe Market Attractiveness by Component

Figure 52: Europe Market Value Share (2021 – 2031) by Industry

Figure 53: Europe Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 54: Europe Market Attractiveness by Industry

Figure 55: Europe Market Value Share (2021 – 2031) by Country

Figure 56: Europe Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Country

Figure 57: Europe Market Attractiveness by Country

Figure 58: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Germany

Figure 59: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Italy

Figure 60: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in France

Figure 61: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in U.K.

Figure 62: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Spain

Figure 63: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in BENELUX

Figure 64: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Russia

Figure 65: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Rest of Europe

Figure 66: South Asia & Pacific Market Value (US$ Mn), 2016-2020

Figure 67: South Asia & Pacific Market Value (US$ Mn), 2021-2031

Figure 68: South Asia & Pacific Market Value Share (2021 – 2031) by Component

Figure 69: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 70: South Asia & Pacific Market Attractiveness by Component

Figure 71: South Asia & Pacific Market Value Share (2021 – 2031) by Industry

Figure 72: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 73: South Asia & Pacific Market Attractiveness by Industry

Figure 74: South Asia & Pacific Market Value Share (2021 – 2031) by Country

Figure 75: South Asia & Pacific Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Country

Figure 76: South Asia & Pacific Market Attractiveness by Country

Figure 77: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in India

Figure 78: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Singapore

Figure 79: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Indonesia

Figure 80: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Singapore

Figure 81: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Australia & New Zealand

Figure 82: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Rest of South Asia & Pacific

Figure 83: East Asia Market Value (US$ Mn), 2016-2020

Figure 84: East Asia Market Value (US$ Mn), 2021-2031

Figure 85: East Asia Market Value Share (2021 – 2031) by Component

Figure 86: East Asia Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 87: East Asia Market Attractiveness by Component

Figure 88: East Asia Market Value Share (2021 – 2031) by Industry

Figure 89: East Asia Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 90: East Asia Market Attractiveness by Industry

Figure 91: East Asia Market Value Share (2021 – 2031) by Country

Figure 92: East Asia Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Country

Figure 93: East Asia Market Attractiveness by Country

Figure 94: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in China

Figure 95: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Japan

Figure 96: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in South Korea

Figure 97: Middle East and Africa Market Value (US$ Mn), 2016-2020

Figure 98: Middle East and Africa Market Value (US$ Mn), 2021-2031

Figure 99: Middle East and Africa Market Value Share (2021 – 2031) by Component

Figure 100: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Component

Figure 101: Middle East and Africa Market Attractiveness by Component

Figure 102: Middle East and Africa Market Value Share (2021 – 2031) by Industry

Figure 103: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Industry

Figure 104: Middle East and Africa Market Attractiveness by Industry

Figure 105: Middle East and Africa Market Value Share (2021 – 2031) by Country

Figure 106: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2021 – 2031) by Country

Figure 107: Middle East and Africa Market Attractiveness by Country

Figure 108: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in GCC Countries

Figure 109: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Turkey

Figure 110: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in South Africa

Figure 111: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Northern Africa

Figure 112: Market – Incremental Opportunity Analysis and Forecast (US$ Mn) in Rest of Middle East and Africa

Figure 113: U.S. Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 114: Canada Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 115: Brazil Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 116: Mexico Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 117: Germany Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 118: Italy Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 119: France Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 120: UK Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 121: Spain Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 122: Benelux Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 123: Russia Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 124: China Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 125: Japan Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 126: South Korea Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 127: India Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 128: Singapore Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 129: Indonesia Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 130: Malaysia Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 131: Australia and New Zealand Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 132: GCC Countries Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 133: Turkey Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 134: South Africa Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031

Figure 135: Northern Africa Incremental Opportunity (US$ Mn) Analysis, 2021 – 2031