|By PR Newswire||
|March 24, 2014 10:00 PM EDT||
DUBLIN, March 25, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/tvl6lr/global_machine) has announced the addition of the "Global Machine Safeguarding Solutions Market 2014-2018" report to their offering.
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Machine safeguarding solutions are safety devices that reduce the potential risk that may arise due to faulty operation of a machine in a workplace or on a production line. They are aimed at developing a safe working environment for enhanced productivity. Thus, these solutions enable risk-free and safe applications such as assembly and disassembly, pressing, molding, fabrication, stamping, and forming. These solutions are used across industries including Automotive, Food and Beverages, Machine Building, Wood Working, Electrical and Electronics, Plastic, Textile, and other engineering industries.
The Global Machine Safeguarding Solution market is expected to grow at a steady rate during the period 2014-2018. The market was dominated by the EMEA region in 2013, followed by the Americas. Some of the major vendors in the Global Machine Safeguarding Solution market are ABB Ltd., Honeywell International Inc., Siemens AG, and Rockwell Automation Inc. The overall market is expected to grow at a CAGR of 11.13 percent during the forecast period.
The Global Machine Safeguarding Solution market has many growth drivers. One of the major drivers is the need for increased workplace safety. The effective deployment of machine safeguard solutions ensures plant safety and also enhances a machine's performance. It also improves the operational efficiency by anticipating and eliminating potential hazards that could lead to casualties occurring in workplaces. In addition, the increasing importance of safety lifecycle management is another major factor contributing to the growth of the market.
Despite the Global Machine Safeguarding Solution market witnessing a steady growth rate, it faces some serious challenges that can hinder its growth. A major challenge in the market is the reluctance to migrate to the latest technology. Several industries across the globe find it difficult to shift from their legacy systems to the latest technology because of various technical issues such as interoperability and compatibility with existing systems. Another major challenge for the market is the lack of continuous support and maintenance of vendors.
Despite these challenges, the Global Machine Safeguarding Solution market exhibits immense potential for growth, and it is expected to grow steadily in the near future because of the presence of several emerging trends in the market. One of the major trends is the increasing demand for safety systems from industries in the APAC region. The emerging MSME sector is expected to increase its focus toward machine safeguarding solutions to enable it to scale up in line with global operational standards. Thus, the future of the Global Machine Safeguarding Solution market looks promising, with many innovative and efficient machine safeguarding solutions expected to be introduced by market vendors during the forecast period.
Key Topics Covered:
1. Executive Summary
2. List of Abbreviations
3. Scope of the Report
4. Market Research Methodology
6. Market Landscape
7. Market Segmentation by Product
8. Geographical Segmentation
9. Buying Criteria
10. Market Growth Drivers
11. Drivers and their Impact
12. Market Challenges
13. Impact of Drivers and Challenges
14. Market Trends
15. Trends and their Impact
16. Vendor Landscape
17. Key Vendor Analysis
18. Other Reports in this Series
- ABB Ltd.
- Honeywell International Inc.
- Siemens AG
- Rockwell Automation Inc.
For more information visit http://www.researchandmarkets.com/research/tvl6lr/global_machine
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets