Dublin, July 21, 2021 (GLOBE NEWSWIRE) — The “Machine Safety Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering. The global market for machine safety was evaluated at US$1,204.949 million in the year 2019 and is anticipated to witness a CAGR of 6.28% over the forecast period to reach the market size of US$1,845.565 million by 2026.Machine safety systems are devices or safeguards that are implemented to protect the machines and the personnel working near or on them. The need for machine safety systems is slowly being realised by the industry players as a means to maintain a good public image of their company as companies which care about the safety of their employees are considered to be more trustworthy by the company’s stakeholders. Also with the increasing number of activities in factories and manufacturing plants and the number of personnel directly and indirectly involved with machines, the number of accidents has been on a rise. These accidents can cause collateral damage, put the lives of personnel in danger as well as cause environmental disasters which can severely damage a company’s reputation.

By A Silva