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Market Research Report
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953947

Global Functional Safety Market Size study with COVID-19 Impact, by System, by Offering, by Industry and Regional Forecasts 2020-2027

Published: | Bizwit Research & Consulting LLP | Delivery time: 2-3 business days

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Global Functional Safety Market Size study with COVID-19 Impact, by System, by Offering, by Industry and Regional Forecasts 2020-2027
Published: July 30, 2020
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

Title:
Global Functional Safety Market Size study with COVID-19 Impact, by System (Emergency Shutdown System (ESD), Fire & Gas Monitoring System, High Integrity Pressure Protection System (HIPPS), Burner Management System (BMS) and Turbomachinery Control (TMC)), by Offering (Component and Services), by Industry (Oil & Gas, Power Generation, Chemicals Food & Beverages, Water & Wastewater, Pharmaceuticals, Metal & Mining and Others) and Regional Forecasts 2020-2027.

Global Functional Safety Market is valued approximately USD 4.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.8 % over the forecast period 2020-2027. Functional safety is a security system or equipment, depends on the automatic protection functioning properly to reply to the inputs in a way that is predictable. Functional safety detects hazardous condition, which can then result in the activation of a corrective or protective device to reduce the consequences of a potentially harmful event occurring. The global Functional Safety is facing challenges due to the coronavirus pandemic as employees are asked to work from home and organizations are temporary shutdown. However, fiscal policy steps taken by regional financial institutions to keep manufacturing facilities floating amid COVID-19 crisis, strict mandates for safety regulations, surging demand for safety systems in oil & gas industry, high requirement for reliable safety systems to ensure personnel and asset protection and rise in Industrial Revolution are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: in April 2019, Schneider Electric launched Easergy P5 protection relay, more powerful and connected with its comprehensive digital toolbox, which includes: EcoStruxure Power Build - Medium Voltage, eSetup Easergy Pro, embedded web server, EcoStruxure Power Device app, and mySchneider mobile applications. Whereas,high investment required for installing functional safety systems and lack of awareness and complexity of standards is the major factor restraining the growth of global Functional Safety market during the forecast period.

The regional analysis of global Functional Safety market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the increasing industrialization in emerging economies such as China and India.

Major market player included in this report are:

Schneider Electric

Honeywell

ABB

Rockwell

Hima Paul

Yokogawa

Emerson Electric

GE

Siemens Ag

Right to Win

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

by System:

Emergency Shutdown System (ESD)

Fire & Gas Monitoring System

High Integrity Pressure Protection System (HIPPS)

Burner Management System (BMS)

Turbomachinery Control (TMC)

by Offering:

Component

Services

By Industry:

Oil & Gas

Power Generation

Chemicals

Food & Beverages

Water & Wastewater

Pharmaceuticals

Metal & Mining

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018

Base year - 2019

Forecast period - 2020 to 2027

Target Audience of the Global Functional Safety Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Table of Contents

Chapter 1. Executive Summary

  • 1.1. Market Snapshot
  • 1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
    • 1.2.1. Functional Safety Market, by Region, 2018-2027 (USD Billion)
    • 1.2.2. Functional Safety Market, by System, 2018-2027 (USD Billion)
    • 1.2.3. Functional Safety Market, by Offering, 2018-2027 (USD Billion)
    • 1.2.4. Functional Safety Market, by Industry, 2018-2027 (USD Billion)
  • 1.3. Key Trends
  • 1.4. Estimation Methodology
  • 1.5. Research Assumption

Chapter 2. Global Functional Safety Market Definition and Scope

  • 2.1. Objective of the Study
  • 2.2. Market Definition & Scope
    • 2.2.1. Scope of the Study
    • 2.2.2. Industry Evolution
  • 2.3. Years Considered for the Study
  • 2.4. Currency Conversion Rates

Chapter 3. Global Functional Safety Market Dynamics

  • 3.1. Functional Safety Market Impact Analysis (2018-2027)
    • 3.1.1. Market Drivers
    • 3.1.2. Market Challenges
    • 3.1.3. Market Opportunities

Chapter 4. Global Functional Safety Market Industry Analysis

  • 4.1. Porter's 5 Force Model
    • 4.1.1. Bargaining Power of Suppliers
    • 4.1.2. Bargaining Power of Buyers
    • 4.1.3. Threat of New Entrants
    • 4.1.4. Threat of Substitutes
    • 4.1.5. Competitive Rivalry
    • 4.1.6. Futuristic Approach to Porter's 5 Force Model (2017-2027)
  • 4.2. PEST Analysis
    • 4.2.1. Political
    • 4.2.2. Economical
    • 4.2.3. Social
    • 4.2.4. Technological
  • 4.3. Investment Adoption Model
  • 4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Functional Safety Market, by System

  • 5.1. Market Snapshot
  • 5.2. Global Functional Safety Market by System, Performance - Potential Analysis
  • 5.3. Global Functional Safety Market Estimates & Forecasts by System 2017-2027 (USD Billion)
  • 5.4. Functional Safety Market, Sub Segment Analysis
    • 5.4.1. Emergency Shutdown System (ESD)
    • 5.4.2. Fire & Gas Monitoring System
    • 5.4.3. High Integrity Pressure Protection System (HIPPS)
    • 5.4.4. Burner Management System (BMS)
    • 5.4.5. Turbomachinery Control (TMC)

Chapter 6. Global Functional Safety Market, by Offering

  • 6.1. Market Snapshot
  • 6.2. Global Functional Safety Market by Offering, Performance - Potential Analysis
  • 6.3. Global Functional Safety Market Estimates & Forecasts by Offering 2017-2027 (USD Billion)
  • 6.4. Functional Safety Market, Sub Segment Analysis
    • 6.4.1. Component
    • 6.4.2. Services

Chapter 7. Global Functional Safety Market, by Industry

  • 7.1. Market Snapshot
  • 7.2. Global Functional Safety Market by Industry, Performance - Potential Analysis
  • 7.3. Global Functional Safety Market Estimates & Forecasts by Industry 2017-2027 (USD Billion)
  • 7.4. Functional Safety Market, Sub Segment Analysis
    • 7.4.1. Oil & Gas
    • 7.4.2. Power Generation
    • 7.4.3. Chemicals
    • 7.4.4. Food & Beverages
    • 7.4.5. Water & Wastewater
    • 7.4.6. Pharmaceuticals
    • 7.4.7. Metal & Mining
    • 7.4.8. Others

Chapter 8. Global Functional Safety Market, Regional Analysis

  • 8.1. Functional Safety Market, Regional Market Snapshot
  • 8.2. North America Functional Safety Market
      • 8.2.1.1. U.S. Functional Safety Market
      • 8.2.1.2. System breakdown estimates & forecasts, 2017-2027
      • 8.2.1.3. Offering breakdown estimates & forecasts, 2017-2027
      • 8.2.1.4. Industry breakdown estimates & forecasts, 2017-2027
    • 8.2.2. Canada Functional Safety Market
  • 8.3. Europe Functional Safety Market Snapshot
    • 8.3.1. U.K. Functional Safety Market
    • 8.3.2. Germany Functional Safety Market
    • 8.3.3. France Functional Safety Market
    • 8.3.4. Spain Functional Safety Market
    • 8.3.5. Italy Functional Safety Market
    • 8.3.6. Rest of Europe Functional Safety Market
  • 8.4. Asia-Pacific Functional Safety Market Snapshot
    • 8.4.1. China Functional Safety Market
    • 8.4.2. India Functional Safety Market
    • 8.4.3. Japan Functional Safety Market
    • 8.4.4. Australia Functional Safety Market
    • 8.4.5. South Korea Functional Safety Market
    • 8.4.6. Rest of Asia Pacific Functional Safety Market
  • 8.5. Latin America Functional Safety Market Snapshot
    • 8.5.1. Brazil Functional Safety Market
    • 8.5.2. Mexico Functional Safety Market
  • 8.6. Rest of The World Functional Safety Market

Chapter 9. Competitive Intelligence

  • 9.1. Top Market Strategies
  • 9.2. Company Profiles
    • 9.2.1. Schneider Electric
      • 9.2.1.1. Key Information
      • 9.2.1.2. Overview
      • 9.2.1.3. Financial (Subject to Data Availability)
      • 9.2.1.4. Product Summary
      • 9.2.1.5. Recent Developments
    • 9.2.2. Honeywell
    • 9.2.3. ABB
    • 9.2.4. Rockwell
    • 9.2.5. Hima Paul
    • 9.2.6. Yokogawa
    • 9.2.7. Emerson Electric
    • 9.2.8. GE
    • 9.2.9. Siemens Ag
    • 9.2.10. Right to Win

