Market Research Logo

Functional Safety Market by Device (Safety Sensors, Safety PLCs, Safety Relays, Valves, Actuators), System (Emergency shutdown System, Turbomachinery Control, Fire and Gas Monitoring Control, HIPPS, BMS, SCADA, DCS), Application - Global Forecast to 2022

Functional Safety Market by Device (Safety Sensors, Safety PLCs, Safety Relays, Valves, Actuators), System (Emergency shutdown System, Turbomachinery Control, Fire and Gas Monitoring Control, HIPPS, BMS, SCADA, DCS), Application - Global Forecast to 2022

“Functional safety market to exhibit significant growth between 2017 and 2022”
The functional safety market is expected to grow at a CAGR of 8.2% between 2017 and 2022 to reach USD 7.19 billion by 2022. 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. However, high initial investments related to the installation of functional safety systems act as a major restraining factor for the growth of this market.

“Safety sensors to hold the largest share of the functional safety market by 2022”
Safety sensors are used in automatic safety barriers, edges, electronic safety sensors, emergency stop (e-stop), palm buttons, safety controls, laser scanners, light curtains, mats, optoelectronic devices (single and multi-beam), and two-hand safety controls. The increasing security requirements for protecting workers and production units from any accidents, according to the strict regulations fulfilling the national and international standards, are driving the demand for safety sensors.

“Market for fire & gas monitoring control to grow at a high rate between 2017 and 2022”
Fire and gas safety systems continuously monitor situations such as a fire or combustible or toxic gas release within the plant; provide early warning; and guide on preventing escalation of the incident and protecting the process or environment. By implementing functional safety-certified fire and gas systems, plants can meet their safety and critical infrastructure protection requirements. The IEC 61511 and ANSI/ISA standards are increasingly being followed in various process industries such as oil & gas, chemical, and power generation, thereby contributing to the high growth of the market for fire and gas monitoring control.

“Market for power generation applications to grow at a high rate between 2017 and 2022”
The functional safety market for power generation applications is expected to grow at a high rate during the forecast period. Safety systems play an important role in maintaining functional safety and efficiency of power plants. Some of the major benefits of applying safety instrumented systems in power plants are efficiency improvement, operation optimization, unplanned downtime reduction, and high cost savings. Due to this, safety instrumented systems are widely adopted in power generation plants, which is contributing to market growth.

“Europe to hold the largest share of the overall functional safety market during the forecast period”
The implementation of various directives and industrial process and machine safety regulations in the region is driving the demand for functional safety systems. Europe follows safety standards such as EN 61508, EN 61511, and EN 62061. The increasing adoption of functional safety solutions to comply with these standards and workplace safety regulations is driving the growth of the market in this region.

The break-up of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 – 20%, Tier 2 – 43%, and Tier 3 – 37%
• By Designation: C–Level Executives – 65% and Directors– 35%
• By Region: North America - 24%, Europe – 38%, APAC – 23%, and RoW – 15%
The major players operating in this market are Siemens AG (Germany), Rockwell Automation Inc. (US), ABB Ltd. (Switzerland), Schneider Electric SE (France), and Emerson Electric Co. (US). The other prominent players in this market include General Electric Co. (US), Honeywell International Inc. (US), HIMA Paul Hildebrandt GmbH (Germany), Endress+Hauser Management AG (Switzerland), TUV Rheinland (Germany), Omron Corporation (Japan), and Yokogawa Electric Corporation (Japan).

