Machine Safety Market Size 2022-27 Share, Growth, Industry Trends, Analysis and Forecast
According to the latest report by IMARC Group, titled " Global Machine Safety Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027 ", the global machine safety market size reached a value of US$ 4.88 Billion in 2021 . Looking forward, IMARC Group expects the market to reach a value of US$ 7.33 Billion by 2027 exhibiting a CAGR of 6.60% during 2022-2027. Machine safety refers to devices used to ensure the safety of the machinery and operators. It consists of various devices such as emergency stop devices, safety sensors, interlock switches, protective clothing, safety curtain lights, presence sensor devices, safety controllers, relays, and modules. Machine safety reduces the exposure of equipment and machines to damage and lengthen its lifecycle. It also helps in machine guarding, increases efficiency, and decreases waste and costly mistakes. Consequently, machine safety finds extensive application in oil and gas, automotive, mining and metal, he...