The functional safety market is expected to grow from $4.4 billion in 2020 to $5.3 billion in 2025 at a CAGR of 3%. Market growth is fueled by fiscal policy measures taken by local financial institutions to maintain manufacturing facilities in the midst of the COVID-19 crisis, strict obligations on safety regulations, a surge in demand for safety systems in the oil and gas industry, and high demand for stable safety systems. Driven by requirements. Ensure human and asset protection and rise of the industrial revolution 4.0.
A full report of Functional Safety Market is available at: https://www.orionmarketreports.com/functional-safety-market/41780/
Segmentation: Global Functional Safety Market
By Device
• Safety Sensors
• Safety Switches
• Safety Controllers/Modules/Relays
• Programmable Safety Systems
• Emergency Stop Devices
• Final Control Elements
• Others
By System
• Safety Instrumented Systems (SIS)
• Industrial Control Systems
By Application
Process Industry
• Oil & Gas
• Power Generation
• Chemical
• Food and Beverages
• Water and Wastewater
• Pharmaceutical and Biotech
• Metal & Mining
• Others
Discrete Industries
• Automotive
• Railways
• Medical
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Key Questions Answered by Functional Safety Market Report
• What was the Functional Safety Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
• What will be the CAGR of Functional Safety Market during the forecast period (2019-2025)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2019-2025)?
• Which manufacturer/vendor/players in the Functional Safety Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