Research Coverage:
The research report covers the overall functional safety market on the basis of device, system, application, and geography. The market, on the basis of device, has been segmented into safety sensors, safety switches, safety controllers/modules/relays, programmable safety systems, emergency stop devices, valves, actuators, and others. Based on system, the market has been classified into safety instrumented systems and industrial control systems. The market, on the basis of application, has been segmented into process industry and discrete industry. The process industry has been further segmented into oil & gas, chemicals, power generation, food & beverages, metal & mining, water & wastewater, pharmaceuticals and biotech, and others; and the discrete industry has been subsegmented into automotive, railways, and medical. The report covers the market in four major regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:
Illustrative segmentations, analyses, and forecasts for the market based on device, system, application, and geography have been conducted to give an overall view of the functional safety market.
The major drivers, restraints, opportunities, and challenges for the functional safety market have been detailed in this report.
The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • PACKAGE SIZE
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table FUNCTIONAL SAFETY MARKET, IN TERMS OF VALUE AND VOLUME, 2014–2022 (USD BILLION)
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE FUNCTIONAL SAFETY MARKET
    • FUNCTIONAL SAFETY MARKET, BY DEVICE (2017–2022)
    • FUNCTIONAL SAFETY MARKET FOR PROCESS INDUSTRY (2017–2022)
    • FUNCTIONAL SAFETY MARKET, BY APPLICATION AND REGION (2017)
    • FUNCTIONAL SAFETY MARKET, BY REGION
    • FUNCTIONAL SAFETY MARKET, BY GEOGRAPHY (2017)
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • FUNCTIONAL SAFETY LIFECYCLE
    • SAFETY INTEGRITY LEVEL (SIL)
      • Table SIL-RELATED MEASURES
    • FUNCTIONAL SAFETY STANDARDS
      • PROCESS INDUSTRY
      • MACHINERY
      • RAILWAY
      • AUTOMOTIVE
      • CYBER SECURITY
  • FUNCTIONAL SAFETY MARKET, BY DEVICE
    • INTRODUCTION
      • Table FUNCTIONAL SAFETY MARKET, BY DEVICE, 2014–2022 (USD MILLION)
    • SAFETY SENSORS
      • Table FUNCTIONAL SAFETY MARKET FOR SAFETY SENSORS, BY SYSTEM, 2014–2022 (USD MILLION)
    • SAFETY SWITCHES
      • Table FUNCTIONAL SAFETY MARKET FOR SAFETY SWITCHES, BY SYSTEM, 2014–2022 (USD MILLION)
    • SAFETY CONTROLLERS/MODULES/RELAYS
      • Table FUNCTIONAL SAFETY MARKET FOR SAFETY CONTROLLERS/ MODULES/RELAYS, BY SYSTEM, 2014–2022 (USD MILLION)
    • PROGRAMMABLE SAFETY SYSTEMS
      • Table FUNCTIONAL SAFETY MARKET FOR PROGRAMMABLE SAFETY SYSTEMS, BY SYSTEM, 2014–2022 (USD MILLION)
    • EMERGENCY STOP DEVICES
      • Table FUNCTIONAL SAFETY MARKET FOR EMERGENCY STOP DEVICES, BY SYSTEM, 2014–2022 (USD MILLION)
    • FINAL CONTROL ELEMENTS
      • VALVES
        • Table FUNCTIONAL SAFETY MARKET FOR VALVES, BY SYSTEM, 2014–2022 (USD MILLION)
      • ACTUATORS
        • Table FUNCTIONAL SAFETY MARKET FOR ACTUATORS, BY SYSTEM, 2014–2022 (USD MILLION)
    • OTHERS
      • Table FUNCTIONAL SAFETY MARKET FOR OTHER DEVICES, BY SYSTEM, 2014–2022 (USD MILLION)
  • FUNCTIONAL SAFETY MARKET, BY SYSTEM
    • INTRODUCTION
      • Table FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2014–2022 (USD MILLION)
      • Table FUNCTIONAL SAFETY MARKET FOR SAFETY INSTRUMENTED SYSTEMS, 2014–2022 (USD MILLION)
      • Table FUNCTIONAL SAFETY MARKET FOR INDUSTRIAL CONTROL SYSTEMS, 2014–2022 (USD MILLION)
    • SAFETY INSTRUMENTED SYSTEMS (SIS)
      • EMERGENCY SHUTDOWN SYSTEMS (ESD)
        • Table MARKET FOR EMERGENCY SHUTDOWN SYSTEMS FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR EMERGENCY SHUTDOWN SYSTEMS FOR DISCRETE INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR EMERGENCY SHUTDOWN SYSTEMS, BY REGION, 2014–2022 (USD MILLION)
