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Global Machine Safety Market Snapshot (2023 to 2033)

Anticipated size of the global machine safety market in 2022 was US$ 5,122.3 million and is estimated to be US$ 5,378.4 million in 2023. Rise in demand for global machine safety in the end-use industries like automotive, semiconductors, food and beverage, etc be credited for the market expansion. Reports of Future Market Insights have mentioned that the market will expand at a CAGR of 6.6% between 2023 and 2033, totaling around US$ 10,222.9 million by 2033.

Global market for machine safety systems has cataloged a huge amount of growth in recent years and the market's growth is associated with factors that led to a rise in workplace accidents or in boosting the intensity of ardent industrial safety, leading to increased attention on machine safety.

Considerably additional costs are said to be linked with the safety of the machine technologies that may lead to the imposition of the market's growth.

Global machine safety market has eyewitnessed compelling growth over the last few years that owes to the rising insistence on safety in the industrial sector which is assisted by strong government regulations. Functional safety has experienced a prediction from the switches of mechanical interlock to contemporary programmable safety that is nowadays become more budget-friendly attributed to efforts taken by semiconductor companies in the reduction of the average price of basic chips and circuits. Key end-use industries in the global market for machine safety are increasing due to the rise in demand for machine-safeguarding solutions that are considered to be used in end-use industries like automotive, semiconductor, food and beverage, electronics, etc.

Manufacturers are also on the verge of recognizing the relevance of safety that is majorly played in making a good public image which can equally give them a competitive advantage, and lastly, give them an option of opting for machine safety systems. Declination of the money economy has mainly forced the manufacturers to reduce the operation and maintenance costs, thus leading to falling in investments in secondary domains for plant operation, which subsequently includes the safety of the machines. Non-cohesion of safety policies in developing countries acts as a barrier to investment in safety systems, which will consequently result in a lowering of sales and slow technological development.

Attributes Details
Projected Forecast Value (2022) US$ 5,122.3 million
Projected Forecast Value (2023) US$ 5,378.4 million
Projected Forecast Value (2033) US$ 10,222.9 million
Growth rate 6.6% CAGR
Forecast period 2023 to 2033

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Machine Safety Market Historical Analysis (2018 To 2022) Vs. Forecast Outlook (2023 To 2033)

Global machine safety market grew at a CAGR of 4.5% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 6.6% between 2023 and 2033.

FMI mentions that the safety of the industrial market that will exponentially grow in the future. Amalgamation of the industrial Internet of Things and greater exposure to the cloud will subsequently result in rising demand for advanced industrial safety solutions. Growth in demand for safer industrial equipment will tend to make machine safety highly sought-after.

High demand for the protection of assets and the safety of its workers is expected to drive higher sales of machine safety components.

What Factors are Primarily Driving the Market Growth Strategies in the Machine Safety Market?

Focus on the Provision of Cost-effective and Flexible Solutions likely to be Beneficial for the Market Growth

Leading machine safety market players are focusing on providing cost-effective and flexible solutions for the 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. Economic slump has laid an obligation on manufacturers to reduce maintenance and operational costs, also owing to this, there has been an immense rise in the demand for advanced machine safety solutions, thereby driving market growth.

Increase in Demand for Oil & Gas and Power Generation in India

India is considered to be a developing country, therefore, demand for oil & gas and power generation will naturally rise as new ways of adopting safety automation are being introduced. Such situations lead to significant and rapid industrialization contributing to the growth of the market.

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Region-wise Analysis

How is the Machine Safety Market Faring in United States?

Increase in the Usage of Safety Sensors will Lead to a Boost in the Market Demand

Analysts of Future Market Insights have mentioned, that the overall machine safety spending in the North American region is said to have a market share of 28.8% whereas the United States alone is likely to increase at a rate of around 16.7% during the forecast period. Rise in demand for safety sensors reported in the industrial safety market will eventually drive sales in the country.

How is the United Kingdom Contributing to the Growth of the Machine Safety Market?

European Region to Hold a Lucrative Position in the Market

United Kingdom is said to have a growth in the market for machine safety systems with a CAGR of 6.9% during the forecast period.

