Functional Safety Market Size to Hit US$ 14.24 Billion by 2032, Due to Increased Automation & Regulatory Compliance | Research by SNS Insider [Yahoo! Finance]
Rockwell Automation, Inc. (ROK)
Last rockwell automation, inc. earnings: 4/28 07:02 am
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Source: Yahoo! Finance
Pune, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Functional Safety Market Growth Analysis: “As per the SNS Insider Research, The Functional Safety Market size was valued at US$ 8.31 Billion in 2023 and is projected to grow to US$ 14.24 Billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.17% during the forecast period from 2024 to 2032.” Growing Demand Driven by Advanced Safety Systems and Industry 4.0 Adoption The market's growth is significantly driven by the increased adoption of automation technologies and heightened focus on regulatory compliance across key sectors such as automotive, oil and gas, pharmaceuticals, and manufacturing. The rising implementation of autonomous vehicles and electric cars, coupled with the expansion of Industry 4.0 practices, is spurring demand for robust functional safety systems. These systems are crucial for Advanced Driver Assistance Systems (ADAS) and autonomous driving technologies, which require precise and reliable safety mechani
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- 8/7/24 - Beat
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Sec Filings
- 9/9/24 - Form 4
- 8/30/24 - Form 8-K
- 8/22/24 - Form 4
- ROK's page on the SEC website