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Functional Safety Market - By System (Emergency Shutdown System (ESD), Fire & Gas Monitoring System, High Integrity Pressure Protection System (HIPPS), Burner Management System (BMS), Turbo machinery Control (TMC)) By Offering (Component, Service) By Industry (Oil & Gas, Power Generation, Chemicals, Food & Beverages, Water & Wastewater, Pharmaceuticals, Metal & Mining, Others) By Geographic Analysis (North America, Europe, Asia Pacific (APAC), Rest of the World (RoW), Middle East & Africa) - Industry Analysis, Opportunity and Forecast 2020 To 2027

Published Date: May 2021

No. of Pages: 196

Status: Published

Report Code: ARI100788

The functional safety market is expected to grow from USD 4.70 billion in 2020 to USD 5.87 billion by 2027, at a CAGR of 3.2 %. Functional safety is considered to be a part of overall safety, which is dependent on the entity or system operating normally and correctly in response to the inputs provided to it. We are surrounded by systems at a variety of places such as factories, public places, offices, and electrical devices at home, which are likely to pose a threat to our safety if they malfunction under certain conditions. Hence, they are provided with appropriate safety mechanisms which get activated under the condition of threat and thereby, prevent any loss and damage to humans or the environment in which they operate. The main aim of functional safety systems is to reduce the risk to a minimal possible value and thus, reduce the damage or loss arising out of the risk.

Failures in the system can occur due to various reasons, which include human error, random failures of hardware or software, operating environment such as extremely high temperature, electromagnetic interference, incorrect specification of the system, and negligence in taking precautions. A system can be claimed for its functional safety if is certified to one of the regularized functional safety standard such as IEC 61508, ISO 26262, IEC EN 62304 and ISO 12207, pertaining to the industries to which a system or a product belongs to. The safety standards ensure that the products are built, designed, implemented, operated under their prescribed operating conditions. Safety Integrity Level (SIL) is the measure of risk reduction with safety functions. Various electrical sensors, valves, actuators, and relays, are used to ensure the functional safety of the systems. The trend that can be seen is the use of programmable logic controllers and digital communication systems for the functional safety. Furthermore, a number of intelligent sensors, transmitters, and actuators are increasingly being integrated into products and systems to ensure their functional safety.

Mandatory safety standards and government policies pertaining to the safety of the personnel and the systems involved are be key factors driving the functional safety market. Increasing awareness and growing concern regarding the safety of individuals is another factor boosting the functional safety market. Increase in the number of manufacturing industries in emerging economies such as India and China is also propelling the functional safety market. However, the high cost of installation of functional safety systems is poised to be a major restraint for the market. Nevertheless, the increasing implementation of functional safety systems by various industries is said to positively impact the market.

As of 2019, Emerson (US), Yokogawa (Japan), General Electric (US), Omron (Japan), and Siemens (Germany) Schneider Electric (France), Honeywell (US), ABB Ltd (Switzerland), Rockwell Automation (US), HIMA Paul (Germany) were the major players in the functional safety market.

Analyst Commentary

The market for services is expected to grow at higher CAGR from 2020 to 2025. The services market pertaining to functional safety is gaining pace with an increasing adoption of safety instrumented systems (SIS) by manufacturing companies and growing demand for functional safety, especially in oil & gas and chemical industries. Maintenance services are expected to continue to hold the largest size of the functional safety market based on service offerings, followed by testing, inspection, and certification (TIC) services. Maintenance is a critical factor in the overall life cycle of functional safety. After the installation of functional safety, end users have to maintain the SIF and SIL level throughout the life cycle.

The food & beverages industry is expected to grow at the highest CAGR from 2020 to 2027. The food & beverages industry strives to achieve high quality and consistent production at a low price. This can be achieved by making food & beverages plants more safe, flexible, and profitable by choosing an integrated approach of automated safety control systems such as functional safety solutions. Moreover, in food processing plants, several dangerous machines are used for which plant managers should follow safety regulations to avoid penalty. Nowadays, manufacturers of food & beverages rely more on automated controls for production. To reduce the risks of accidents and perform safe efficient operations, safety instruments systems are implemented in these plants.

