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Functional Safety Market by Offering (Component (Safety Sensor, Programmable Safety System, Final Control Element), Services), System (ESD, TMC, F&G, HIPPS, BMS), Industry (Oil & Gas, Chemicals, Power Generation), and Region - Global Forecast to 2024

  • ID: 4863438
  • Report
  • November 2019
  • Region: Global
  • 198 Pages
  • Markets and Markets
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Functional Safety Market to Exhibit Significant Growth During 2019–2024

FEATURED COMPANIES

  • ABB
  • Emerson Electric
  • GE
  • Intertek
  • Omron
  • Schlumberger
  • MORE

Functional safety market to exhibit significant growth during 2019–2024

The functional safety market is estimated to grow from USD 4.6 billion in 2019 to USD 7.1 billion by 2024, at a CAGR of 8.8%. The key factors driving the market’s growth include strict mandates for safety regulations, surging demand for safety systems in the oil & gas industry, high requirement for reliable safety systems to ensure personnel and asset protection, and rise in industrial revolution 4.0. However, high investment required for installing functional safety systems and lack of awareness and complexity of standards will likely restrain the growth.

Market for fire & gas monitoring systems to grow at highest CAGR during forecast period

The fire and gas monitoring system market is estimated to grow at the highest CAGR from 2019 to 2024. Fire and gas safety systems continuously monitor fire or combustible/toxic gas leakages and provide early warning to prevent escalations. 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, thereby contributing to the high growth of the market for fire & gas systems.

Oil & gas industry to hold major share of functional safety market during forecast period

The oil & gas industry is expected to hold the majority market share from 2019 to 2024. The oil & gas industry faces different types of risks and hazards, thereby giving rise to serious accidents that might have an adverse impact on people, assets, and environment.  In avoiding such incidents, functional safety becomes a matter of utmost importance. Various safety instrumented systems are used in the oil & gas industry. For instance, ESDs are used to minimize the consequences of emergencies by shutting down systems and equipment and isolating hydrocarbon inventories, electrical equipment, and emergency ventilation control. Further, HIPPS are used to safeguard pipelines, vessels, and process packages against overpressure.   

Europe to be largest market for functional safety systems during forecast period

Europe is expected to lead the global functional safety market, in terms of size, from 2019 to 2024. The functional safety and functional safety requirements are stringent in Europe; these regulatory standards and safety directives in the region are driving the growth of the market for functional safety in Europe. A few key market players, such as ABB (Switzerland), Omron (Japan), and Siemens (Germany), offer safety solutions and services to manufacturing companies in Europe.

Break-up of primary participants’ profile:

  • By Company Type – Tier 1 = 52%, Tier 2 = 31%, and Tier 3 = 17%
  • By Designation – C-level = 47%, Director-level = 31%, and Manager-level = 22%
  • By Region – North America = 44%, Europe =25%, APAC = 21%,  South America = 5%, and MEA = 5%

The key players in the market include Emerson (US), Honeywell (US), Rockwell (US), ABB (Switzerland), Schneider (France), Yokogawa (Japan), General Electric (US), Hima Paul (US), Omron (Japan), Siemens (Germany), and Others.

The global functional safety market is segmented into offering, system, industry, and geography. The market, by system, is segmented into emergency shutdown system (ESD), fire & gas monitoring system, high integrity pressure protection system (HIPPS), burner management system (BMS), and turbomachinery control (TMC). Based on offering, the functional safety market has been split into component and service. The industries studied in the report include oil & gas, power generation, chemicals, food & beverages, pharmaceuticals, metal & mining, water & wastewater, and others. The functional safety market is segmented into 4 regions - North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to buy the report:

  • Illustrative segmentation, analysis, and forecast for markets based on offering, system, industry, and geography have been conducted to give an overall view of the functional safety market.
  • A value chain analysis has been performed to provide an in-depth insight into the functional safety market.
  • 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 revenues of key players.
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • ABB
  • Emerson Electric
  • GE
  • Intertek
  • Omron
  • Schlumberger
  • MORE

