Safety Instrumented System Market

Global Safety Instrumented System Market

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Raksha

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Raksha Sharma

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Amulya Agarwal

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Shruti Bhat

The global safety instrumented system market size was valued at USD 2.9 billion in 2020 and is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. Growth of the market is attributed to adoption of industry version 4.0 that points the technical enhancements in the safety system and a book has been announced by International Society of Automation (ISA) covering the whole safety instrumental system (SIS).

Government regulatory such as US occupational safety and health administration (OSHA), and environmental protection agency as well as some insurance companies keep highest priorities for the safety of communities, company personnel, and the environment. In the cluster of all the regional market China is considered as the rapid growing followed by South Korea, India, and Australia.

Global Safety Instrumented System Market Outlook

Safety instrumented system plays an important factor in providing the multiple layer of protection in several industrial processes and automation system. Safety system depicts a systematic and a disciplined approach which has a built-in threat identification software, safety requirement specification, and maintenance & operation of system during the entire lifespan of the plant.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing awareness about the vulnerability of data stored in cloud by the companies is one of the factors driving the market.
  • Rising demand for multi layered security solution is expected to create a lucrative opportunities for the key players in the market.
  • Rapid growth of the automotive manufacturing industry is one of the major factors in boosting the market.
  • Growing awareness about following the government regulations and industry safety standards is expected to drive the market during the forecast period.
  • Awareness among the professional working in oil & gas and energy generation industry towards enforcing safety measures is anticipated to drive the market.
  • High production & operation and low response rate is projected to hinder the market growth in the coming years.

Scope of Safety Instrumented System Market

The report on the global safety instrumented system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Safety Instrumented System Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Components (Switches, Sensors, Programmable Devices, Actuators & Valves, and Others), Applications (Emergency Shutdown System (ESS), Fire and Gas Monitoring and Control (F&GC), Burner Management System (BMS), High Integrity Pressure Protection System (HIPPS), Turbo Machinery Control, and Others), End-users (Food & Beverages, Oil & Gas, Pharmaceuticals, Power Generation, Chemical and Petrochemicals, and Others)

Regional Scope

North America, Latin America, Europe, Asia Pacific, Middle-East & Africa.

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ABB Ltd; Rockwell Automation Inc.; Honeywell International Inc.; Emersion Electric Company; and Yokogawa Electric Corporation

Safety Instrumented System Market Segment Insights

The sensors segment is anticipated to exhibit a high CAGR

On the basis of components, the market is fragmented into switches, sensors, programmable devices, actuators & valves, and others. The sensors segment is anticipated to exhibit a high CAGR during the forecast period owing to the integrated system such as hazard identification, safety requirement identification, and identification of operational and maintenance lifespan of power plant.

The emergency shutdown system is expected to hold large share of the market

Based on the applications, the market is segregated into emergency shutdown system (ESS), fire and gas monitoring and control (F&GC), burner management system (BMS), high integrity pressure protection system (HIPPS), turbo machinery control, and others. The emergency shutdown system segment is expected to hold large share of the market owing to its advanced system in detecting the threat and reacting swiftly before it create a large scale catastrophe.

Global Safety Instrumented System Market Applications

The food & beverages segment represent key share of the market

Based on end users, the market is segregated into food & beverages, oil & gas, pharmaceuticals, power generation, chemical and petrochemicals, and others. The food and beverages segment holds a key share of the market owing to rising adoption of automation, unavailability of cheap labors, advanced robots to work more efficiently & precisely, and safety and health laws as well as industry is more reliant on computer-based system for the process including supply chain as well. However the chemical and petrochemicals segment is anticipated to grow at a rapid pace due to increasing investment in downstream equipments of oil & gas sector and transition of safety measures.

Global Safety Instrumented System Market End Users

Asia Pacific is anticipated to dominate the market

In the terms of the regions, the market is categorized into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period owing to rising investment towards renewable energy, food & beverages, pharmaceuticals in countries such as China and India.

Segments

The safety instrumented system market has been differentiated on the basis of

Components

  • Switches
  • Sensors
  • Programmable Devices
  • Actuators & Valves
  • Others

Applications

  • Emergency Shutdown System (ESS)
  • Fire and Gas Monitoring and Control (F&GC)
  • Burner Management System (BMS)
  • High Integrity Pressure Protection System (HIPPS)
  • Turbo Machinery Control
  • Others

End-users

  • Food & Beverages
  • Oil & Gas
  • Pharmaceuticals
  • Power Generation
  • Chemical and Petrochemicals
  • Others

Regions

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key players

Competitive Landscape

Key players competing in global safety instrumented system market include ABB Ltd; Rockwell Automation Inc.; Honeywell International Inc.; Emersion Electric Company; Yokogawa Electric Corporation.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

In April 2019, Rockwell Automation Inc. launched its ControlLogix 5580 for industrial control system security which provides security based on the global security standards, to protect control level communication and overall systems.

