Machine Safety Market is Powered by Growing Automotive Industry

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The total value of the machine safety market was USD 5,150.6 million in 2023, and it will touch USD 7,479.6 million by 2030, powering at a compound annual growth rate of 5.6% by the end of this decade.

This can be credited to the surge in the requirement for competence and safety in industries for example automotive, semiconductors, and food & beverage, accompanied by the surge in the consciousness of the fact that the machine condition can influence safety of the workers.

The F&B category will lead the industry with a share of 25% in 2030. F&B companies extensively embrace machine safety systems to improve both production flexibility and accuracy. These systems play an essential role in attaining better operational transparency across production lines.

The development of this industry can be credited to the growing requirement for packaged and processed food, increasing emphasis on guaranteeing the safety of workers, and extensive acceptance of automation.

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Furthermore, national and international agencies impose safety guidelines and standards to avert contamination, sustain hygiene standards, and safeguard workers from possible hazards. These guidelines are intended to guarantee the security and integrity of products, procedures, and personnel in industries, including F&B manufacturing.

The machine safety market of the APAC is the largest, with about 45% in 2023. One of the main factors accountable for the acceptance of safety solutions at the manufacturing sites in the region is government mandates. Furthermore, with the formation of novel factories and development in the level of factory automation, the requirement for safety systems surges.

Moreover, the disposition of Industry 4.0 technologies and the growing consciousness of worker safety are contributing to the industry growth.
For example, ABB India has enlarged and advanced its smart power factory in Bengaluru because of an increase in the requirement for its equipment. This cutting-edge facility leverages collaborative robots, AI, and further cutting-edge digital technologies to improve human–machine collaboration.

Furthermore, the LATAM will grow at a rate of 5.4% in the years to come as well. The main reason for the development is the growing consciousness amongst industries with regards to the implication of worker safety.

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