How Has the Safety Instrumented Systems Market Size Evolved in Recent Years?
The safety instrumented systems market has seen considerable growth due to a variety of factors.
• The market for safety instrumented systems has seen a significant expansion in recent years. The market value is projected to rise from $4.21 billion in 2024 to $4.53 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%.
The amplified growth during the historic period is credited to incidents and catastrophes in the industrial sector, emphasis on asset safeguarding and loss prevention, the escalating intricacy of industrial procedures, the increasing need for operational effectiveness, and a heightened awareness about the importance of human safety factors.
What Is The Forecast For The Safety Instrumented Systems Market Size?
The safety instrumented systems market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of safety instrumented systems is predicted to experience significant growth, reaching $6.07 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%.
This growth during the forecast period is driven by factors such as an escalating focus on cybersecurity, expansion of process industries, quick urbanization and development of infrastructure, a rising demand for scalable and modular solutions, and an increasing importance of remote monitoring and maintenance. The prediction period will also witness trends like growing adoption of Industrial Internet of Things (IIoT) and Industry 4.0 technologies, an increase in the demand for functional safety solutions, use of wireless technologies, and the need for remote monitoring and management.
What Are The Essential Drivers Behind The Growth Of The Safety Instrumented Systems Market?
The surge in industrial accidents is expected to fuel the expansion of the safety instrumented systems market in the future. Industrial accidents can be defined as unexpected occurrences or incidents in industrial areas like factories, manufacturing plants, construction sites, and refineries, leading to injuries, health problems, or property damage. Such accidents could be the result of rapid industrialization, expanded workforce, technological difficulties, and lack of safety awareness. Safety instrumented systems (SIS) are employed to avert or limit the impact of industrial accidents by establishing protective barriers against dangerous incidents, safeguarding people and assets, while maintaining regulatory adherence. For example, in December 2023, the Bureau of Labor Statistics, a U.S. government entity, reported a total of 5,486 fatal occupational injuries in the U.S. in 2022, an increase of 5.7% from 5,190 in 2021. As such, the rising occurrence of industrial accidents is catalyzing the growth of the safety-instrumented systems market.
How Is The Global Safety Instrumented Systems Market Divided Into Key Segments?
The safety instrumented systems market covered in this report is segmented –
1) By Type: Safety Switches, Safety Sensors, Emergency Stop Devices, Programmable Safety Devices
2) By Application: Emergency Shutdown Systems (ESS), Fire And Gas Monitoring and Control (F&GC), High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), Turbo Machinery Control, Other Applications
3) By End User: Energy And Power, Pharmaceutical, Mining, Food and Beverage, Oil And Gas, Chemical And Petroleum Refinery, Other End Users
Subsegments:
1) By Safety Switches: Non-contact Safety Switches, Positive Opening Safety Switches, Door Safety Switches
2) By Safety Sensors: Safety Light Curtains, Safety Laser Scanners, Safety Mats
3) By Emergency Stop Devices: Push Buttons, Pull Cord Emergency Stop Switches, Emergency Stop Buttons
4) By Programmable Safety Devices: Safety PLCs, Safety Controllers, Safety Relays
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What Emerging Trends Are Influencing The Growth Of The Safety Instrumented Systems Market?
Leading companies in the safety instrumented systems market are intensifying their efforts to create advanced and integrated safety applications like hybrid safety, in an attempt to outshine their competitors. Hybrid safety has the versatility of supporting both process safety (used in continuous process industries) and machine safety (used in discrete manufacturing), making it applicable across a wide range of industrial applications that necessitate high safety benchmarks. For instance, Rockwell Automation, Inc., a US-based industrial automation firm, in September 2024, introduced Logix SIS, a state-of-the-art safety instrumented system (SIS) conceived to cater to the shifting needs of contemporary industrial settings. The Logix SIS (Safety Instrumented System) series furnishes cutting-edge automation solutions focused on safeguarding individuals, assets, and the environment by effectuating safety controls, alerts, and interlocks. The Logix SIS devised by Rockwell amalgamates safety and standard control systems, thereby simplifying safety compliance and augmenting system diagnostics and availability. Additionally, it bolsters the proficiency to administer and oversee risks in intricate processes, positioning it as a crucial innovation for ensuring safety in automated and perilous industrial environments.
Who Are the Key Players In The Safety Instrumented Systems Market?
Major companies operating in the safety instrumented systems market are:
• Siemens AG
• General Electric Company
• Honeywell International Inc.
• Schneider Electric SE
• Schlumberger Limited
• ABB Ltd.
• Tyco International Plc
• Johnson ControlsInc.
• Baker Hughes
• Emerson Electric Company
• Siemens AG
• OMRON Corporation
• Matrix Technologies Inc.
• Yokogawa Electric Corporation
• Endress+Hauser
• SIS-TECH Solutions LP
• HIMA Paul Hildebrandt GmbH
• Esoteric Automation
• SUPCON Group Co. Ltd.
• Consen Automation Control Ltd.
• HollySys Automation Technologies
• Idec Corporation
• General Monitors Ireland Limited
• Draegerwerk AG & Co. KGaA
• The ESAB Group Inc.
• Petrotechnics Ltd.
What Are The Regional Insights Into The Safety Instrumented Systems Market?
North America was the largest region in the safety instrumented systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the safety instrumented systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
