Functional Safety Market to Reach USD 12.35 Billion by 2032, Growing at a CAGR of 7.79% from 2025–2032

The global functional safety market, valued at USD 6.84 billion in 2024, is expected to experience robust growth, advancing at a compound annual growth rate (CAGR) of 7.79% from 2025 to 2032. By 2032, the market is projected to reach USD 12.35 billion. This growth can be attributed...

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Why Will APAC Rule the Functional Safety Market?

The major driver in the global functional safety market is the dire need to reduce the hazardous impact on physical assets in facilities, including onshore and offshore oil & gas fields, refineries, and chemical plants, the environment, and people. In 2021, the market stood...

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