The global Industrial Safety Market is estimated to grow from USD 6.3 billion in 2022 to USD 8.8 billion by 2027, at a CAGR of 6.8%. The adoption of standards such as IEC 61508 and IEC 61511 has led to increased dependency on industrial safety systems to attain the mandatory risk reduction targets. IEC 61508 and IEC 61511 are performance-based standards that promote the concept of the industrial safety life cycle.
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