ÌÇÐÄvlog´«Ã½

Safety Instrumented System Market Share

Statistics for the 2023 & 2024 Safety Instrumented System market share, created by ÌÇÐÄvlog´«Ã½â„¢ Industry Reports. Safety Instrumented System share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Safety Instrumented System Industry

The safety instrumented systems market is semi-consolidated with several significant players like Siemens AG, ABB Ltd, and Schneider Electric SE. With a prominent share in the market, these major players are focusing on expanding their customer base across foreign countries. These companies leverage strategic collaborative initiatives to increase their market share and profitability. Competition, rapid technological advancements, and frequent changes in consumer preferences are expected to threaten the market's growth during the forecast period.

  • October 2023: Honeywell launched lithium-ion (Li-ion) battery safety sensors designed to play a pivotal role in identifying potential battery fires in electric vehicles (EVs). Complementing this, Honeywell offers a range of personal protective equipment (PPE) and gas detection solutions to enhance worker safety in EV plants. The integration of Honeywell battery safety sensors into EV and scooter battery packs enables the early detection of thermal runaway risks, providing timely warnings to passengers and assisting manufacturers in meeting global battery fire safety standards.
  • August 2023: Yokogawa Electric Corporation unveiled plans to launch an upgraded version of the Collaborative Information Server (CI Server), a key component within the OpreX Control and Safety System suite. This upgrade boasts enhanced alarm management, improved accessibility to maintenance information, and extended support for global communication standards. The solution aims to aggregate substantial data from diverse plant equipment and systems, facilitating the streamlined management of production activities throughout the enterprise. It establishes an environment conducive to remote monitoring, control operations from any location, and prompt decision-making.

Safety Instrumented System Market Leaders

  1. Rockwell Automation Inc.

  2. Emerson Electric Company

  3. Honeywell International Inc.

  4. Yokogawa Electric Corporation

  5. ABB Ltd

*Disclaimer: Major Players sorted in no particular order

Safety Instrumented System Market Concentration

Safety Instrumented Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)