New ARC Advisory Group research on the process safety instrumentation market reveals that process safety instrumentation for safety instrumented function (SIF) loop applications remains essential to safeguard today’s industrial plants, many of which are in the midst of digital transformation. Industrial organizations are looking to reduce risk by increasing their focus on overall safety loop solutions. In addition to the critical safety logic solvers (covered in ARC’s separate Process Safety System market research report); safety integrity level (SIL)-certified sensors, final control elements (such as safety valves), and auxiliary devices all have key roles to play in securing the safety control loop in safety-critical applications.
“As industrial organizations around the world struggle with a shortage of qualified operations and maintenance personnel to replace the current generation of highly experienced workers, they increasingly look to technology to help ensure plant and process safety. This is helping drive growth in the overall process safety market, including the markets for the safety integrity level (SIL)-rated sensors, valves and actuators, safety barriers, isolators, and relays that must all be integrated into the overall safety system to help ensure appropriate levels of safety for the respective application,” according to Rex Sun, Analyst at ARC Advisory Group and key author of ARC’s Process Safety Instrumentation Global Market Analysis report.
About the Process Safety Instrumentation Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the process safety instrumentation market. This new research is based on ARC’s industry-leading market research database, extensive research, and proprietary economic modelling techniques. The research includes five-year market forecasts by region, product segmentation, industry, SIL Rating, component type, and function loop application.
This new research, which is available as a 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.
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