Albany, NY -- (SBWire) -- 05/08/2019 --Machine safeguarding solutions are safety equipment or devices which are used in industries for the protection of the workforce. These solutions reduce the possible risks which arise due to faulty operations. Machine safeguarding solutions are designed to offer better safety and improve productivity. Furthermore, these solutions increase operational competence by removing possible risks. Workers are continuously involved in working on machines, and this leads to the possibility of several risks in industrial sectors, resulting in the need for machine safeguarding solutions.

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The driving factor for the global machine safeguarding solutions market is the increase in rules and regulations related to safety of workers across all industries. Industries are adopting machine safeguarding solutions due to change in operational process. Additionally, the rise in safety lifecycle management is anticipated to create significant opportunity in the global machine safeguarding solutions during coming years. However, the high cost of the machine safeguarding solutions is restraining the market growth globally. Industry sectors are adopting these solutions as it lowers the operational cost and improves overall efficiency by reducing hazards or unwanted movement of the machine.

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The global machine safeguarding solutions market can be segmented based on component, industry vertical, and region. The market can be classified based on component into hardware, and services. The hardware component can be categorized into sensors, controllers, relays, switches, and others (safety PLC, scanners etc.). The service component can be divided into installations, training, consulting & auditing, and maintenance & support. In terms of industry vertical, the global machine safeguarding solutions market can be divided into government, manufacturing, automotive, aerospace & defense, electronics & electrical, food and beverage, healthcare, transportation & logistics, oil and gas, mining, and others. The mining industry is expected to gain significant market share over the forecast period due to increasing number of government rules and regulations for safety of workers.