Stringent requirements for the Energy and Oil & Gas sectors, regulatory obligations, and technological acceleration are the main factors driving the global industrial security market, which is expected to grow over the next 5 years.

Edited by G.M. International

According to a recent report signed by Zion Market Research, the global industrial security market of USD 3.04 billion in 2018, is expected to reach USD 5.41 billion by 2025, at a compound annual growth rate (CAGR) of 8.6% during 2019-2025.

The implementation of safety measures by many governments is a key factor supporting this market, which is only partly held back by the need for large upfront investments. On the contrary, the growing acceptance of occupational safety regulations, particularly in developing countries, is opening up new growth opportunities for major market players such as ABB, Balluff, Emerson, Euchner, Fortress Interlocks, GE, Harting, Hima, Honeywell, Johnson Controls, Omron, Pepperl+Fuchs, Proserv Rockwell Automation, Schneider Electric, Siemens, and Turck Yokogawa.

The report considered five categories of systems: burner management systems (BMS), fire and gas monitoring and control systems (Fire&Gas), high integrity pressure protection systems (HIPPS), turbo machinery control (TMC) and emergency shutdown systems (ESD).

On the product and component side, 7 types were analysed: safety sensors, emergency stop devices, safety relays/modules/controllers, programmable safety systems, safety valves, safety switches, other accessory devices. Emergency stop systems and programmable safety systems (IEC 61508-certified PLCs with enhanced diagnostics and redundancy) are the estimated fastest growing segments with a very significant share also in 2018.

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