1 Introduction
1.1 Study Objectives
1.2 Market Definition and Scope
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Major Secondary Sources
2.1.2.2 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Interviews With Experts
2.1.3.2 Key Data From Primary Sources
2.1.3.3 Key Industry Insights
2.1.3.4 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Arriving at Market Share By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Functional Safety Market
4.2 Market, By System
4.3 Market, By Component
4.4 Market, By Service
4.5 Market, By Offering
4.6 Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Strict Mandates for Safety Regulations
5.2.1.2 Surging Demand for Safety Systems in Oil & Gas Industry
5.2.1.3 High Requirement for Reliable Safety Systems to Ensure Personnel and Asset Protection
5.2.1.4 Rise in Industrial Revolution 4.0
5.2.2 Restraints
5.2.2.1 High Investment Required for Installing Functional Safety Systems
5.2.2.2 Lack of Awareness and Complexity of Standards
5.2.3 Opportunities
5.2.3.1 Growing Acceptance of Workplace Safety Standards in Emerging Economies
5.2.3.2 Increasing Usage of Industrial Internet of Things (Iiot) Creating Opportunities for the Market
5.2.4 Challenges
5.2.4.1 High Complexity of Safety Applications
5.2.4.2 Lack of Functional Safety Certified Workforce
5.3 Safety Integrity Level (SIL)
5.3.1 Functional Safety Standards
5.3.1.1 IEC 61508
5.3.1.2 IEC 61511
5.3.1.3 IEC 62061
5.3.1.4 IEC 62443
5.3.2 Adoption of Different Technologies in Functional Safety
5.4 Process Flow Analysis of Functional Safety

6 Functional Safety Market, By System
6.1 Introduction
6.2 Emergency Shutdown System (ESD)
6.2.1 Emergency Shutdown Systems Held Largest Size of Functional Safety Market in 2018
6.3 Fire & Gas Monitoring
6.3.1 Fire and Gas Monitoring System Mainly Used to Prevent and Lower After-Effects of Fire Accidents
6.4 High Integrity Pressure Protection System (HIPPS)
6.4.1 Rising Demand for Reliable Safety Solutions for Personnel and Asset Protection in High-Pressure Environments Triggers HIPPS Market Growth
6.5 Burner Management System (BMS)
6.5.1 BMS Helps in Reliable Monitoring, Operations, and Maintenance of All Assets in Plants
6.6 Turbomachinery Control (TMC)
6.6.1 TMC Provides Tight Control Over the Speed of Steam, Hydro, and Gas Turbines

7 Functional Safety Market, By Offering
7.1 Introduction
7.2 Component
7.2.1 Safety Sensor
7.2.1.1 Safety Sensors Hold Largest Share of Functional Safety Market
7.2.2 Programmable Safety System
7.2.2.1 Programmable Safety Systems to Grow at Highest Rate During Forecast Period
7.2.3 Safety Controller/Module/Relay
7.2.3.1 High Requirement of Safety Components in Functional Safety Systems
7.2.4 Safety Switch
7.2.4.1 Functional Safety Switches are Used to Protect Equipment and Users During Hazardous Situations
7.2.5 Emergency Stop Device
7.2.5.1 Emergency Stop Devices have Wide Range of Safety Applications in Industries
7.2.6 Final Control Element
7.2.6.1 Demand for Final Control Element in Oil & Gas and Power Generation Industries to Continue to Rise in Future
7.2.7 Others
7.3 Service
7.3.1 Testing, Inspection, and Certification
7.3.1.1 Market for TIC Services to Grow at Highest CAGR From 2019 to 2024
7.3.2 Maintenance
7.3.2.1 Maintenance Services to Continue to Hold Largest Size of Functional Safety Market During 2019–2024
7.3.3 Training and Consulting
7.3.3.1 Training and Consulting Services are Gaining Pace With Rising Adoption of HIPPS in Process Plants

8 Functional Safety Market, By Industry
8.1 Introduction
8.2 Oil & Gas
8.2.1 Oil & Gas Industry to Account for Largest Market Share
8.3 Food & Beverages
8.3.1 Food & Beverages Industry Employ Functional Safety Owing to Regulatory Issues
8.4 Pharmaceuticals
8.4.1 Pharmaceutical Companies Implement Functional Safety to Prevent Potential Hazards
8.5 Chemicals
8.5.1 Demand for Safety and Reliability in Chemicals Industry Propels Growth for Functional Safety Market
8.6 Power Generation
8.6.1 Power Generation Industry Uses Functional Safety for Protecting Plants From Hazard
8.7 Metals & Mining
8.7.1 Functional Safety System Helps Ensure Efficient and Safe Production in Metals & Mining Industry
8.8 Water & Wastewater
8.8.1 Functional Safety Helps in Improving Operational Efficiency and Saving Operational Costs of Water & Wastewater Treatment Plants
8.9 Others

