With the introduction of stringent safety requirements in developed countries, demand for machine safety solutions is expected to rise significantly. The growth of manufacturing sectors in emerging countries fuels further adoption
Manufacturers world-wide recognize that machine safety can give them a competitive advantage and a good public image, and therefore, opt for machine safety systems despite the economic downturn. New analysis from Frost & Sullivan finds that the market earned revenues of over $1.27 billion in 2011 and estimates this to reach $1.75 billion in 2016.
Analysts say safety systems monitor health of plant equipment to reduce its exposure to damage and lengthen its life-cycle. In addition, they decrease the probability of work-related injuries, allowing machine operators to work more efficiently. This drives end users to employ machine safety solutions. Moreover, regulations require employers to create a safe working environment for employees. Manufacturers, especially in developed countries where law enforcement is high, are aware that it is more cost-efficient to use machine safety devices than bear the penalty for non-compliance. Improvements in safety solutions also offer business opportunities for machine safety vendors among conservative end users.