Process Safety Systems

The Process Safety Systems Market Research delivers current market analysis plus a five year market and technology forecast. It is available in multiple editions including worldwide, all regions, and most major countries.

Process Safety Systems Growth Driven by Regulatory and Compliance Pressures

ARC Advisory Group research on the Process Safety Systems market continue to show that factors such as increasing regulatory pressure, standards compliance, and system obsolescence are all combining to drive end users to make increased investments in process safety. The market continues to seek equilibrium after the effects of the pandemic. With an emphasis on safety, cybersecurity, sustainability, and remote operations, the market for process safety systems continues to be soft, and supply chain pressures are particularly evident in 2022.

Process Safety Systems Strategic Issues

Process Safety Systems Market TrendsIn addition to providing a five-year market forecast, the Process Safety Systems market research provides detailed quantitative current market data and addresses key strategic issues as follows.

Cultivate Internal and External Peer Relationships

SIS suppliers have worked to develop programs for mutual learning and support among their customer base, but many end users do not take advantage of these resources. Operating safer than your competition does not help the industry and learnings should be shared. First, end users should take steps to build collaboration, communication, and training within their own organizations, especially among peers at different units and plants that are running common automation systems. Second, they should participate more broadly in SIS supplier user communities. Many activities take place online.

Allocating time and resources to this type of activity is an ongoing challenge for end users who are often called upon unexpectedly to resolve daily operating problems or questions but can pay big dividends in knowledge transfer and professional (and personal) networking.

Make Cybersecurity Part of the Process Safety Lifecycle

If a cyber-attack can compromise safety in the physical world, we must view cybersecurity in the context of safety. Similarly, approaches that are taken in the world of safety to evaluate risk and design safer systems should be applied to the word of cybersecurity. There are many methods to evaluate risk in process safety that are consistent with those outlined in the ISA 84/IEC 61511 process safety standard. These include the use of risk assessment matrices that consider severity, likelihood, and consequence of risks to people assets, environment, and company reputation. Bowtie models are used to evaluate control and recovery barriers to manage various threats and consequences of a cyber-attack.

Layers of protection analysis (LOPA) is also used in process safety. In general terms, LOPA is a semi-quantitative analysis of hazard scenarios. LOPA considers things like the historical event frequency of the hazard, the performance of selected barriers in terms of risk reduction to determine if a safety instrumented function (SIF) is required and, if so, what safety integrity level (SIL) level should be employed.

Process safety systems and other control and recovery barriers have cybersecurity vulnerabilities that must be mitigated. These vulnerabilities lead to 'escalation factors' in the Bowtie model that must be addressed with the appropriate escalation factor controls. One approach for integrating the cybersecurity risk assessment into the HSSE risk assessment process is to focus on escalation factors associated with barriers that have cybersecurity vulnerabilities. One advantage to this approach is that it is already a part of the existing HSSE risk assessment process.

Integration of Cybersecurity Risk Assessment with HSSE Risk Assessment

The need for conducting cybersecurity risk assessments for process safety is called out in IEC 61511 Part 1 (2016), which requires that "a security risk assessment shall be carried out to identify the security vulnerabilities of the SIS." The requirement further specifies additional details supporting the risk assessment. While this is a needed step, there are potentially many other safety related elements in industrial systems that are subject to cybersecurity vulnerabilities.

A wide variety of HSSE control and recovery barriers are available for use. Increasingly, these barriers have software, compute, and network elements in their design. The trend of integrating these safety critical subsystems and assets with control systems will continue and must be considered in the context of the process safety lifecycle, and the cybersecurity implications must also be considered. Considering these challenges, it is recommended to change the HSSE Risk Assessment process to include an integrated, fit-for-purpose cybersecurity risk assessment.

Process Safety Systems Research Formats and Editions Available

This market research may be purchased as a MIRA Service, an Excel Workbook, and/or as a Market Analysis Report (PDF). MIRA Services help unlock the full benefits of ARC’s market intelligence, making the data more actionable for you by adding qualitative context to our market data in an online environment unique to each customer. Regional editions include country and industry market data. Formats available are listed below:

MIRA Services MIRA Workbook Market Analysis PDF
Annual Subscription Yes No No
Worldwide (includes regional data) Yes Yes Yes
North America (includes regional data) Yes Yes No
Europe, Middle East, Africa (includes regional data) Yes Yes No
Asia (includes regional data) Yes Yes No
Latin America (includes regional data) Yes Yes No

Table of contents for this research is shown in the following paragraphs.

Worldwide Research Focus Areas

Strategic Analysis

  • Executive Overview
  • Market Trends
  • Buyer Strategies
  • Supplier Strategies
  • Growth Contributors and Inhibitors

Competitive Analysis

  • Market Shares of the Leading Suppliers of Process Safety Systems
  • Market Shares by Region
    • North America
    • Europe, Middle East, & Africa
    • Asia
    • Latin America
  • Market Shares by Revenue Category
    • Hardware
    • Software
    • Services
  • Market Shares by Service Type
  • Market Shares by Industry
    • Chemical
    • Electric Power Generation
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Refining
  • Market Shares by Application
    • Emergency Shutdown
    • Fire & Gas Monitoring
    • Critical Process Control
    • Burner Management
    • Turbomachinery Control
  • Market Shares by Safety Integrity Level
  • Market Shares by Project Type
    • New Construction
    • Replacement
    • Upgrade/Expansion
  • Market Shares by Sales Channel

Market Forecasts and Histories

  • Total Process Safety Systems Business
  • Shipments by Region
    • North America
    • Europe, Middle East, & Africa
    • Asia
    • Latin America
  • Shipments by Revenue Category
    • Hardware
    • Software
    • Services
  • Shipments by Service Type
  • Shipments by Industry
    • Chemical
    • Electric Power Generation
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Refining
  • Shipments by Safety Integrity Level
  • Shipments by Application
    • Emergency Shutdown
    • Fire & Gas Monitoring
    • Critical Process Control
    • Burner Management
    • Turbomachinery Control
  • Shipments by Project Type
    • New Construction
    • Replacement
    • Upgrade/Expansion
  • Shipments by Sales Channel

Industry Participants

The research identifies all relevant suppliers serving this market. 

Regional Research Focus Areas

Strategic Analysis

Competitive Analysis

  • Leading Suppliers in Region
  • Industry Shares in Region
  • Country Shares in Region
  • Leading Suppliers by Industry

Market History & Forecast Analysis 

  • Market History & Forecast by Country
  • Market History & Forecast by Industry

Industry Participants

List of countries & currencies included in each region: MIRA-Country

For More Information

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