Functional safety device is part of the overall safety of a system or piece of equipment and generally focuses on electronics and related software. It looks at aspects of safety that relate to the function of a device and ensures that it works correctly in response to commands it receives. In a systemic approach Functional safety identifies potentially dangerous conditions, situations or events that could result in an accident that could harm somebody or destroy something. It enables corrective or preventive actions to avoid or reduce the impact of an accident. LPI (LP Information)' newest research report, the ﾓFunctional Safety Devices Industry Forecastﾔ looks at past sales and reviews total world Functional Safety Devices sales in 2022, providing a comprehensive analysis by region and market sector of projected Functional Safety Devices sales for 2023 through 2029. With Functional Safety Devices sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Functional Safety Devices industry. This Insight Report provides a comprehensive analysis of the global Functional Safety Devices landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Functional Safety Devices portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Functional Safety Devices market. This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Functional Safety Devices and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Functional Safety Devices. The global Functional Safety Devices market size is projected to grow from US$ 6218.7 million in 2022 to US$ 11240 million in 2029; it is expected to grow at a CAGR of 11240 from 2023 to 2029. Global Functional Safety Devices key players include Siemens, ABB, Schneider, Honeywell, etc. Global top four manufacturers hold a share about 55%. Europe is the largest market, with a share about 40%, followed by China, and North America, both have a share over 40 percent. In terms of product, Safety Sensors is the largest segment, with a share over 25%. And in terms of application, the largest application is Oil and Gas, followed by Power Generation, Automotive, Rail Transit, etc. This report presents a comprehensive overview, market shares, and growth opportunities of Functional Safety Devices market by product type, application, key manufacturers and key regions and countries. Market Segmentation: Segmentation by type Safety Sensors Safety PLCs Safety Relays Safety Valves Safety Actuators Safety Switchs Others Segmentation by application Automotive Rail Transit Chemical Oil and Gas Medical Power Generation Elevator and Escalator Others This report also splits the market by region: Americas United States Canada Mexico Brazil APAC China Japan Korea Southeast Asia India Australia Europe Germany France UK Italy Russia Middle East & Africa Egypt South Africa Israel Turkey GCC Countries The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration. Siemens ABB Schneider Honeywell Rockwell Automation Mitsubishi Electric Emerson Yokogawa Electric GE Omron TE Connectivity SICK PILZ HIMA Paul Hildebrandt Endress+Hauser Eaton Key Questions Addressed in this Report What is the 10-year outlook for the global Functional Safety Devices market? What factors are driving Functional Safety Devices market growth, globally and by region? Which technologies are poised for the fastest growth by market and region? How do Functional Safety Devices market opportunities vary by end market size? How does Functional Safety Devices break out type, application? What are the influences of COVID-19 and Russia-Ukraine war?
1 Scope of the Report 1.1 Market Introduction 1.2 Years Considered 1.3 Research Objectives 1.4 Market Research Methodology 1.5 Research Process and Data Source 1.6 Economic Indicators 1.7 Currency Considered 1.8 Market Estimation Caveats 2 Executive Summary 2.1 World Market Overview 2.1.1 Global Functional Safety Devices Annual Sales 2018-2029 2.
