It’s no secret that the security and fire industry is home to hundreds of suppliers, each competing for a slice of a global $100+ billion market
It's no secret that the security and fire industry is home to hundreds of suppliers, each competing for a slice of a global $100+ billion market. In niche industries such as oil and gas, where IHS sizes the market for security and fire equipment and services to be more than $1 billion, increased competition has prompted some suppliers to move beyond the integration of security equipment for critical assets, and adopt a business continuity approach.
Many oil and gas companies utilize independent systems for incident management, crisis management and security. This has presented an opportunity for integrators that are attempting to bring each of these systems under one comprehensive product that can operate in an integrated fashion. The challenge for integrators will be the method in which information is displayed. In most instances, there has been data overload, with operators seeing too much information at any one time. With an integrated approach, the idea is not to broadcast every piece of information to every worker, but rather, the right information to the right people.
Regulatory requirements, environmental impacts and risk assessments remain significant challenges for oil and gas operators and will continue to drive the market toward a more integrated approach to security.