
Functional Safety Market Size, Share, By Offerings, Services, Systems, End-User, and Region - Trends, Analysis, and Forecast till 2035
Description
Functional Safety Market Size, Share, By Offerings, Services, Systems, End-User, and Region - Trends, Analysis, and Forecast till 2035
Functional safety is a critical aspect of system and equipment design that ensures the safe operation of devices or systems in the presence of potential faults or failures. It focuses on detecting, mitigating, and managing risks that could arise from system malfunctions, thereby preventing harm to people, the environment, and property. The target market is a rapidly growing sector driven by the increasing adoption of safety standards across industries to mitigate risks associated with system failures.
Functional Safety Market Report Highlights:
Gain valuable insights into revenue projections for the overall market and its sub-segments, benefiting industry leaders and new entrants.
Enhance your understanding of the competitive landscape to refine business positioning and optimize go-to-market strategies.
Stay informed on the latest trends in the Functional Safety Market, including key drivers, challenges, opportunities, and barriers.
Functional Safety Market Key Highlights:
In November 2024, indie Semiconductor, an automotive solutions innovator, has launched a system basis safety integrated chip (IC) solution for vehicle powertrain applications. Developed in close partnership with a leading European Tier 1 automotive system integrator, the IC provides critical safety monitor and supervision functionality for mission-critical powertrain operation. The solution has been independently certified by SGS-TÜV Saar as ASIL-D (Automotive Safety Integrity Level D), the highest safety level defined in ISO 26262, the international standard for functional safety in road vehicles.
Segmentation:
By Offerings:
Safeline Solutions
Schneider Electric
ABB Ltd.
Honeywell International Inc.
Emerson Electric Co.
Rockwell Automation, Inc.
Yokogawa Electric Corporation
HIMA Paul Hildebrandt GmbH
Omron Corporation
Siemens AG
General Electric Company
UL Solutions
Spyrosoft
B&R Industrial Automation GmbH
Key Questions Answered in This Report
1. What was the size of the Functional Safety Market in 2024?
2. What is the expected growth rate of the Functional Safety Market during 2025-2035?
3. What are the key factors driving the Functional Safety Market?
4. What is the breakup of the Functional Safety Market based on the distribution channel?
5. What are the key regions in the Functional Safety Market?
6. Who are the key players/companies in the Functional Safety Market?
7. What are the drivers, restraints, and opportunities in the Functional Safety Market?
Functional safety is a critical aspect of system and equipment design that ensures the safe operation of devices or systems in the presence of potential faults or failures. It focuses on detecting, mitigating, and managing risks that could arise from system malfunctions, thereby preventing harm to people, the environment, and property. The target market is a rapidly growing sector driven by the increasing adoption of safety standards across industries to mitigate risks associated with system failures.
Functional Safety Market Report Highlights:
- By 2035, the target market is expected to increase at a rate of USD 12.8 Billion.
- In 2024, functional safety market size was estimated to be worth USD 7.2 Billion.
- The market is growing at a CAGR of 6.5%.
- By offerings, the components segment is expected to dominate the market during the forecast period.
- Based on systems, the emergency shutdown systems (ESD) segment is leading the market.
- On the basis of end-user, the market is being dominated by the oil and gas segment.
- North America is expected to hold the largest market share during the forecast period.
- Asia Pacific is projected to be the fastest growing region in the market during the forecast period.
Gain valuable insights into revenue projections for the overall market and its sub-segments, benefiting industry leaders and new entrants.
Enhance your understanding of the competitive landscape to refine business positioning and optimize go-to-market strategies.
Stay informed on the latest trends in the Functional Safety Market, including key drivers, challenges, opportunities, and barriers.
Functional Safety Market Key Highlights:
In November 2024, indie Semiconductor, an automotive solutions innovator, has launched a system basis safety integrated chip (IC) solution for vehicle powertrain applications. Developed in close partnership with a leading European Tier 1 automotive system integrator, the IC provides critical safety monitor and supervision functionality for mission-critical powertrain operation. The solution has been independently certified by SGS-TÜV Saar as ASIL-D (Automotive Safety Integrity Level D), the highest safety level defined in ISO 26262, the international standard for functional safety in road vehicles.
Segmentation:
By Offerings:
- Component
- Safety Sensors
- Safety Controllers
- Safety Switches
- Programmable Safety Systems
- Emergency Stop Devices
- Final Control Elements
- Other Component
- Services
- Testing & Certification
- Maintenance
- Training & Consulting
- Burner Management Systems (BMS)
- Turbomachinery Control Systems (TMC)
- High-Integrity Pressure Protection Systems (HIPPS)
- Fire and Gas Monitoring Control Systems
- Emergency Shutdown Systems (ESD)
- Supervisory Control Data Acquisition (SCADA) Systems
- Others
- Oil & Gas
- Power Generation
- Automotive
- Pharmaceutical
- Metal and Mining
- Others
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Safeline Solutions
Schneider Electric
ABB Ltd.
Honeywell International Inc.
Emerson Electric Co.
Rockwell Automation, Inc.
Yokogawa Electric Corporation
HIMA Paul Hildebrandt GmbH
Omron Corporation
Siemens AG
General Electric Company
UL Solutions
Spyrosoft
B&R Industrial Automation GmbH
Key Questions Answered in This Report
1. What was the size of the Functional Safety Market in 2024?
2. What is the expected growth rate of the Functional Safety Market during 2025-2035?
3. What are the key factors driving the Functional Safety Market?
4. What is the breakup of the Functional Safety Market based on the distribution channel?
5. What are the key regions in the Functional Safety Market?
6. Who are the key players/companies in the Functional Safety Market?
7. What are the drivers, restraints, and opportunities in the Functional Safety Market?
Table of Contents
189 Pages
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Preview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Offerings
- Market Snippet, By Systems
- Market Snippet, By End-User
- Market Snippet, By Region
- Opportunity Map Analysis
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Type Launch
- Merger and Acquisitions
- Impact Analysis
- PEST Analysis
- Porter’s Analysis
- Advanced Functional Safety Solution For Automotive SoCs
- Safety Cases And Their Role In ISO 26262 Functional Safety Assessment
- A Functional Safety Assessment Method For Cooperative Automotive Architecture
- Market Segmentation, By Offerings, Forecast Period up to 10 Years, (USD Bn)
- Overview
- Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Component
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Safety Sensors
- Safety Controllers
- Safety Switches
- Programmable Safety Systems
- Emergency Stop Devices
- Final Control Elements
- Other Component
- Services
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Testing & Certification
- Maintenance
- Training & Consulting
- Market Segmentation, By Systems, Forecast Period up to 10 Years, (USD Bn)
- Overview
- Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Burner Management Systems (BMS)
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Turbomachinery Control Systems (TMC)
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- High-Integrity Pressure Protection Systems (HIPPS)
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Fire and Gas Monitoring Control Systems
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Emergency Shutdown Systems (ESD)
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Supervisory Control Data Acquisition (SCADA) Systems
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Others
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Market Segmentation, By End User, Forecast Period up to 10 Years, (USD Bn)
- Overview
- Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Oil & Gas
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Power Generation
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Automotive
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Pharmaceutical
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Metal and Mining
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Others
- Overview
- Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Market Segmentation, By Region, Forecast Period up to 10 Years, (USD Bn)
- Overview
- Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (USD Bn), By Offerings, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Systems, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
- U.S
- Canada
- Asia Pacific
- Market Size and Forecast (USD Bn), By Offerings, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Systems, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- South Korea
- Rest of Asia Pacific
- Europe
- Market Size and Forecast (USD Bn), By Offerings, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Systems, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
- Germany
- U.K.
- France
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
- Latin America
- Market Size and Forecast (USD Bn), By Offerings, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Systems, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
- Market Size and Forecast (USD Bn), By Offerings, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Systems, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years
- Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East and Africa
Pricing
Currency Rates
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