European region is anticipated to said to hold a market share for machine safety systems of 22.1%. Demand for machine safety systems is high in this region due to the availability of safeguards of the safety machinery that eventually leads to profit harmonization, thus raising the demand for safety personnel in various companies.

How is the Demand For Machine Safety Affecting the Growth of Germany?

Rising Demand for automotive in Germany is Said to Push the Market

Germany is expected to hold a market share of 8.1% which is considered to be conducive to the machine safety market. Demand for automotive products in Germany is said to be rising due to the increase in disposable income of the people leading to an increase in demand for machine safety systems.

How is Japan Contributing to the Growth of the Machine Safety Market?

Trend towards Food and Beverage is Likely to Open up New Opportunities in Japan

Future Market Insights analysts say that the machine safety market in Japan is likely to hold a market share of 4.3% during the forecast period. Japan is considered to be one of the technology-driven countries where the food and beverage sector is said to be high in demand with the incorporation to improve the experiences of the consumer.

How will Australia Play in Important Part in Machine Safety Market?

Health and Safety are Given an Utmost Importance in Australia in Machine Safety Market

Australian market for machine safety systems is considered to hold a market share of 2.1%.

Australian laws for health and safety lead to the demand for the machine safety market as designers and manufacturers are required to ensure fairly achievable machinery that is designed and manufactured in such a way that would provide adequate health and safety to its workers.

What are the Factors Driving the Growth of Machine Safety Market in China?

Improvements in the Technical Safety Standards in China are Raising the Demand for Machine Safety Market

Chinese market for machine safety systems is said to grow at a CAGR of 6.4% during the forecast period where ongoing improvements are taking place frequently by improving the personal safety awareness of its people as a lot of awareness is required with the rise in interactions of machines and human beings, considering safety to be mostly prioritized.

How will the Indian Market for Machine Safety Grow in Coming Years?

Enhancement of Overall Sales in Machine Safety Market in India

India is expected to develop at a CAGR of 8.3% over the forecast period which is difficult for machine safety companies to invade the market since India is considered to be a price-sensitive market. it will be difficult for the manufacturers of machine safety to increase the demand of the machine safety systems

Comparative View of the Adjacent Market

Machine Safety Market:

Attributes Machine Safety Market
CAGR (2023 to 2033) 6.6%
Market Value 2023 US$ 5,378.4 million
Growth Factor The industry has been more well-known in recent years as a result of the rising demand for safety guards and barriers, sensors, and energy-stop buttons
Future Opportunities Sales of the machine safety market will increase as a result of rise in demand of the industrial Internet of Things.
Market trends Consumers are on the verge of introducing new factories as a result to generate rapid industrialization.

Food Additives Market:

Attributes Food Additives Market
CAGR (2023 to 2033) 6.6%
Market Value 2023 US$ 2.44 billion
Growth Factor The companies are expanding their sales by increasing the food additives for enticing the taste and flavor of food.
Future Opportunities Healthy food additives are being promoted by food and beverage firms.
Market trends Growth in demand for preservatives by adopting micro-encapsulation techniques.

Packaging Automation Market:

Attributes Packaging Automation Market
CAGR (2023 to 2033) 8.05%
Market Value 2023 US$ 74.53 billion
Growth Factor Expeditious expansion in online retail sector
Future Opportunities Growth in the financial and technical support is provided for the creation of automated laboratories
Market trends Huge expansion is found in the pharmaceutical sector for reconsidering the packaging market

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Category-wise Insights

Which Component Holds the Maximum Share?

Presence Sensing Safety Sensors Component are Considered to have a Lucrative Position in the Market

Presence sensing safety sensors is said to hold a major position in the market with a share of holding the market value of 20.7%.

Growth of the presence sensing safety sensors segment is mainly because of the growth in security requirements that are needed to protect production units and workers from any accidents caused.

Working in such an industry will tend to increase accidents in industries, thus, the need for growing safety light curtains to be powered by robotics, is also responsible for driving the demand for presence sensing safety sensors market.

Which Industry is Said to Hold the Maximum Share of the Machine Safety Market?

Automotive Segment is Estimated to have a Major Share of the Market

Automotive segment is the most preferred industrial segment in the machine safety market and is said to have a market share of 19.2%

Robust growth in the improvement of safety devices for example- safety curtains and digital indicators, has eventually led to the growth in demand in the automotive sector.

Competitive Landscape

Some of the prominent players in the global market are-

  • 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.

Some of the important developments of the key players in the market are:

  • In May 2023, Japan's Omron (6645.T) will invest 1.28 billion Indian rupees ($15.5 million) in its first medical device factory in India in the southern state of Tamil Nadu, the local government said, the latest foreign manufacturer to set up operations in the region.
  • In January 2023, Schneider Electric, the leader in the digital transformation of energy management and automation, unveiled Schneider Home – a first-of-its-kind home energy management solution for homeowners seeking savings, comfort, and energy independence – today at the Consumer Electronics Show (CES) in Las Vegas
  • In May 2023, Honeywell International Inc. introduced new products and enhanced applications for its Honeywell Forge Performance+ software suite that is aimed at increasing productivity and driving key digitalization outcomes.

Report Scope

Report Attribute Details
Growth Rate CAGR of 6.6% from 2023 to 2033
Market value in 2023 US$ 5,378.4 million
Market value in 2033 US$ 10,222.9 million
Base Year for Estimation 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units US$ million for Value and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • By Country
  • By Component
  • By Industry
Regions Covered
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa
Key Countries Profiled
  • United States
  • Canada
  • Brazil
  • Mexico
  • Rest of Latin America
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • Rest of Europe
  • China
  • Japan
  • South Korea
  • Singapore
  • Thailand
  • Indonesia
  • Australia
  • New Zealand
  • Rest of Asia Pacific
  • GCC countries
  • South Africa
  • Israel
  • Rest of MEA
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.
Customisation Scope Available on Request

Key Segments Covered in Machine Safety Industry

Country:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

Product:

  • Presence Sensing Safety Sensors
  • Safety Interlock Switches
    • Electromechanical
    • Hinged Pin
    • Limit
    • Non-Contact
    • Tongue
    • Trapped Key

Industry:

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

Frequently Asked Questions

Where is the Higher Demand for Machine Safety?

The North America region generated maximum revenue of the global demand in 2022.

Which Country May Witness Higher Growth?

The United States is estimated to grow at 28.8% of share through 2033.

Which is the Preferred Component Type?

Presence sensing safety sensors segment contributes a maximum share in the global market.

Which End-use Sector is Securing Maximum Revenue?

The automotive sector holds a maximum revenue of the global market share.

How the Machine Safety Market developed in the Past?

From 2018 to 2022, the global market exhibited 4.5% CAGR.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033

        5.3.1. Presence Sensing Safety Sensors

        5.3.2. Safety Interlock Switches

            5.3.2.1. Electromechanical

            5.3.2.2. Hinged Pin

            5.3.2.3. Limit

            5.3.2.4. Non-Contact

            5.3.2.5. Tongue

            5.3.2.6. Trapped Key

        5.3.3. Programmable Safety Systems

        5.3.4. Safety Modules

        5.3.5. Emergency Stop Controls

        5.3.6. Others

    5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033

        6.3.1. Automotive

        6.3.2. Food & Beverages

        6.3.3. Packaging

        6.3.4. Material Processing

        6.3.5. Pharmaceuticals

        6.3.6. Electronics & Semiconductors

        6.3.7. Others

    6.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022

    7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Europe

        7.3.4. South Asia

        7.3.5. East Asia

        7.3.6. Oceania

        7.3.7. MEA

    7.4. Market Attractiveness Analysis By Region

8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        8.2.1. By Country

            8.2.1.1. USA

            8.2.1.2. Canada

        8.2.2. By Component

        8.2.3. By Industry

    8.3. Market Attractiveness Analysis

        8.3.1. By Country

        8.3.2. By Component

        8.3.3. By Industry

    8.4. Key Takeaways

9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. Brazil

            9.2.1.2. Mexico

            9.2.1.3. Rest of Latin America

        9.2.2. By Component

        9.2.3. By Industry

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Component

        9.3.3. By Industry

    9.4. Key Takeaways

10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Germany

            10.2.1.2. UK

            10.2.1.3. France

            10.2.1.4. Spain

            10.2.1.5. Italy

            10.2.1.6. Rest of Europe

        10.2.2. By Component

        10.2.3. By Industry

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Component

        10.3.3. By Industry

    10.4. Key Takeaways

11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. India

            11.2.1.2. Malaysia

            11.2.1.3. Singapore

            11.2.1.4. Thailand

            11.2.1.5. Rest of South Asia

        11.2.2. By Component

        11.2.3. By Industry

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Component

        11.3.3. By Industry

    11.4. Key Takeaways

12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. China

            12.2.1.2. Japan

            12.2.1.3. South Korea

        12.2.2. By Component

        12.2.3. By Industry

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Component

        12.3.3. By Industry

    12.4. Key Takeaways

13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Country

            13.2.1.1. Australia

            13.2.1.2. New Zealand

        13.2.2. By Component

        13.2.3. By Industry

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Component

        13.3.3. By Industry

    13.4. Key Takeaways

14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        14.2.1. By Country

