ReportsnReports.com adds report Global Machine Safeguarding Solutions Market 2014-2018 to its store. 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.
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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.
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.
Analyst 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.
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Key questions answered in this report:
- What will the market size be in 2016 and at what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Table Of Contents
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
04. Market Research Methodology
06. Market Landscape
07. Market Segmentation by Product
08. Geographical Segmentation
09. 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
List Of Exhibits:
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