Functional Safety Market Analysis, Development [2028], Key Terms
According to TechSci Research report, “ Global Functional Safety Market - I ndustry Size, Share, Trends, Competition Forecast & Opportunities, 2028 ” . Global Functional Safety Market is anticipated to project robust growth in the forecast period with a CAGR of 9.84% through 2028. The increasing adoption of functional safety systems in a wide range of industries and the growing industrial safety standards are the factors driving the market growth. Oil and gas facilities are prone to accidents that can negatively impact society and the environment. Functional safety measures, including emergency shutdown systems, can significantly minimize the risk of disasters in oil and gas facilities. The increasing use of connected devices and the rapid installation of software solutions using over-the-air (OTA) are also expected to drive the demand for functional safety systems. Industrial Revolution 4.0 has increased the need for reliable security systems to pr...