            14.2.1.1. GCC Countries

            14.2.1.2. South Africa

            14.2.1.3. Israel

            14.2.1.4. Rest of MEA

        14.2.2. By Component

        14.2.3. By Industry

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Component

        14.3.3. By Industry

    14.4. Key Takeaways

15. Key Countries Market Analysis

    15.1. USA

        15.1.1. Pricing Analysis

        15.1.2. Market Share Analysis, 2022

            15.1.2.1. By Component

            15.1.2.2. By Industry

    15.2. Canada

        15.2.1. Pricing Analysis

        15.2.2. Market Share Analysis, 2022

            15.2.2.1. By Component

            15.2.2.2. By Industry

    15.3. Brazil

        15.3.1. Pricing Analysis

        15.3.2. Market Share Analysis, 2022

            15.3.2.1. By Component

            15.3.2.2. By Industry

    15.4. Mexico

        15.4.1. Pricing Analysis

        15.4.2. Market Share Analysis, 2022

            15.4.2.1. By Component

            15.4.2.2. By Industry

    15.5. Germany

        15.5.1. Pricing Analysis

        15.5.2. Market Share Analysis, 2022

            15.5.2.1. By Component

            15.5.2.2. By Industry

    15.6. UK

        15.6.1. Pricing Analysis

        15.6.2. Market Share Analysis, 2022

            15.6.2.1. By Component

            15.6.2.2. By Industry

    15.7. France

        15.7.1. Pricing Analysis

        15.7.2. Market Share Analysis, 2022

            15.7.2.1. By Component

            15.7.2.2. By Industry

    15.8. Spain

        15.8.1. Pricing Analysis

        15.8.2. Market Share Analysis, 2022

            15.8.2.1. By Component

            15.8.2.2. By Industry

    15.9. Italy

        15.9.1. Pricing Analysis

        15.9.2. Market Share Analysis, 2022

            15.9.2.1. By Component

            15.9.2.2. By Industry

    15.10. India

        15.10.1. Pricing Analysis

        15.10.2. Market Share Analysis, 2022

            15.10.2.1. By Component

            15.10.2.2. By Industry

    15.11. Malaysia

        15.11.1. Pricing Analysis

        15.11.2. Market Share Analysis, 2022

            15.11.2.1. By Component

            15.11.2.2. By Industry

    15.12. Singapore

        15.12.1. Pricing Analysis

        15.12.2. Market Share Analysis, 2022

            15.12.2.1. By Component

            15.12.2.2. By Industry

    15.13. Thailand

        15.13.1. Pricing Analysis

        15.13.2. Market Share Analysis, 2022

            15.13.2.1. By Component

            15.13.2.2. By Industry

    15.14. China

        15.14.1. Pricing Analysis

        15.14.2. Market Share Analysis, 2022

            15.14.2.1. By Component

            15.14.2.2. By Industry

    15.15. Japan

        15.15.1. Pricing Analysis

        15.15.2. Market Share Analysis, 2022

            15.15.2.1. By Component

            15.15.2.2. By Industry

    15.16. South Korea

        15.16.1. Pricing Analysis

        15.16.2. Market Share Analysis, 2022

            15.16.2.1. By Component

            15.16.2.2. By Industry

    15.17. Australia

        15.17.1. Pricing Analysis

        15.17.2. Market Share Analysis, 2022

            15.17.2.1. By Component

            15.17.2.2. By Industry

    15.18. New Zealand

        15.18.1. Pricing Analysis

        15.18.2. Market Share Analysis, 2022

            15.18.2.1. By Component

            15.18.2.2. By Industry

    15.19. GCC Countries

        15.19.1. Pricing Analysis

        15.19.2. Market Share Analysis, 2022

            15.19.2.1. By Component

            15.19.2.2. By Industry

    15.20. South Africa

        15.20.1. Pricing Analysis

        15.20.2. Market Share Analysis, 2022

            15.20.2.1. By Component

            15.20.2.2. By Industry

    15.21. Israel

        15.21.1. Pricing Analysis

        15.21.2. Market Share Analysis, 2022

            15.21.2.1. By Component

            15.21.2.2. By Industry

16. Market Structure Analysis

    16.1. Competition Dashboard

    16.2. Competition Benchmarking

    16.3. Market Share Analysis of Top Players

        16.3.1. By Regional

        16.3.2. By Component

        16.3.3. By Industry

17. Competition Analysis

    17.1. Competition Deep Dive

        17.1.1. ABB Ltd.

            17.1.1.1. Overview

            17.1.1.2. Product Portfolio

            17.1.1.3. Profitability by Market Segments

            17.1.1.4. Sales Footprint

            17.1.1.5. Strategy Overview

                17.1.1.5.1. Marketing Strategy

        17.1.2. Emerson Electric Co.

            17.1.2.1. Overview

            17.1.2.2. Product Portfolio

            17.1.2.3. Profitability by Market Segments

            17.1.2.4. Sales Footprint

            17.1.2.5. Strategy Overview

                17.1.2.5.1. Marketing Strategy

        17.1.3. General Electric Co.

            17.1.3.1. Overview

            17.1.3.2. Product Portfolio

            17.1.3.3. Profitability by Market Segments

            17.1.3.4. Sales Footprint

            17.1.3.5. Strategy Overview

                17.1.3.5.1. Marketing Strategy

        17.1.4. Honeywell International Inc.

            17.1.4.1. Overview

            17.1.4.2. Product Portfolio

            17.1.4.3. Profitability by Market Segments

            17.1.4.4. Sales Footprint

            17.1.4.5. Strategy Overview

                17.1.4.5.1. Marketing Strategy

        17.1.5. Schneider Electric SE

            17.1.5.1. Overview

            17.1.5.2. Product Portfolio

            17.1.5.3. Profitability by Market Segments

            17.1.5.4. Sales Footprint

            17.1.5.5. Strategy Overview

                17.1.5.5.1. Marketing Strategy

        17.1.6. Rockwell Automation, Inc.

            17.1.6.1. Overview

            17.1.6.2. Product Portfolio

            17.1.6.3. Profitability by Market Segments

            17.1.6.4. Sales Footprint

            17.1.6.5. Strategy Overview

                17.1.6.5.1. Marketing Strategy

        17.1.7. Siemens AG

            17.1.7.1. Overview

            17.1.7.2. Product Portfolio

            17.1.7.3. Profitability by Market Segments

            17.1.7.4. Sales Footprint

            17.1.7.5. Strategy Overview

                17.1.7.5.1. Marketing Strategy

        17.1.8. Yokogawa Electric Corp.

            17.1.8.1. Overview

            17.1.8.2. Product Portfolio

            17.1.8.3. Profitability by Market Segments

            17.1.8.4. Sales Footprint

            17.1.8.5. Strategy Overview

                17.1.8.5.1. Marketing Strategy

        17.1.9. Omron Corporation

            17.1.9.1. Overview

            17.1.9.2. Product Portfolio

            17.1.9.3. Profitability by Market Segments

            17.1.9.4. Sales Footprint

            17.1.9.5. Strategy Overview

                17.1.9.5.1. Marketing Strategy

        17.1.10. Keyence Corporation

            17.1.10.1. Overview

            17.1.10.2. Product Portfolio

            17.1.10.3. Profitability by Market Segments

            17.1.10.4. Sales Footprint

            17.1.10.5. Strategy Overview

                17.1.10.5.1. Marketing Strategy

        17.1.11. Mitsubishi Electric Corporation

            17.1.11.1. Overview

            17.1.11.2. Product Portfolio

            17.1.11.3. Profitability by Market Segments

            17.1.11.4. Sales Footprint

            17.1.11.5. Strategy Overview

                17.1.11.5.1. Marketing Strategy

        17.1.12. Pilz GmbH & Co. KG

            17.1.12.1. Overview

            17.1.12.2. Product Portfolio

            17.1.12.3. Profitability by Market Segments

            17.1.12.4. Sales Footprint

            17.1.12.5. Strategy Overview

                17.1.12.5.1. Marketing Strategy

        17.1.13. Sick AG

            17.1.13.1. Overview

            17.1.13.2. Product Portfolio

            17.1.13.3. Profitability by Market Segments

            17.1.13.4. Sales Footprint

            17.1.13.5. Strategy Overview

                17.1.13.5.1. Marketing Strategy

        17.1.14. Balluff GmbH

            17.1.14.1. Overview

            17.1.14.2. Product Portfolio

            17.1.14.3. Profitability by Market Segments

            17.1.14.4. Sales Footprint

            17.1.14.5. Strategy Overview

                17.1.14.5.1. Marketing Strategy

        17.1.15. Banner Engineering Corp.

            17.1.15.1. Overview

            17.1.15.2. Product Portfolio

            17.1.15.3. Profitability by Market Segments

            17.1.15.4. Sales Footprint

            17.1.15.5. Strategy Overview

                17.1.15.5.1. Marketing Strategy

18. Assumptions & Acronyms Used

19. Research Methodology

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List of Tables

Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033

Table 2: Global Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 3: Global Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 4: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 5: North America Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 6: North America Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 7: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 8: Latin America Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 9: Latin America Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 10: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 11: Europe Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 12: Europe Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 13: South Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 14: South Asia Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 15: South Asia Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 16: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 17: East Asia Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 18: East Asia Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 19: Oceania Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 20: Oceania Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 21: Oceania Market Value (US$ Million) Forecast by Industry, 2018 to 2033

Table 22: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033

Table 23: MEA Market Value (US$ Million) Forecast by Component, 2018 to 2033

Table 24: MEA Market Value (US$ Million) Forecast by Industry, 2018 to 2033
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List of Charts

Figure 1: Global Market Value (US$ Million) by Component, 2023 to 2033

Figure 2: Global Market Value (US$ Million) by Industry, 2023 to 2033

Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033

Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033

Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033

Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033

Figure 7: Global Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 8: Global Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 9: Global Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 10: Global Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 11: Global Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 12: Global Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 13: Global Market Attractiveness by Component, 2023 to 2033

Figure 14: Global Market Attractiveness by Industry, 2023 to 2033

Figure 15: Global Market Attractiveness by Region, 2023 to 2033

Figure 16: North America Market Value (US$ Million) by Component, 2023 to 2033

Figure 17: North America Market Value (US$ Million) by Industry, 2023 to 2033

Figure 18: North America Market Value (US$ Million) by Country, 2023 to 2033

Figure 19: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 22: North America Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 23: North America Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 24: North America Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 25: North America Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 26: North America Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 27: North America Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 28: North America Market Attractiveness by Component, 2023 to 2033

Figure 29: North America Market Attractiveness by Industry, 2023 to 2033

Figure 30: North America Market Attractiveness by Country, 2023 to 2033

Figure 31: Latin America Market Value (US$ Million) by Component, 2023 to 2033

Figure 32: Latin America Market Value (US$ Million) by Industry, 2023 to 2033

Figure 33: Latin America Market Value (US$ Million) by Country, 2023 to 2033

Figure 34: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 37: Latin America Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 38: Latin America Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 40: Latin America Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 41: Latin America Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 42: Latin America Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 43: Latin America Market Attractiveness by Component, 2023 to 2033

