Market Share of Global Safety Instrumented System Industry
The Global Safety Instrumented Systems Market is moderately competitive with several major players like Siemens AG, ABB Ltd., Schneider Electric SE, etc. In terms of market share, few significant players currently dominate the market. With a prominent share in the market, these major players are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability. The competition, rapid technological advancements, and frequent changes in consumer preferences are expected to threaten the market's growth of the companies during the forecast period.
- January 2021 - ABB Ltd. Launched ABB Ability Safety Plus for hoists, the first fully SIL 3 certified mine hoist solutions with the highest level of safety. It includes include Safety Plus Hoist Monitor (SPHM), Safety Plus Hoist Protector (SPHP), and Safety Plus Brake System (SPBS), including Safety Brake Hydraulics (SBH). It has been designed in accordance with the international 'safety of machinery' standard IEC62061.
- February 2021 - Yokogawa Electric Corporation announced the addition of new turbidity detectors, chlorine sensor units, and liquid analyzers lineup in its product portfolio for water treatment facilities.
Safety Instrumented System Market Leaders
Rockwell Automation Inc.
Emerson Electric Company
Honeywell International Inc.
Yokogawa Electric Corporation
ABB Ltd
*Disclaimer: Major Players sorted in no particular order
