Market Size of Safety Motion Control Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.65 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Safety Motion Control Market Analysis
The safety motion control market was valued at USD 14.85 billion in 2020 and is expected to reach USD 21.99 billion by 2026, at a CAGR of 5.65% over the forecast period (2021 - 2026). The growing trend of automation, increasing adoption of digital technologies, and stringent government regulation regarding industry safety are some of the major factors driving the investment in the safety motion control market.
- Major motion control products for automation solutions are motion controllers, drives, motors, and robotics. Motion control systems are being used to automate processes, and more companies are turning to robotics and conveyor systems to achieve higher efficiency margins in assembly and production. Therefore, various motors are used in these applications to control the process.
- The ongoing trend in industrial automation and rules and regulations regarding energy reserves demands more safety motion control products. Vendors witnessed increasing investments in this arena via multiple product launches, acquiring IIoT software-based companies, and collaborations.
- The increasing adoption of Industrial IoT(IIoT) and the growing number of smart factories are further expanding the growth of the market studied. Smart factories are becoming a significant adopter of safety motion control products, as safety products are the principal architect of smart factories. Besides, the industrial IoT further increased the need and demand for connected machines in the industries. These connected machines alone are not enough to accomplish pure digital transformation; hence, organizations are developing a seamless ecosystem of humans and machines, performing optimized, end-to-end processes.
- Additionally, The increasing trend of warehouse automation and growth in trends, such as digital twin, edge computing, and predictive manufacturing, is also developing space for advanced safety motion control devices. Robots have become a major automation trend across the world. In advanced automotive manufacturing, robots have become a major component. Companies, like Amazon, are also heavily increasing, and robots, like collaborative robots, and AGVs are also becoming the center of attraction in the manufacturing industry.
- COVID-19 pandemic has created an economic turmoil for small, medium, and large-scale industries worldwide. Additionally, the country-wise lockdown has further hit many manufacturing industries. This has fluctuated the demand for safety motion control devices across some sectors. However, the impact of the COVID-19 crisis forced the businesses to adhere to strict requirements to ensure the ongoing safety of their employees and their machines. As a result, the need for automation witnessed a sudden spike.
