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Functional Safety Market

Publisher Coherent Market Insights
Published Oct 01, 2025
Length 158 Pages
SKU # CMI20535514

Description

Functional safety is a critical part of safe operation in many industrial automation equipment. It provides manufacturers with fewer downtimes and increased efficiencies. This allows them to operate closer to the margins of their product.

The design process for functional safety requires developers to understand the standards that they are following and how they can use them to improve the safety of their product. Functional safety standards provide guidance on how to prevent design bugs, how to detect and analyze a failure in a safety device, and how to reduce the risk of equipment damage. Moreover, there are several components and processes that must be considered during the design process.

Market Dynamics

The increasing demand for robust safety systems in a variety of industries is expected to propel growth of the global functional safety market over the forecast period. Various factors are driving the demand, including the fourth industrial revolution and the increasing use of electrical and automated safeguards.

One of the major challenges in the functional safety industry is the high cost of installation. This has impeded the market from reaching its full potential. Moreover, lack of awareness regarding functional safety systems is also hampering growth of the global functional safety market.

Key features of the study
  • This report provides in-depth analysis of the global functional safety market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global functional safety market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Banner Engineering Corporation, Rockwell Automation Inc., Pepperl+Fuchs SE, Emerson Electric Company, Panasonic Industry Europe GmbH (Panasonic Corporation), Honeywell International Inc., Sick AG, Yokogawa Electric Corporation, Omron Corporation, ABB Ltd., General Electric Company, Schneider Electric SE, and Siemens AG
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global functional safety market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global functional safety market
Market Segmentation
  • Global Functional Safety Market, By Device Type
  • Safety Sensors
  • Safety Controllers/Modules/Relays
  • Safety Switches
  • Programmable Safety Systems
  • Emergency Stop Devices
  • Final Control Elements (Valves, Actuators)
  • Other Device Types
  • Global Functional Safety Market, By Safety Systems
  • Burner Management System (BMS)
  • Turbomachinery Control (TMC) System
  • High-Integrity Pressure Protection Systems (HIPPS)
  • Fire and Gas Monitoring Control System
  • Emergency Shutdown Systems (ESD)
  • Supervisory Control and Data Acquisition (SCADA) Systems
  • Distributed Control System (DCS)
  • Global Functional Safety Market, By End User Industry
  • Oil and Gas
  • Power Generation
  • Food and Beverage
  • Pharmaceutical
  • Automotive
  • Other End user Industries
  • By Region
  • North America
  • U.S.
  • Canada
  • Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
  • Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
  • Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
  • Africa
  • South Africa
  • North Africa
  • Central Africa
  • Company Profiles
  • Banner Engineering Corporation
  • Rockwell Automation Inc.
  • Pepperl+Fuchs SE
  • Emerson Electric Company
  • Panasonic Industry Europe GmbH
  • Honeywell International Inc.
  • Sick AG
  • Yokogawa Electric Corporation
  • Omron Corporation
  • ABB Ltd
  • General Electric Company
  • Schneider Electric SE
  • Siemens AG

Table of Contents

158 Pages
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snapshot, By Device Type
Market Snapshot, By Safety Systems
Market Snapshot, By End Users Industry
Market Snapshot, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Rise in standards for industrial safety
Growing adoption of functional safety systems in several industries
Restraints
Rise in complexity along with high initial and maintenance costs
Lack of awareness and complexity of global standards
Opportunities
Increasing growth of services market
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER’s Analysis
Merger and Acquisition Scenario
4. Global Functional Safety Market, By Device Type, 2025-2032, (US$ Mn)
Introduction
Market Share Analysis, 2022 and 2032 (%)
Y-o-Y Growth Analysis, 2025 – 2032
Segment Trends
Safety Sensors
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032, (US$ Mn)
Safety Controllers/Modules/Relays
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032, (US$ Mn)
Safety Switches
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Mn)
Programmable Safety Systems
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Mn)
Emergency Stop Devices
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Mn)
Final Control Elements (Valves, Actuators)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Mn)
Other Device Types
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Mn)
5. Global Functional Safety Market , By Safety Systems, 2025-2032, (US$ Mn)
Introduction
Market Share Analysis, 2022 and 2032 (%)
Y-o-Y Growth Analysis, 2025 – 2032
Segment Trends
Burner Management System (BMS)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Turbomachinery Control (TMC) System
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
High-Integrity Pressure Protection Systems (HIPPS)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Fire and Gas Monitoring Control System
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Emergency Shutdown Systems (ESD)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Supervisory Control and Data Acquisition (SCADA) Systems
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Distributed Control System (DCS)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
6. Global Functional Safety Market , By End User Industry, 2025-2032, (US$ Mn)
Introduction
Market Share Analysis, 2022 and 2032 (%)
Y-o-Y Growth Analysis, 2025 – 2032
Segment Trends
Oil and Gas
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Power Generation
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Food and Beverage
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Pharmaceutical
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Automotive
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
Other End User Industries
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2025-2032,(US$ Million)
7. Global Functional Safety Market, By Region, 2025-2032, (US$ Mn)
Introduction
Market Share Analysis, By Country, 2022 and 2032 (%)
Y-o-Y Growth Analysis, For Country 2025–2032
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Device Type, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Safety Systems, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End Users Industry, 2025-2032,(US$ Mn)
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Device Type, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Safety Systems, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End Users Industry, 2025-2032,(US$ Mn)
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Device Type, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Safety Systems, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End Users Industry, 2025-2032,(US$ Mn)
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Device Type, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Safety Systems, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End Users Industry, 2025-2032,(US$ Mn)
Middle East & Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Device Type, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Safety Systems, 2025-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End Users Industry, 2025-2032,(US$ Mn)
8. Competitive Landscape
Rockwell Automation Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Emerson Electric Company
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Honeywell International Inc.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Yokogawa Electric Corporation
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
ABB Ltd
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Schneider Electric SE
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Siemens AG
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
General Electric Company
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Omron Corporation
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Sick AG
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Analyst Views
9. Section
Research Methodology
About us

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