New ARC Advisory Group research on the alarm management market reveals that reliable alarm management continues to be a focus in industrial process plants around the world. This is driven largely by the need to conform to current standards and best practices like ISA 18.2, EEMUA 191, and IEC 62682 and pushed by governments and insurers. The primary goal of these standards and practices is to develop a continuous improvement approach to alarm management and ease the “alarm burden” on operators, so they only see the information they need to see, particularly during process upsets or other abnormal situations.
"Current alarm management solutions should help leverage transformative technologies more completely. Many facilities find hidden value in masked abnormal situations – ones that are near misses or degrading situations. These learnings are then applied to supervisory applications to increase efficiency and safety. Alarm management offers end users an opportunity to lower their operational risk, institutionalize operating knowledge, increase their efficiency, and improve their sustainability," according to Mark Sen Gupta, Director of Research and key author of ARC's Alarm Management Market Research.
Alarm Management Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Continuous Improvement Initiatives for Alarm Management
- Drive for Standardization
- Third-party Specialists Have Emerged
- Users More Receptive to Alarm Management
Leading Suppliers to the Alarm Management Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ABB, Emerson Automation Solutions, Hexagon, Honeywell, TiPS.
About the Alarm Management Research
The Alarm Management research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and five years of historical analysis. The segmentation includes Revenue Category, Sales Channel, World Region, Industry, Customer Type, Overall Scope.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
- MIRA Service: An annual subscription service that provides a unique online environment to each customer, together with all the necessary user interface apps and datasets. MIRA unlocks the full benefits of ARC’s time-tested market intelligence by leveraging the latest analytical tools and technologies to allow you to make more actionable, real-time business decisions. Interactive access to ARC’s qualitative analysis is displayed in context with up-to-date market data, allowing clients to develop customized views of the market to best suit their needs.
- Concise Market Analysis Report (PDF): This wide-screen presentation format provides executives, business unit managers, and other users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
- Market Intelligence Workbook (Excel Power Pivot, sold with Market Analysis Report PDF): A standard Excel Workbook, including base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate data, making it easier to analyze the latest data for business intelligence and generate custom reports, including up to five years of historical analysis.
For more information on this and other available ARC market research, please visit our Market Analysis Services section.