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US to Hold Largest Size of Market in North America During Forecast Period
9.2.2 Canada
9.2.2.1 Strict Government Regulations Drive Market in Canada
9.2.3 Mexico
9.2.3.1 Abundance of Oil & Gas Reserves in Mexico to Offer Opportunities for Functional Safety Manufacturers
9.3 Europe
9.3.1 UK
9.3.1.1 Mandate for Safety Regulations Propels Demand for Functional Safety System and Services in Uk
9.3.2 Germany
9.3.2.1 Germany to Hold Largest Size of Market in Europe During Forecast Period
9.3.3 France
9.3.3.1 Stringent Safety Requirements are Driving Market in France
9.3.4 Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 Oil & Gas and Chemicals are Major End-User Industries for Functional Safety in China
9.4.2 Japan
9.4.2.1 Fast-Growing Process Industries in Japan are Adhering to Safety Standards
9.4.3 India
9.4.3.1 Market in India to Grow at Highest CAGR During Forecast Period
9.4.4 South Korea
9.4.4.1 Stringent Law to Prevent Industrial Accidents Drives Market in South Korea
9.4.5 Rest of APAC
9.5 RoW
9.5.1 South America
9.5.1.1 South America to Be Booming Market for Functional Safety
9.5.2 Middle East & Africa
9.5.2.1 Middle East Held Larger Size of Market for Oil & Gas Industry in 2018

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis: Functional Safety Market
10.3 Competitive Leadership Mapping
10.3.1 Visionaries
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Strength of Product Portfolio
10.5 Business Strategy Excellence
10.6 Competitive Situation & Trends
10.6.1 Contracts, Agreements, and Partnerships
10.6.2 Product Launches & Developments
10.6.3 Acquisitions

11 Company Profiles
11.1 Key Players
11.1.1 Schneider Electric
11.1.2 Honeywell
11.1.3 ABB
11.1.4 Rockwell
11.1.5 Hima Paul
11.1.6 Yokogawa
11.1.7 Emerson Electric
11.1.8 GE
11.1.9 Omron
11.1.10 Siemens Ag
11.2 Right to Win
11.3 Other Key Players
11.3.1 Johnson Controls
11.3.2 Balluff GmbH
11.3.3 Mogas Industries
11.3.4 Pietro Fiorentini (Arvan SRL)
11.3.5 Frames Group
11.3.6 Schlumberger
11.3.7 Intertek
11.3.8 Dekra SE
11.3.9 TUV SUD
11.3.10 TUV Rheinland
11.3.11 SGS Group
11.3.12 Exida
11.3.13 Velan Inc
11.3.14 Paladon Systems Ltd.
11.3.15 Proserv Ingenious Simplicity

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide - Functional Safety Market
12.3 Knowledge Store
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details

List of Tables (156 Tables)