Segmentation

The functional safety market is segmented based on system, offering, industry, and region. On the basis of system the market is segmented into Emergency Shutdown System (ESD), Fire & Gas Monitoring System,), Burner Management System (BMS), Turbo machinery Control (TMC).On the basis of offering the market is segmented into Component, Service. On the basis of industry the market is segmented into Oil & Gas, Power Generation, Chemicals, Food & Beverages and Metal & Mining.

Regional Analysis

The regional analysis of Functional Safety Market is being studied for region such as Asia pacific, North Americas, Europe and Rest of the World. Technological advancements in ease of smart mobile usage to develop the mobile industries have driven the market of Functional Safety in North America. The study reveals that Europe region is also showing the positive sign towards mobile industry at a very rapid pace in the Functional Safety Market during the forecast period as MBaaS is updating various industries and security to the smart mobile and devices. Asia-Pacific countries like China, Japan and India have shown considerably fair share in the Functional Safety Market but will be growing fast in coming time.

The functional safety market in APAC is expected to grow at the highest CAGR during the forecast period. This growth would likely be driven by increasing industrialization in emerging economies such as China and India. The increased acceptance of international functional safety standards is driving the growth of the market in this region. Rapid industrialization, rising industrial emphasis, and organizational functional safety, as well as the influence of multinational companies in adopting safety systems, are also driving the growth of the market in APAC. In addition, the growing number of power projects to meet the rising demand for electricity has given momentum to the implementation of functional safety systems such as burner management and fire and gas systems at plant locations.
The adoption of safety automation solutions in manufacturing industries in this region is increasing significantly with rapid industrialization, thereby contributing to market growth.

TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data sources
2.3.1. Secondary Sources
2.3.1.1. Preliminary data mining
2.3.2. Primary Sources
2.3.2.1. Statistical Model
2.3.2.2. Data Triangulation
2.3.2.3. Research Objective
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. xx
3.3. Market drivers
3.3.1. Impact analysis of Market Drivers
3.4. Market restraints
3.4.1. Impact analysis of Market Restraints
3.5. Market opportunities
3.5.1. Impact analysis of Market Opportunities
3.6. Market Challenges
3.6.1. Impact analysis of Market Trends
3.7. Porter’s Five Forces’ analysis
3.7.1. Bargaining Power of Suppliers
3.7.2. Bargaining Power of Buyers
3.7.3. Threat of New Entrant
3.7.4. Threat of Substitutes
3.7.5. High Competitive Rivalry
3.8. Value chain analysis
Chapter 4. COVID-19 Impact On Functional Safety Market
Chapter 5. Global Functional Safety Market Overview, By System, 2015 – 2027 (USD Billion)
5.1. Global Functional Safety Market Share, By System, 2020 & 2027 (%)
5.1.1. Emergency Shutdown System (ESD)
5.1.1.1. Market Size and Projections,2015 – 2027 (USD Billion)
5.1.1.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
5.1.2. Fire & Gas Monitoring System
5.1.2.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.2.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
5.1.3. High Integrity Pressure Protection System (HIPPS)
5.1.3.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.3.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
5.1.4. Burner Management System (BMS)
5.1.4.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.4.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
5.1.5. Turbo machinery Control (TMC)
5.1.5.1. Market Size and Projections, 2015 - 2027 (USD Billion)
5.1.5.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
Chapter 6. Global Functional Safety Market Overview, By Offering, 2015 – 2027 (USD Billion)
6.1. Global Functional Safety Market Share, By Offering, 2020 & 2027 (%)
6.1.1. Component
6.1.1.1. Market Size and Projections,2015 – 2027 (USD Billion)
6.1.1.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
6.1.2. Service
6.1.2.1. Market Size and Projections, 2015 - 2027 (USD Billion)
6.1.2.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
Chapter 7. Global Functional Safety Market Overview, By Industry, 2015 – 2027 (USD Billion)
7.1. Global Functional Safety Market Share, By Industry, 2020 & 2027 (%)
7.1.1. Oil & Gas
7.1.1.1. Market Size and Projections,2015 – 2027 (USD Billion)
7.1.1.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.2. Power Generation
7.1.2.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.2.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.3. Chemical
7.1.3.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.3.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.4. Food & Beverage
7.1.4.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.4.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.5. Water & Wastewater
7.1.5.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.5.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.6. Pharmaceuticals
7.1.6.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.6.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.7. Metal & Mining
7.1.7.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.7.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
7.1.8. Others
7.1.8.1. Market Size and Projections, 2015 - 2027 (USD Billion)
7.1.8.2. Market Size and Projections, by Region, 2015 - 2027(USD Billion)
Chapter 8. Global Functional Safety Market Overview, By Geography, 2015 - 2027 (USD Billion)
8.1. Global Functional Safety Market Share, By Geography, 2015 - 2027(USD Billion)
8.1.1. Market Size and projections, by Countries, 2015 - 2027 (USD Billion)
8.1.2. Market Share and CAGR Comparison, by Countries, 2020 (%)
Chapter 9. North America Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
9.1. North America Functional Safety Market Overview, 2020 & 2027 (%)
9.1.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.2. North America Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
9.1.3. North America Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
9.1.4. North America Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
9.1.5. North America Functional Safety Market Overview, By Countries, 2015 - 2027 (USD Billion)
9.1.5.1. U.S. Functional Safety Market Overview, 2015 - 2027 (USD Billion)
9.1.5.1.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.5.1.2. U.S. Functional Safety Market Overview, By System, 2015 - 2027 (USD Billion)
9.1.5.1.3. U.S. Functional Safety Market Overview, By Offering, 2015 - 2027 (USD Billion)
9.1.5.1.4. U.S. Functional Safety Market Overview, By Industry, 2015 - 2027 (USD Billion)
9.1.5.2. Canada Functional Safety Market Overview, 2015 - 2027 (USD Billion)
9.1.5.2.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.5.2.2. Canada Functional Safety Market Overview, By System, 2015 - 2027 (USD Billion)
9.1.5.2.3. Canada Functional Safety Market Overview, By Offering, 2015 - 2027 (USD Billion)
9.1.5.2.4. Canada Functional Safety Market Overview, By Industry, 2015 - 2027 (USD Billion)
9.1.5.3. Mexico Functional Safety Market Overview, 2015 - 2027 (USD Billion)
