1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
2.4 LIST OF ASSUMPTIONS
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 INCREASE IN THE NUMBER OF MOBILE APPLICATIONS
4.2.2 INTRODUCTION OF GOVERNMENT POLICIES AND SAFETY STANDARDS
4.2.3 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINT
4.3.1 SIGNIFICANT INVESTMENT REQUIRED FOR INSTALING FUNCTIONAL SAFETY SYSTEMS
4.3.2 RESTRAINT IMPACT ANALYSIS
4.4 OPPORTUNITY
4.4.1 INCREASING USE OF IIOT
4.5 CHALLENGE
4.5.1 LACK OF SKILLED EXPERTISE IN IMPLEMENTING FUNCTIONAL SAFETY
4.6 IMPACT OF COVID-19 ON THE GLOBAL FUNCTIONAL SAFETY MARKET
4.6.1 IMPACT ON MANUFACTURERS
4.6.2 IMPACT ON SUPPLY CHAIN
5 MARKET FACTOR ANALYSIS
5.1 VALUE CHAIN ANALYSIS
5.1.1 DESIGNERS AND PROGRAMMERS
5.1.2 SOFTWARE DEVELOPERS
5.1.3 SYSTEM INTEGRATORS
5.1.4 SERVICE PROVIDERS
5.1.5 END USERS
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 INTENSITY OF RIVALRY
6 GLOBAL FUNCTIONAL SAFETY MARKET, BY DEVICES
6.1 OVERVIEW
6.2 ACTUATORS
6.3 SAFETY SENSORS
6.4 FINAL CONTROL ELEMENTS
6.5 SAFETY CONTROLLERS/MODULES/RELAYS
6.6 PROGRAMMABLE SAFETY SYSTEMS
6.7 EMERGENCY STOP DEVICES
6.8 SAFETY SWITCHES
6.9 VALVES
7 GLOBAL FUNCTIONAL SAFETY MARKET, BY SYSTEM
7.1 OVERVIEW
7.2 SAFETY INSTRUMENTED SYSTEMS (SIS)
7.3 TURBO MACHINERY CONTROL (TMC)
7.4 SUPERVISORY CONTROL SYSTEM
7.5 BURNER MANAGEMENT SYSTEMS (BMS)
7.6 EMERGENCY SHUTDOWN SYSTEMS (ESD)
7.7 FIRE & GAS MONITORING CONTROL
7.8 INDUSTRIAL CONTROL SYSTEMS
7.9 HIGH-INTEGRITY PRESSURE PROTECTION SYSTEMS (HIPPS)
7.10 DISTRIBUTED CONTROL SYSTEMS (DCS)
8 GLOBAL FUNCTIONAL SAFETY MARKET, BY END USER
8.1 OVERVIEW
8.2 OIL & GAS
8.3 METAL & MINING
8.4 RETAIL AND WHOLESALE
8.5 MANUFACTURING
8.6 FOOD & BEVERAGES
8.7 WATER & WASTEWATER
8.8 OTHERS
9 GLOBAL FUNCTIONAL SAFETY MARKET, BY REGION
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 US
9.2.2 CANADA
9.2.3 MEXICO
9.3 EUROPE
9.3.1 UK
9.3.2 GERMANY
9.3.3 FRANCE
9.3.4 REST OF EUROPE
9.4 ASIA-PACIFIC
9.4.1 CHINA
9.4.2 JAPAN
9.4.3 INDIA
9.4.4 REST OF ASIA-PACIFIC
9.5 REST OF THE WORLD
9.5.1 MIDDLE EAST & AFRICA
9.5.2 SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
10.1 COMPETITIVE OVERVIEW
10.2 COMPETITIVE BENCHMARKING
11 COMPANY PROFILES
11.1 HONEYWELL INTERNATIONAL INC.
11.1.1 COMPANY OVERVIEW
11.1.2 FINANCIAL OVERVIEW
11.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.1.4 KEY DEVELOPMENTS
11.1.5 SWOT ANALYSIS
11.1.6 KEY STRATEGIES
11.2 ABB LTD.
11.2.1 COMPANY OVERVIEW
11.2.2 FINANCIAL OVERVIEW
11.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.2.4 KEY DEVELOPMENTS
11.2.5 SWOT ANALYSIS
11.2.6 KEY STRATEGIES
11.3 SCHNEIDER ELECTRIC SE
11.3.1 COMPANY OVERVIEW
11.3.2 FINANCIAL OVERVIEW
11.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.3.4 KEY DEVELOPMENTS
11.3.5 SWOT ANALYSIS
11.3.6 KEY STRATEGIES
11.4 EMERSON ELECTRIC CO.
11.4.1 COMPANY OVERVIEW
11.4.2 FINANCIAL OVERVIEW
11.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.4.4 KEY DEVELOPMENTS
11.4.5 SWOT ANALYSIS
11.4.6 KEY STRATEGIES
11.5 GENERAL ELECTRIC CO.
11.5.1 COMPANY OVERVIEW
11.5.2 FINANCIAL OVERVIEW
11.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.5.4 KEY DEVELOPMENTS
11.5.5 SWOT ANALYSIS
11.5.6 KEY STRATEGIES
11.6 ENDRESS+HAUSER
11.6.1 COMPANY OVERVIEW
11.6.2 FINANCIAL OVERVIEW
11.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.6.4 KEY DEVELOPMENTS
11.6.5 SWOT ANALYSIS
11.6.6 KEY STRATEGIES
11.7 SIEMENS AG
11.7.1 COMPANY OVERVIEW
11.7.2 FINANCIAL OVERVIEW
11.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.7.4 KEY DEVELOPMENTS
11.7.5 SWOT ANALYSIS
11.7.6 KEY STRATEGIES
11.8 OMRON CORPORATION
11.8.1 COMPANY OVERVIEW
11.8.2 FINANCIAL OVERVIEW
11.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.8.4 KEY DEVELOPMENTS
11.8.5 SWOT ANALYSIS
11.8.6 KEY STRATEGIES
11.9 ROCKWELL AUTOMATION INC.
11.9.1 COMPANY OVERVIEW
11.9.2 FINANCIAL OVERVIEW
11.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.9.4 KEY DEVELOPMENTS
11.9.5 SWOT ANALYSIS
11.9.6 KEY STRATEGIES
11.10 YOKOGAWA ELECTRIC CORPORATION
11.10.1COMPANY OVERVIEW
11.10.2FINANCIAL OVERVIEW
11.10.3PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.10.4KEY DEVELOPMENTS
11.10.5SWOT ANALYSIS
11.10.6KEY STRATEGIES
