New Growth Hubs in Global Safety Instrumented Systems for Process Industries
Stringent safety regulations and oil prices drive growth strategies
The safety instrumented systems (SISs) study provides an analysis of the impact SISs have on process industries across the globe. Despite being a mature market, the need to replace and upgrade systems in continuous process industries drives SIS market growth.
This research service offers forecasts and analyses of the following segments: emergency shutdown system (ESS), high integrity pressure protection system (HIPPS), burner management system (BMS), fire and gas control system (F&GC), and turbomachinery control system (TMC). The study also covers market drivers and restraints, trends, challenges, the impact of COVID-19, and competitive structure.
The global SISs market is driven by the need for process industries to comply with regulatory policies, adjust to fluctuating oil prices, and replace obsolete parts. Globally, SIS is a highly mature area with minimal technological developments as the majority of customers are conservative and reluctant to change. This is one major reason for the slow growth and advancement of SIS products and services when compared to other industrial automation tools.
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