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Synopsis
The key factors driving the growth of the this market include mandatory functional safety standards and government policies, rising emphasis on proactive functional safety systems, and increasing demand for safety instrumented systems in the chemical and oil & gas industries.
The global Functional Safety market was valued at US$ 6357 million in 2023 and is anticipated to reach US$ 11160 million by 2030, witnessing a CAGR of 8.5% during the forecast period 2024-2030.
Safety sensors to hold the largest share of the functional safety.
This report aims to provide a comprehensive presentation of the global market for Functional Safety, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Functional Safety.
Report Scope
The Functional Safety market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Functional Safety market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Functional Safety companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
- Siemens
- ABB
- Honeywell
- General Electric
- Schneider Electric
- Rockwell Automation
- Emerson Electric
- Honeywell International
- HIMA Paul Hildebrandt
- Endress+Hauser Management
- TUV Rheinland
- Omron
- Yokogawa Electric
- DEKRA
Segment by Type
- Emergency shutdown System
- Turbomachinery Control
- Fire and Gas Monitoring Control
- High Integrity Pressure Protection Systems
- Battery Management Systems
- Supervisory Control and Data Acquisition
- Distributed Control Systems
Segment by Application
- Chemical
- Food And Drink
- Water And Sewage
- Pharmaceuticals
- Biotechnology
- Metals & Mining
- Other
By Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Netherlands)
- Asia-Pacific (China, Japan, South Korea, China Taiwan, Southeast Asia, India)
- Latin America, Middle East & Africa (Latin America, Mexico, Brazil, Turkey)
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Functional Safety companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Functional Safety Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Emergency shutdown System
1.2.3 Turbomachinery Control
1.2.4 Fire and Gas Monitoring Control
1.2.5 High Integrity Pressure Protection Systems
1.2.6 Battery Management Systems
1.2.7 Supervisory Control and Data Acquisition
1.2.8 Distributed Control Systems
1.3 Market by Application
1.3.1 Global Functional Safety Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Chemical
1.3.3 Food And Drink
1.3.4 Water And Sewage
1.3.5 Pharmaceuticals
1.3.6 Biotechnology
1.3.7 Metals & Mining
1.3.8 Other
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Functional Safety Market Perspective (2019-2030)
2.2 Functional Safety Growth Trends by Region
2.2.1 Global Functional Safety Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Functional Safety Historic Market Size by Region (2019-2024)
2.2.3 Functional Safety Forecasted Market Size by Region (2025-2030)
2.3 Functional Safety Market Dynamics
2.3.1 Functional Safety Industry Trends
2.3.2 Functional Safety Market Drivers
2.3.3 Functional Safety Market Challenges
2.3.4 Functional Safety Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Functional Safety Players by Revenue
3.1.1 Global Top Functional Safety Players by Revenue (2019-2024)
3.1.2 Global Functional Safety Revenue Market Share by Players (2019-2024)
3.2 Global Functional Safety Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Functional Safety Revenue
3.4 Global Functional Safety Market Concentration Ratio
3.4.1 Global Functional Safety Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Functional Safety Revenue in 2023
3.5 Functional Safety Key Players Head office and Area Served
3.6 Key Players Functional Safety Product Solution and Service
3.7 Date of Enter into Functional Safety Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Functional Safety Breakdown Data by Type
4.1 Global Functional Safety Historic Market Size by Type (2019-2024)
4.2 Global Functional Safety Forecasted Market Size by Type (2025-2030)
5 Functional Safety Breakdown Data by Application
5.1 Global Functional Safety Historic Market Size by Application (2019-2024)
5.2 Global Functional Safety Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Functional Safety Market Size (2019-2030)
6.2 North America Functional Safety Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Functional Safety Market Size by Country (2019-2024)
6.4 North America Functional Safety Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Functional Safety Market Size (2019-2030)
7.2 Europe Functional Safety Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Functional Safety Market Size by Country (2019-2024)
