Global Safety Instrumented Systems Market 2022-2026

Global Safety Instrumented Systems Market 2022-2026

Technavio has been monitoring the safety instrumented systems market and it is poised to grow by $ 1.17 bn during 2022-2026, progressing at a CAGR of 6.62% during the forecast period. Our report on the safety instrumented systems market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the surge in usage in oil and gas, chemical, and other industries, and rising global automotive manufacturing. In addition, the surge in usage in oil and gas, chemical, and other industries is anticipated to boost the growth of the market as well.

The safety instrumented systems market analysis includes the application segment and geographic landscape.

Technavio's safety instrumented systems market is segmented as below:

By Application

• Emergency shutdown systems
• Fire and gas monitoring and control
• Others

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• MEA

This study identifies the government safety regulations for industriesas one of the prime reasons driving the safety instrumented systems market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on safety instrumented systems market covers the following areas:

• Safety instrumented systems market sizing
• Safety instrumented systems market forecast
• Safety instrumented systems market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading safety instrumented systems market vendors that include ABB Ltd., Emerson Electric Co., HIMA GmbH, Honeywell International Inc., Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, SIS-TECH Solutions, and Yokogawa Electric Corp. Also, the safety instrumented systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Companies Mentioned

ABB Ltd., Emerson Electric Co., HIMA GmbH, Honeywell International Inc., Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, Siemens AG, SIS-TECH Solutions, Yokogawa Electric Corp.