      • FIRE & GAS MONITORING CONTROL
        • Table FUNCTIONAL SAFETY MARKET FOR FIRE & GAS MONITORING CONTROL FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR FIRE & GAS MONITORING CONTROL FOR DISCRETE INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR FIRE & GAS MONITORING CONTROL, BY REGION, 2014–2022 (USD MILLION)
      • TURBOMACHINERY CONTROL (TMC)
        • Table FUNCTIONAL SAFETY MARKET FOR TURBOMACHINERY CONTROL FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR TURBOMACHINERY CONTROL, BY REGION, 2014–2022 (USD MILLION)
      • BURNER MANAGEMENT SYSTEM (BMS)
        • Table FUNCTIONAL SAFETY MARKET FOR BURNER MANAGEMENT SYSTEMS FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR BURNER MANAGEMENT SYSTEMS, BY REGION, 2014–2022 (USD MILLION)
      • HIGH-INTEGRITY PRESSURE PROTECTION SYSTEMS (HIPPS)
        • Table FUNCTIONAL SAFETY MARKET FOR HIGH-INTEGRITY PRESSURE PROTECTION SYSTEMS FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR HIGH-INTEGRITY PRESSURE PROTECTION SYSTEMS, BY REGION, 2014–2022 (USD MILLION)
    • INDUSTRIAL CONTROL SYSTEMS
      • SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA) SYSTEMS
        • Table FUNCTIONAL SAFETY MARKET FOR SCADA SYSTEMS FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR SCADA SYSTEMS FOR DISCRETE INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR SCADA SYSTEMS, BY REGION, 2014–2022 (USD MILLION)
      • DISTRIBUTED CONTROL SYSTEM (DCS)
        • Table FUNCTIONAL SAFETY MARKET FOR DISTRIBUTED CONTROL SYSTEMS FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR DISTRIBUTED CONTROL SYSTEMS, BY REGION, 2014–2022 (USD MILLION)
  • FUNCTIONAL SAFETY MARKET, BY APPLICATION
    • INTRODUCTION
      • Table FUNCTIONAL SAFETY MARKET, BY APPLICATION, 2014–2022 (USD MILLION)
      • Table FUNCTIONAL SAFETY MARKET FOR PROCESS INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
      • Table FUNCTIONAL SAFETY MARKET FOR DISCRETE INDUSTRY, BY APPLICATION, 2014–2022 (USD MILLION)
    • PROCESS INDUSTRY
      • OIL & GAS
        • Table FUNCTIONAL SAFETY MARKET FOR OIL AND GAS INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR OIL AND GAS INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • POWER GENERATION
        • Table FUNCTIONAL SAFETY MARKET FOR POWER GENERATION INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR POWER GENERATION INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • CHEMICAL
        • Table FUNCTIONAL SAFETY MARKET FOR CHEMICAL INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR CHEMICAL INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • FOOD AND BEVERAGES
        • Table FUNCTIONAL SAFETY MARKET FOR FOOD AND BEVERAGES INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR FOOD AND BEVERAGES INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • WATER AND WASTEWATER
        • Table FUNCTIONAL SAFETY MARKET FOR WATER AND WASTEWATER INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR WATER AND WASTEWATER INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • PHARMACEUTICAL AND BIOTECH
        • Table FUNCTIONAL SAFETY MARKET FOR PHARMACEUTICAL AND BIOTECH INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR PHARMACEUTICAL AND BIOTECH INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • METAL & MINING
        • Table FUNCTIONAL SAFETY MARKET FOR METAL & MINING INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR METAL & MINING INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • OTHERS
        • Table FUNCTIONAL SAFETY MARKET FOR OTHER PROCESS INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR OTHER PROCESS INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
    • DISCRETE INDUSTRIES
      • AUTOMOTIVE