Table 1 Functional Safety Market, By System, 2017–2024 (USD Million)
Table 2 Functional Safety Market for Emergency Shutdown Systems, By Offering, 2017–2024 (USD Million)
Table 3 Market for Emergency Shutdown Systems, By Component, 2017–2024 (USD Million)
Table 4 Market for Emergency Shutdown Systems, By Service, 2017–2024 (USD Million)
Table 5 Market for Emergency Shutdown Systems, By Industry, 2017–2024 (USD Million)
Table 6 Market for Emergency Shutdown Systems, By Region, 2017–2024 (USD Million)
Table 7 Emergency Shutdown System Market for Oil & Gas, By Region, 2017–2024 (USD Million)
Table 8 Emergency Shutdown System Market for Power Generation, By Region, 2017–2024 (USD Million)
Table 9 Emergency Shutdown System Market for Chemicals, By Region, 2017–2024 (USD Million)
Table 10 Emergency Shutdown System Market for Food & Beverages, By Region, 2017–2024 (USD Million)
Table 11 Emergency Shutdown System Market for Water & Wastewater, By Region, 2017–2024 (USD Million)
Table 12 Emergency Shutdown System Market for Pharmaceuticals, By Region, 2017–2024 (USD Million)
Table 13 Emergency Shutdown System Market for Metals and Mining, By Region, 2017–2024 (USD Million)
Table 14 Emergency Shutdown System Market for Others, By Region, 2017–2024 (USD Million)
Table 15 Fire & Gas Monitoring Market, By Offering, 2017–2024 (USD Million)
Table 16 Fire & Gas Monitoring Market, By Component, 2017–2024 (USD Million)
Table 17 Fire & Gas Monitoring Market, By Service, 2017–2024 (USD Million)
Table 18 Fire & Gas Monitoring Market, By Industry, 2017–2024 (USD Million)
Table 19 Fire & Gas Monitoring Market for Oil & Gas, By Region, 2017–2024 (USD Million)
Table 20 Fire & Gas Monitoring Market for Oil & Gas, By Region, 2017–2024 (USD Million)
Table 21 Fire & Gas Monitoring Market for Power Generation, By Region, 2017–2024 (USD Million)
Table 22 Fire & Gas Monitoring Market for Chemicals, By Region, 2017–2024 (USD Million)
Table 23 Fire & Gas Monitoring Market for Food & Beverages, By Region, 2017–2024 (USD Million)
Table 24 Fire & Gas Monitoring Market for Water & Wastewater, By Region, 2017–2024 (USD Million)
Table 25 Fire & Gas Monitoring Market for Pharmaceuticals, By Region, 2017–2024 (USD Million)
Table 26 Fire & Gas Monitoring Market for Metals & Mining, By Region, 2017–2024 (USD Million)
Table 27 Fire & Gas Monitoring Market for Others, By Region, 2017–2024 (USD Million)
Table 28 High Integrity Pressure Protection System Market, By Offering, 2017–2024 (USD Million)
Table 29 High Integrity Pressure Protection System Market, By Component, 2017–2024 (USD Million)
Table 30 High Integrity Pressure Protection System Market, By Service, 2017–2024 (USD Million)
Table 31 High Integrity Pressure Protection System Market, By Industry, 2017–2024 (USD Million)
Table 32 High Integrity Pressure Protection System Market, By Region, 2017–2024 (USD Million)
Table 33 High Integrity Pressure Protection System Market for Oil & Gas, By Region, 2017–2024 (USD Million)
Table 34 High Integrity Pressure Protection System Market for Power Generation, By Region, 2017–2024 (USD Million)
Table 35 High Integrity Pressure Protection System Market for Chemicals, By Region, 2017–2024 (USD Million)
Table 36 High Integrity Pressure Protection System Market for Food & Beverages, By Region, 2017–2024 (USD Million)
Table 37 High Integrity Pressure Protection System Market for Water & Wastewater, By Region, 2017–2024 (USD Million)
Table 38 High Integrity Pressure Protection System Market for Pharmaceuticals, By Region, 2017–2024 (USD Million)
Table 39 High Integrity Pressure Protection System Market for Metals & Mining, By Region, 2017–2024 (USD Million)
Table 40 High Integrity Pressure Protection System Market for Others, By Region, 2017–2024 (USD Million)
Table 41 Burner Management System Market, By Offering, 2017–2024 (USD Million)
Table 42 Burner Management System Market, By Component, 2017–2024 (USD Million)
Table 43 Burner Management System Market, By Service, 2017–2024 (USD Million)
Table 44 Burner Management System Market, By Industry, 2017–2024 (USD Million)
Table 45 Burner Management System Market, By Region, 2017–2024 (USD Million)
Table 46 Burner Management System Market for Oil & Gas, By Region, 2017–2024 (USD Million)
Table 47 Burner Management System Market for Power Generation, By Region, 2017–2024 (USD Million)
Table 48 Burner Management System Market for Chemicals, By Region, 2017–2024 (USD Million)
Table 49 Burner Management System Market for Food & Beverages, By Region, 2017–2024 (USD Million)
Table 50 Burner Management System Market for Water & Wastewater, By Region, 2017–2024 (USD Million)
Table 51 Burner Management System Market for Pharmaceuticals, By Region, 2017–2024 (USD Million)
Table 52 Burner Management System Market for Metals & Mining, By Region, 2017–2024 (USD Million)
Table 53 Burner Management System Market for Others, By Region, 2017–2024 (USD Million)
Table 54 Turbomachinery Control Market, By Offering, 2017–2024 (USD Million)
Table 55 Turbomachinery Control Market, By Component, 2017–2024 (USD Million)
Table 56 Turbomachinery Control Market, By Service, 2017–2024 (USD Million)
Table 57 Turbomachinery Control Market, By Industry, 2017–2024 (USD Million)
Table 58 Turbomachinery Control Market, By Region, 2017–2024 (USD Million)
Table 59 Turbomachinery Control Market for Oil & Gas, By Region, 2017–2024 (USD Million)
Table 60 Turbomachinery Control Market for Power Generation, By Region, 2017–2024 (USD Million)
Table 61 Turbomachinery Control Market for Chemicals, By Region, 2017–2024 (USD Million)
Table 62 Turbomachinery Control Market for Food & Beverages, By Region, 2017–2024 (USD Million)
Table 63 Turbomachinery Control Market for Water & Wastewater, By Region, 2017–2024 (USD Million)
Table 64 Turbomachinery Control Market for Pharmaceuticals, By Region, 2017–2024 (USD Million)
Table 65 Turbomachinery Control Market for Metals & Mining, By Region, 2017–2024 (USD Million)
Table 66 Turbomachinery Control Market for Others, By Region, 2017–2024 (USD Million)
Table 67 Market, By Offering, 2017–2024 (USD Million)
Table 68 Market, By Component, 2017–2024 (USD Million)
Table 69 Market for Safety Sensors, By System, 2017–2024 (USD Million)
Table 70 Market for Safety Sensors, By Region, 2017–2024 (USD Million)
Table 71 Market for Safety Sensors, By Industry, 2017–2024 (USD Million)
Table 72 Market for Programmable Safety Systems, By System, 2017–2024 (USD Million)
Table 73 Market for Programmable Safety Systems, By Region, 2017–2024 (USD Million)
Table 74 Market for Programmable Safety Systems, By Industry, 2017–2024 (USD Million)
Table 75 Market for Safety Controllers/Modules/Relays, By Industry, 2017–2024 (USD Million)
Table 76 Market for Safety Controllers/Modules/Relays, By Region, 2017–2024 (USD Million)
Table 77 Market for Safety Controllers/Modules/Relays, By System, 2017–2024 (USD Million)
Table 78 Market for Safety Switches, By Industry, 2017–2024 (USD Million)
Table 79 Market for Safety Switches, By Region, 2017–2024 (USD Million)
Table 80 Market for Safety Switches, By System, 2017–2024 (USD Million)
Table 81 Three Common Types of Emergency Stop Devices
Table 82 Market for Emergency Stop Devices, By Industry, 2017–2024 (USD Million)
Table 83 Market for Emergency Stop Devices, By Region, 2017–2024 (USD Million)
Table 84 Market for Emergency Stop Devices, By System, 2017–2024 (USD Million)
Table 85 Market for Final Control Elements, By Industry, 2017–2024 (USD Million)
Table 86 Market for Final Control Elements, By Region, 2017–2024 (USD Million)
Table 87 Market for Final Control Elements, By System, 2017–2024 (USD Million)
Table 88 Market for Others, By Industry, 2017–2024 (USD Million)
Table 89 Market for Others, By Region, 2017–2024 (USD Million)
Table 90 Market for Others, By System, 2017–2024 (USD Million)
Table 91 Market, By Service, 2017–2024 (USD Million)
Table 92 Market for Services, By Region, 2017–2024 (USD Million)
Table 93 Market for Services, By Industry, 2017–2024 (USD Million)
Table 94 Market for Testing, Inspection, and Certification Services, By Region, 2017–2024 (USD Million)
Table 95 Market for Testing, Inspection, and Certification Services, By System, 2017–2024 (USD Million)
Table 96 Market for Maintenance Services, By Region, 2017–2024 (USD Million)
Table 97 Market for Maintenance Services, By System, 2017–2024 (USD Million)
Table 98 Market for Training and Consulting Services, By Region, 2017–2024 (USD Million)
