Press Release

Rising Adoption of Smart Machine and Industry 4.0 is Driving the Safety Systems Market Growth

The rapid adoption of smart machines and the widespread implementation of Industry 4.0 technologies are significant drivers for the global safety systems market. Industry 4.0, characterized by the fusion of digital technologies with traditional manufacturing, has led to the increased use of advanced machinery, automation systems, and interconnected devices in industrial environments. These innovations have created a growing need for safety systems to ensure the safe operation of machines and safeguard workers.

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Data Bridge Market Research analyses that the Global Safety Systems Market is expected to reach USD 7.84 billion by 2031 from USD 4.76 billion in 2023, growing with a CAGR of 6.7% in the forecast period of 2024 to 2031.

Key Findings of the Study

Safety Systems Market

Increasing Awareness of Workplace Safety

The increasing emphasis on workplace safety across industries is a pivotal driver for the growth of the global safety systems market. Employers and regulatory bodies are becoming more vigilant about ensuring safe work environments, especially in high-risk sectors such as manufacturing, construction, and energy. This heightened awareness is fuelled by stringent safety regulations and standards imposed by governments and international agencies, such as OSHA (Occupational Safety and Health Administration) and ISO safety standards, requiring companies to prioritize worker safety to avoid accidents and legal repercussions.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable from 2016-2022)

Quantitative Units

Revenue in USD Thousands

Segments Covered

Type (Safety Controllers & Relays, Safety Machine Vision, Safety Sensors, and Safety Switches), Technology (Digital Sensor, Smart Sensor and Analog Sensor), Function (Machine Protection, Process Monitoring, Energy Management, Parking Assistance, Collision Avoidance, Vibration Monitoring System, Emergency Stop Systems, and Other), Organization Size (Small & Medium Size Organization and Large Scale Organization), End User (Automotive, Aerospace & Defense, Healthcare, Oil & Gas, Transportation & Logistics, Consumer Electronics. Food And Beverages, Construction Industry, and Other), Distribution Channel (Direct Sales and Indirect Sales)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Denmark, Turkey, Norway, Finland, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, New Zealand, Indonesia, Thailand, Malaysia, Singapore, Philippines, Taiwan, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Bahrain, Oman, Qatar, Kuwait, Rest of Middle East & Africa, Brazil, Argentina, and Rest of South America.

Market Players Covered

Rockwell Automation (U.S.), ABB (Switzerland), Panasonic Holdings Corporation (Japan), Schneider Electric (France), Siemens (Germany), Pepperl+Fuchs (Germany), OMRON Corporation (Japan), Sensata Technologies, Inc (U.S.), Keyence (Japan), Honeywell International Inc (U.S.), Atek Access Technologies (U.S.), Autonics Corporation (South Korea), SICK AG (Germany), Hans Turck GmbH & Co. KG (Germany), Balluff Automation, India Pvt. Ltd. (India), and Festo Corporation (Germany)

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Segment Analysis

The global safety systems market is segmented into seven notable segments based on the type, technology, function, organization type, end user, distribution channel.

  • On the basis of type, the global safety systems market is segmented into safety controllers & relays, safety machine vision, safety sensors, safety switches, and others

In 2024, the safety controllers & relays segment is expected to dominate the global safety systems market

In 2024, safety controllers & relays segment is expected to dominate the market with a 44.38% market share the due to their critical role in preventing accidents and ensuring compliance with stringent safety regulations across various industries.

  • On the basis of technology, the global safety systems market is segmented analog sensor, digital sensor, and smart sensor

In 2024, the digital sensor segment is expected to global safety systems market

In 2024, digital sensor segment is expected to dominate the market with 44.38% market share due to its ability to provide high precision and versatility in measuring complex geometries across various industries. Its integration into quality control processes enhances efficiency and ensures compliance with stringent manufacturing standards.

  • On the basis of function, global safety systems market is segmented into machine protection, process monitoring, energy management, parking assistance, collision avoidance, vibration monitoring system, emergency stop systems. In 2024, machine protection safety sensors are expected to dominate the market with a 23.76% market share
  • On the basis of organization size, global safety systems market is segmented into small & medium size organization, large scale organization. In 2024, large scale organization are expected to dominate the market with a 66.68% market share
  • On the basis of end user, global safety systems market is segmented into automotive, aerospace & defense, healthcare, oil & gas, transportation & logistics, consumer electronics, food and beverages, construction industry and other. In 2024, automotive segment is expected to dominate the market with a 31.14% market share
  • On the basis of distribution channel, the global safety systems market is segmented direct sales and indirect sales. In 2024, direct sales are expected to dominate the market with a 64.28% market share

Major Players

Data Bridge Market Research analyzes Rockwell Automation (U.S.), ABB (Switzerland), Panasonic Holdings Corporation (Japan), Schneider Electric (France), and Siemens (Germany)  as the major companies operating in global safety systems market.

Safety Systems Market

Market Development

  • In August 2024, Siemens Smart Infrastructure launched the SICAM Enhanced Grid Sensor (EGS), aimed at improving distribution network transparency for grid operators. This new technology facilitates the digitalization of distribution grids, ensuring optimized use of existing infrastructure by continuously monitoring networks to prevent overloading. The plug-and-play solution enhances efficiency and supports renewable energy integration. This advancement solidified Siemens' position as a leader in energy solutions, benefiting the company by attracting new clients focused on digital transformation
  • In May 2024, ABB acquired Siemen’s Wiring Accessories business in China. It expanding its offerings in smart buildings with products like wiring accessories, smart home systems, and automation technologies while maintaining the Siemens brand under a licensing agreement. This acquisition will enhance ABB’s market presence in China and enable access to a broad distribution network, ultimately strengthening its leadership in the electrification sector.
  • In December 2023, Panasonic Holdings Corporation has launched a 6-in-1 inertial sensor aimed at enhancing automotive safety and performance. This innovative sensor integrates multiple functionalities, improving vehicle stability and driver assistance systems. The new technology positions Panasonic as a leader in automotive sensor solutions, potentially increasing market share and strengthening partnerships in the growing automotive sector
  •  In May 2023, ABB has completed its acquisition of Siemens' low-voltage NEMA motor business, originally announced in August 2022, enhancing its position as a leading manufacturer of industrial NEMA motors. This strategic move strengthens ABB's ability to serve global customers in key industries like automation
  • In July 2021, ABB acquired ASTI Mobile Robotics Group, a leader in autonomous mobile robots (AMRs). ABB is expanding its robotics and automation portfolio across various industry segments. ASTI’s AMR technologies are expected to improve operational efficiency and safety within these sectors. ABB is the only company to offer a complete suite of flexible automation solutions, enhancing its capabilities in sectors such as logistics, e-commerce, retail, and healthcare, which make their differentiation

Regional Analysis

Geographically, the countries covered in the global industrial metrology market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Denmark, Turkey, Norway, Finland, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, New Zealand, Indonesia, Thailand, Malaysia, Singapore, Philippines, Taiwan, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Bahrain, Oman, Qatar, Kuwait, Rest of Middle East & Africa, Brazil, Argentina, and Rest of South America.

As per Data Bridge Market Research analysis:

North America is expected to dominate and be the fastest growing region in the  global safety systems market

In the global safety systems market, the North America dominates due to its advanced manufacturing sector and significant investment in technology and R&D. The presence of major industrial players and stringent quality control regulations drive demand for precise measurement solutions across various industries.

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