Asia Pacific Functional Safety Market Size, Share & Trends Analysis Report By Device Type, By Industry Verticals, By Safety System, By Country and Growth Forecast, 2024

List of Tables

The Asia Pacific Functional Safety Market would witness market growth of 10.7% CAGR during the forecast period (2024-2031).

The China market dominated the Asia Pacific Functional Safety Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $877.6 million by 2031. The Japan market is registering a CAGR of 10% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 11.4% during (2024 - 2031).

Functional safety systems are crucial for ensuring the safety and reliability of consumer electronics products such as smartphones, tablets, laptops, and wearable devices. Safety measures help prevent accidents such as electric shocks, battery fires, overheating, and short circuits in consumer electronics devices. For instance, according to the India Brand Equity Foundation, India is one of the greatest consumer electronics sectors in the Asia-Pacific region. It is home to a substantial talent for electronic and embedded software design. India has committed to attain US$ 300 billion in electronics manufacturing and US$ 120 billion in exports by 2025-26. Safety systems are essential for ensuring the safe operation of lithium-ion batteries used in consumer electronics devices.

The mining industry is subject to strict safety regulations due to the hazardous nature of mining operations. Compliance with safety standards such as ISO 13849, IEC 61508, and IEC 62061 is essential for ensuring the safety of mining operations. Mining operations involve high-risk activities such as drilling, blasting, excavation, and material handling. Safety systems are essential for protecting personnel, equipment, and the environment from accidents and hazards in mining operations.

The pharmaceutical industry in India is witnessing significant growth, driven by increasing healthcare expenditure, growing population, and rising demand for pharmaceutical products. Pharmaceutical companies in India are expanding their production capacity to meet the growing demand for pharmaceutical products. As per Invest India, the pharmaceutical industry in India is anticipated to increase to $65 billion by 2024 and $130 billion by 2030. Additionally, electronic devices such as smartphones, tablets, and laptops contain safety-critical systems that require functional safety solutions to ensure the safety and well-being of users in China. Functional safety solutions are integrated into electronic devices to prevent malfunctions, errors, and accidents that could endanger user safety in China. Technological advancements in consumer electronics are driving the development of advanced electronic devices with integrated safety features in China. China's industry and brand-building skills have allowed the country to rank first in the world for consumer electronics production and sales, according to the State Council of China report updated in 2022.

Based on Device Type, the market is segmented into Safety Sensors, Safety Controllers, Modules & Relays, Programmable Safety Systems, Final Control Elements (Valves, Actuators), Emergency Stop Devices, and Others. Based on Industry Verticals, the market is segmented into Oil & Gas, Power Generation, Automotive, Pharmaceutical, Food & Beverage, and Others. Based on Safety System, the market is segmented into Emergency Shutdown Systems (ESD), Burner Management Systems (BMS), High-Integrity Pressure Protection Systems (HIPPS), Turbomachinery Control (TMC) Systems, Supervisory Control and Data Acquisition (SCADA) Systems, and Fire & Gas Monitoring Control Systems. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

ABB Ltd.
General Electric Company
Siemens AG
Rockwell Automation, Inc.
Schneider Electric SE
Mitsubishi Electric Corporation
Emerson Electric Co.
Honeywell International, Inc.
Omron Corporation
Yokogawa Electric Corporation

Asia Pacific Functional Safety Market Report Segmentation

By Device Type

Safety Sensors
Safety Controllers, Modules & Relays
Programmable Safety Systems
Final Control Elements (Valves, Actuators)
Emergency Stop Devices
Others

By Industry Verticals

Oil & Gas
Power Generation
Automotive
Pharmaceutical
Food & Beverage
Others

By Safety System

Emergency Shutdown Systems (ESD)
Burner Management Systems (BMS)
High-Integrity Pressure Protection Systems (HIPPS)
Turbomachinery Control (TMC) Systems
Supervisory Control and Data Acquisition (SCADA) Systems
Fire & Gas Monitoring Control Systems

By Country

China
Japan
India
South Korea
Australia
Malaysia
Rest of Asia Pacific

Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 Asia Pacific Functional Safety Market, by Device Type
- 1.4.2 Asia Pacific Functional Safety Market, by Industry Verticals
- 1.4.3 Asia Pacific Functional Safety Market, by Safety System
- 1.4.4 Asia Pacific Functional Safety Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges

Chapter 4. Competition Analysis - Global

4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Nov - 2024, Mar) Leading Players
4.4 Porter's Five Forces Analysis

Chapter 5. Asia Pacific Functional Safety Market by Device Type

5.1 Asia Pacific Safety Sensors Market by Country
5.2 Asia Pacific Safety Controllers, Modules & Relays Market by Country
5.3 Asia Pacific Programmable Safety Systems Market by Country
5.4 Asia Pacific Final Control Elements (Valves, Actuators) Market by Country
5.5 Asia Pacific Emergency Stop Devices Market by Country
5.6 Asia Pacific Others Market by Country

Chapter 6. Asia Pacific Functional Safety Market by Industry Verticals

6.1 Asia Pacific Oil & Gas Market by Country
6.2 Asia Pacific Power Generation Market by Country
6.3 Asia Pacific Automotive Market by Country
6.4 Asia Pacific Pharmaceutical Market by Country
6.5 Asia Pacific Food & Beverage Market by Country
6.6 Asia Pacific Others Market by Country

Chapter 7. Asia Pacific Functional Safety Market by Safety System

7.1 Asia Pacific Emergency Shutdown Systems (ESD) Market by Country
7.2 Asia Pacific Burner Management Systems (BMS) Market by Country
7.3 Asia Pacific High-Integrity Pressure Protection Systems (HIPPS) Market by Country
7.4 Asia Pacific Turbomachinery Control (TMC) Systems Market by Country
7.5 Asia Pacific Supervisory Control and Data Acquisition (SCADA) Systems Market by Country
7.6 Asia Pacific Fire & Gas Monitoring Control Systems Market by Country

Chapter 8. Asia Pacific Functional Safety Market by Country

8.1 China Functional Safety Market
- 8.1.1 China Functional Safety Market by Device Type
- 8.1.2 China Functional Safety Market by Industry Verticals
- 8.1.3 China Functional Safety Market by Safety System
8.2 Japan Functional Safety Market
- 8.2.1 Japan Functional Safety Market by Device Type
- 8.2.2 Japan Functional Safety Market by Industry Verticals
- 8.2.3 Japan Functional Safety Market by Safety System
8.3 India Functional Safety Market
- 8.3.1 India Functional Safety Market by Device Type
- 8.3.2 India Functional Safety Market by Industry Verticals
- 8.3.3 India Functional Safety Market by Safety System
8.4 South Korea Functional Safety Market
- 8.4.1 South Korea Functional Safety Market by Device Type
- 8.4.2 South Korea Functional Safety Market by Industry Verticals
- 8.4.3 South Korea Functional Safety Market by Safety System
8.5 Australia Functional Safety Market
- 8.5.1 Australia Functional Safety Market by Device Type
- 8.5.2 Australia Functional Safety Market by Industry Verticals
- 8.5.3 Australia Functional Safety Market by Safety System
8.6 Malaysia Functional Safety Market
- 8.6.1 Malaysia Functional Safety Market by Device Type
- 8.6.2 Malaysia Functional Safety Market by Industry Verticals
- 8.6.3 Malaysia Functional Safety Market by Safety System
8.7 Rest of Asia Pacific Functional Safety Market
- 8.7.1 Rest of Asia Pacific Functional Safety Market by Device Type
- 8.7.2 Rest of Asia Pacific Functional Safety Market by Industry Verticals
- 8.7.3 Rest of Asia Pacific Functional Safety Market by Safety System

Chapter 9. Company Profiles

9.1 ABB Ltd.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
  - 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
9.2 General Electric Company
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 SWOT Analysis
9.3 Siemens AG
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
  - 9.3.5.1 Product Launches and Product Expansions:
- 9.3.6 SWOT Analysis
9.4 Rockwell Automation, Inc.
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expenses
- 9.4.5 Recent strategies and developments:
  - 9.4.5.1 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
9.5 Schneider Electric SE
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 SWOT Analysis
9.6 Mitsubishi Electric Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 Recent strategies and developments:
  - 9.6.5.1 Partnerships, Collaborations, and Agreements:
  - 9.6.5.2 Product Launches and Product Expansions:
- 9.6.6 SWOT Analysis
9.7 Emerson Electric Co.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
  - 9.7.5.1 Acquisition and Mergers:
- 9.7.6 SWOT Analysis
9.8 Honeywell International, Inc.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 Recent strategies and developments:
  - 9.8.5.1 Partnerships, Collaborations, and Agreements:
  - 9.8.5.2 Product Launches and Product Expansions:
  - 9.8.5.3 Acquisition and Mergers:
- 9.8.6 SWOT Analysis
9.9 Omron Corporation
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
  - 9.9.5.1 Partnerships, Collaborations, and Agreements:
  - 9.9.5.2 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
9.10. Yokogawa Electric Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
  - 9.10.5.1 Product Launches and Product Expansions:
- 9.10.6 SWOT Analysis