Figure 44: Latin America Market Attractiveness by Industry, 2023 to 2033

Figure 45: Latin America Market Attractiveness by Country, 2023 to 2033

Figure 46: Europe Market Value (US$ Million) by Component, 2023 to 2033

Figure 47: Europe Market Value (US$ Million) by Industry, 2023 to 2033

Figure 48: Europe Market Value (US$ Million) by Country, 2023 to 2033

Figure 49: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 50: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 51: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 52: Europe Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 53: Europe Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 54: Europe Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 55: Europe Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 56: Europe Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 57: Europe Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 58: Europe Market Attractiveness by Component, 2023 to 2033

Figure 59: Europe Market Attractiveness by Industry, 2023 to 2033

Figure 60: Europe Market Attractiveness by Country, 2023 to 2033

Figure 61: South Asia Market Value (US$ Million) by Component, 2023 to 2033

Figure 62: South Asia Market Value (US$ Million) by Industry, 2023 to 2033

Figure 63: South Asia Market Value (US$ Million) by Country, 2023 to 2033

Figure 64: South Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 65: South Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 66: South Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 67: South Asia Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 68: South Asia Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 69: South Asia Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 70: South Asia Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 71: South Asia Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 72: South Asia Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 73: South Asia Market Attractiveness by Component, 2023 to 2033

Figure 74: South Asia Market Attractiveness by Industry, 2023 to 2033

Figure 75: South Asia Market Attractiveness by Country, 2023 to 2033

Figure 76: East Asia Market Value (US$ Million) by Component, 2023 to 2033

Figure 77: East Asia Market Value (US$ Million) by Industry, 2023 to 2033

Figure 78: East Asia Market Value (US$ Million) by Country, 2023 to 2033

Figure 79: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 80: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 81: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 82: East Asia Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 83: East Asia Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 84: East Asia Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 85: East Asia Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 86: East Asia Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 87: East Asia Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 88: East Asia Market Attractiveness by Component, 2023 to 2033

Figure 89: East Asia Market Attractiveness by Industry, 2023 to 2033

Figure 90: East Asia Market Attractiveness by Country, 2023 to 2033

Figure 91: Oceania Market Value (US$ Million) by Component, 2023 to 2033

Figure 92: Oceania Market Value (US$ Million) by Industry, 2023 to 2033

Figure 93: Oceania Market Value (US$ Million) by Country, 2023 to 2033

Figure 94: Oceania Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 95: Oceania Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 96: Oceania Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 97: Oceania Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 98: Oceania Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 99: Oceania Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 100: Oceania Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 101: Oceania Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 102: Oceania Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 103: Oceania Market Attractiveness by Component, 2023 to 2033

Figure 104: Oceania Market Attractiveness by Industry, 2023 to 2033

Figure 105: Oceania Market Attractiveness by Country, 2023 to 2033

Figure 106: MEA Market Value (US$ Million) by Component, 2023 to 2033

Figure 107: MEA Market Value (US$ Million) by Industry, 2023 to 2033

Figure 108: MEA Market Value (US$ Million) by Country, 2023 to 2033

Figure 109: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033

Figure 110: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033

Figure 111: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033

Figure 112: MEA Market Value (US$ Million) Analysis by Component, 2018 to 2033

Figure 113: MEA Market Value Share (%) and BPS Analysis by Component, 2023 to 2033

Figure 114: MEA Market Y-o-Y Growth (%) Projections by Component, 2023 to 2033

Figure 115: MEA Market Value (US$ Million) Analysis by Industry, 2018 to 2033

Figure 116: MEA Market Value Share (%) and BPS Analysis by Industry, 2023 to 2033

Figure 117: MEA Market Y-o-Y Growth (%) Projections by Industry, 2023 to 2033

Figure 118: MEA Market Attractiveness by Component, 2023 to 2033

Figure 119: MEA Market Attractiveness by Industry, 2023 to 2033

Figure 120: MEA Market Attractiveness by Country, 2023 to 2033

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