Description

A study by StrategyHelix indicates that the global functional safety market is expected to increase by US$ 4,260.2 million from 2022 to 2028, garnering a CAGR of 10.6% during the forecast period.

The report provides up-to-date market size data for period 2018-2021 and forecast to 2028 covering key market aspects like sales value for functional safety. The global functional safety market is segmented on the basis of device type, system type, end user, and region. Based on device type, the global functional safety market is categorized into emergency stop devices, final control elements (valves, actuators), programmable safety controllers (PLC), safety controllers/relays, safety sensors, safety switches, others. Globally, the safety controllers/relays segment made up the largest share of the functional safety market. On the basis of system type, the global functional safety market has been segmented into burner management systems (BMS), distributed control systems (DCS), emergency shutdown systems (ESD), fire and gas systems, high-integrity pressure protection systems (HIPPS), supervisory control and data acquisition (SCADA) systems, turbomachinery controls (TMC). The ESD segment captured the largest share of the market in 2021. By end user, the global functional safety market has been segmented into automotive, food and beverages, oil and gas, pharmaceuticals and biotech, power generation, others. According to the research, the oil and gas segment had the largest share in the global functional safety market. In terms of geography, the global functional safety market has been segmented into Asia Pacific, Europe, North America, Rest of the World (RoW). North America held the largest revenue share in 2021.

The global functional safety market is highly competitive. The key players in the functional safety market include ABB Limited, Banner Engineering Corporation, Bosch Rexroth AG, Emerson Electric Co., Endress+Hauser AG, General Electric Company, Honeywell International Inc., Omron Corporation, Panasonic Holdings Corporation, Pepperl+Fuchs SE, Rockwell Automation Inc., Schneider Electric SE, Sick AG, Siemens AG, TUV Rheinland AG, UL LLC, Yokogawa Electric Corporation. Competitive landscape gives a description of the competitive nature of the global functional safety market and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.

The report is an invaluable resource for companies and organizations active in this industry. It provides a cohesive picture of the functional safety market to help drive informed decision making for industry executives, policy makers, academic, and analysts.

Report Scope

Device type: emergency stop devices, final control elements (valves, actuators), programmable safety controllers (PLC), safety controllers/relays, safety sensors, safety switches, others
System type: burner management systems (BMS), distributed control systems (DCS), emergency shutdown systems (ESD), fire and gas systems, high-integrity pressure protection systems (HIPPS), supervisory control and data acquisition (SCADA) systems, turbomachinery controls (TMC)
End user: automotive, food and beverages, oil and gas, pharmaceuticals and biotech, power generation, others
Region: Asia Pacific, Europe, North America, Rest of the World (RoW)
Years considered: this report covers the period 2018 to 2028
Company mentioned: ABB Limited, Banner Engineering Corporation, Bosch Rexroth AG, Emerson Electric Co., Endress+Hauser AG, General Electric Company, Honeywell International Inc., Omron Corporation, Panasonic Holdings Corporation, Pepperl+Fuchs SE, Rockwell Automation Inc., Schneider Electric SE, Sick AG, Siemens AG, TUV Rheinland AG, UL LLC, Yokogawa Electric Corporation

Key Benefits for Stakeholders

– Get a comprehensive picture of the global functional safety market
– Pinpoint growth sectors and trends for investment

Table of Contents

Part 1. Introduction
– Scope of the study
– Study period
– Geographical scope
– Research methodology
Part 2. Functional safety market overview
Part 3. Market breakdown by device type
– Emergency stop devices
– Final control elements (valves, actuators)
– Programmable safety controllers (PLC)
– Safety controllers/relays
– Safety sensors
– Safety switches
– Others
Part 4. Market breakdown by system type
– Burner management systems (BMS)
– Distributed control systems (DCS)
– Emergency shutdown systems (ESD)
– Fire and gas systems
– High-integrity pressure protection systems (HIPPS)
– Supervisory control and data acquisition (SCADA) systems
– Turbomachinery controls (TMC)
Part 5. Market breakdown by end user
– Automotive
– Food and beverages
– Oil and gas
– Pharmaceuticals and biotech
– Power generation
– Others
Part 6. Market breakdown by region
– Asia Pacific
– Europe
– North America
– Rest of the World (RoW)
Part 7. Key companies
– ABB Limited
– Banner Engineering Corporation
– Bosch Rexroth AG
– Emerson Electric Co.
– Endress+Hauser AG
– General Electric Company
– Honeywell International Inc.
– Omron Corporation
– Panasonic Holdings Corporation
– Pepperl+Fuchs SE
– Rockwell Automation, Inc.
– Schneider Electric SE
– Sick AG
– Siemens AG
– TUV Rheinland AG
– UL LLC
– Yokogawa Electric Corporation
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