9.1.5.3.1. Market size and projections, 2015 - 2027 (USD Billion)
9.1.5.3.2. Mexico Functional Safety Market Overview, By System, 2015 - 2027 (USD Billion)
9.1.5.3.3. Mexico Functional Safety Market Overview, By Offering, 2015 - 2027 (USD Billion)
9.1.5.3.4. Mexico Functional Safety Market Overview, By Industry, 2015 - 2027 (USD Billion)
Chapter 10. Europe Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
10.1. Europe Functional Safety Market Overview, 2020 & 2027 (%)
10.1.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.2. Europe Functional Safety Market Overview, By System, 2015 - 2027 (USD Billion)
10.1.3. Europe Functional Safety Market Overview, By Offering, 2015 - 2027 (USD Billion)
10.1.4. Europe Functional Safety Market Overview, By Industry, 2015 - 2027 (USD Billion)
10.1.5. Europe Functional Safety Market Overview, By Countries, 2015 - 2027 (USD Billion)
10.1.5.1. Germany
10.1.5.1.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.5.1.2. Germany Functional Safety Market Overview, By System, 2015 - 2027 (USD Billion)
10.1.5.1.3. Germany Functional Safety Market Overview, By Offering, 2015 - 2027 (USD Billion)
10.1.5.1.4. Germany Functional Safety Market Overview, By Industry, 2015 - 2027 (USD Billion)
10.1.5.1.5. Market size and projections, 2015 - 2027 (USD Billion)
10.1.5.1.6. France Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
10.1.5.1.7. France Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
10.1.5.1.8. France Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
10.1.5.2. UK
10.1.5.2.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.5.2.2. UK Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
10.1.5.2.3. UK Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
10.1.5.2.4. UK Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
10.1.5.3. Italy
10.1.5.3.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.5.3.2. Italy Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
10.1.5.3.3. Italy Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
10.1.5.3.4. Italy Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
10.1.5.4. Spain
10.1.5.4.1. Market size and projections, 2015 - 2027 (USD Billion)
10.1.5.4.2. Spain Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
10.1.5.4.3. Spain Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
10.1.5.4.4. Spain Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
10.1.5.5. Rest of Europe
10.1.5.5.1. Market size and projections, 2015 – 2025
10.1.5.5.2. Rest of Europe Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
10.1.5.5.3. Rest of Europe Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
10.1.5.5.4. Rest of Europe Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
Chapter 11. Asia Pacific Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
11.1. Asia Pacific Functional Safety Market Overview, 2020 & 2027(%)
11.1.1. Market size and projections, 2015 - 2027(USD Billion)
11.1.2. Asia Pacific Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
11.1.3. Asia Pacific Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
11.1.4. Asia Pacific Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
11.1.5. Asia Pacific Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
11.1.5.1. India
11.1.5.1.1. Market size and projections, 2015 - 2027(USD Billion)
11.1.5.1.2. India Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
11.1.5.1.3. India Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
11.1.5.1.4. India Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
11.1.5.2. China
11.1.5.2.1. Market size and projections, 2015 - 2027(USD Billion)
11.1.5.2.2. China Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
11.1.5.2.3. China Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
11.1.5.2.4. China Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
11.1.5.3. Japan
11.1.5.3.1. Market size and projections, 2015 - 2027(USD Billion)
11.1.5.3.2. Japan Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
11.1.5.3.3. Japan Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
11.1.5.3.4. Japan Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
11.1.5.4. South Korea
11.1.5.4.1. Market size and projections, 2015 - 2027(USD Billion)
11.1.5.4.2. South Korea Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
11.1.5.4.3. South Korea Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
11.1.5.4.4. South Korea Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
11.1.5.5. Rest of Asia Pacific
11.1.5.5.1. Market size and projections, 2015 - 2027(USD Billion)
11.1.5.5.2. Rest of Asia Pacific Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
11.1.5.5.3. Rest of Asia Pacific Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
11.1.5.5.4. Rest of Asia Pacific Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
Chapter 12. Middle East & Africa Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
12.1. Middle East & Africa Functional Safety Market Overview, 2015 - 2027(USD Billion)
12.1.1. Market size and projections, 2015 - 2027(USD Billion)
12.1.2. Middle East & Africa Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
12.1.3. Middle East & Africa Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
