Global Functional Safety Devices Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2020-2026

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.
Mandatory functional safety standards and government policies, rising emphasis on proactive functional safety systems, and increasing demand for safety instrumented systems in the chemical and oil & gas industries, owing to the rising incidents of accidents in these industries, are driving the growth of the market.

Market Analysis and Insights: Global Functional Safety Devices Market
In 2019, the global Functional Safety Devices market size was US$ 5540.6 million and it is expected to reach US$ 9551.9 million by the end of 2026, with a CAGR of 8.0% during 2021-2026.
Global Functional Safety Devices Scope and Market Size
Functional Safety Devices market is segmented by region, by country, company, type, application and by sales channels. Players, stakeholders, and other participants in the global Functional Safety Devices market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2015-2026.

Segment by Type, the Functional Safety Devices market is segmented into
Safety Sensors
Safety PLCs
Safety Relays
Valves

Segment by Application, the Functional Safety Devices market is segmented into
Automotive
Transportation
Medical
Manufacturing
Power Generation
Oil & Gas
Others

Regional and Country-level Analysis:
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

Competitive Landscape

and Functional Safety Devices Market Share Analysis
Functional Safety Devices market competitive landscape provides details and data information by companies. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on sale and revenue by players for the period 2015-2020. Details included are company description, major business, Functional Safety Devices product introduction, recent developments, Functional Safety Devices sales by region, type, application and by sales channel.

The major companies include:
Siemens
ABB Group
Honeywell International
General Electric
Schneider Electric
TE Connectivity
Emerson Electric
Yokogawa Electric
Rockwell Automation
Omron Corporation
SICK
PILZ
HIMA Paul Hildebrandt