Global safety instrumented systems market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 12.5% during the forecast period.



Global Safety Instrumented Systems Market

The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Market Definition

Safety instrumented system (SIS) is a system that is designed for harmful or unsafe conditions in a plant (operation unit) and used to trigger alarms when risk condition occurs. This system includes an engineered set of software and hardware controls such as sensors, logic solver, and more others.

Market Dynamics

A growing adoption of safety instrumented system in industries such as nuclear, chemical, refineries and other process facilities to provide safety to workers and plants is the major driving factor behind the growth of the market. A rising demand for SIS system in petrochemical, mining and gas compression industry, an increasing adoption of various kinds of sensors in this system, growing need to reduce the risk of harmful accidents in plant, escalating demand for more safer and reliable process operations and rising adoption of various new safety standards are expected to improve growth of the market during the forecast period.
However, high costs associated with the SIS system and its maintenance is the major restraining factor that could hinder the growth of the market.

Global Safety Instrumented Systems Market: Segmentation Analysis

By product type, emergency shutdown system segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Emergency shutdown system is designed to reduce the results of emergency situations such as break out of hydrocarbons, uncontrolled flooding and occurrence of fire due to leakage of gases in various industries. A growing adoption of emergency shutdown system in industries such as oil and gas, chemical, petrochemical, and metal processing is attributed to the growth of the market.

By industry, chemical & petroleum refinery segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. The chemical and petroleum refinery industry is increasingly using SIS system to balance their process control systems. Increasing risks of fire and gas leakage incidents in chemical and petrochemical industry and rising need to avoid such conditions is attributed to the growth of the market. However, food and beverage industry is projected to witness fast growth at a CAGR of XX% during the forecast period. Rising adoption of various automated systems in food and beverage industry, rising implementation of various health and safety regulations and rising awareness about health concerns are expected to expand market growth in the coming years.

Global Safety Instrumented Systems Market: Regional Analysis

Region-wise, Asia Pacific held the largest market share in 2019 and is projected to witness high growth at a CAGR of XX% during the forecast period. The countries such as China, Japan, India, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the high scale adoption of various SIS systems such as emergency shutdown system and safety shutdown system in various manufacturing facilities. Growing adoption of stringent government rules and regulations regarding safety of pants and workers, increasing industrialization, rising demand to avoid hazardous incidence, growing popularity of industrial automation systems and growing market for manufacturing output from countries like China, Japan and South Korea is driving the growth of the market in APAC region.

Global Safety Instrumented Systems Market: Key Development

• In Feb 2016, Rockwell Automation has introduced OptiSIS solution for industrial operators to provide pre-engineered safety instrumented system for various process applications.
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The objective of the report is to present a comprehensive analysis of the Global Safety Instrumented Systems Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Safety Instrumented Systems Market dynamics, structure by analyzing the market segments and projects the Global Safety Instrumented Systems Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Safety Instrumented Systems Market make the report investor’s guide.
Scope of Global Safety Instrumented Systems Market

Global Safety Instrumented Systems Market, By Component

• Sensors
• Switches
• Programmable Devices
• Actuators and Valves
• Others
Global Safety Instrumented Systems Market, By Product Type

• Emergency Shutdown System
• Safety Interlock System
• Safety Shutdown System
• Fire & Gas Monitoring and Control System
• Burner Management System
• Turbo Machinery Control
• High Integrity Pressure Protection System
Global Safety Instrumented Systems Market, By Industry

• Energy & Power
• Pharmaceutical
• Mining
• Food and Beverage
• Oil & Gas
• Chemical & Petroleum Refinery
• Others
Global Safety Instrumented Systems Market, By Region

• North America
 US
 Canada
• Europe
 UK
 France
 Germany
 Italy
 Spain
 Norway
 Russia
• Asia Pacific
 China
 India
 Japan
 South Korea
 Australia
 Malaysia
 Indonesia
• South America
 Brazil
 Mexico
 Argentina
• Middle East and Africa
Global Safety Instrumented Systems Market, Key Players

• Emerson Process Management
• Rockwell Automation
• Johnson Controls, Inc
• General Electric Company
• Yokogawa Electric Corporation
• OMRON Corporation
• HIMA Paul Hildebrandt GmbH
• ABB Ltd
• Tyco International Plc
• Honeywell
• Schneider Electric
• Siemens
• Matrix Technologies , Inc
• Esoteric Automation
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