Global Functional Safety Devices Market Growth 2025-2031

Global Functional Safety Devices Market Growth 2025-2031

The global Functional Safety Devices market size is predicted to grow from US$ 7312 million in 2025 to US$ 12140 million in 2031; it is expected to grow at a CAGR of 8.8% from 2025 to 2031.

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.

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.

LP Information, Inc. (LPI) ' newest research report, the “Functional Safety Devices Industry Forecast” looks at past sales and reviews total world Functional Safety Devices sales in 2024, providing a comprehensive analysis by region and market sector of projected Functional Safety Devices sales for 2025 through 2031. 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.

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.

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 analysing 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 by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.