Chapter 10. Research Process

  • 10.1. Research Process
    • 10.1.1. Data Mining
    • 10.1.2. Analysis
    • 10.1.3. Market Estimation
    • 10.1.4. Validation
    • 10.1.5. Publishing
  • 10.2. Research Attributes
  • 10.3. Research Assumption

LIST OF TABLES

  • TABLE 1. Global Functional Safety market, report scope
  • TABLE 2. Global Functional Safety market estimates & forecasts by region 2017-2027 (USD Billion)
  • TABLE 3. Global Functional Safety market estimates & forecasts by System 2017-2027 (USD Billion)
  • TABLE 4. Global Functional Safety market estimates & forecasts by Offering 2017-2027 (USD Billion)
  • TABLE 5. Global Functional Safety market estimates & forecasts by Industry 2017-2027 (USD Billion)
  • TABLE 6. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 7. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 8. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 9. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 10. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 11. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 12. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 13. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 14. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 15. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 16. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 17. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 18. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 19. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 20. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 21. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 22. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 23. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 24. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 25. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 26. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 27. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 28. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 29. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 30. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 31. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 32. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 33. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 34. Global Functional Safety market by segment, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 35. Global Functional Safety market by region, estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 36. U.S. Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 37. U.S. Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 38. U.S. Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 39. U.S. Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 40. Canada Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 41. Canada Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 42. Canada Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 43. Canada Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 44. UK Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 45. UK Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 46. UK Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 47. UK Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 48. Germany Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 49. Germany Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 50. Germany Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 51. Germany Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 52. France Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 53. France Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 54. France Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 55. France Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 56. Spain Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 57. Spain Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 58. Spain Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 59. Spain Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 60. Italy Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 61. Italy Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 62. Italy Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 63. Italy Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 64. ROE Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 65. ROE Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 66. ROE Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 67. ROE Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 68. China Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 69. China Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 70. China Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 71. China Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 72. India Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 73. India Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 74. India Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 75. India Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 76. Japan Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 77. Japan Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 78. Japan Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 79. Japan Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 80. Australia Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 81. Australia Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 82. Australia Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 83. Australia Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 84. South Korea Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 85. South Korea Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 86. South Korea Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 87. South Korea Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 88. ROPAC Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 89. ROPAC Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 90. ROPAC Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 91. ROPAC Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 92. Brazil Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 93. Brazil Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 94. Brazil Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 95. Brazil Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 96. Mexico Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 97. Mexico Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 98. Mexico Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 99. Mexico Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 100. ROLA Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 101. ROLA Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 102. ROLA Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 103. ROLA Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 104. ROW Functional Safety market estimates & forecasts, 2017-2027 (USD Billion)
  • TABLE 105. ROW Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 106. ROW Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 107. ROW Functional Safety market estimates & forecasts by segment 2017-2027 (USD Billion)
  • TABLE 108. List of secondary sources, used in the study of global Functional Safety market
  • TABLE 109. List of primary sources, used in the study of global Functional Safety market
  • TABLE 110. Years considered for the study
  • TABLE 111. Exchange rates considered

LIST OF FIGURES

  • FIG 1. Global Functional Safety market, research methodology
  • FIG 2. Global Functional Safety market, market estimation techniques
  • FIG 3. Global market size estimates & forecast methods
  • FIG 4. Global Functional Safety market, key trends 2019
  • FIG 5. Global Functional Safety market, growth prospects 2020-2027
  • FIG 6. Global Functional Safety market, porters 5 force model
  • FIG 7. Global Functional Safety market, pest analysis
  • FIG 8. Global Functional Safety market, value chain analysis
  • FIG 9. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 10. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 11. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 12. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 13. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 14. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 15. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 16. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 17. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 18. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 19. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 20. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 21. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 22. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 23. Global Functional Safety market by segment, 2017 & 2027 (USD Billion)
  • FIG 24. Global Functional Safety market, regional snapshot 2017 & 2027
  • FIG 25. North America Functional Safety market 2017 & 2027 (USD Billion)
  • FIG 26. Europe Functional Safety market 2017 & 2027 (USD Billion)
  • FIG 27. Asia Pacific Functional Safety market 2017 & 2027 (USD Billion)
  • FIG 28. Latin America Functional Safety market 2017 & 2027 (USD Billion)
  • FIG 29. Global Functional Safety market, company market share analysis (2019)