Table 99 Market for Training and Consulting Services, By System, 2017–2024 (USD Million)
Table 100 Market, By Industry, 2017–2024 (USD Million)
Table 101 Market for Oil & Gas Industry, By Offering, 2017–2024 (USD Million)
Table 102 Market for Oil & Gas Industry, By System, 2017–2024 (USD Million)
Table 103 Market for Oil & Gas Industry, By Component, 2017–2024 (USD Million)
Table 104 Market for Oil & Gas Industry, By Service, 2017–2024 (USD Million)
Table 105 Market for Food & Beverages Industry, By Offering, 2017–2024 (USD Million)
Table 106 Market for Food & Beverages Industry, By System, 2017–2024 (USD Million)
Table 107 Market for Food & Beverages Industry, By Component, 2017–2024 (USD Million)
Table 108 Market for Food & Beverages Industry, By Service, 2017–2024 (USD Million)
Table 109 Market for Pharmaceuticals Industry, By Offering, 2017–2024 (USD Million)
Table 110 Market for Pharmaceuticals Industry, By System, 2017–2024 (USD Million)
Table 111 Market for Pharmaceuticals Industry, By Component, 2017–2024 (USD Million)
Table 112 Market for Pharmaceuticals Industry, By Service, 2017–2024 (USD Million)
Table 113 Market for Chemicals Industry, By Offering, 2017–2024 (USD Million)
Table 114 Market for Chemicals Industry, By System, 2017–2024 (USD Million)
Table 115 Market for Chemicals Industry, By Component, 2017–2024 (USD Million)
Table 116 Market for Chemicals Industry, By Service, 2017–2024 (USD Million)
Table 117 Market for Power Generation Industry, By Offering, 2017–2024 (USD Million)
Table 118 Market for Power Generation Industry, By System, 2017–2024 (USD Million)
Table 119 Market for Power Generation Industry, By Component, 2017–2024 (USD Million)
Table 120 Market for Power Generation Industry, By Service, 2017–2024 (USD Million)
Table 121 Market for Metal & Mining Industry, By Offering, 2017–2024 (USD Million)
Table 122 Market for Metal & Mining Industry, By System, 2017–2024 (USD Million)
Table 123 Market for Metal & Mining Industry, By Component, 2017–2024 (USD Million)
Table 124 Market for Metal & Mining Industry, By Service, 2017–2024 (USD Million)
Table 125 Market for Water & Wastewater Industry, By Offering, 2017–2024 (USD Million)
Table 126 Market for Water & Wastewater Industry, By System, 2017–2024 (USD Million)
Table 127 Market for Water & Wastewater Industry, By Component, 2017–2024 (USD Million)
Table 128 Market for Water & Wastewater Industry, By Service, 2017–2024 (USD Million)
Table 129 Market for Other Industries, By Offering, 2017–2024 (USD Million)
Table 130 Market for Other Industries, By System, 2017–2024 (USD Million)
Table 131 Market for Other Industries, By Component, 2017–2024 (USD Million)
Table 132 Market for Other Industries, By Service, 2017–2024 (USD Million)
Table 133 Market, By Region, 2017–2024 (USD Million)
Table 134 Market in North America, By Country, 2017–2024 (USD Million)
Table 135 Market in North America, By System, 2017–2024 (USD Million)
Table 136 Market in North America, By Offering, 2017–2024 (USD Million)
Table 137 Market in North America, By Service, 2017–2024 (USD Million)
Table 138 Market in North America, By Component, 2017–2024 (USD Million)
Table 139 Market in Europe, By Country, 2017–2024 (USD Million)
Table 140 Market in Europe, By System, 2017–2024 (USD Million)
Table 141 Market in Europe, By Offering, 2017–2024 (USD Million)
Table 142 Market in Europe, By Service, 2017–2024 (USD Million)
Table 143 Market in Europe, By Component, 2017–2024 (USD Million)
Table 144 Market in APAC, By Country, 2017–2024 (USD Million)
Table 145 Market in APAC, By System, 2017–2024 (USD Million)
Table 146 Market in APAC, By Offering, 2017–2024 (USD Million)
Table 147 Market in APAC, By Service, 2017–2024 (USD Million)
Table 148 Market in APAC, By Component, 2017–2024 (USD Million)
Table 149 Market in RoW, By Region, 2017–2024 (USD Million)
Table 150 Market in RoW, By System, 2017–2024 (USD Million)
Table 151 Market in RoW, By Offering, 2017–2024 (USD Million)
Table 152 Market in RoW, By Service, 2017–2024 (USD Million)
Table 153 Market in RoW, By Component, 2017–2024 (USD Million)
Table 154 Contracts, Agreements and Partnerships, Joint Ventures, 2017–2019
Table 155 Product Launches and Developments, 2017–2019
Table 156 Acquisitions, 2017–2018

