Press release
Functional Safety Market Report (2022-2027) - Industry Growth, Emerging Trends, Leading Players, Covid-19 Impact and Competitive Analysis
Functional safety represents the general safety of a plant and equipment using various safety-related systems, such as alarm systems, safety instrumented systems (SIS), basic process control systems (BPCS), etc. It generally covers physical or systemic redundancy, fault detection, and transitioning to a safe state to minimize the overall risk caused by faults in the electronic systems. Consequently, functional safety finds wide-ranging applications across several industries, such as automotive, oil and gas, food and beverage (F&B), pharmaceutical, etc.
Request Free Sample Report: https://www.imarcgroup.com/functional-safety-market/requestsample
Functional Safety Market Trends and Drivers:
The increasing number of power projects to meet the inflating demand for energy is primarily driving the functional safety market. Additionally, the rising adoption of sensor switches in machines and other industrial applications to inhibit accidental contact with live electrical connections is further catalyzing the market growth.
Besides this, the growing utilization of safety systems for personnel and asset protection, on account of the implementation of numerous stringent regulations by government bodies across countries, is acting as another significant growth-inducing factor. Moreover, the advent of the industrial internet of things (IIoT) and Industry 4.0 is enabling enterprises to have enhanced reliability and efficiency in their operations, which is also positively influencing the global market.
In line with this, IIoT consists of storage systems, smart machines, and production facilities capable of autonomously triggering actions, exchanging information, and controlling each other independently. This, in turn, is projected to fuel the functional safety market in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Functional Safety Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., Intel Corporation, Johnson Controls, OMRON Corporation, Panasonic Corporation, Pepperl+Fuchs SE, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Yokogawa Electric Corporation.
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/functional-safety-market
The report has segmented the market on the basis of region, device type, safety system and end use industry.
Breakup by Device Type:
• Safety Sensors
• Safety Controllers/Modules/Relays
• Safety Switches
• Programmable Safety Systems
• Emergency Stop Devices
• Final Control Elements
• Others
Breakup by Safety System:
• Burner Management System (BMS)
• Turbomachinery Control System (TMC)
• High-Integrity Pressure Protection System (HIPPS)
• Fire and Gas Monitoring Control System
• Emergency Shutdown System (ESD)
• Supervisory Control and Data Acquisition System (SCADA)
• Distributed Control System (DCS)
Breakup by End Use Industry:
• Oil and Gas
• Power Generation
• Food and Beverage
• Pharmaceutical
• Automotive
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Browse Related Reports by IMARC Group:
Automotive Backup Camera Market Report: https://www.imarcgroup.com/automotive-backup-camera-market
Machine Learning Chip Market Report: https://www.imarcgroup.com/machine-learning-chip-market
Organic Electronics Market Report: https://www.imarcgroup.com/organic-electronics-market
Cyber Situational Awareness Market Report: https://www.imarcgroup.com/cyber-situational-awareness-market
Electronic Nose Market Report: https://www.imarcgroup.com/electronic-nose-market
Contact Us:
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Functional Safety Market Report (2022-2027) - Industry Growth, Emerging Trends, Leading Players, Covid-19 Impact and Competitive Analysis here
News-ID: 2628558 • Views: …
More Releases from IMARC Group
Top 15 Leading Commercial Refrigeration Manufacturers in The World 2024
Commercial Refrigeration Companies
Top commercial refrigeration companies are investing in research and development (R&D) to introduce advanced products that offer enhanced efficiency, better temperature management, and reduced environmental impact. Additionally, companies are integrating internet of things (IoT) technology to allow for real-time monitoring and management of refrigeration systems, which helps in reducing operational costs and improving food safety by maintaining optimal conditions. Key players are developing systems that use less power…
Top Generative AI Companies in The World 2024
Global Generative AI Companies
Generative artificial intelligence (AI), also known as generative adversarial networks (GANs) or generative models, works by learning the patterns and features of a dataset and then generating new data instances that resemble the original data. It can create new content, such as images, videos, text, and music, which can be useful in fields like art, design, and entertainment. It can learn the distribution of normal data and…
Vietnam Water Treatment Chemicals Market Share, Demand, Industry Growth And Fore …
IMARC Group's report titled "Vietnam Water Treatment Chemicals Market Report by Type (Coagulants and Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides and Disinfectants, Chelating Agents, Anti-Foaming Agents, PH Adjusters and Stabilizers, and Others), End User (Municipal, Power, Oil and Gas, Mining, Chemicals, Food and Beverage, Pulp and Paper, and Others), and Region 2024-2032" Vietnam water treatment chemicals market is projected to exhibit a growth rate (CAGR) of 4.99% during 2024-2032.
The Vietnam water…
Furniture Market Size, Sales Revenue, Industry Growth, Forecast 2024-2032
IMARC Group, a leading market research company, has recently releases report titled "Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The global furniture market size reached US$ 660.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 701.7 Billion by 2032.
Request For Sample Copy of Report For More Detailed Market insight: https://www.imarcgroup.com/furniture-market/requestsample
Factors Affecting the Growth of the Furniture Industry:
Rapid Urbanization:
Urban areas are leading…
More Releases for Safety
Welding Safety Market Business Opportunities 2026 - Top Companies are 3M Welding …
A new research study has been presented by Dataintelo.com offering a comprehensive analysis on the Global Welding Safety Market where user can benefit from the complete market research report with all the required useful information about this market. The report discusses all major market aspects with expert opinion on current market status along with historic data. This market report is a detailed study on the growth, investment opportunities, market statistics,…
Welding Safety Market Forecast to 2025 -3M Welding Safety, Broner Glove and Safe …
The research report presents a comprehensive assessment of the Welding Safety Market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.
Request Sample Copy Of this Report @ https://www.upmarketresearch.com/home/requested_sample/75410
Welding Safety Market research…
Fire Blanket Market By Key Players: Tyco International, Kidde Safety, Honeywell …
Fire Blanket Industry Overview
The Fire Blanket market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Fire Blanket market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Fire Blanket market…
A Latest Research On Welding Safety Market Global Analysis By Key Players-3M Wel …
UpMarketResearch offers a latest published report on “Global Welding Safety Market Industry Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 91 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. The report contains basic, secondary and advanced information pertaining to the Welding Safety global status and…
Excellent Growth of Gas Masks Market- 3M, Honeywell, Avon Protection Systems, MS …
MarketResearchNest.com adds “Korea Gas Masks Market Research Report 2018” new report to its research database. The report spread across 112 pages with multiple tables and figures in it.
Korea plays an important role in global market, with market size of xx million USD in 2017 and will be xx million USD in 2025, with a CAGR of xx%.
This report studies the Gas Masks development status and future trend in Korea, focuses…
Functional Safety Market: Mandatory Safety Standards And Government Policies Per …
Functional safety is considered to be a part of overall safety, which is dependent on the entity or system operating normally and correctly in response to the inputs provided to it.
We are surrounded by systems at a variety of places such as factories, public places, offices, and electrical devices at home, which are likely to pose a threat to our safety if they malfunction under certain conditions.
Hence, they are…
