New ARC Advisory Group research on the process safety systems market reveals that factors such as increasing regulatory pressure, standards compliance, and media activity are all combining to drive end users to make increased investment in process safety. For a few years the market growth had plateaued as manufacturers in the heavy process industries were averse to change; but now with emphasis on safety, cybersecurity, and integrated operations the market for process safety systems is on a recovery path.
“ARC perceives a change in attitude toward safety systems among the end user community. End users are demanding more information about the functioning and behaviors of their process safety systems, and they want them to be easier and more intuitive to access,” according to Mark Sen Gupta, Director of Research at ARC Advisory Group and key author of ARC’s Process Safety Systems Global Market Research report.
“Adopting a common methodology or lifecycle approach to safety and security makes sense because it reduces duplication of effort, minimizes the possibility of omissions, and helps develop a safer and more secure system. Performing the safety and security evaluations concurrently as part of a modified hazard and operability studies (HAZOP) is more efficient and makes it less likely to overlook something important,” added Mark.
About the Process Safety Systems Research
This ARC research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the process safety systems market. 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, plus five-year market forecasts by region, industry, revenue category, application, safety integrity level, sales channels, and customers.
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 a:
- Market Intelligence Workbook (Excel) - personalized spreadsheet includes two years of historical data in addition to the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.