12 LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 3 GLOBAL FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 4 GLOBAL FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 5 GLOBAL FUNCTIONAL SAFETY MARKET, BY REGION, 2024–2032 (USD MILLION)
TABLE 6 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024–2032 (USD MILLION)
TABLE 7 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 8 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 9 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 10 US: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 11 US: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 12 US: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 13 CANADA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 14 CANADA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 15 CANADA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 16 MEXICO: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 17 MEXICO: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 18 MEXICO: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 19 EUROPE: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024–2032 (USD MILLION)
TABLE 20 EUROPE: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 21 EUROPE: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 22 EUROPE: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 23 UK: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 24 UK: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 25 UK: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 26 GERMANY: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 27 GERMANY: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 28 GERMANY: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 29 FRANCE: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 30 FRANCE: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 31 FRANCE: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 32 REST OF EUROPE: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 33 REST OF EUROPE: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 34 REST OF EUROPE: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 35 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024–2032 (USD MILLION)
TABLE 36 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 37 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 38 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 39 CHINA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 40 CHINA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 41 CHINA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 42 JAPAN: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 43 JAPAN: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 44 JAPAN: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 45 INDIA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 46 INDIA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 47 INDIA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 48 REST OF ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 49 REST OF ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 50 REST OF ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 51 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024–2032 (USD MILLION)
TABLE 52 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 53 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 54 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 55 MIDDLE EAST & AFRICA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 56 MIDDLE EAST & AFRICA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 57 MIDDLE EAST & AFRICA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 58 SOUTH AMERICA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024–2032 (USD MILLION)
TABLE 59 SOUTH AMERICA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024–2032 (USD MILLION)
TABLE 60 SOUTH AMERICA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024–2032 (USD MILLION)
TABLE 61 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 62 ABB LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 63 ABB LTD.: KEY DEVELOPMENTS