12.1.4. Middle East & Africa Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
12.1.5. Middle East & Africa Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
12.1.5.1. GCC
12.1.5.1.1. Market size and projections, 2015 - 2027(USD Billion)
12.1.5.1.2. GCC Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
12.1.5.1.3. GCC Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
12.1.5.1.4. GCC Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
12.1.5.1.5. Market size and projections, 2015 - 2027(USD Billion)
12.1.5.1.6. South Africa Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
12.1.5.1.7. South Africa Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
12.1.5.1.8. South Africa Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
12.1.5.2. Rest of Middle East & Africa
12.1.5.2.1. Market size and projections, 2015 - 2027(USD Billion)
12.1.5.2.2. Rest of Middle East & Africa Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
12.1.5.2.3. Rest of Middle East & Africa Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
12.1.5.2.4. Rest of Middle East & Africa Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
Chapter 13. South America Functional Safety Market Overview, By Countries, 2015 - 2027(USD Billion)
13.1. South America Functional Safety Market Overview, 2015 - 2027(USD Billion)
13.1.1. Market size and projections, 2015 - 2027(USD Billion)
13.1.2. South America Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
13.1.3. South America Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
13.1.4. South America Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
13.1.5. South America Functional Safety Market Overview, By Countries, 2015- 2026(USD Billion)
13.1.6. Brazil
13.1.6.1. Market size and projections, 2015 - 2027(USD Billion)
13.1.6.2. Brazil Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
13.1.6.3. Brazil Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
13.1.6.4. Brazil Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
13.1.7. Argentina
13.1.7.1. Market size and projections, 2015 - 2027(USD Billion)
13.1.7.2. Argentina Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
13.1.7.3. Argentina Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
13.1.7.4. Argentina Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
13.1.8. Rest of South America
13.1.8.1. Market size and projections, 2015 – 2027
13.1.8.2. Rest of South America Functional Safety Market Overview, By System, 2015 - 2027(USD Billion)
13.1.8.3. Rest of South America Functional Safety Market Overview, By Offering, 2015 - 2027(USD Billion)
13.1.8.4. Rest of South America Functional Safety Market Overview, By Industry, 2015 - 2027(USD Billion)
Chapter 14. Competitive Landscape
14.1. Competitive environment, 2020
14.2. Strategic framework
14.2.1. Partnership/agreement
14.2.2. Expansion
14.2.3. Mergers & Acquisitions
14.2.4. New product development
Chapter 15. Key Vendor Analysis
15.1. Emerson
15.1.1. Company overview
15.1.2. Financial performance
15.1.3. Product Benchmarking
15.1.4. Recent initiatives
15.1.5. SWOT analysis
15.2. Yokogawa
15.2.1. Company overview
15.2.2. Financial performance
15.2.3. Product Benchmarking
15.2.4. Recent initiatives
15.2.5. SWOT analysis
15.3. General Electric
15.4. Omron
15.5. Siemens
15.6. Others
Chapter 16. Functional Safety Market Cost Analysis
16.1. Key Raw Materials Analysis
16.1.1. Key Raw Materials
16.1.2. Price Trend of Functional Safety Key Raw Materials
16.1.3. Key Suppliers of Raw Materials
16.1.4. Market Concentration Rate of Raw Materials
Chapter 17. Industrial Chain, Sourcing Strategy and Downstream Buyers
17.1. Industrial Chain Analysis
17.2. Upstream Raw Materials Sourcing
17.3. Raw Materials Sources of Functional Safety Major Manufacturers in 2020
17.4. Downstream Buyers
Chapter 18. Marketing Strategy Analysis, Distributors/Traders
18.1. Marketing Channel
18.1.1. Direct Marketing
18.1.2. Indirect Marketing
18.1.3. Marketing Channel Development Trend
18.2. Market Positioning
18.2.1. Pricing Strategy
18.2.2. Brand Strategy
18.2.3. Target Client
18.3. Distributors/Traders List
Chapter 19. Market Effect Factors Analysis
19.1. Technology Progress/Risk
19.1.1. Substitutes Threat
19.1.2. Technology Progress in Related Industry
19.2. Consumer Needs/Customer Preference Change
19.3. Economic/Political Environmental Change
Chapter 20. Future Outlook of the Market
Disclaimer
List of Figures
1. Market segmentation
2. Value chain analysis
3. Porter’s Five Forces’ analysis
4. Power of Suppliers
5. Power of Buyers
6. Threat of New Entrants
7. Threat of Substitute
8. Competitive Rivalry
9. Global Functional Safety Market share, By System, 2020 & 2027 (%)
10. Global Functional Safety Market, by Emergency Shutdown System (ESD), By System, 2015 - 2027(USD Billion)
11. Global Functional Safety Market, by Fire & Gas Monitoring System, By System, 2015 - 2027(USD Billion)
12. Global Functional Safety Market, by High Integrity Pressure Protection System (HIPPS), By System 2015 - 2027(USD Billion)
13. Global Functional Safety Market, by Burner Management System (BMS), By System 2015 - 2027(USD Billion)
14. Global Functional Safety Market, by Turbo machinery Control (TMC), By System 2015 - 2027(USD Billion)