LIST OF TABLES

TABLE 1 Asia Pacific Functional Safety Market, 2020 - 2023, USD Million
TABLE 2 Asia Pacific Functional Safety Market, 2024 - 2031, USD Million
TABLE 3 Partnerships, Collaborations and Agreements- Functional Safety Market
TABLE 4 Product Launches And Product Expansions- Functional Safety Market
TABLE 5 Acquisition and Mergers- Functional Safety Market
TABLE 6 Asia Pacific Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 7 Asia Pacific Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 8 Asia Pacific Safety Sensors Market by Country, 2020 - 2023, USD Million
TABLE 9 Asia Pacific Safety Sensors Market by Country, 2024 - 2031, USD Million
TABLE 10 Asia Pacific Safety Controllers, Modules & Relays Market by Country, 2020 - 2023, USD Million
TABLE 11 Asia Pacific Safety Controllers, Modules & Relays Market by Country, 2024 - 2031, USD Million
TABLE 12 Asia Pacific Programmable Safety Systems Market by Country, 2020 - 2023, USD Million
TABLE 13 Asia Pacific Programmable Safety Systems Market by Country, 2024 - 2031, USD Million
TABLE 14 Asia Pacific Final Control Elements (Valves, Actuators) Market by Country, 2020 - 2023, USD Million
TABLE 15 Asia Pacific Final Control Elements (Valves, Actuators) Market by Country, 2024 - 2031, USD Million
TABLE 16 Asia Pacific Emergency Stop Devices Market by Country, 2020 - 2023, USD Million
TABLE 17 Asia Pacific Emergency Stop Devices Market by Country, 2024 - 2031, USD Million
TABLE 18 Asia Pacific Others Market by Country, 2020 - 2023, USD Million
TABLE 19 Asia Pacific Others Market by Country, 2024 - 2031, USD Million
TABLE 20 Asia Pacific Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 21 Asia Pacific Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 22 Asia Pacific Oil & Gas Market by Country, 2020 - 2023, USD Million
TABLE 23 Asia Pacific Oil & Gas Market by Country, 2024 - 2031, USD Million
TABLE 24 Asia Pacific Power Generation Market by Country, 2020 - 2023, USD Million
TABLE 25 Asia Pacific Power Generation Market by Country, 2024 - 2031, USD Million
TABLE 26 Asia Pacific Automotive Market by Country, 2020 - 2023, USD Million
TABLE 27 Asia Pacific Automotive Market by Country, 2024 - 2031, USD Million
TABLE 28 Asia Pacific Pharmaceutical Market by Country, 2020 - 2023, USD Million
TABLE 29 Asia Pacific Pharmaceutical Market by Country, 2024 - 2031, USD Million
TABLE 30 Asia Pacific Food & Beverage Market by Country, 2020 - 2023, USD Million
TABLE 31 Asia Pacific Food & Beverage Market by Country, 2024 - 2031, USD Million
TABLE 32 Asia Pacific Others Market by Country, 2020 - 2023, USD Million
TABLE 33 Asia Pacific Others Market by Country, 2024 - 2031, USD Million
TABLE 34 Asia Pacific Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 35 Asia Pacific Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 36 Asia Pacific Emergency Shutdown Systems (ESD) Market by Country, 2020 - 2023, USD Million
TABLE 37 Asia Pacific Emergency Shutdown Systems (ESD) Market by Country, 2024 - 2031, USD Million
TABLE 38 Asia Pacific Burner Management Systems (BMS) Market by Country, 2020 - 2023, USD Million
TABLE 39 Asia Pacific Burner Management Systems (BMS) Market by Country, 2024 - 2031, USD Million
TABLE 40 Asia Pacific High-Integrity Pressure Protection Systems (HIPPS) Market by Country, 2020 - 2023, USD Million
TABLE 41 Asia Pacific High-Integrity Pressure Protection Systems (HIPPS) Market by Country, 2024 - 2031, USD Million
TABLE 42 Asia Pacific Turbomachinery Control (TMC) Systems Market by Country, 2020 - 2023, USD Million
TABLE 43 Asia Pacific Turbomachinery Control (TMC) Systems Market by Country, 2024 - 2031, USD Million
TABLE 44 Asia Pacific Supervisory Control and Data Acquisition (SCADA) Systems Market by Country, 2020 - 2023, USD Million
TABLE 45 Asia Pacific Supervisory Control and Data Acquisition (SCADA) Systems Market by Country, 2024 - 2031, USD Million
TABLE 46 Asia Pacific Fire & Gas Monitoring Control Systems Market by Country, 2020 - 2023, USD Million
TABLE 47 Asia Pacific Fire & Gas Monitoring Control Systems Market by Country, 2024 - 2031, USD Million
TABLE 48 Asia Pacific Functional Safety Market by Country, 2020 - 2023, USD Million
TABLE 49 Asia Pacific Functional Safety Market by Country, 2024 - 2031, USD Million
TABLE 50 China Functional Safety Market, 2020 - 2023, USD Million
TABLE 51 China Functional Safety Market, 2024 - 2031, USD Million