In April 2019, Honeywell International Inc. introduced automated robot system for unloading packages from trucks trailers and shipping containers at distribution centers. Smart robots help users to improve workplace safety.

Safety Instrumented System Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Safety Instrumented System Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Safety Instrumented System Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Safety Instrumented System Market - Supply Chain
  4.5. Global Safety Instrumented System Market Forecast
     4.5.1. Safety Instrumented System Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Safety Instrumented System Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Safety Instrumented System Market Absolute $ Opportunity
5. Global Safety Instrumented System Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Safety Instrumented System Market Size and Volume Forecast by Applications
     5.3.1. Emergency Shutdown System (ESS) Fire and Gas Monitoring and Control (F&GC) Burner Management System (BMS) High Integrity Pressure Protection System (HIPPS) Turbo Machinery Control Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Safety Instrumented System Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Safety Instrumented System Market Size and Volume Forecast by End Users
     6.3.1. Food & Beverages Oil & Gas Pharmaceuticals Power Generation Chemical and Petrochemicals Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Safety Instrumented System Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Safety Instrumented System Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Safety Instrumented System Demand Share Forecast, 2019-2026
8. North America Safety Instrumented System Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Safety Instrumented System Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Safety Instrumented System Market Size and Volume Forecast by Applications
     8.4.1. Emergency Shutdown System (ESS) Fire and Gas Monitoring and Control (F&GC) Burner Management System (BMS) High Integrity Pressure Protection System (HIPPS) Turbo Machinery Control Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Safety Instrumented System Market Size and Volume Forecast by End Users
     8.7.1. Food & Beverages Oil & Gas Pharmaceuticals Power Generation Chemical and Petrochemicals Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Safety Instrumented System Demand Share Forecast, 2019-2026
9. Latin America Safety Instrumented System Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Safety Instrumented System Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Safety Instrumented System Market Size and Volume Forecast by Applications
     9.4.1. Emergency Shutdown System (ESS) Fire and Gas Monitoring and Control (F&GC) Burner Management System (BMS) High Integrity Pressure Protection System (HIPPS) Turbo Machinery Control Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Safety Instrumented System Market Size and Volume Forecast by End Users
     9.7.1. Food & Beverages Oil & Gas Pharmaceuticals Power Generation Chemical and Petrochemicals Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Safety Instrumented System Demand Share Forecast, 2019-2026
10. Europe Safety Instrumented System Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Safety Instrumented System Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Safety Instrumented System Market Size and Volume Forecast by Applications
     10.4.1. Emergency Shutdown System (ESS) Fire and Gas Monitoring and Control (F&GC) Burner Management System (BMS) High Integrity Pressure Protection System (HIPPS) Turbo Machinery Control Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Safety Instrumented System Market Size and Volume Forecast by End Users
     10.7.1. Food & Beverages Oil & Gas Pharmaceuticals Power Generation Chemical and Petrochemicals Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Safety Instrumented System Demand Share Forecast, 2019-2026
11. Asia Pacific Safety Instrumented System Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Safety Instrumented System Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Safety Instrumented System Market Size and Volume Forecast by Applications
     11.4.1. Emergency Shutdown System (ESS) Fire and Gas Monitoring and Control (F&GC) Burner Management System (BMS) High Integrity Pressure Protection System (HIPPS) Turbo Machinery Control Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Safety Instrumented System Market Size and Volume Forecast by End Users
     11.7.1. Food & Beverages Oil & Gas Pharmaceuticals Power Generation Chemical and Petrochemicals Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Safety Instrumented System Demand Share Forecast, 2019-2026
12. Middle East & Africa Safety Instrumented System Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Safety Instrumented System Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Safety Instrumented System Market Size and Volume Forecast by Applications
     12.4.1. Emergency Shutdown System (ESS) Fire and Gas Monitoring and Control (F&GC) Burner Management System (BMS) High Integrity Pressure Protection System (HIPPS) Turbo Machinery Control Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Safety Instrumented System Market Size and Volume Forecast by End Users
     12.7.1. Food & Beverages Oil & Gas Pharmaceuticals Power Generation Chemical and Petrochemicals Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Safety Instrumented System Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Safety Instrumented System Market: Market Share Analysis
  13.2. Safety Instrumented System Distributors and Customers
  13.3. Safety Instrumented System Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. ABB Ltd Rockwell Automation Inc. Honeywell International Inc. Emersion Electric Company Yokogawa Electric Corporation

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