Transparency Market Research
Alarm Rationalization Software Market - Overview
Alarm is any signal that requires the operator to take certain action in order to maintain the safety and efficiency of the production process at a plant site. The alarm is designed to mitigate any kind of accident or disturbance in the process. It therefore helps in maintaining the productivity of the plant site. Though alarms are deployed to fulfill the above mentioned functions, most of the time alarms are not able to function properly, thereby creating problems during the production process. In order to set alarms for proper functioning, alarm management solutions with alarm rationalization tools are often deployed by operators. Alarm rationalization is an alarm management technique that helps in reduction of alarm load on the operator and eliminates redundancy and false alarm, thereby improving the operator’s response. The process involves reviewing and justifying the potential alarms so that they meet the criteria for being an alarm. The process also involves defining the characteristics of each alarm and authenticating the reason, result, response time, and operator’s action.
Alarm Rationalization Software Market - Drivers & Restraints
The need for alarm rationalization is to maintain a minimum set of alarm that are needed to keep the process safe and in efficient operation. The alarm rationalization process reduces alarm load on the operator, removes false alarms, eliminates redundancy, helps in prioritizing the alarm for productive action, strengthens the operator’s trust on the alarm system, and drastically improves operator’s response. The operator’s response becomes quick, consistent, and effective due to the rationalization solution. Rationalization also significantly reduces the chance of a critical alarm being missed out, thereby optimizing the production operation. The alarm rationalization process involve numerous steps. Some of these steps involves checking alarm validity, recording operator’s response time, assigning the alarm priority, classifying alarms, and setting the alarm limit.
The alarm rationalization software market is driven by strong need among operators to reduce alarm load and bring about consistency in the operation. Though alarm rationalization is essential for efficient operation of any plant site, operators face some challenges with the alarm management project. The challenge is largely related to cost and resource allocation. Attaining uniformity in alarm management is yet another challenge faced by the end-user. Irrespective of the challenges, the implementation of alarm rationalization is increasing among various industry verticals due to the increasing need to efficiently manage alarms at the plant premises. Software vendors present in the market are continuously innovating and improving the alarm management software by providing a more flexible and server based platform to the industry vertical. Moreover, vendors are also making sure that the software solution offered in the market conform to various alarm management standards and best practices like ISA 18.2, IEC 62682, and EEMUA 191. Vendors are also making sure that the new advanced solution can be easily implemented without any hassle and within stipulated time.
Alarm Rationalization Software Market - Segmentation
The alarm rationalization software market can be segmented on the basis of industry vertical, software type, deployment type, and region. Based on software type, the alarm rationalization software market can be bifurcated into standalone software and onsite-integrated software. On the basis of deployment type, the alarm rationalization software market can be bifurcated as cloud based solution and on premise solution. In terms of industry vertical, the market can be bifurcated into oil and gas, chemical and petrochemicals, food and beverage, and others. Based on region, the alarm rationalization software market is segregated into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Alarm Rationalization Software Market - Key Players
Key players operating in the market are ABB ltd., Rockwell Automation, Yokogawa Electric Corporation, exida.com LLC, TiPS, Inc., MAC Solutions, Emerson, PAS Global, LLC, Schneider Electric, and Honeywell International.
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