Global and United States Functional Safety Design Market Report & Forecast 2022-2028

Functional safety is about reducing the risks of simple and complex systems, such that they function safely in the event there is an electrical or electronic malfunction. As more products incorporate complex microelectronics and software into their design, it is becoming increasingly challenging for quality and safety engineers to assess and implement functional safety at the system level.
Market Analysis and Insights: Global and United States Functional Safety Design Market
This report focuses on global and United States Functional Safety Design market, also covers the segmentation data of other regions in regional level and county level.
Due to the COVID-19 pandemic, the global Functional Safety Design market size is estimated to be worth US$ 6313.7 million in 2022 and is forecast to a readjusted size of US$ 8930.8 million by 2028 with a CAGR of 6.0% during the review period. Fully considering the economic change by this health crisis, by Type, Software accounting for % of the Functional Safety Design global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While by Application, Automotive was the leading segment, accounting for over percent market share in 2021, and altered to an % CAGR throughout this forecast period.
The growing demand for sophisticated technology has pushed the manufacturing industry – particularly component manufacturers – into the fast lane. As technology is evolving rapidly, manufacturers face the challenge of developing components and systems quickly and at low cost. They must also ensure that their products meet all necessary functional safety and quality requirements, such as IEC 61508 or other safety standards. By doing so, hazardous states in systems or components can be minimised to limit damage to people, property and environment. Additionally, manufacturers, suppliers and operators can benefit from increased market acceptance and positive brand associations. To avoid business losses and time-consuming reworks, it is important that manufacturers ensure that their products adhere to the quality and safety guidelines from the onset.
Global Functional Safety Design Scope and Market Size
Functional Safety Design market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Functional Safety Design market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application for the period 2017-2028.
For United States market, this report focuses on the Functional Safety Design market size by players, by Type and by Application, for the period 2017-2028. The key players include the global and local players, which play important roles in United States.
Segment by Type
Software
Service
Segment by Application
Automotive
Aerospace & Defense
Medical
Industrial
Robotics
Others
By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
By Company
Synopsys
Cadence
Mentor Graphics (Siemens)
Aldec
Altair Engineering
Altium
Ansys
Dassault Systemes
National Instruments
Silvaco
Mirabilis Design
IBM
Xilinx
Verification Technology