TABLE 52 China Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 53 China Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 54 China Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 55 China Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 56 China Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 57 China Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 58 Japan Functional Safety Market, 2020 - 2023, USD Million
TABLE 59 Japan Functional Safety Market, 2024 - 2031, USD Million
TABLE 60 Japan Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 61 Japan Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 62 Japan Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 63 Japan Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 64 Japan Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 65 Japan Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 66 India Functional Safety Market, 2020 - 2023, USD Million
TABLE 67 India Functional Safety Market, 2024 - 2031, USD Million
TABLE 68 India Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 69 India Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 70 India Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 71 India Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 72 India Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 73 India Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 74 South Korea Functional Safety Market, 2020 - 2023, USD Million
TABLE 75 South Korea Functional Safety Market, 2024 - 2031, USD Million
TABLE 76 South Korea Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 77 South Korea Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 78 South Korea Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 79 South Korea Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 80 South Korea Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 81 South Korea Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 82 Australia Functional Safety Market, 2020 - 2023, USD Million
TABLE 83 Australia Functional Safety Market, 2024 - 2031, USD Million
TABLE 84 Australia Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 85 Australia Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 86 Australia Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 87 Australia Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 88 Australia Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 89 Australia Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 90 Malaysia Functional Safety Market, 2020 - 2023, USD Million
TABLE 91 Malaysia Functional Safety Market, 2024 - 2031, USD Million
TABLE 92 Malaysia Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 93 Malaysia Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 94 Malaysia Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 95 Malaysia Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 96 Malaysia Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 97 Malaysia Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 98 Rest of Asia Pacific Functional Safety Market, 2020 - 2023, USD Million
TABLE 99 Rest of Asia Pacific Functional Safety Market, 2024 - 2031, USD Million
TABLE 100 Rest of Asia Pacific Functional Safety Market by Device Type, 2020 - 2023, USD Million
TABLE 101 Rest of Asia Pacific Functional Safety Market by Device Type, 2024 - 2031, USD Million
TABLE 102 Rest of Asia Pacific Functional Safety Market by Industry Verticals, 2020 - 2023, USD Million
TABLE 103 Rest of Asia Pacific Functional Safety Market by Industry Verticals, 2024 - 2031, USD Million
TABLE 104 Rest of Asia Pacific Functional Safety Market by Safety System, 2020 - 2023, USD Million
TABLE 105 Rest of Asia Pacific Functional Safety Market by Safety System, 2024 - 2031, USD Million
TABLE 106 Key Information - ABB Ltd.
TABLE 107 Key Information - General Electric Company
TABLE 108 Key Information - Siemens AG
TABLE 109 Key Information - Rockwell Automation, Inc.
TABLE 110 Key Information - Schneider Electric SE
TABLE 111 Key Information - Mitsubishi Electric Corporation
TABLE 112 Key Information - Emerson Electric Co.
TABLE 113 Key Information - Honeywell International, Inc.
TABLE 114 Key Information - Omron Corporation
TABLE 115 Key Information - Yokogawa Electric Corporation

Asia Pacific Functional Safety Market Size, Share & Trends Analysis Report By Device Type, By Industry Verticals, By Safety System, By Country and Growth Forecast, 2024 - 2031

Description

Table of Contents