7.4 Europe Functional Safety Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Functional Safety Market Size (2019-2030)
8.2 Asia-Pacific Functional Safety Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Functional Safety Market Size by Region (2019-2024)
8.4 Asia-Pacific Functional Safety Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Functional Safety Market Size (2019-2030)
9.2 Latin America Functional Safety Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Functional Safety Market Size by Country (2019-2024)
9.4 Latin America Functional Safety Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Functional Safety Market Size (2019-2030)
10.2 Middle East & Africa Functional Safety Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Functional Safety Market Size by Country (2019-2024)
10.4 Middle East & Africa Functional Safety Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Siemens
11.1.1 Siemens Company Detail
11.1.2 Siemens Business Overview
11.1.3 Siemens Functional Safety Introduction
11.1.4 Siemens Revenue in Functional Safety Business (2019-2024)
11.1.5 Siemens Recent Development
11.2 ABB
11.2.1 ABB Company Detail
11.2.2 ABB Business Overview
11.2.3 ABB Functional Safety Introduction
11.2.4 ABB Revenue in Functional Safety Business (2019-2024)
11.2.5 ABB Recent Development
11.3 Honeywell
11.3.1 Honeywell Company Detail
11.3.2 Honeywell Business Overview
11.3.3 Honeywell Functional Safety Introduction
11.3.4 Honeywell Revenue in Functional Safety Business (2019-2024)
11.3.5 Honeywell Recent Development
11.4 General Electric
11.4.1 General Electric Company Detail
11.4.2 General Electric Business Overview
11.4.3 General Electric Functional Safety Introduction
11.4.4 General Electric Revenue in Functional Safety Business (2019-2024)
11.4.5 General Electric Recent Development
11.5 Schneider Electric
11.5.1 Schneider Electric Company Detail
11.5.2 Schneider Electric Business Overview
11.5.3 Schneider Electric Functional Safety Introduction
11.5.4 Schneider Electric Revenue in Functional Safety Business (2019-2024)
11.5.5 Schneider Electric Recent Development
11.6 Rockwell Automation
11.6.1 Rockwell Automation Company Detail
11.6.2 Rockwell Automation Business Overview
11.6.3 Rockwell Automation Functional Safety Introduction
11.6.4 Rockwell Automation Revenue in Functional Safety Business (2019-2024)
11.6.5 Rockwell Automation Recent Development
11.7 Emerson Electric
11.7.1 Emerson Electric Company Detail
11.7.2 Emerson Electric Business Overview
11.7.3 Emerson Electric Functional Safety Introduction
11.7.4 Emerson Electric Revenue in Functional Safety Business (2019-2024)
11.7.5 Emerson Electric Recent Development
11.8 Honeywell International
11.8.1 Honeywell International Company Detail
11.8.2 Honeywell International Business Overview
11.8.3 Honeywell International Functional Safety Introduction
11.8.4 Honeywell International Revenue in Functional Safety Business (2019-2024)
11.8.5 Honeywell International Recent Development
11.9 HIMA Paul Hildebrandt
11.9.1 HIMA Paul Hildebrandt Company Detail
11.9.2 HIMA Paul Hildebrandt Business Overview
11.9.3 HIMA Paul Hildebrandt Functional Safety Introduction
11.9.4 HIMA Paul Hildebrandt Revenue in Functional Safety Business (2019-2024)
11.9.5 HIMA Paul Hildebrandt Recent Development
11.10 Endress+Hauser Management
11.10.1 Endress+Hauser Management Company Detail
11.10.2 Endress+Hauser Management Business Overview
11.10.3 Endress+Hauser Management Functional Safety Introduction
11.10.4 Endress+Hauser Management Revenue in Functional Safety Business (2019-2024)
11.10.5 Endress+Hauser Management Recent Development
11.11 TUV Rheinland
11.11.1 TUV Rheinland Company Detail
11.11.2 TUV Rheinland Business Overview
11.11.3 TUV Rheinland Functional Safety Introduction
11.11.4 TUV Rheinland Revenue in Functional Safety Business (2019-2024)
11.11.5 TUV Rheinland Recent Development
11.12 Omron
11.12.1 Omron Company Detail
11.12.2 Omron Business Overview
11.12.3 Omron Functional Safety Introduction
11.12.4 Omron Revenue in Functional Safety Business (2019-2024)
11.12.5 Omron Recent Development
11.13 Yokogawa Electric
11.13.1 Yokogawa Electric Company Detail
11.13.2 Yokogawa Electric Business Overview
11.13.3 Yokogawa Electric Functional Safety Introduction
11.13.4 Yokogawa Electric Revenue in Functional Safety Business (2019-2024)
11.13.5 Yokogawa Electric Recent Development
11.14 DEKRA
11.14.1 DEKRA Company Detail
11.14.2 DEKRA Business Overview
11.14.3 DEKRA Functional Safety Introduction
11.14.4 DEKRA Revenue in Functional Safety Business (2019-2024)
11.14.5 DEKRA Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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