15. Global Functional Safety Market share, By Offering, 2020 & 2027 (%)
16. Global Functional Safety Market, by Component, By Offering, 2015 - 2027(USD Billion)
17. Global Functional Safety Market, by Service, By Offering, 2015 - 2027(USD Billion)
18. Global Functional Safety Market share, By Industry, 2020 & 2027 (%)
19. Global Functional Safety Market, by Oil & Gas, By Industry 2015 - 2027(USD Billion)
20. Global Functional Safety Market, by Power Generations, By Industry 2015 - 2027(USD Billion)
21. Global Functional Safety Market, by Chemical, By Industry 2015 - 2027(USD Billion)
22. Global Functional Safety Market, by Food & Beverages, By Industry 2015 - 2027(USD Billion)
23. Global Functional Safety Market, by Water & Wastewater, By Industry 2015 - 2027(USD Billion)
24. Global Functional Safety Market, by Pharmaceuticals, By Industry 2015 - 2027(USD Billion)
25. Global Functional Safety Market, by Metal & Mining, By Industry 2015 - 2027(USD Billion)
26. Global Functional Safety Market, by Others, By Industry 2015 - 2027(USD Billion)
27. Global Functional Safety Market share, by region, 2020 & 2027 (%)
28. North America Functional Safety Market, 2020 - 2027(USD Billion)
29. North America Functional Safety Market share, by Countries, 2020 & 2027 (%)
30. U.S. Functional Safety Market, 2020 - 2027(USD Billion)
31. Canada Functional Safety Market, 2020 - 2027(USD Billion)
32. Europe Functional Safety Market, 2020 - 2027(USD Billion)
33. Europe Functional Safety Market share, by Countries, 2020 & 2027 (%)
34. Spain Functional Safety Market, 2020 - 2027(USD Billion)
35. UK Functional Safety Market, 2020 - 2027(USD Billion)
36. Italy Functional Safety Market, 2020 - 2027(USD Billion)
37. Germany Functional Safety Market, 2020 - 2027(USD Billion)
38. France Functional Safety Market, 2020 - 2027(USD Billion)
39. Rest of Europe Functional Safety Market, 2020 - 2027(USD Billion)
40. Asia-Pacific Functional Safety Market, 2020 - 2027(USD Billion)
41. Asia-Pacific Functional Safety Market share, by Countries, 2020 & 2027 (%)
42. China Functional Safety Market, 2020 - 2027(USD Billion)
43. India Functional Safety Market, 2020 - 2027(USD Billion)
44. Australia Functional Safety Market, 2020 - 2027(USD Billion)
45. Japan Functional Safety Market, 2020 - 2027(USD Billion)
46. Rest of Asia-Pacific Functional Safety Market, 2020 - 2027(USD Billion)
47. Middle East & Africa Functional Safety Market, 2020 - 2027(USD Billion)
48. Middle East & Africa Functional Safety Market share, by Countries, 2020 & 2027 (%)
49. GCC Functional Safety Market, 2020 - 2027(USD Billion)
50. South Africa Functional Safety Market, 2020 - 2027(USD Billion)
51. Rest Of Middle East & Africa Functional Safety Market, 2020 - 2027(USD Billion)
52. South America Functional Safety Market, 2020 - 2027(USD Billion)
53. Brazil Functional Safety Market, 2020 - 2027(USD Billion)
54. Mexico Functional Safety Market, 2020 - 2027(USD Billion)
55. Argentina Functional Safety Market, 2020 - 2027(USD Billion)
56. Rest of South America Functional Safety Market, 2020 - 2027(USD Billion)
List of Tables
1. Impact of Market drivers
2. Impact of Market restraints
3. Global Functional Safety Market, 2015-2027(USD Billion)
4. Global Functional Safety Market requirement, by country, 2015-2027,(USD Billion)
5. North America Functional Safety Market, By System, 2015-2027(USD Billion)
6. North America Functional Safety Market, By Offering, 2015-2027(USD Billion)
7. North America Functional Safety Market, By Industry, 2015-2027(USD Billion)
8. Europe Functional Safety Market, By System, 2015-2027(USD Billion)
9. Europe Functional Safety Market, By Offering, 2015-2027(USD Billion)
10. Europe Functional Safety Market, By Industry, 2015-2027(USD Billion)
11. Asia Pacific Functional Safety Market, By System, 2015-2027(USD Billion)
12. Asia Pacific Functional Safety Market, By Offering, 2015-2027(USD Billion)
13. Asia Pacific Functional Safety Market, By Industry, 2015-2027(USD Billion)
14. Middle East & Africa Functional Safety Market, By System, 2015-2027(USD Billion)
15. Middle East & Africa Functional Safety Market, By Offering, 2015-2027(USD Billion)
16. Middle East & Africa Functional Safety Market, By Industry, 2015-2027(USD Billion)
17. South America Functional Safety Market, By System, 2015-2027(USD Billion)
18. South America Functional Safety Market, By Offering, 2015-2027(USD Billion)
19. South America Functional Safety Market, By Industry, 2015-2027(USD Billion)
20. Global Functional Safety Market, Company Market Share, 2020 (%)
21. EMERSON: Product Benchmarking
22. EMERSON: Financial Performance
23. YOKOGAWA: Product Benchmarking
24. YOKOGAWA: Financial Performance
25. General Electric: Product Benchmarking
26. General Electric: Financial Performance
27. Omron: Product Benchmarking
28. Omron: Financial Performance
29. Siemens: Product Benchmarking
30. Siemens: Financial Performance

The Leading Key Players in Functional Safety Market

Emerson (US)
Yokogawa (Japan)
General Electric (US)
Omron (Japan)
Siemens (Germany) Schneider Electric (France)
Honeywell (US)
ABB Ltd (Switzerland)
Rockwell Automation (US)
HIMA Paul (Germany)

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