List of Figures (39 Figures)

Figure 1 Functional Safety Market: Research Design
Figure 2 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue of Products/Solutions/Services of Market Size
Figure 3 Market Size Estimation Methodology: Approach 2 Bottom-Up (Supply Side): Illustration of Company Functional Safety Revenue Estimation
Figure 4 Functional Safety Market: Bottom-Up Approach
Figure 5 Functional Safety Market: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Functional Safety Market for Services to Grow at Higher CAGR During Forecast Period
Figure 8 Market for Programmable Safety Systems to Grow at Highest CAGR During Forecast Period
Figure 9 Maintenance Services to Hold Largest Size of Market During Forecast Period
Figure 10 Oil & Gas Held Major Share of Market in 2018
Figure 11 Europe to Hold Largest Share of Market in 2019
Figure 12 Mandate for Safety Regulations and Rising Demand for Safety Systems in Oil & Gas Industry to Boost Adoption of Functional Safety
Figure 13 Emergency Shutdown System to Hold Largest Size of Market By 2024
Figure 14 Safety Sensor to Hold Largest Size of Market By 2024
Figure 15 Maintenance to Hold Largest Size of Market By 2024
Figure 16 Component to Hold Larger Share of Market in 2019
Figure 17 Europe to Hold Largest Size of Market During Forecast Period
Figure 18 Process Flow Analysis – Functional Safety Market
Figure 19 Emergency Shutdown System to Hold Largest Size of Market During Forecast Period
Figure 20 Functional Safety Market, By Offering
Figure 21 Safety Sensor to Hold Largest Size of Market, By Component, in 2019
Figure 22 Global Functional Safety Market, By Industry
Figure 23 China to Grow at Fastest Rate During Forecast Period
Figure 24 North America: Snapshot of Functional Safety Market
Figure 25 Europe: Snapshot of Functional Safety Market
Figure 26 APAC: Snapshot of Functional Safety Market
Figure 27 Middle East to Hold Larger Size of Market By 2024
Figure 28 Key Developments in Market (2017 to 2019)
Figure 29 Ranking of Key Players in Market, 2017
Figure 30 Functional Safety Market (Global) Competitive Leadership Mapping, 2018
Figure 31 Schneider: Company Snapshot
Figure 32 Honeywell: Company Snapshot
Figure 33 ABB: Company Snapshot
Figure 34 Rockwell: Company Snapshot
Figure 35 Yokogawa: Company Snapshot
Figure 36 Emerson: Company Snapshot
Figure 37 GE: Company Snapshot
Figure 38 Omron: Company Snapshot
Figure 39 Siemens: Company Snapshot

Note: Product cover images may vary from those shown
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  •  Schneider Electric
  •  Honeywell
  •  ABB
  •  Rockwell
  •  Hima Paul
  •  Yokogawa
  •  Emerson Electric
  •  GE
  •  Omron
  •  Siemens Ag
  •  Johnson Controls
  •  Balluff GmbH
  •  Mogas Industries
  •  Pietro Fiorentini (Arvan SRL)
  •  Frames Group
  •  Schlumberger
  •  Intertek
  •  Dekra SE
  •  TUV SUD
  •  TUV Rheinland
  •  SGS Group
  •  Exida
  •  Velan Inc
  •  Paladon Systems Ltd.
  •  Proserv Ingenious Simplicity
Note: Product cover images may vary from those shown
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