TechNavio recognizes the following companies as the key players in the Global Machine Safeguarding Solutions Market: ABB Ltd., Honeywell International Inc., Rockwell Automation Inc., and Siemens AG.
Commenting on the report, an analyst from TechNavio’s team said: “Globalization has led several global players to enter the APAC region. As a result of economic revival in the post-recession period, many companies across the globe are increasing their investment in the APAC region. This increases the demand for these solutions from industries in the MSME sector in countries such as India and China to deliver quality products for increased revenue generation. The emerging MSME sector is expected to increase its focus toward the machine safeguarding solutions to enable it to scale up in line with global operational standards. Therefore, smaller business segments have begun to invest in machine safeguarding solutions for enhanced process efficiency, better productivity, and the improved safety of their plants.”
According to the report, 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.
Further, the report states that a major challenge in the market is the reluctance in migrating to the latest technology. Several organizations in 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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-machine-safeguarding-solutions-ma…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Global Machine Safeguarding Solutions Market 2014-2018
