Mar 31, 2020   SOURCE: BusinessWire

Global Functional Safety Market (2018 to 2027) - Featuring ABB, GE, Yokogawa & Siemens AG Among Others - ResearchAndMarkets.com

The "Functional Safety - Global Market Outlook (2018-2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Functional Safety market accounted for $4.21 billion in 2018 and is expected to reach $10.61 billion by 2027 growing at a CAGR of 10.8% during the forecast period. Increasing strict mandates for safety regulations and surging demand for safety systems in the oil & gas industry are the major factors driving market growth. However, high financing required for placing in helpful insurance structures and absence of ability and the multifaceted nature of models are limiting commercial centre increment.

Functional safety is the part of the general safety of a device or piece of device that is predicated upon automatic safety strolling efficiently in reaction to its inputs or failure in a predictable manner (fail-secure). The computerized safety system should be designed to correctly manage possibly human errors, hardware screw-united states and operational/environmental pressure.

Based on the offering, the service segment is likely to have a huge demand due to increasing adoption of safety instrumented systems (SIS) by manufacturing companies and growing demand for functional safety, especially in oil & gas and chemical industries. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to high potential for installation of functional safety in the oil & gas, chemicals, and power generation industries and increasing industrialization in emerging economies such as China and India.

Some of the key players profiled in the Functional Safety Market include ABB, GE, Yokogawa, Siemens Ag, Schneider Electric, Hima Paul, Omron, Honeywell, Emerson Electric, Rockwell, TUV SUD and Johnson Controls.

What the report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Key Topics Covered:

1 Executive Summary

2 Preface

3 Market Trend Analysis

3.1 Introduction

3.2 Drivers

3.3 Restraints

3.4 Opportunities

3.5 Threats

3.6 Application Analysis

3.7 Emerging Markets

3.8 Futuristic Market Scenario

4 Porters Five Force Analysis

5 Global Functional Safety Market, By System

5.1 Introduction

5.2 Industrial Control Systems

5.2.1 Distributed Control System (DCS)

5.2.2 Supervisory Control and Data Acquisition (SCADA) Systems

5.3 Safety Instrumented Systems (SIS)

5.3.1 Fire & Gas Monitoring

5.3.2 Burner Management System (BMS)

5.3.3 Turbomachinery Control (TMC)

5.3.4 High Integrity Pressure Protection System (HIPPS)

5.3.5 Emergency Shutdown System (ESD)

6 Global Functional Safety Market, By Offering

6.1 Introduction

6.2 Service

6.2.1 Testing, Inspection, and Certification

6.2.2 Maintenance

6.2.3 Training and Consulting

6.3 Component

6.3.1 Safety Switch

6.3.2 Programmable Safety System

6.3.3 Safety Sensor

6.3.4 Safety Controller/Module/Relay

6.3.5 Emergency Stop Device

6.3.6 Final Control Element

6.3.6.1 Actuators

6.3.6.2 Safety Valve

7 Global Functional Safety Market, By Application

7.1 Introduction

7.2 Process Industry

7.2.1 Pharmaceutical and Biotech

7.2.2 Power Generation

7.2.3 Healthcare sector

7.2.4 Food & Beverages

7.2.5 Oil & Gas

7.2.6 Chemicals

7.2.7 Water & Wastewater

7.2.8 Metals & Mining

7.2.9 Software industry

7.3 Discrete Industries

7.3.1 Railways

7.3.2 Aviation and Aerospace industry

7.3.3 Transportation sector

7.3.4 Electronics and Electricals industry

7.3.5 Energy and Utility sector

7.3.6 Automotive

7.3.7 Agriculture and Forestry

8 Global Functional Safety Market, By Geography

8.1 Introduction

8.2 North America

8.2.1 US

8.2.2 Canada

8.2.3 Mexico

8.3 Europe

8.3.1 Germany

8.3.2 UK

8.3.3 Italy

8.3.4 France

8.3.5 Spain

8.3.6 Rest of Europe

8.4 Asia Pacific

8.4.1 Japan

8.4.2 China

8.4.3 India

8.4.4 Australia

8.4.5 New Zealand

8.4.6 South Korea

8.4.7 Rest of Asia Pacific

8.5 South America

8.5.1 Argentina

8.5.2 Brazil

8.5.3 Chile

8.5.4 Rest of South America

8.6 Middle East & Africa

8.6.1 Saudi Arabia

8.6.2 UAE

8.6.3 Qatar

8.6.4 South Africa

8.6.5 Rest of Middle East & Africa

9 Key Developments

9.1 Agreements, Partnerships, Collaborations and Joint Ventures

9.2 Acquisitions & Mergers

9.3 New Product Launch

9.4 Expansions

9.5 Other Key Strategies

10 Company Profiling

10.1 ABB

10.2 GE

10.3 Yokogawa

10.4 Siemens Ag

10.5 Schneider Electric

10.6 Hima Paul

10.7 Omron

10.8 Honeywell

10.9 Emerson Electric

10.10 Rockwell

10.11 TUV SUD

10.12 Johnson Controls

For more information about this report visit https://www.researchandmarkets.com/r/9a47bo