Safety Instrumented System Market 2021 report explores the future trends, top companies development and forecasts-Rockwell Automation Inc., Emerson Electric Company

Safety Instrumented System Market by Component, Application, Services, and Region- Forecast to 2026

The Global Safety Instrumented System Market Research Report 2021-2026 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the Safety Instrumented System business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Safety Instrumented System worth chain and its wholesaler examination. Safety Instrumented System Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The safety instrumented systems market was valued at USD 3.1 billion in 2020 and is expected to reach USD 6.9 billion by 2026, at a CAGR of 12.5% over the forecast period 2021 - 2026.

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Top Leading Companies of Safety Instrumented System Market are Rockwell Automation Inc., Emerson Electric Company, Honeywell International Inc., Yokogawa Electric Corporation, ABB Ltd, Schneider Electric SE, Siemens AG, General Electric Company, OMRON Corporation, Tyco International PLC and others.

Industry News And Updates on Safety Instrumented System Market-

Asia-Pacific to Witness the Highest Growth

- Increasing investments in renewable energy production, across countries, such as China and India, as well as increasing FDA investments in Chinas strong F&B, pharmaceuticals, and semiconductor industries, to ramp up new production capacities are propelling the demand for safety systems in the region.

- Furthermore, the industrial production capacity in the region has increased, owing to the continued development of the nations in the region. Comparatively, cheap labor has been a major factor in driving investment in the region and is expected to continue to drive the market.

- Owing to the abovementioned factors influencing the market space, Asia-Pacific is expected to register the fastest CAGR, over the forecast period.

Key Market Trends Safety Instrumented System Market-

Food and Beverage Hold the Major Market Share

- The food and beverage industry is becoming more automated as the population is growing. Other driving factors, which contribute to increased automation is the scarcity of suitable cheap labor, health and safety laws, and advancement in robotics.

- With the additional factor of increases in regulations, such as FSMA (Food Safety Modernisation Act), which affects everyone doing business with the United States of America via the FSVP (Foreign Supplier Verification Programs), all forms of the food and beverage industry can expect to become more reliant on automation and computer-based systems that manage every part of the process, across the supply chain.

Competitive Landscape On Safety Instrumented System Market-

April 2019 - Rockwell Automation launched its ControlLogix 5580 controller for industrial control system security. It provides built-in security based on globally accepted security standards, to protect control-level communications and overall system integrity.

- April 2019 - Honeywell introduced an automated robotic system for unloading a range of packages from truck trailers and shipping containers at distribution centers. This smart robotics system can help users to improve workplace safety, reduce staffing challenges and minimize damage to packages.

- April 2019 - Blackline Safety announced its G7 Exo area monitoring system. The G7 Exo is part of Blackline's overall connected safety lineup.

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