Today: November 27, 2015, 11:46 pm

Global process safety system market: 11.3% CAGR growth forecast between 2012-16
Global Process Safety System Market 2012-2016 - a new market research report on 2014-03-26 08:59:01
The Global Process Safety System market is to grow at a CAGR of 11.28 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for safety systems from the Oil and Gas industry. The Global Process Safety System market has also been witnessing the increasing demand of safety system from the APAC region. However, the reluctance to migrate to the latest technology could pose a challenge to the growth of this market.

Development of integrated safety solutions is one of the major factors that drive the Global Process Safety System market. Currently several vendors offer integrated safety solutions, which are more effective than traditional safety systems. These safety solutions consist of basic process control solutions, which in turn help end-users to optimize their overall operational costs and improve operational efficiency. For instance, Honeywell International Inc. offers integrated process control and a safety system, which is highly effective compared to a legacy system.

One of the major drivers is the increasing demand for safety systems from the Oil and Gas industry. The effective deployment of safety systems helps companies to avoid any hazardous activities during operation, thereby increasing the overall operational efficiency of the plant.

A major challenge in the market is the reluctance in migrating to the latest technology. Several organizations across various process industries across the globe find it difficult to shift from their legacy system to the latest technology because of various technical issues such as interoperability and compatibility with existing systems.

The key vendors dominating this market space are ABB Ltd., Honeywell International Inc., Siemens AG, and Yokogawa Electric Corp.

Other vendors are Emerson Electric Co., General Electric Co., Invensys plc, Rockwell Automation Inc., and RTP Corp.

Click for report details: ..

Browse all Information Technology Market Research Reports ..

Browse all Information Technology Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 493 Words
Related Articles
More From Finance
USGFX Anticipates A Rise In Forex Trading [..]
The Shanghai Composite Index has been volatile and at one stage dropped more than 30% from its June 12 peak, [..]
Credit-Yogi Recommends Reputable Debt Solution Companies To [..]
Many people who have poor credit don’t know what to do about it. They realize that their bad credit prevents [..]
Credit-Yogi Reveals Special Considerations for Military Members [..]
No one wants to have their vehicle taken back by their banks. It’s a source of stress for the individual [..]
Credit-Yogi Teaches Consumers How To Use HAMP [..]
Be Prepared to Utilize HAMP Lenders do not like to help borrowers prevent foreclosure by accessing the Obama loan modification [..]
Credit-Yogi Informs Military Members Facing Auto Repossession [..]
No one wants to have their vehicle taken back by their banks. It’s a source of stress for the individual [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.