        • Table FUNCTIONAL SAFETY MARKET FOR AUTOMOTIVE INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR AUTOMOTIVE INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • RAILWAYS
        • Table FUNCTIONAL SAFETY MARKET FOR RAILWAY INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR RAILWAY INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
      • MEDICAL
        • Table FUNCTIONAL SAFETY MARKET FOR MEDICAL INDUSTRY, BY SYSTEM, 2014–2022 (USD MILLION)
        • Table FUNCTIONAL SAFETY MARKET FOR MEDICAL INDUSTRY, BY REGION, 2014–2022 (USD MILLION)
  • FUNCTIONAL SAFETY MARKET, BY GEOGRAPHY
    • INTRODUCTION
      • Table FUNCTIONAL SAFETY MARKET, BY REGION, 2014–2022 (USD MILLION)
    • NORTH AMERICA
      • Table FUNCTIONAL SAFETY MARKET IN NORTH AMERICA, 2014–2022 (USD MILLION)
      • US
      • CANADA
      • MEXICO
        • Table FUNCTIONAL SAFETY MARKET IN NORTH AMERICA, BY SYSTEM, 2014–2022 (USD MILLION)
    • EUROPE
      • Table FUNCTIONAL SAFETY MARKET IN EUROPE, 2014–2022 (USD MILLION)
      • GERMANY
      • UK
      • FRANCE
      • REST OF EUROPE
        • Table FUNCTIONAL SAFETY MARKET IN EUROPE, BY SYSTEM, 2014–2022 (USD MILLION)
    • APAC
      • Table FUNCTIONAL SAFETY MARKET IN APAC, 2014–2022 (USD MILLION)
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • INDIA
      • REST OF APAC
        • Table FUNCTIONAL SAFETY MARKET IN APAC, BY SYSTEM, 2014–2022 (USD MILLION)
    • ROW
      • Table FUNCTIONAL SAFETY MARKET IN ROW, 2014–2022 (USD MILLION)
      • MIDDLE EAST
      • AFRICA
      • SOUTH AMERICA
        • Table FUNCTIONAL SAFETY MARKET IN ROW, BY SYSTEM, 2014–2022 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • MARKET RANKING ANALYSIS: FUNCTIONAL SAFETY MARKET
      • Table RANKING OF THE KEY PLAYERS IN THE FUNCTIONAL SAFETY MARKET, 2016
    • VENDOR DIVE OVERVIEW
      • VANGUARDS
      • DYNAMIC
      • INNOVATORS
      • EMERGING
    • BUSINESS STRATEGIES ADOPTED BY MAJOR PLAYERS IN THE FUNCTIONAL SAFETY MARKET (25 COMPANIES)
    • ANALYSIS OF THE PRODUCT PORTFOLIO OF MAJOR PLAYERS IN THE FUNCTIONAL SAFETY MARKET (25 COMPANIES)
    • COMPETITIVE SITUATION AND TRENDS
      • NEW PRODUCT LAUNCHES AND DEVELOPMENTS
        • Table MOST SIGNIFICANT PRODUCT LAUNCHES IN THE FUNCTIONAL SAFETY MARKET, 2015–2017
      • PARTNERSHIPS, AGREEMENTS, AND CONTRACTS
        • Table MOST SIGNIFICANT PARTNERSHIPS AND AGREEMENTS IN THE FUNCTIONAL SAFETY MARKET, 2015–2017
      • ACQUISITIONS AND COLLABORATIONS
        • Table MOST SIGNIFICANT ACQUISITIONS AND COLLABORATIONS IN THE FUNCTIONAL SAFETY MARKET, 2015–2017
  • COMPANY PROFILE
    • INTRODUCTION
    • ABB LTD.
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • EMERSON ELECTRIC CO.
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • ROCKWELL AUTOMATION, INC.
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • SCHNEIDER ELECTRIC SE
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • SIEMENS AG
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • GENERAL ELECTRIC CO.
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • HONEYWELL INTERNATIONAL INC.
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • OMRON CORPORATION
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • YOKOGAWA ELECTRIC CORPORATION
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • ENDRESS+HAUSER MANAGEMENT AG
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • HIMA PAUL HILDEBRANDT GMBH + CO KG
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • TUV RHEILAND AG
      • BUSINESS OVERVIEW
      • COMPANY SCORECARD
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIPS
    • KEY INNOVATORS
      • INTEL CORPORATION
      • BALLUF INC.
      • MANGAN SOFTWARE SOLUTIONS
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORT
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report