According to TechSci Research, The Philippines machine safety market is anticipated to grow at a significant CAGR for the forecast period, 2023-2027. Implementation of strict safety standards and the growing awareness about the benefits of installing safety systems in industries are the key factors driving the demand of the Philippines machine safety market.
Outbreak of COVID-19 Fuels the Market Demand
Pandemic COVID-19 adversely impacted the country’s economy as production was halted in the majority of the manufacturing industries. During this period, the demand for automated machine safety systems witnessed a hike to ensure workplace safety as the government imposed social distancing and prevented public gatherings. To ensure the production was not affected, the majority of the companies installed an automated system. The rise in the number of patients suffering from novel coronavirus influenced the demand for medicines which ultimately boosted the demand of pharmaceutical and medical devices industries. Medical devices and pharmaceutical sectors made efforts to continue their expected production, the food & beverage industry, and the essential commodities manufacturing industries. The demand from these industries to not affect the production volume is expected to significantly contribute to the increased demand for machine safety solutions in the country.
Stringent Policies Emphasizing Worker’s Safety Fuels Market Growth
Rising efforts by the leading authorities to improve the economic status of the country and the increasing number of industries and manufacturing units are boosting the country’s overall development. Presence of worker’s safety laws and regulations for the safety of lives and health of workers and optimize the productivity which may suffer due to occurrence of some accidents. Machine safety systems are installed in the workplace for fire and gas monitoring and raise alarms to alert the concerned authorities to contain the spread of damage at the industrial place. Machine safety systems integrated with automation technology can be operated from remote locations, are in high demand as they add to the convenience and raise safety standards of the enterprises.
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Technological Advancements Propels the Market Growth
Digital transformation of the business and the change in how businesses operate are creating opportunities for the adoption of advanced technologies and equipment focusing on boosting the productivity of the industries. Cloud computing, big data, Industry 4.0, artificial intelligence, Industrial Internet of Things (IIoT), machine learning are major technologies revolutionizing industrial growth. The use of IIoT in industries raises safety standards as it collects real-time information from the sensors to send the collected information to the monitoring systems. Machine safety systems can gather the data from the wired and wireless networks to provide real-time alerts and generate possible solutions in emergencies. Industries are actively adopting the industrial internet of things as it allows for quick monitoring, analysis, and control and offers virtual management of the physical systems, resulting in improved performance and output. Growing awareness and the cost-effective solutions provided by these advanced technologies are expected to influence the demand of the Philippines machine safety market for the next five years.
Market Segmentation
The Philippines machine safety market is segmented on the basis of component, implementation, end user, regional distribution, and company. Based on the component, the market is divided into presence sensing safety sensors, emergency stop devices, safety interlock switches, safety controller and others. Based on the implementation, the market is bifurcated into individual and embedded. Based on the end user, the market is divided into electronics and semiconductors, oil and gas, healthcare, food, and beverage, automotive, others. To analyze the market based on the region, the Philippines machine safety market is studied in major regions namely National Capital Region (NCR), Region IV – Southern Tagalog, Region III – Central Luzon, Region VII – Central Visayas and Region I -Ilocos Region.
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Market Players
ABB Limited, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., Siemens AG, TUV Rheinland Group, ROHM Electronics Philippines Inc., Rite-Hite, Rockwell Automation, General Electric, Emerson Electric, are among the major market players in the Philippines that lead the market growth of the Philippines machine safety market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Component
· Implementation · End User |
| Regional scope | National Capital Region (NCR), Region IV – Southern Tagalog, Region III – Central Luzon, Region VII – Central Visayas, Region I -Ilocos Region, Others |
| Key companies profiled | ABB Limited, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., Siemens AG, TUV Rheinland Group, ROHM Electronics Philippines Inc., Rite-Hite, Rockwell Automation, General Electric, Emerson Electric |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, Philippines Machine Safety market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Philippines Machine Safety Market, By Component:
- Presence Sensing Safety Sensors
- Emergency Stop Devices
- Safety Interlock Switches
- Safety Controller
- Others
- Philippines Machine Safety Market, By Implementation:
- Individual
- Embedded
- Philippines Machine Safety Market, By End User:
- Electronics and Semiconductors
- Oil and Gas
- Healthcare
- Food and Beverage
- Automotive
- Others
- Philippines Machine Safety Market, By Region:
- National Capital Region (NCR)
- Region IV – Southern Tagalog
- Region III – Central Luzon
- Region VII – Central Visayas
- Region I -Ilocos Region
- Others
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Philippines Machine Safety market.
About TechSci Research
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