Global Functional Safety Market to Reach $9 Billion by 2030
The global market for Functional Safety estimated at US$5.8 Billion in the year 2022, is projected to reach a revised size of US$9 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2022-2030. Safety Sensors, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$3.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Safety Relays segment is readjusted to a revised 5.6% CAGR for the next 8-year period.The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 5.1% CAGR
The Functional Safety market in the U.S. is estimated at US$1.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 5.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 4.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.Select Competitors (Total 21 Featured) -
- ABB Ltd.
- Balluff, Inc.
- BEI Sensors
- Bosch Rexroth AG
- Emerson Electric Company
- Endress+Hauser Management AG
- exida.com LLC
- General Electric Company
- HIMA Paul Hildebrandt GmbH
- Honeywell International, Inc.
- Intel Corporation
- Mangan Software Solutions
- Mitsubishi Electric Corporation
- Moore Industries-International, Inc.
- Omron Corporation
- Pepperl+Fuchs GmbH
- Phoenix Contact GmbH & Co. KG
- Pilz GmbH & Co. KG
- Renesas Electronics Corporation
- Rockwell Automation, Inc.
- Schneider Electric SA
- Siemens AG
- TUV Rheinland AG
- UL LLC (Underwriters Laboratories)
- Yokogawa Electric Corporation
What's New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB Ltd.
- Balluff, Inc.
- BEI Sensors
- Bosch Rexroth AG
- Emerson Electric Company
- Endress+Hauser Management AG
- exida.com LLC
- General Electric Company
- HIMA Paul Hildebrandt GmbH
- Honeywell International, Inc.
- Intel Corporation
- Mangan Software Solutions
- Mitsubishi Electric Corporation
- Moore Industries-International, Inc.
- Omron Corporation
- Pepperl+Fuchs GmbH
- Phoenix Contact GmbH & Co. KG
- Pilz GmbH & Co. KG
- Renesas Electronics Corporation
- Rockwell Automation, Inc.
- Schneider Electric SA
- Siemens AG
- TUV Rheinland AG
- UL LLC (Underwriters Laboratories)
- Yokogawa Electric Corporation
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 234 |
Published | April 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 5.8 Billion |
Forecasted Market Value ( USD | $ 9 Billion |
Compound Annual Growth Rate | 5.6% |
Regions Covered | Global |