TABLE 64 SCHNEIDER ELECTRIC SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 65 EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 66 GENERAL ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 67 ENDRESS+HAUSER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 68 SIEMENS AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 69 OMRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 70 OMRON CORPORATION: KEY DEVELOPMENTS
TABLE 71 ROCKWELL AUTOMATION INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 72 ROCKWELL AUTOMATION INC.: KEY DEVELOPMENTS
TABLE 73 YOKOGAWA ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 74 YOKOGAWA ELECTRIC CORPORATION: KEY DEVELOPMENTS
13 LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 FUNCTIONAL SAFETY MARKET STRUCTURE
FIGURE 3 BOTTOM-UP AND TOP-DOWN APPROACHES
FIGURE 4 MARKET DYNAMICS ANALYSIS OF THE GLOBAL FUNCTIONAL SAFETY MARKET
FIGURE 5 NUMBER OF MOBILE APP DOWNLOADS WORLDWIDE, 2024–2032 (IN BILLIONS)
FIGURE 6 DRIVERS IMPACT ANALYSIS: GLOBAL FUNCTIONAL SAFETY MARKET
FIGURE 7 RESTRAINT IMPACT ANALYSIS: GLOBAL FUNCTIONAL SAFETY MARKET
FIGURE 8 VALUE CHAIN: GLOBAL FUNCTIONAL SAFETY MARKET
FIGURE 9 PORTER’S FIVE FORCES MODEL: GLOBAL FUNCTIONAL SAFETY MARKET
FIGURE 10 GLOBAL FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024 VS 2032 (USD MILLION)
FIGURE 11 GLOBAL FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024 VS 2032 (USD MILLION)
FIGURE 12 GLOBAL FUNCTIONAL SAFETY MARKET, BY END USER, 2024 VS 2032 (USD MILLION)
FIGURE 13 GLOBAL FUNCTIONAL SAFETY MARKET, BY REGION, 2024 VS 2032 (USD MILLION)
FIGURE 14 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024 VS 2032 (USD MILLION)
FIGURE 15 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024 VS 2032 (USD MILLION)
FIGURE 16 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024 VS 2032 (USD MILLION)
FIGURE 17 NORTH AMERICA: FUNCTIONAL SAFETY MARKET, BY END USER, 2024 VS 2032 (USD MILLION)
FIGURE 18 EUROPE: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024 VS 2032 (USD MILLION)
FIGURE 19 EUROPE: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024 VS 2032 (USD MILLION)
FIGURE 20 EUROPE: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024 VS 2032 (USD MILLION)
FIGURE 21 EUROPE: FUNCTIONAL SAFETY MARKET, BY END USER, 2024 VS 2032 (USD MILLION)
FIGURE 22 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024 VS 2032 (USD MILLION)
FIGURE 23 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024 VS 2032 (USD MILLION)
FIGURE 24 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024 VS 2032 (USD MILLION)
FIGURE 25 ASIA-PACIFIC: FUNCTIONAL SAFETY MARKET, BY END USER, 2024 VS 2032 (USD MILLION)
FIGURE 26 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY COUNTRY, 2024 VS 2032 (USD MILLION)
FIGURE 27 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY DEVICE, 2024 VS 2032 (USD MILLION)
FIGURE 28 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY SYSTEM, 2024 VS 2032 (USD MILLION)
FIGURE 29 REST OF THE WORLD: FUNCTIONAL SAFETY MARKET, BY END USER, 2024 VS 2032 (USD MILLION)
FIGURE 30 COMPETITVE BENCHMARKING: GLOBAL FUNCTIONAL SAFETY MARKET
FIGURE 31 HONEYWELL INTERNATIONAL INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 32 HONEYWELL INTERNATIONAL INC.: SWOT ANALYSIS
FIGURE 33 ABB LTD.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 34 ABB LTD.: SWOT ANALYSIS
FIGURE 35 SCHNEIDER ELECTRIC SE: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 36 SCHNEIDER ELECTRIC SE: SWOT ANALYSIS
FIGURE 37 EMERSON ELECTRIC CO.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 38 EMERSON ELECTRIC CO.: SWOT ANALYSIS
FIGURE 39 GENERAL ELECTRIC CO.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 40 GENERAL ELECTRIC CO.: SWOT ANALYSIS
FIGURE 41 ENDRESS+HAUSER: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 42 ENDRESS+HAUSER: SWOT ANALYSIS
FIGURE 43 SIEMENS AG: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 44 SIEMENS AG: SWOT ANALYSIS
FIGURE 45 OMRON CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 46 OMRON CORPORATION: SWOT ANALYSIS
FIGURE 47 ROCKWELL AUTOMATION INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 48 ROCKWELL AUTOMATION INC.: SWOT ANALYSIS
FIGURE 49 YOKOGAWA ELECTRIC CORPORATION: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 50 YOKOGAWA ELECTRIC CORPORATION: SWOT ANALYSIS