Machine Safety Market worth $6.0 billion by 2025 – Exclusive Report by MarketsandMarkets™

According to the new market research report "Machine Safety Market with COVID-19 Impact, by Component (Presence Sensing Safety Sensors, Safety PLCs, Safety Modules/Controllers/Relays), Implementation, Application (Assembly, Packaging, Robotics), Industry, and Region – Global Forecast to 2025", published by MarketsandMarkets™, the Machine Safety Market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Key factors driving the demand for machine safety systems include strict industrial safety mandates and high requirements for reliable safety systems to ensure personnel and asset protection. Moreover, adoption of digital technology to minimize the impact of COVID-19 and elevate organization safety; growing acceptance of workplace safety standards in emerging economies; and increasing use of IIoT to ensure better management and improved performance of industrial assets are some of the major growth opportunity for machine safety market.

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