Scope of the Study
The functional safety device is defined as the part of a system equipment's overall safety, which mainly depends on electronics as well as related software. It is used in various applications such as automotive, transportation, medical, manufacturing, power generation, and others. It is available in various types such as Safety Sensors, Safety PLCs, Safety Relays, Valves, Actuator and others. High Requirement for Reliable Safety Systems and rising awareness among consumers are likely to be the prime drivers for market growth.
The market study is being classified by Type (Safety Sensors, Safety PLCs, Safety Relays, Valves and Actuator), by Application (Automotive, Transportation, Medical, Manufacturing, Power Generation and Others) and major geographies with country level break-up.
Siemens (Germany), ABB (Switzerland), Honeywell (United States), General Electric (United States), Schneider (France), TE Connectivity (Switzerland), Emerson Electric (United States), Yokogawa Electric Corporation (Japan), Rockwell Automation, Inc. (United States) and Omron (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sick AG (Germany), PILZ (India) and HIMA Paul Hildebrandt (United States).
The global functional safety devices market is highly fragmented with the presence of local and regional players operating in the market. Some of the major players operating in the market are Siemens (Germany), ABB (Switzerland), Honeywell (United States), among others. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Functional Safety Devices market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Functional Safety Devices market by Type, Application and Region.
On the basis of geography, the market of Functional Safety Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Strict Mandates for Safety Regulations as well as Increase in Industrial Revolution 4.0
- Growing Demand for Safety Systems in Oil & Gas Industry
- Technology Advancement regarding Functional Safety Devices
- Issue related to High Investment Required for Installing Functional Safety Systems
- Increasing Acceptance of Workplace Safety Standards in Emerging Economies Such as China and India
- Issue related to Lack of Awareness and Complexity of Standards
Key Target AudienceATP Assay Manufacturers Company, Regulatory Bodies, Component Suppliers, Government Regulatory Authorities, Technology Investors and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase